Looks like gold mined gets diverted to: 47% investment and central1 banks 45% je... | Hacker News

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patmcc on July 14, 2023 | parent | context | favorite | on: Binance lays off over 1k Employees

Looks like gold mined gets diverted to:

47% investment and central1 banks

45% jewellery

7% tech/industrial applications

See https://www.statista.com/statistics/299609/gold-demand-by-in... and https://natural-resources.canada.ca/our-natural-resources/mi... - don't exactly agree, but close.

(and, importantly, it doesn't require terawatt-hours to maintain gold once you've mined it).

RestlessMind on July 15, 2023 [–]

So basically, 92% of gold is purely due to social conditioning and invented belief.

> (and, importantly, it doesn't require terawatt-hours to maintain gold once you've mined it).

I am pretty sure collective security spent on gold worldwide exceeds terawatt hours once you account for all the physical security as well.

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