The reserves of gold and diamonds on Earth will end in 20 years
 Stocks at previously discovered and explored gold deposits will last for another two decades, according to the forecast of Goldman Sachs. This means that prices will rise. «The relative rarity and the belief of market participants that the probability of new discoveries is limited — that is what drives the prices of these goods. Take, for example, diamonds. The true value of the diamond is very small. Its price is determined by the belief that diamonds are rare and each of them, if we talk about natural diamonds, unique,» cites the words of Goldman Sachs analyst Eugene king edition of Market Watch. According to Goldman Sachs forecast that in 2015 the world production of gold may reach its peak, then begin to decline. Previously with a similar prediction was made by a canadian company Goldcorp, one of the largest gold producers in the world. According to her data, the production of gold in the world will peak in 2015, 20 years after 1995 were open record on their holdings of gold deposits, and by 2022 will sink to the level of the beginning of the XXI century. «Gold production has remained stable for many years, but the number of newly discovered oil fields all these years is declining rapidly. And if we do reach the peak of gold production in the near future, then it is reasonable to assume that this is a very positive impact on gold prices,» explained analyst at USAGOLD Peter Grant. The price of gold on the new York Mercantile exchange rose to about $1190 per ounce, which is, however, far from the record. In 2011 the price of gold reached $1889,7 per ounce. The average price of an ounce of gold in 2014 amounted to about $1266. According to the world gold Council (WSC), in 2014 gold production at the fields grew by 2% from 3050,7 to 3114,7 tonnes total gold production (including returned into circulation scrap jewelry, electronics and various equipment) amounted to 4278,2 tonnes, which is less than 5 t were higher than in 2013. The demand for gold from jewelers and industry declined, but Central banks of different countries has increased the volume of purchases of gold by almost 70 tons. All CB countries for the year was acquired 477,2 t gold, of which about 173 tons, according to VSS, bought the CBR, the total gold reserve which is estimated now in 1208,2 T. Gold mining in Russia in 2014, according to Thomson Reuters GFMS, grew by 7% and reached the level of 272 tons, which allowed Russia to oust Australia and take second place in the global ranking of countries — producers of gold. The leader is China, where the 2014 extracted 465,7 t gold. |
