We show that new mined supply is surprisingly unresponsive to prices. In addition, authoritative estimates suggest that about three quarters of the achievable world supply of gold has already been mined.
If global production of gold continues at a rate of 2,500 metric tons a year, and if the USGS is correct in its estimate that there are only 51,000 metric tons of exploitable gold reserves, then gold production will be exhausted in about 20 years.
Wednesday, December 19, 2012
The Golden Dilemma by Claude B. Erb, Campbell R. Harvey
The Golden Dilemma by Claude B. Erb, Campbell R. Harvey
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