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Fact Check: Is Gold scarce?

The worldwide supply of gold is at first glance surprising manageable – this is particularly impressive when you look at the headquarters of the precious metal trader “pro aurum”. The dimensions of the building in accordance with the amount of gold that has been promoted in all of human history before.

In accounting terms, the global gold, if you could gather it in one place a cube of only 20 meters edge length. This corresponds to approximately 166,000 tons of gold. However, the delivery volume has been decreasing from year to year, while the recycling of scrap gold has gained importance.

Yet, to date, about 3,000 tons of gold have been mined  each year. The process is complicated and costly. There are only single African countries and Central Asian states such as Uzbekistan and Kazakhstan with good forecasts for further gold mining. Gold is a scarce resource and the discovery of new large gold deposits is thus actually unlikely.

About the author

Sebastian Wieschowski