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Throughout much of the 20th Century, as political instability, war, and inflation damaged or destroyed official currencies, gold was a principal option for the preservation of wealth. However, it is important to note that despite the impressive gains shown by selective analysis over certain time periods, from an overall historical perspective, gold has not appreciated in real terms.
A significant proportion of the total quantity of gold ever mined is currently officially held by central banks and international organisations but some experts regard these figures with an element of scepticism. They point out that the practise of gold leasing could obfuscate the true position.