There are an estimated 257,000 metric tons of gold on our planet.
Gold has fascinated humanity since the first gleams of the bright metal were found in the third millennium BC. The precious metal is rare, and its value is, in large part, derived from its scarcity but how scarce is it? Some experts argue that a mere 20% of the earth’s supply of raw gold remains.
We rely on gold for the phones, computers, and other devices that make modern life possible.
How Much Gold Has Been Mined?
In 2019, the World Gold Council estimated that 190,000 metric tons of gold have been mined historically, which would be worth more than $7.5 trillion. Some independent estimates around this number vary by as much as 20%, one thing is certain: We have mined a TON of gold.
As a testament to the scarcity and density of gold, if all 190,000 metric tons were joined to make a single cube, it would only be 23 meters wide on each of its six sides. While gold is not the densest metal known to humanity, it is the most malleable.
One ounce of fine gold could be hammered to a 0.000018 centimeter thick translucent sheet that covers 9 square meters. The same ounce of gold could be stretched into a wire that covers 50 miles.
Where are the Largest Gold Reserves?
Gold reserves are the gold held by national banks. They are held as a guarantee to noteholders and depositors and to support national currencies.
Top 10 Gold Holdings by Nation as of January 2024
| Rank | Country/Organization | Number of Metric Tons in Gold |
| 1 | United States of America | 8,133.5 |
| 2 | Germany | 3,352.6 |
| 3 | International Monetary Fund | 2,814.0 |
| 4 | Italy | 2,451.8 |
| 5 | France | 2,436.9 |
| 6 | Russia | 2,332.7 |
| 7 | China | 2,226.4 |
| 8 | Switzerland | 1,040.0 |
| 9 | Japan | 846.0 |
| 10 | India | 803.6 |
The largest gold reserves are not in a bank or vault. Around 45% of all gold above the ground is in the collective jewelry boxes of the globe.
Gold in the form of bars and coins, as well as gold in central banks, only accounts for 39% of the gold that has been produced.
Where are the Largest Gold Deposits?
An estimated 57,000 metric tons of gold have not yet been mined. Since this gold is in the ground, the total weight is speculative.
10 Largest Gold Mines by Production (2022)
| Rank | Country | Mine Name | Production in Troy Ounces |
| 1 | Russia | Olimpada Mine | 1,998,000 |
| 2 | Indonesia | Grasberg Mine | 1,798,000 |
| 3 | Uzbekistan | Muruntau Mine | 1,700,000 |
| 4 | United States | Carlin Trend | 1,571,000 |
| 5 | Australia | Boddington Mine | 813,000 |
| 6 | DR Congo | Kibali Gold Mine | 749,000 |
| 7 | Canada | Detour Lake Mine | 732,570 |
| 8 | United States | Cortez Gold Mine | 731,700 |
| 9 | Dominican Republic | Pueblo Viejo Mine | 713,300 |
| 10 | Papua New Guinea | Lihir Mine | 701,800 |
What Will We Do When the Gold Mines Run Out of Gold?
When there is no gold left in the mines, we may find small reserves in landfills around the globe.
Since gold does not tarnish, rust, or perish, you could say that gold is almost indestructible.
The electronics industry consumes 7-10% of all gold produced annually, which can be recovered from many recycled electronics. CPUs, the chips that drive computers, contain around 0.2 to 0.5 grams of gold each.
The oceans contain only trace amounts of gold at ten parts per quadrillion (1,000,000,000,000,000), but the seas are vast and have a volume of 1.335 billion kilometers. Some experts estimate up to 15,000 tons of gold in the world’s oceans.
