Gold is famous for its rarity and that likely won’t change any time soon. In fact, the global demand for gold hit a decade peak in 2022 while its supply continues its nearly 7-year plateau. So gold is in high demand, but will it run out any time soon?
The Earth has a limited amount of gold in its crust and experts are estimating that it may be unsustainable to mine gold by 2050. Compared to the nearly 4,000-7,000 year history of humans mining gold, that’s barely a blink of an eye. Peak gold mining may have already been reached, though additional gold veins could push this back.
Industry experts and concerned citizens are pushing for more electronics recycling and calling for an end to planned obsolescence (for the sake of gold as well as consumers). New technology may also be able to use other, more plentiful metals like silver or copper.
If the world runs out of gold to mine, there are a few likely consequences. The first is that the price of gold will likely start to rise significantly due to simple supply and demand unless demand for the metal drops precipitously.
Source: Kitco News