Finite resources
It is important to note that since records began, around 170,000 tonnes of pure gold have been mined. The world’s population currently stands at around 7 billion people. In relation to the amount of gold that is mined, each person on the planet could own approximately 24.29g of pure gold. So, you can see why gold is so valuable.
According to the current state of geological exploration, gold can be mined for about 20 more years, and silver for about 17 more years. Due to this short period, these two precious metals will steadily increase in value.
Industrial uses of both precious metals:
Gold
- Jewellery Industry
- Automotive industry (catalysts, electronics)
- Telecommunication (data chip coating)
- Luxury items (plating, coating)
- Restoration (plating)
- Medicinal use (gold teeth, joint implants)
- Investment gold (bars, coins, medals)
Silver
- Jewellery Industry
- Automotive industry (batteries, hybrid technologies, etc.)
- Consumer electronics (coating, vaporising of components)
- Household industry (antibacterial refrigerators, etc.)
- Medical use (coating of instruments, etc.)
- Functional clothing