Above-Ground Gold Stocks
This article explores the trends of above-ground gold stocks and their critical role in technology, based on provided data and supplementary research. It offers a detailed analysis to comprehensively address all relevant aspects.
Key Points
- Above-ground gold stocks increased from approximately 168,246 tons in 2010 to 216,265 tons in 2024, driven primarily by growing demand.
- Gold usage in technology reached 326 tons in 2024, underscoring its importance in electronics and aerospace.
- Gold prices are unlikely to drop significantly due to its essential role in technology, including smartphones and spacecraft.
- Annual gold usage is around 3,500 tons, with data supporting sustained demand growth.
Trends in Above-Ground Gold Stocks
Above-ground gold stocks represent the total amount of gold mined and existing in forms such as jewelry, investment products, central bank reserves, and industrial applications. From 2010 to 2024, these stocks grew steadily from about 168,246 tons to 216,265 tons. This increase stems from ongoing mining and rising demand across industries. Annual gold production ranges from 3,000 to 3,500 tons, aligning with the reported usage of approximately 3,500 tons per year, indicating a consistent demand expansion.
Table 1: Above-Ground Gold Stocks from 2010 to 2024 by Category (in tons)
| Year | Jewelry | Official Sector | Private Investment | Gold Bars and Coins | Gold ETFs | Others | Total |
|---|---|---|---|---|---|---|---|
| 2010 | 84,072.6 | 28,979.2 | 31,211.1 | 28,942.5 | 2,268.6 | 23,982.8 | 168,245.7 |
| 2011 | 84,538.4 | 29,459.9 | 32,955.0 | 30,444.5 | 2,510.5 | 24,191.7 | 171,145.0 |
| 2012 | 85,042.5 | 30,029.1 | 34,569.9 | 31,766.9 | 2,803.0 | 24,415.4 | 174,056.9 |
| 2013 | 86,582.6 | 30,658.6 | 35,370.8 | 33,497.0 | 1,873.8 | 24,584.4 | 177,196.3 |
| 2014 | 87,996.8 | 31,259.7 | 36,275.5 | 34,564.0 | 1,711.5 | 25,041.0 | 180,573.0 |
| 2015 | 89,409.0 | 31,839.3 | 37,242.9 | 35,655.0 | 1,587.9 | 25,457.1 | 183,948.2 |
| 2016 | 90,195.6 | 32,234.1 | 38,859.1 | 36,728.1 | 2,131.0 | 26,213.2 | 187,502.1 |
| 2017 | 91,340.5 | 32,612.7 | 40,174.1 | 37,772.4 | 2,401.7 | 26,929.9 | 191,057.2 |
| 2018 | 92,498.5 | 33,268.9 | 41,335.0 | 38,863.1 | 2,472.0 | 27,601.5 | 194,703.9 |
| 2019 | 93,374.7 | 33,874.3 | 42,609.7 | 39,734.1 | 2,875.6 | 28,456.5 | 198,315.1 |
| 2020 | 93,405.3 | 34,129.3 | 44,404.5 | 40,636.4 | 3,768.1 | 29,823.4 | 201,762.6 |
| 2021 | 94,500.4 | 34,579.4 | 45,396.1 | 41,816.7 | 3,579.3 | 30,854.2 | 205,330.0 |
| 2022 | 95,559.3 | 35,659.4 | 46,508.6 | 43,038.8 | 3,469.8 | 31,222.1 | 208,949.4 |
| 2023 | 96,515.9 | 36,710.2 | 47,454.1 | 44,228.6 | 3,225.6 | 31,980.7 | 212,660.9 |
| 2024 | 97,149.4 | 37,754.8 | 48,633.7 | 45,414.9 | 3,218.8 | 32,727.5 | 216,265.4 |
The data highlights that jewelry and investment categories (including gold bars, coins, and ETFs) dominate above-ground gold stocks, with official sector reserves and other uses also contributing significantly.
The Role of Gold in Technology
Gold's exceptional conductivity, corrosion resistance, and malleability make it vital in modern technology. In 2024, technology demand hit 326 tons, driven by its use in electronics (e.g., smartphone and computer circuit boards) and aerospace (e.g., spacecraft thermal coatings). Gold also supports medical devices like diagnostic tools and dental fillings, as well as industrial catalysts. These applications, especially in AI and electronics, fuel ongoing demand growth.
Items Requiring Gold in Manufacturing
- Electronics: Connectors and circuit boards in smartphones, computers, and televisions.
- Aerospace: Thermal protection coatings and circuits in spacecraft.
- Medical Devices: Diagnostic tools, dental fillings, and certain therapeutic devices.
- Industrial Catalysts: Efficient catalysts in chemical reactions.
Stability of Gold Prices
Gold's critical role in technology prevents significant price drops. High demand from tech, alongside jewelry and investment sectors, maintains price stability. In 2024, gold hit an average price of $2,386 per ounce, reinforcing its value as a strategic asset.
Frequently Asked Questions
What are above-ground gold stocks?
Above-ground gold stocks refer to all gold mined and existing in forms like jewelry, investment products, central bank reserves, and industrial uses.
How have above-ground gold stocks changed over the past 15 years?
From 2010 to 2024, stocks rose from about 168,246 tons to 216,265 tons, reflecting steady growth.
Why is gold important in technology?
Gold's conductivity, durability, and flexibility make it essential for electronics, aerospace, and medical devices.
What specific items require gold in their manufacturing?
Examples include smartphones, computers, spacecraft, medical devices, and industrial catalysts.
Does the increased use of gold in technology affect its price?
Yes, rising tech demand, combined with investment needs, supports or boosts gold prices, especially as technology advances.
Conclusion
Over the past 15 years, above-ground gold stocks grew from 168,246 tons in 2010 to 216,265 tons in 2024, driven by mining and demand. Gold's pivotal role in technology, particularly electronics and aerospace, ensures its relevance. In 2024, tech demand growth and price stability at $2,386 per ounce affirm gold's strategic importance.