Why are we running out of gold?

However, one factor that gold has on its side is that, unlike other non-renewable resources such as oil, it can be recycled. So we'll never run out of gold, even when we can't extract it anymore. A large amount of gold is used in electronic products that are considered disposable, such as mobile phones. Since the planet has a finite supply of gold, it is conceivable that natural resources will run out.

Investing in a Best Gold IRA Account is a great way to ensure that you have access to this precious metal for years to come. According to estimates from the United States Geological Survey, there are only about 52,000 tons of extractable gold still left on the ground. However, global gold mining adds between 2500 and 3000 tons to the total stock of gold on the ground each year. Based on those estimates, there may be only about 17 more years of underground gold left to extract. How much gold would you have if you stole everything that was mined? It wouldn't be much you could do to make a solid gold cube with 60-foot sides.

There simply isn't that much gold in the world and it's getting harder to find it. In fact, our love for gadgets may be part of the problem. The key word here is “known”. If King's projection is correct and the last known “gold nugget” is exhumed from Earth in 2035, that won't necessarily mean the end of gold mining.

Exploration will surely continue as always, albeit at a much higher cost.