Gold prices during and after the Great Recession
P R I C E S A N D S P E N D I N G
U.S. BUREAU OF LABOR STATISTICS
FEBRUARY 2013 • VOLUME 2 / NUMBER 4
U.S. BUREAU OF LABOR STATISTICS
|
FEBRUARY 2013
1
www.bls.gov
Gold prices during and after the Great Recession
Author: Brian Hergt, Producer Price Index Program
G
old, a highly valuable precious metal, has many
practical uses that span multiple industries. Historically,
one of the primary uses of gold has been to make
ornamental objects, such as jewelry. Malleability is one of gold’s
special properties, allowing it to be hammered into sheets, drawn
into wires, and cast into different shapes.
In addition to jewelry, gold is used to manufacture many products
that we use in our everyday lives, especially electronics. This is
because gold is an efficient conductor of electricity, and electronic
components made with gold tend to be very reliable. Televisions,
cell phones, calculators, Global Positioning System (GPS) devices,
and computers are examples of products produced with small
amounts of gold. Gold is widely used in other areas, as well, such as
the medical, aerospace, and glassmaking industries.
Related articles
Additional BLS articles and information related to
producer and import/export prices are available
online at the following links:
y
“Measuring Price Change for Base
and Precious Metals and Diamonds in
the U.S. Import/Export Price Indexes,”
http://www.bls.gov/mxp/diamondfact.pdf
y
“Producer prices reverse course in 2008,”
http://www.bls.gov/opub/mlr/2009/07/
art2full.pdf
y
“Producer Price Highlights, 2009,”
http://www.bls.gov/ppi/ppidr201005.pdf
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