Summary of Investing in Gold

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Investing in Gold book summary
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Rating

7 Overall

8 Applicability

6 Innovation

7 Style


Recommendation

Gold draws a great deal of comment fueled by fiery passion, and often instigates discourses based on rumor, conspiracy theories and gossip. Allow Jonathan Spall, an expert on precious metals, to disprove the lingering myths about gold with his interesting, helpful little book. While Spall’s treatise doesn’t quite carry you on a complete tour of gold's role throughout human history, it does usher you down into the mines and through the gold refiner’s fire. His ability to explain the basics of the gold trade so clearly may be based on his writing skill, but it also reflects his years of experience explaining these ideas to nonspecialists. The only math he uses involves the simple equations used to calculate gold prices. While you may already be familiar with some of Spall’s information, getAbstract recommends his broad introduction to gold to those who are interested in all facets of the prized metal, from its extraction to its sale.

In this summary, you will learn

  • How gold is mined and refined;
  • How gold is sold to investors; and
  • Why an ounce of gold bought 350 loaves of bread in 562 B.C. and still buys about 350 loaves of bread today.
 

About the Author

Johnathan Spall has more than 25 years of experience with gold and associated commodities. He is currently the director of commodities at Barclays Capital, a division of Barclays Bank.

 

Summary

Mining and Refining Gold
South Africa has produced about one-third of all the gold ever mined. However, in recent years, its annual gold production has plummeted from 1,000 metric tonnes, “the term used globally in the gold market” [equivalent to 2205 imperial pounds] to 270 tonnes. In...

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