I've read that the IMF(International Monetary Fund) controls 99% of it (mostly by private banks worldwide I assume). I find it sturdy to believe that there is nothing significant amount of gold vanished in the ground worldwide. Any expert opinion on this subject?
Answers: Whoever said that 99% of gold is owned by the IMF is wrong. The number held by adjectives the central bank in the world is closer to 20-25%. The article below say 50,000 metric tons could be economically mined (about 40% of the existing total), but that number changes base on the price of gold. Say you own a site that becomes economical if the price of gold ingots is above $1,000. Even though you know it is there, you aren't going to develop it as long as gold ingots prices stay below $1,000. But if the price exceeds $1,000, and looks as if it'll stay there, consequently it becomes realistic to develop that site. So as gold's price goes greater, it figures that more gold ingots becomes viable to mine. The different happens if prices budge lower.
Most of the "easy" gold have already be mined. Most gold mines are in a minute over a mile deep and the percentage of gold ingots per ton on ore dug is low. It has be estimated that less than 1% of the world's gold ingots has be found. The problem is that it is not cost-effective in copious areas to go after it. From time to time somebody finds some "comfortable to mine" gold but to be exact rare. My Contact thefunnybloke9437962921, is an expert within the gold marketplace, He is a gold buyer. He estimates a 36 year supply is left unmined, surrounded by the ground. He recently get a best answer for another question on gold ingots in which he mentions this. The connection to it below.
Yes.
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Answers: Whoever said that 99% of gold is owned by the IMF is wrong. The number held by adjectives the central bank in the world is closer to 20-25%. The article below say 50,000 metric tons could be economically mined (about 40% of the existing total), but that number changes base on the price of gold. Say you own a site that becomes economical if the price of gold ingots is above $1,000. Even though you know it is there, you aren't going to develop it as long as gold ingots prices stay below $1,000. But if the price exceeds $1,000, and looks as if it'll stay there, consequently it becomes realistic to develop that site. So as gold's price goes greater, it figures that more gold ingots becomes viable to mine. The different happens if prices budge lower.
Most of the "easy" gold have already be mined. Most gold mines are in a minute over a mile deep and the percentage of gold ingots per ton on ore dug is low. It has be estimated that less than 1% of the world's gold ingots has be found. The problem is that it is not cost-effective in copious areas to go after it. From time to time somebody finds some "comfortable to mine" gold but to be exact rare. My Contact thefunnybloke9437962921, is an expert within the gold marketplace, He is a gold buyer. He estimates a 36 year supply is left unmined, surrounded by the ground. He recently get a best answer for another question on gold ingots in which he mentions this. The connection to it below.
Yes.
Resolved Questions: