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Is Gold Rare?

  1. 1,256 Posts.
    Interesting piece from www.gold-eagle.com

    Gold Corner

    Gold Occurrence & Statistics

    Gold is one of the rarest elements on earth. It is well documented the world's holdings accumulated during all recorded history to the present is only about 130,000 metric tons. Understandably, it is rather difficult for the average person to relate to this measurement. Suffice it to say that the total world's hoard of the shiny yellow metal will occupy a single cube 60 feet by 60 feet by 60 feet - which is equivalent to the approximate volume of three 12-room homes.

    Another way to appreciate gold's scarcity is to compare it to the annual steel production in the United States. According to the Iron and Steel Institute in Washington D.C., the American Steel Industry poured an average of 10,500 tons of steel per hour during all of 1995! In sharp contrast the world's annual gold mine production increases total holdings by only 2% per year. That's an average increase in the world's gold supply of a mere 2,400 tons per year - versus 10,500 tons of American steel per hour. Gold is indeed very, very rare.


 
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