Gold is a precious metal, which has been used as a form of money, a store of value and in jewellery.
Out of all known metals, gold is the most malleable and ductile while also having dense, soft and shiny properties. Used as the monetary standard by the International Monetary Fund (IMF) and the Bank for International Settlements (BIS), gold is also used in modern industries such as dentistry and electronics.
In South Africa, the city of Johannesburg was built above the world's largest gold locations. Canada, the Siberian regions of Russia, the United States, and Australia are also other major producers of gold.
About one-quarter of the world's gold output originates from artisanal or small scale mining. When measuring gold, a system of troy weight and grams are used. Gold fixing, which occurs in London, provides daily figures to the commodities industry, but the price of gold is determined on the open market.