What would happen if gold ran out?

Time flies doesn’t it! In real terms, it’ll probably take more than 20 years to deplete known reserves. As gold prices go up (which they inevitably will), recycling rates are likely to increase. On the other hand, as gold prices go up, rates of mine development and expansion will likely go up too.

How much gold is in the earth?

About 244,000 metric tons of gold has been discovered to date (187,000 metric tons historically produced plus current underground reserves of 57,000 metric tons). Most of that gold has come from just three countries: China, Australia, and South Africa.

Is gold becoming scarce?

Based on known reserves, estimates suggest that gold mining could reach the point of being economically unsustainable by 2050, though new vein discoveries will likely push that date back somewhat. Fortunately, gold hasn’t run out yet and is widely considered a wise investment option for any investor.

How much gold is left in the ground?

How much mineable gold is left? The World Gold Council estimates that remaining reserves worldwide amount to just 30\% of what’s been mined already — 54,000 metric tons of gold in sufficient concentrations, and buried at sufficiently accessible depths, to be mined at reasonable cost.

Is it illegal to make gold?

Yes, in this country, from 1933 to 1974 it was illegal for U.S. citizens to own gold in the form of gold bullion, without a special license. On January 1, 1975, these restrictions were lifted and gold can now be freely held in the U. S. without any licensing or restrictions of any kind.

Can gold go extinct?

One factor gold has on its side though is that, unlike other non-renewable resources like oil, it can be recycled. So we will never run out of gold, even when we can no longer mine it. Efforts to recycle gold extracted from electronic waste are already well under way.

What would the world be without gold?

Some would all of a sudden be missing teeth and others the heart stents that help keep them alive. Special treatments for cancer and arthritis and recently developed tests for many illnesses and diseases that rely on gold would cease.