Salient to Investors:
Warren Buffett says the total amount of mined gold in the world could fit into a cube with sides of 67 ft. Thomson Reuters GFMS estimates the amount at 171,300 tonnes, or a cube with sides of 68 ft.
Jan Skoyles at The Real Asset Company said Tutankhamen’s coffin alone was made from 1.5 tonnes of gold, while China is not open about how much gold it is mining and Colombia has a lot of illegal mining.
The US Geological Survey estimates there are 52,000 tonnes of minable gold still in the ground and more is likely to be discovered.
The British Geological Survey estimates 12% of current world gold production is used in technology manufacturing, where it is often used in such small quantities that it may no longer be economical to recycle it, so is being consumed for the first time in history.
Read the full article at http://www.bbc.co.uk/news/magazine-21969100
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