GREY:ALXDF - Post by User
Post by
nelson11on May 08, 2018 5:21am
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Post# 27995543
Supply of Gold Depleting
Supply of Gold Depleting Authored by Lawrence Thomas via GoldTelegraph.com,
The demand for gold is increasing, yet new discoveries of the precious metal have not kept pace with the demand. Funds for exploration are historically high, $54.3 billion, up 60 percent over the past 18 years.
The increased spending, however, has not produced the equivalent in new gold discoveries. During the past decade, 41 discoveries have resulted in a mere 215.5 million ounces of the precious metal. Even counting recently discovered but unexplored mines, which may hold as-yet major discoveries, the total available amount of gold in these discoveries are not expected to surpass 363 million ounces over the next ten years.