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All the gold in the world

Gold is valuable and that is largely due to it being a fairly rare element to be found in the nature on Earth. Many people know that, however, not everyone understands how unique and rare this metal is. For example, if you melt all the gold that has ever been mined for the entire history of mankind, you will get a cube with edges of only 21 meters long. Such a gold cube could easily fit into a tennis court leaving another 2 square meters of area uncovered. That, in principle, is how you can imagine and visualize all of the gold reserves in the world. It’s not without a reason that this precious metal is dealt with or rather has its records kept by a special organization - the World Gold Council. According to the analysis of the Council's experts, three years ago (as of the end of 2017) the total mass of all gold mined by people was 190,040 tons. The organization emphasized that this volume also includes all known historical artifacts made of this metal. On average, annually the gold mining industry does not enrich humanity by very much, bringing in only additional 2.5-3 thousand tons of gold per year. Scientists assure that there is still quite a lot of gold on Earth, however, the depth of its large deposits is so great that people won’t be able to reach them, at least with our modern-day capabilities. While the gold has been appreciated since ancient times, people began to mine it on an industrial scale quite recently. The organization's analysts have calculated that the largest volumes of gold mining became available after 1950. It was starting from that period when two thirds of the total volume of gold mined in the history of mankind was mined. Despite the fact that gold is the best instrument for financial investments, almost half of the current reserves of gold are in the jewelry possessed by the Earth’s population, which is approximately 47.7 percent of its total volume. The remaining underground reserves, according to specialists, amount to 54,000 tons.  Despite the significant growth in the volumes of gold mining in recent years, according to experts, in the next 8-10 years its pace will slow down and the volumes will noticeably decrease.


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