A good knowledge of the taxation laws will assist you in the planning and budgeting of your exploration and mining activities. Since the beginning of civilisation gold was a measure of a nation's wealth. Because of gold's durability all the gold that has ever been dug up, whether it be the jewellery of an Egyptian Pharaoh, Spanish doubloons or gold hoarded, is still in existence today. Gold is a precious metal which has been used for currency and made into coins, kept as ingots for investment or trade or made into jewellery or precious objects. Today gold is still used for those purposes, but its present value is governed by supply and demand which is influenced by world affairs and a lack of confidence in paper money and stocks and bonds.
Gold is one of Australia's largest export earners.
Market price of gold Each day in newspapers or on radio or television news the daily price of gold is given. This is the spot price of gold expressed in US dollars per troy ounce. Gold and other minerals are commodities and are subject to the law of supply and demand. Australia is a major producer of gold. South Africa is the world's largest supplier of gold.