Fifty years ago, you would get about 12 grams of gold for every ton of rock you pulled out of a mine. Today? To get the same amount of gold — barely enough to make a thin tie clip — you need FOUR TIMES that amount of ore. Or four tons, the same weight as a large SUV truck.
Just to get enough to make a gold wedding band, miners process over 20 tons of ore!
Any way you add it up, gold is physically harder to get. And the same goes for silver, most of which comes up as a byproduct of gold mining. And this is an undeniable NEW driver behind the rising price of today’s gold.
Take a look at the chart below of global gold production over the last 10 years.
Tanking gold production means a huge gap between supply and demand. And that alone could mean another huge spike in wealth-making opportunity.
Think about this…
Once, the U.S. was the world’s top gold producer. Not anymore — now China holds the title. Meanwhile, we’re getting 100 FEWER metric tons of gold out of our mines than we did just 10 years ago, in the year 2000.
South Africa was also once the world’s top gold producer in the world. Today, they get half as much out of the ground as they did back in 1970 — and they’ve just posted their weakest gold production year since 1956! One South African geologist explained it this way, “Our mines are getting too deep,” he said. “It’s too expensive to recover the ore. We could see a collapse of South African gold output, and I mean sooner rather than later.”
Once, you could find glinting gold nuggets in mountain streams. Today you might have to dig as deep as 14,000 feet… and still you could come up with nothing!
NONE of this was on the radar screen, the last time around. It appears to me we have already entered a period of PEAK GOLD & SILVER!!