World could run out of minable gold in 20 yrs - report
“The combination of very low concentrations of metals in the Earth’s crust, and very few high-quality deposits, means some things are truly scarce,” Eugene King, European metals and mining analyst at Goldman Sachs, wrote in a recent research note quoted by Zero Hedge.
The reduction of precious metal deposits will lead to a sharp rise in prices, he said. Their “relative scarcity and the market’s belief that new discoveries will be limited, is what drives the price of these super-rare commodities.”
USAGOLD analyst Peter Grant says peak gold production will come soon.
“Peak gold is not a new concept at all,” he said to MarketWatch. “Mining output has been fairly flat for years, but new discoveries of gold have been falling rapidly.”