According to known reserves, estimates suggest that gold mining could become economically unsustainable in 2050, although discoveries of new veins are likely to delay that date a little. Although new gold mines are still being found, discoveries of large deposits are increasingly rare, experts say. With the current economic climate, many investors have turned to investing in IRA Gold and Silver as a way to protect their savings from currency degradation. Today, the United States Government and its Federal Reserve System print money almost ad hoc, have signed huge rescue packages for their citizens, have kept interest rates at just under 1%, and currency degradation is also taking place.
They are not the only ones doing it in any way, but for global economic purposes, what “matters” most is the United States. Then there is the deterioration of the relationship between the U.S. The United States and China, the upcoming US presidential elections, the unprecedented slowdown in most of the world's economies and the uncertainty about the future caused by the global health pandemic. Gold is increasingly scarce in the world, and scarcity drives up the price. Of course, many people who already have a lot of gold and gold traders believe that this scarcity is a good thing that will continue to keep spot gold prices high.
But let's stop for a moment and find out how much gold is left on the planet that hasn't been mined yet. Several industry experts and magnates, including the president of Canadian mining company Goldcorp, Ian Telfer, have predicted a perpetual decline in gold production from its current peak.