There is always great prestige that comes the precious metal, gold. Come to think of it, almost everything on earth has quantity, quality, time and space. Hence, if gold as precious as it is, gets exhausted one day together with its reserve, what would happen and how would it also affect the general stock market?
THE CURRENT STATE OF GOLD
In order to know the estimate of gold left in the world, there is a need to know the main source of gold. Witwatersrand basin which is located at South Africa has the largest single source of gold for a very long time running. The stored gold is about 50% of the world gold that have been mined. There are places in China, Australia, USA, Canada, Russia and Peru were gold is widely mined. Among all these countries, they all provides a yearly production of about 2,500 to 3,000 tons of newly mined gold. However, experts believe that that total number of gold deposits in the world is 190,000 tons.
Is it possible that there are chances that there will be more gold deposits to be uncovered? Since there is a great indication that the old gold mines are those producing more gold instead, in addition to few new ones? This is absolutely clear that the source of gold is being over exploited. Nevertheless, there are still new gold mining centres in locations that are presently beyond reach. This is because the current discoveries or technological inventions are may not be able to take care of the new mining areas. This is solely because the deposits are far beyond the earth. Most of them are found in Oceans.
Also at the moment, it is not economically viable to mine them, which can only be possible when the price of gold goes up exponentially. Since the supply is limited, the demand will also increase, hence bringing about an increase in price. With that, there will be enough money that available to sponsor the invention of new technologies that can ease and make the process very much possible.
With the current trend, the mining of gold may eventually ends, except there are enough efforts intensified to tap and extract from the new locations, it has been estimated that by the year 2050, it might be economically unsustainable, but could also pushed forward with the discovery of more locations. Should these reserves get depleted, the price of gold will also shoot up due to low supply.
DIGITAL GOLD AND LOW SUPPLY OF PHYSICAL GOLD
Digital Gold is the digitalized form of gold and it is designed in such a way that the price is the same as real gold, but in a digitalized form.
There are many cryptocurrency gold projects, but I have not come across any that is proving that it has close relationship with physical gold until I came across Digital Gold (GOLD).
There are a lot of challenges that comes with most projects that claims to represent gold on blockchain technology. Digital Gold (GOLD) is very different from all other since it has all the qualities that makes it a true gold project on blockchain. The mere fact that it is backed with gold and that it is also provided with liquidity, the price of a Gold token does not fall short of that of physical gold price on the stock market. The unique Gold token is a very potent stablecoin because whatever happens to gold on the gold market will equally be the same for Digital Gold. Find out more here; https://gold.storage/
DIGITAL GOLD has limited tokens that is the total amount of gold that has been minted and purchased by investors. The developers only minted to meet the already available requirements for investors. In the initial stages, the number was 7200 GOLD tokens. This clearly shows that the Digital Gold venture is a realistic project. Its reputation is unique as the project is a self-funded one, unlike other blockchain based pro.
CONCLUSION
The limited supply of physical gold, would eventually bring an increase in the price of gold and that can also manifest in the limited amount of GOLD token. Investing in a GOLD token is, therefore, a clear representation of investing in physical gold.
Find more about this project by following the links below;
Website : https://gold.storage
Whitetpaper: https://gold.storage/wp.pdf
BitcoinTalk ANN : https://bitcointalk.org/index.php?topic=5161544.0
Medium : https://medium.com/@digitalgoldcoin
Telegram : https://t.me/digitalgoldcoin
Twitter : https://twitter.com/gold_erc20
PROOF OF AUTHORSHIP
Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=2522304