BBJ Saturday, March 16, 2019, 12:08 Part I of this series tackled the value of gold as a portfolio hedge. In this article, Les Nemethy and Sergey Glekov discuss the very limited stock of gold within the world, and the supply and demand of gold, elements an investor should also understand before investing is gold. This article (and also Part III) will highlight the low stock and supply of gold, coupled with possible spikes in demand, that have the potential to create substantial appreciation in gold prices. Supply The total amount of gold mined in the history of the world is approximately 193,000 tones, according to the World Gold Council. Estimates of the global amount of gold differ: a recent BBC article estimates it at 171,300 tonnes. This represents a cube of 20.7 meters on each side – when you think about it, an incredibly small amount. Furthermore, there does not seem to be that much new supply coming onto the market, only about 3,000 tonnes per year (in addition to a smaller amount that is recycled). The amount mined is quite constant. Against that backdrop, the U.S. Geological Survey estimates there are only 52,000 tonnes of minable gold in… Read full this story
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