Not enough for everyone

       Now that gold has climbed to a record high of US$1,048 (Bt35,100) per ounce, many people are clamouring for this barbarian metal.
       Obviously, gold is a natural hedge against the wobbling US dollar and also future inflation. As the US continues to pile up debt and the Federal Reserve cranks up its printing machine, investors have turned to gold as a protector of their wealth.
       But the question is whether there is enough of the precious metal out there to go around, assuming we all want a gold coin or two.
       Jeff Clark, senior editor of Caseyกฆs Gold & Resource Report, in its September 25 edition said there would not be enough gold to satisfy demand for everyone on the planet.
       According to the US Census Bureau, there are 6.78 billion Earthlings. Meanwhile, the CPM Group, a highly respected industry organisation, estimates there are 4.8 billion ounces of above-ground gold in the world. And this includes jewellery, electronics and dental,กจ he said.
       So even if everyone around the world volunteered to have their chain, cross or tooth melted into a coin, weกฆre already short. Those towards the end of the line are out of luck.กจ
       The gold supply out there is very limited indeed. Of all the physical metal ever mined:
       Some 2.1 billion ounces, or 43 per cent, are found in jewellery and decorative and religious items.
       Private stock กV gold already held by private parties กV accounts for 1.1 billion ounces.
       Official reserves (central banks, International Monetary Fund, etc) stand at 1 billion ounces.
       Industrial use accounts for 530 million ounces.
       So for the general public, there is very little gold available for purchase in coin form.
       After all, youกฆre not selling any of your gold, and neither are many banks or institutions. Most everyone is buying,กจ Clark said.
       So for those who donกฆt yet have a gold coin (or you greedy investors who want more than one), this pretty much leaves us with mine production and scrap sources.
       It is forecast that total new supply in 2009 will be around 122 million ounces. Only a small percentage of this is made into gold coins and bars, but if all of it were, it would amount to less than two one-hundredths of an ounce, or about half a gram, for every man, woman and child on Earth this year.