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Just How Scarce is Gold?
According to a report in News18, a recent geological survey has uncovered more than 3,000 tonnes of gold in India. The government of the state of Uttar Pradesh is looking to auction the gold off before it’s even out of the ground. That's three times the current Gold Reserves of India -
According to a report by the World Gold Council, around 190,000 tonnes of gold have been mined globally to date. The recent discovery in India, therefore represents an instant two percent increase on total circulating supply of the asset.
There is a huge amount of gold many miles beneath every one of our feet. According to an ABC Science article, there is enough gold at the core of the earth to cover the planet entirely with a half metre layer.
That doesn’t consider gold that’s certainly out there in the universe. As NewsBTC recently previously reported, NASA detected a massive asteroid (between Mars and Jupiter) containing around $10 quadrillion worth of gold last year. The space agency also says it is going after the loot in 2022."
The gold layer will be used to reflect the sun's heat and avoid using ATM for cash. Bitcoin will either rise or fall in price.