Gold Mining May Peak This Year, Collapse By 2035

SAN FRANCISCO (KCBS) - If you think diamonds and gold are rare now, just wait another two decades.

A Goldman Sachs research note predicts that the world's known minable reserves of gold, diamonds and zinc will run out in twenty years, and that platinum, copper and nickel reserves have about forty years of mining left.

The note makes the claim on the basis that there are very low concentrations of metals in the earth's crust, and very few high-quality deposits.

ZeroHedge is also reporting that miners expect 2015 to be a peak in gold mining production, further depleting reserves.

Gold up slightly Tuesday to about $1,187 per ounce.