How much gold is out there?

Gold is rare. In fact, only about 244,000 metric tons of gold have ever been discovered. Nearly 57,000 metric tons of that discovered gold resides in underground gold reserves. It’s estimated that a further 187,000 tons of gold have been mined throughout history and used for other purposes, like private investment and jewellery.

For context, if we amassed all of the world’s gold in a single space, it would only equal three-quarters of the Empire State Building’s weight.

But, over the last 50 years, demand for gold has increased dramatically. In addition to traditional sources of demand, like jewellery and investment, gold is also essential to the technology, medical, and aerospace industries — which have all seen huge growth since 1971.

With only around 3,500 tons mined annually in recent years, gold’s scarcity keeps driving its long-term performance as an investment asset. And, because gold commands such a huge market, it is used as a strategic asset by investors and central banks alike.

The world is also increasingly invested in recycling gold and producing a sustainable supply of the precious metal to meet its varied sources of demand.

Find out more from the USGS and Goldhub.