HOW MUCH GOLD IS THERE IN THE WORLD?
How much gold is there on the planet earth? Well according to most geological experts there is enough to fill two Olympic swimming pools or about 167,000 tones that equals 35273 ounces per ton, times 167,000 equals 5,890,591,000 or 5.9 billion ounces of gold which is not enough for one ounce for every child, woman and man on earth.
About 89% of gold ever mined during the 5000 years of recorded human history happened from 1849 to 2012. In 1849 gold was discovered east ofSacramentoalong theAmericanRiverat a famous location called Sutter’s mill. Most geologists say there is no more surface gold and can be found.
SOME INTERESTING FACTS ABOUT GOLD
All the gold ever mined on earth still exist in one form or another, albeit some on the bottom of the ocean floor in a sunken Spanish treasure galleons, is 167,000 metric tons With gold production up only 4% from 2011 to 2,600 metric tons of gold mined world wild the total amount of gold available world wide is not growing as fast as demand. The United States of Americareports to have almost 8,133 tons and 1,054 tons of gold forChina is growing its gold bullion holdings to 1,200 tons. IfChina spent its currency holdings on gold bullion it could buy 65,000 tons of gold. This would increase the demand for gold and drastically increase gold prices.
The world deepest gold mine is located 40 mile north of Johannesburg SouthAfrica. The mine is still active and accounts for 35% of all the gold mined in history. The company that owns the mine claims the have to process 3 tones of ore just to refine one ounce of .9999 fine gold. InCalifornia, open pit mines are the standard, one of the world’s largest dump trucks can hold 100 tone of gold ore. After processing a dump truck full, they average 2.5 ounces, sounds like it is just enough to cover diesel fuel.
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The US Geological Society estimates only 51,000 tones of gold is left to mine in the ground on plant earth. 20 million tones of gold are believed to be dissolved in ocean water. Scientists have not yet discovered ways to extract the gold from the sea water efficiently enough to cover the high costs even with gold at 1700 per ounce. If all the gold was taken out of the ocean water, this is enough gold for every man, child and woman to have just over 8 pounds of gold per person on planet earth. I don’t think I am ready to destroy the world’s oceans just to recover the gold.
TIME TO SELL YOUR GOLD JEWELRY AND GOLD COINS
1,400 tones of gold are recycled by gold buyers equaling about 41% percent of the yearly supply of gold. Peak gold production could happen in the next ten to 15 years as it becomes harder and more expensive to mine gold. In 25 years, there will be half as much gold left to mine but the expense to mine gold could quadruple if mining cost stay on pass with inflation. Gold buyers in Denver offer 80% of melt price for your unwanted jewelry. Picking the a honest coin store could be the difference getting a fair price and getting ripped off.
HOW MUCH GOLD IS THERE IN THE WORLD?
