Is there more silver or gold above ground?
Most studies agree gold is overall the more rare of the two metals; however, above ground silver is actually more rare than gold. Beneath the surface, silver is approximately 19x more abundant than gold. To date, over 1.5 million tonnes of silver have been mined.
How much does silver cost above ground?
And according to CPM Group, one of the most thorough research consultancies in the precious metals industry, there is approximately 53.15 billion ounces of above ground silver. That’s about seven ounces of silver for every earthling.
How much is gold above ground?
Between all of the gold sources in the world, current estimates suggest that roughly 2,500 to 3,000 tons of new gold is mined each year. At present, experts believe that the total amount of above ground gold in the world stands at just over 190,000 tons.
What is higher silver or gold?
Not only is gold worth significantly more per ounce than silver, but also it is the denser of the two metals, making a specified volume of gold worth far more than an equal volume of silver.
Does JP Morgan Own gold?
JP Morgan owns and operates one of the two large commercial gold vaults in central London, the other one being the HSBC vault. Along with the Bank of England vaults, JP Morgan and HSBC make up the three largest gold vaults in London.
Is silver rarer than gold?
Gold. Interestingly, above-ground silver is actually more rare than gold. In fact, almost all the gold that has been mined to this day is still here, and its use is largely limited to currency, portable wealth, and jewelry.
Why is silver included in above ground gold?
Silver jewelry should be included for the same reason gold jewelry is included in the above-ground stock of gold: if the price is right, jewelry can and will be sold into the market. We must conclude that the data from The Silver Institute is incomplete.
How much gold is above ground in the world?
For gold, the consensus is there are about 190,000 metric tonnes above ground, and yearly mine production amounts to 3,260 tonnes (2018). The above-ground stock divided by mine output is called the stock to flow ratio —an important variable for the price formation of commodities—which for gold is 58.
What’s the ratio of gold to silver in the world?
Currently, we humans mine about 8-parts of silver to 1-part of gold ore globally. The gold-silver ratio stands presently near a 30-year high above 90 and likely headed to 100 before returning to its historical mean and medians ahead.
When does silver outperform gold in a bull market?
Silver historically plays catch-up and outperforms gold in a more speculative environment, when the average ‘man on the street’ and even high net worth investors begin choosing silver bullion over gold bullion allocations. Look back to the bull markets of both 1980 and 2011 for illustrations of these stated facts.