Peak gold is a very deep subject. Just when you think you finally understand it all, a new wrinkle emerges. Recently the world faced down peak oil, with US output doubling the 2007 lows in 2017 thanks to technologies unknown when peak oil was first predicted in 1970. Will the same be true for our gold supply?
Gold is, after all, much more rare than oil in terms of weight; one fascinating tidbit about gold is that there is less gold above ground than one hour’s worth of crude steel production. Back in May the CEO of one major gold miner declared “we found it all”, seeming to affirm peak gold theorists.
Others say there is still plenty of gold out there, pointing at other factors giving the illusion of peak gold. There’s no doubt gold mining processes have improved so that more gold can be extracted than ever before, but will it be enough to push back peak gold?