Something we must all remember is that the most part of the gold minted up to this day is held by Central Banks and by private investors who own significant amounts of this precious metal. Some research shows that the bars owned by individuals account for 236 tons of gold. The precious metal that has been minted up to now is still being used in proportion of 85%. What this means is that in our jewelry there might be gold that has been used by the Incans or even by an Aztec King.
Seeing that there is not so much gold left in the ground scientists have started to look for it in the sky. In 1998, a NEAR spacecraft passed close by to the asteroid Eros and unveiled some important data. The potato – shaped rock contains about 3 % metal. Taking into consideration the size of the asteroid, NASA researchers say that it must contain about 20 billion tons of gold and similar amounts of aluminum and palladium.
Prospectors on Earth have developed new and improved methods of detecting gold. These methods greatly increase the odds of finding the precious metal that has been overlooked in the past. Some gold deposits have already been discovered and the mining process has begun.
Today, more than in the past, mining companies will have to be more careful and be more attentive with the environment. For the extraction of a single ounce of gold, 250 tons of rock has to be removed. There is also the problem with the cyanide solution that is used for the extraction and refining procedures. But the companies that are using these questionable procedures will be soon alienated by jewelers.
Problems like this one will surely not stop the demand for gold. But maybe it will make us think about our life, our heritage and our history. Also, all this talk about gold must have opened our appetite to invest in the yellow metal.
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