How much Gold has remained in the world

Gold: Is it true that even if the world mines all of it, it will never run out?

Last month, the price of an ounce (approximately 28 grams) of gold on the world market reached an all-time high of more than ڈالر 2,000.

Although the gold traders had a bigger hand in raising the price, questions arose about the supply of gold and when this most precious metal could disappear from the world.

The demand for gold has increased and people are using it as an investment, exhibiting to show their financial status and it is also used in many electronic devices.

However, gold is available in limited quantities and there will come a time when it will disappear from the face of the earth.

The height or end of gold?

Experts talk about this concept which is called 'the height or end of gold'. This means the maximum amount of gold that can be mined in a single year. Some say we may have reached that point.

According to the World Gold Council (WGC), world gold production last year was more than 3,500 tons, down one percent from 2018. This is the first time since 2008 that global gold production has declined.

However, WGC spokeswoman Hannah Brand Stetter said in a statement: "The supply of gold may increase in the coming years as existing reserves run out and new mines are not being discovered. To say that gold production has reached its peak may not be correct.

Experts say that even if gold rises, there will be no significant decline in gold production for many years, but a reduction in supply may be felt for decades.

So how much gold is left?

Gold mining companies say they estimate the amount of gold in two ways.

Reserves: Gold that is economically viable to extract at current prices.

Resources: Gold that may be more profitable after further research or further increase in value.

It is easy to estimate the amount of reserves. The US Geological Survey estimates that there are currently 50,000 tonnes of gold underground.

In a way, to date, 190,000 tons of gold have been mined, although the numbers continue to rise and fall. According to these estimates, we now have only 20% more gold left.

But it is also possible to extract gold with the help of new technology, which is not yet possible.

Robots are being used for mining in some mines and this use is likely to increase in the coming days.

The largest gold mines

The largest gold mine in the world is the Watersund Basin in South Africa. It is said that only 30% of the world's gold has been mined so far.

Other major mines in the world include China's M Ponning Mine, Australia's Super Pitt and New Mount Boddington Mines, Indonesia's Grassberg Mine and the US state of Nevada.

China is the world's largest gold producer, followed by Canada, Russia and Peru.

Experts say new mines are being discovered around the world, but rarely are mines with large gold reserves.

What is the difficulty in extracting gold?

Large-scale mining is not an easy task and requires a lot of money and resources, such as machinery and specialists who can work in these mines.

Today, 60% of the world's work is done above ground, while the rest is done underground.

There are not many places left where gold can be found, but there are some places where mining is not easy due to the ground conditions, such as in West Africa.

Record gold prices

The record rise in gold prices in August does not mean that the world's gold mining is on the rise.

The fact is that changes in gold production take a long time to affect gold prices.

The increase was seen during the Code-19 epidemic, which has also affected mining and forced many mines to close temporarily as a precautionary measure.

Gold prices have risen during the epidemic as capitalists view gold as a safe haven in times of economic uncertainty.

Gold on Moon

Did you know that there is gold on the moon?

Estimating the amount of gold on Earth is not easy, but gold is present not only on Earth, but also on the Moon.

But mining this gold and then bringing it to earth is a very expensive process and it will never be economically viable.

Schneider O'Sullivan, a space expert, says the money will be spent on mining more than the money will be spent on selling it.

There are gold deposits under the world's oceans, but extracting them would be very expensive.

But the most important feature of gold is that it is useful despite repeated use and can be used continuously.

This means that even if the world loses gold, it will never run out.

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