....
“While this price rise was driven by gold traders, it begs the question about the supply of the precious metal, and when it will eventually run out.
Gold is in hot demand as an investment, a status symbol, and a key component in many electronic products.
But it's also a finite resource, and there will eventually come a stage when there is none left to be mined.
Peak gold
Experts talk about the concept of peak gold - when we have mined the most we ever can in any one year. Some believe we may have already reached that point.
Gold mine production totalled 3,531 tonnes in 2019, 1% lower than in 2018, according to the World Gold Council. This is the first annual decline in production since 2008.”

Full article at
https://www.bbc.com/news/business-54230737

To get more gold, they just have to go deeper. Going deeper may not be financially viable. That does not mean there is no more gold.

Not so. There have been recent discoveries of major tier one gold deposits, now under development, principally in Western Australia and elsewhere in Australia, at near surface depths and very suitable for open cut mining. Just look for example at the discoveries by De Gray with ASX Ticker of DEG. Ditto for dual Australian ASX and Toronto listed AUTech and it's high yielding deposits in Canada. There are others, too, for those following the gold explorers/developer scene.

OML

well, the World Gold Council would say that, wouldn't they?

The reason oil supply is not going to run out as predicted
is because everybody thought ever increasing demand was set in stone. It was thought irreplaceable.
but suddenly everybody changed their mind. Cos it's not true. (imo)

Now they reckon it is demand that will run down, long before supply.
Hence the current and projected low prices.

I think gold demand is a more sure thing tho, for the long haul.
New tech, old tech, and a really strong, deep seated, cultural attachment.
and supply is always going to be there (so long as there is enough cyanide to produce it)

Diamonds???

Alex wrote: ↑Fri Sep 25, 2020 7:27 pm Just like with oil that should have looong run out already... It's all nonsense, nobody knows how much oil or gold there really is.

“BP is saying the quiet part loud: In the 2020 Energy Outlook report the energy giant published this week, it said that the world may have reached peak oil.”

Full: https://earther.gizmodo.com/bp-says-wev ... 1845064372

^^^
Just to be clear, Clemen
that is "peak oil demand" that BP has recently acknowledged.
not the "peak oil supply" that everyone was talking up just a couple of years ago.
(including by the oil companies, previously, who subtly fed this theory to boost the price and their company's value)

But Al-X is right ^^ in the sense that nobody really knows what surprises are going to pop up.
Very few people predicted this permanent change in the whole energy dynamic would arrive so rapidly.
New tech has bought us into the "Renewable's Epoch" so suddenly.

but eg another virus or something, could send us back to the stone age at any time
we know that now.

(hmm, maybe i'll up my gold holdings after all...)