In 1500 BC, the shekel, composed of two-thirds gold, was used as a standard unit of value throughout the Middle East. In 1091 BC, squares of gold were legalized in China as a form of money. In 58 BC, Julius Caesar seized enough gold in Gaul to repay Rome's debts.
Gold is the most malleable and ductile of all metals.
It does not tarnish or corrode, enhancing its utilization in electronic and computer applications as well as in aeronautics for such uses as protective shields for the space shuttle. Gold is mined on every continent except Antarctica, with some of the larger world deposits located several hundred feet underground. According to U.S. Geological Survey, total world resources are estimated at 89,000 tonnes. About 50 percent of world resources are in South Africa, with Brazil and the United States each holding 12 percent. World mine production in 1998 totaled 2,400 tonnes, shy of 1997's output of 2,410 tonnes.