Peak Gold? Goldman Calculates There Is Only 20 Years Of Gold Supply Left

27-Mar (ZeroHedge) — Late last year, when looking at a Goldcorp slideshow, we noticed something surprising: the gold miner had forecast that 2015 would be the year when gold production would peak among the mining industry.

…According to a report issued by Goldman’s Eugene King looking at commodity scarcity, the chart below “shows that there are only 20 years of known mineable reserves of gold and diamonds.”

…Of course, this analysis is meaningless in a vacuum: if the “known reserves” of gold plunge in the coming decade, no matter how many gold futures and GLD short sales are conducted by the BIS, the price will have to go up, and it will go up high enough to where a new surge of gold miners will come online and find thousands of new tons of gold reserves around the globe.

Unless they don’t, and Goldman is correct that “peak gold” may have arrived. This will be even more true if over the coming years the long overdue fiat economic panic finally washes over the globe, and a revulsion toward central bank policies forces a scramble into gold whose value (if not price since fiat currencies will be redundant) soars.

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