How Much Gold is Available in the World and Its Ratio to the Global Population

Gold has been a symbol of wealth, beauty, and power for thousands of years. It’s a rare and precious metal that is valued across cultures and used in everything from jewellery to technology and even finance. But have you ever wondered how much gold actually exists in the world and what that means when we break it down per person? Let’s dive into the world of gold to understand its availability and how it relates to the global population.

How Much Gold is There in the World?

According to the World Gold Council, as of 2024, the total amount of gold ever mined is estimated to be around 208,000 metric tonnes. This amount includes all the gold mined throughout history, from ancient civilizations to modern mining operations.

To put this into perspective, if all the gold ever mined were melted into a single cube, it would measure roughly 22 meters on each side. While this might seem like a lot, it’s actually surprisingly small given the metal’s importance in the global economy.

The Value of Gold in Dollars

Gold prices fluctuate due to market conditions, but as of 2024, the average price of gold is around $2400 per troy ounce. To estimate the total value of all the gold in the world, we can do some quick math:

• Total Gold in Ounces: 208,874 metric tons × 32,150.7 troy ounces per metric ton ≈ 6.71 billion troy ounces
• Total Value: 6.71 billion troy ounces × $2400 per ounce ≈ $16.1 trillion

This colossal figure highlights gold's significant impact on the global economy, making it one of the most valuable resources on the planet.

Gold’s Distribution in the World

Gold is not evenly distributed across the globe. It is found in various forms, such as jewellery, investment products like bars and coins, central bank reserves, and in industrial uses. Here’s a rough breakdown of where all this gold resides:

• Jewellery: Approximately 46% of the total gold is held in jewellery.
• Private Investment: Around 22% is held as private investments in the form of coins, bars, and ETFs.
• Central Banks: About 17% is held by central banks and other financial institutions as reserves.
• Industry: The remaining 15% is used in electronics, medical devices, and other industrial applications.

Gold Per Person: The Ratio of Gold to the World’s Population

The current global population is approximately 8 billion people. To understand the availability of gold per person, we can calculate the average amount of gold each individual could theoretically own.

1. Total Gold in Kilograms: 208,000 metric tonnes = 208,000,000 kilograms.
2. Gold per Person:

In simpler terms, this translates to 26 grams of gold per person, which is roughly equivalent to a gold ring.

What Does This Mean?

While 26 grams of gold per person might sound like a small amount, it highlights the rarity and value of gold. Most people own much less than this amount, and a significant portion of the world’s gold is concentrated in the hands of a few—such as governments, banks, and wealthy investors.

Challenges in Gold Distribution

• Geopolitical Factors: Gold reserves are often controlled by nations with significant mining operations, such as China, Australia, and Russia, which hold the lion's share of newly mined gold.
• Wealth Inequality: Gold ownership is not evenly distributed, with a small percentage of individuals and institutions holding the majority of gold reserves.
• Limited Supply: Unlike other resources, gold is finite and difficult to mine, making its distribution more unequal over time.

Conclusion

Gold’s scarcity and the way it is distributed make it one of the most coveted resources on the planet. With only 26 grams available per person globally, it’s no wonder gold remains a prized possession, symbolizing not just wealth, but also the uneven nature of resource distribution in our world. Understanding this distribution can provide insights into economic policies, investment strategies, and the ongoing allure of gold.

Whether in your jewellery box, your investment portfolio, or as a bar in a central bank vault, every bit of gold you see is a part of this global puzzle.