Gold deposit

Gold deposit © Own image

All the gold in the world

Gold deposits are located all over the world. Most of them are native deposits. The precious metal must therefore first be separated from the rock before it can be processed. It is interesting to note that the mining of gold-bearing rock in mines is profitable even if one ton of extracted rock contains only one gram of gold. However, it has become increasingly difficult to fully exploit gold deposits in recent years, as the amount of gold in the rock decreases as mining progresses.

A cube with 21.5m side length!

The entire gold deposit of the world, when summarized on a cube, results in a side length of just 21.5 meters.

The reserves are running out

Gold is a very rare element that makes up just 0.0000005 percent of the earth's crust. 40 percent of the current production volume comes from gold mines in South Africa, the USA, Russia and Australia. Although the largest gold deposits are believed to be in South Africa, the reserves there are likely to be exhausted in around 36 years if the rate of extraction remains constant. Experts believe that Russia will be able to mine gold for another 23 years. Gold reserves in the USA could run out in as little as 17 years. If no new gold reserves are developed, the world's gold reserves will be depleted in a few years. Currently, the reserves of the 15 most important mining companies are estimated at 50,000 tons of gold, with about 2,500 tons of precious metal being mined each year.

Increase in the price of gold

As the extraction volume of gold is limited and the precious metal cannot be produced artificially, a supply shortage will develop in the long term. At the same time, demand is expected to rise, as gold is used in a wide variety of areas, e.g. in jewelry production, as a store of value, or in the electrical industry. In view of growing markets in China and India, demand is even likely to rise disproportionately in the coming years. In the long term, the strong imbalance between supply and demand will cause the price of gold to rise. Many people take advantage of the price increase to sell gold, for example in our Goldankauf Wien branches.

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