[barrkel]

Google around. General consensus seems to be that 75-80% of gold production goes to jewellery, and there's some fraction going to industry too. As the most ductile element, it's used in microelectronics, though of course in small quantities.

http://symmetricinfo.org/category/goldprices/ estimates 50% of gold stock is in jewellery, 12% in industry. Of course, some fraction of that jewellery is bought because people believe that the gold will be a store of value, not just because of how it works; though I wouldn't expect selling jewellery for its gold content to give particularly good returns.