Gold is a finite resource. The world’s gold reserves are diminishing at an alarming rate and could be depleted within the next few decades. Here are some of the reasons why the world is running out of gold:
1. Gold Mining is Not Sustainable
Gold mining is not a sustainable industry. The gold that is mined each year is gradually depleting the world’s supply of gold. In addition, gold mining is a very polluting and energy-intensive process. The environmental impact of gold mining is devastating, and it is estimated that one-third of all gold ever mined has ended up in landfill sites.
2. Gold is Used in a Lot of Electronics
A significant amount of gold is used in electronic devices, such as smartphones, laptops, and TVs. As the demand for these devices increases, so does the demand for gold. It is estimated that there is around 7g of gold in a typical smartphone. With over 1.5 billion smartphones in use around the world, that’s a lot of gold!
3. Gold is Used in Jewelry
Jewelry is the biggest market for gold, accounting for around 50% of all gold demand. The problem is, most of this gold is not recycled and ends up in landfill sites. In addition, the mining of gold for jewelry is a major contributor to environmental pollution.
4. Gold is Used in Dentistry
Gold is a popular metal used in dentistry, due to its biocompatibility and resistance to corrosion. However, this means that a lot of gold is ending up in landfill sites when people have their teeth removed.
5. Gold is Used in Monetary Systems
Gold has been used as a form of currency for centuries. Even today, many countries maintain gold reserves as a part of their monetary system. This demand for gold creates a significant amount of demand, which is difficult to sustain.
The world is running out of gold, and it is a major problem. Gold is a finite resource that is being used up at an alarming rate. The mining of gold is damaging to the environment, and most of the gold that is mined ends up in landfill sites. In addition, gold is used in a lot of electronic devices and jewelry, which means that it is not being recycled. The demand for gold is unsustainable, and the world’s supply of gold could be depleted within the next few decades.