Peak Gold?

Leon: I'm very confused.... If people are buying gold that would create demand... and in place of greater demand the price point of any said item will rise.

If one is "shorting" a commodity they actually make money as there is a decline in the price of the commodity..

So why would an Bank want you to buy something if they're shorting it? Please write slow as I read things very slow and it takes me awhile to really understand....

ELL OH ELL peak gold
Somewhere in space there is an asteroid full of gold.
It's not like oil which gets used up and never again can be used again. Gold has the advantage of being able to retain a good 90%+ of the element if you're smart about it. People keep gold for years, and when the chips are down they trade it away to people who have all the chips. The gold doesn't evaporate; it just gets transferred. What drives the price is demand and sellable supply on the market.
Twenty years of gold left on the planet is pretty laughable to me. Maybe because I see it everyday. Think about it. That means that people have to hoard huge amounts for twenty years and that "new" people born have to get the bug. If you believe in the dollar, that is, cheap inflated units of account, then you will sell your most prized pieces for dollars when the commodity price is high enough - that's the scam of the dollar, you see high numbers instead of tangible goods. That's all from me today.

Gold is the 19th most abundant element in the Earth's crust.
All Goldman Sachs is trying to do, is to 'talk up' gold.
Can't blame them for attempting to do that!
'Peak gold' simply cannot happen: there is simply far too much of the stuff.

Crude oil reserves are much scarcer.

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'Peak oil' came in 2012, where the finding of new oil reserves became scarcer, rather than more common; at the same time the demand for oil increased at a faster rate after 2012.

The only reasons why the oil price has declined is that
Russia has found it more financially difficult to support the separatists in Ukraine, so the U.S. energy production with shale oil and frack gas, and the Saudis increased production as well as lowering their crude price. All other energy producers were forced to follow suit, including Australia with their coal sales. That strategy has worked against Russia with reasonably good success, without the need of the U.S. or European countries to provide military support for the Ukrainians.

Lets hope that the underground water supply in the U.S. does not become irreparately polluted.

Sorry, Sel, but coinwatch is correct; gold is rarer than that. The Wikipedia list of elements by crust abundance puts gold down at number 72. Number 19 is tungsten.

Just because something is "abundant" does not necessarily mean that the metals are or should be easily obtainable. Aluminium and titanium are both very "abundant", but the minerals they are found in are very often in a form that is uneconomical to refine and process into the metal itself. Gold is gold, however, and has pretty much the same difficulty in extraction and refining wherever you find it; the only difference between an "economical" and an "uneconomical" gold deposit is the actual amount of gold present.

Nevertheless, one can take it as an axiom that the sources of "easy gold" are drying up; since WWII, the gold mining rate is only increasing linearly, while the global population still grows exponentially. As this happens, the price will tend to go up. As the price of gold goes up, known but "uneconomical" sources of gold suddenly become viable and old abandoned gold workings can get re-worked to extract a few more ounces out of them. All of which mitigates against the whole "Aaaaah! Only 20 years of gold left!" hypothesis.