Annual Mine Supply of Gold: Does it Matter?

There is a relative fixation in the gold industry on new gold mining supply, and the prospects of unextracted gold reserves running out within the next few decades. However, current in-ground gold reserves are not the full picture, since in-ground gold ‘resources’ are far larger still.

But beyond annual gold mining output, its important to remember that the world’s above-ground gold stocks, some 190,000 tonnes based on official figures, can come into play as supply sources if and when conditions merit this, and these above-ground stocks at all times underlie gold’s ability to act as a store of value and as a risk reducing portfolio diversifier.

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