Are we running out of gold? When will earth’s entire gold supply be depleted?
Gold Reserves on Earth: Most people have a strong attachment to gold, and every country is increasing its gold reserves. One reason for this is that gold always proves beneficial during times of crisis. So, the question is, how much gold is left in Earth? How much gold has been extracted since the beginning of human civilization?
According to the World Gold Council (WGC), a total of 2,16,000 tons of gold have been extracted from the Earth since the beginning of human history. The WGC provided this figure as of the end of 2024. The report states that 66 percent of the total gold extracted has been mined since 1950. If all the extracted gold were measured, it would form a cube 22 meters on each side, which is the height of a four-story building.
Only 54,000-70,000 tons of gold remain in Earth
According to the report, not much gold is left in the Earth's crust. Between 54,000 and 70,000 tons of gold remain. According to the US Geological Survey (USGS), the Earth originally contained a total of 2,44,000 tons of gold. Most of this has already been extracted. Now only 57,000 tons of gold remain, which can be gradually extracted in the future.
Russia and Australia have the most gold
When it comes to gold reserves, Russia and Australia have the most gold. They each have 12,000 tons of gold reserves. However, experts believe that a very large quantity of gold may be hidden in the Earth's core. This amount could be billions of tons, but current technology is not capable of reaching it.
3,000 tons of gold are extracted every year
Around 3,000 tons of gold are extracted worldwide every year. At this rate of mining, the known gold reserves on Earth could be completely depleted in the next 20 years. Incidentally, it is also hoped that new technologies and AI-based discoveries may uncover new gold mines in the future.
Where is gold used and in what quantities?
According to the report, 45% of the gold extracted so far is used in jewelry, 22% in making coins and bars, and about 17% is held in reserve by central banks. The remaining portion is used in industrial applications and technological devices. The Earth's gold reserves are limited. Therefore, its price and importance are likely to increase further in the future.