Tuesday , June 22 2021

How much gold is there on earth?

For thousands of years gold has been sought after and considered special. It has been bought, traded and stored as wealth for generations worldwide. During the course of history about 190,000 tonnes of gold have been utilized. To do an exercise of imagination, it would mean a cube with a 21.4 meter side.

In addition, research shows that there are still some 54,000 tonnes of gold reserves underground waiting to be utilized.

This metal is considered to be so expensive that, in contrast to other commodities, almost every ounce of gold is available on earth in human possession.

Of the total gold stock, over 90,000 tonnes are used, almost half of the total in the jewelry sector. There are private investments where 40,000 tonnes are used, and the world's governments have a total reserve of 32,000 tonnes of gold.

It is true that most of the gold is used to make jewelry, but there are many industries that use more or less of this precious metal. We talk about 27,000 tons here, and most of it goes to the IT industry. Electronic factories sometimes use up to 12% tonne extracted annually.

However, it happens that most of the gold used for gadgets will reach the garbage tip. 7% of all gold extracted over time is now in landfills. It was thrown away with electronic products containing precious metals. And the amount of wasted gold can increase proportionally with telephone and tablet sales.

According to the World Gold Council, in 2025, there will be two million tonnes of electronics in landfills worldwide, all with smaller or larger amounts of gold and other valuable and rare materials.

Again to gold reserves around the world, in addition to the 54,000 tons unused, it is estimated that there would be at least 20 million tonnes of gold dissolved in the sea. A large amount for which there is no technology yet to be extracted. The one who will invent it will be the ultimate alchemist.

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