Gold valuation and global reserves overview

Gold remains a highly valuable asset due to its chemical stability and rarity. Approximately 24 percent of the global gold supply is derived from recycling, which includes old jewelry and heirlooms.

National gold reserves as of June 2023 show the United States leading with 8,133.5 tonnes, followed by Germany with 3,352.7 tonnes and Italy with 2,451.8 tonnes.

When selling old gold, the payout is determined by the material value rather than the raw market price. This value is calculated by multiplying the weight by the fineness (purity) and the daily market rate. In Germany, gold purity is indicated by three-digit hallmarks such as 333, 585, 750, or 999, representing the proportion of fine gold in the alloy. Buyers typically apply a discount to the calculated material value.