The World Gold Council estimates there are about 190,000 tonnes of gold in circulation, and roughly 54,000 tonnes that could be mined economically. Gold that comes out of the ground is used in a number of ways, much of it made into jewelry — representing about 50% of demand.
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.
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What is the supply of gold
The stock of gold available for you to always go to the gold market consists of gold from my own production (new supply) as well as pre-existing gold from surface stocks.
Is there a finite supply of gold in the world
With gold being mined since the beginning of history and new mines still being developed, it may seem strange to think of a day when there will be no major gold left to mine on our own soil. However, as with any other modest natural resource, the world’s sources of gold are limited. Eventually the world’s sources of new foreign gold will be exhausted.
How big is the world’s gold stored
Calculating the size of shelters for storing yellow metal is relatively easy. Gold has a density of approximately 19.3 g/cm3. In general, we fantastically know that its density is 19.3 t/m3. Thus, 154,400 tons can carry up to 20 m3. Can 12-15 cubic meters hold the world’s gold reserves?
How much is all the gold in the world worth
We use automated tools to keep track of the latest gold prices and have adapted to keep the most up-to-date total value of all our gold worldwide: based on the current gold price of $1818.42, that’s a stunningly impressive amount of money. each one is basically standard.
Where is the most gold in the world
The United States holds the largest silver holdings in the world, with a range of over 8,100. The US government has almost as many reserves as the next largest gold holding countries combined (Germany, Italy, and France).
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What are the main influences on the elasticity of supply that make the supply of some goods elastic and the supply of other goods inelastic
Many factors directly affect the elasticity of the supply of own goods, including inventory, timing, number of substitutes, and unused capacity. The state of these factors for a particular hard good determines whether that particular price elasticity of supply is adaptive or inelastic to changes in the price of a good hard good.
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