Above-ground metals vs. continental sovereign debt
USD trillions, 2015–2026. Edit any figure to model a scenario: edits stay on this device only. Download the file to replace the published data.
USD trillions · 2015–2026 · source: built-in baseline
| Metal | Cumulative historical mined | Permanently lost / dissipated | Active above-ground stock (2026) | Primary above-ground form & recovery notes |
|---|---|---|---|---|
| Gold (Au) | ~227,000 t | ~2% (~4,400 t) | ~222,600 t (7.16B oz) | Bullion, central bank reserves (17%), jewelry (45%), coins; 98% recoverable. |
| Silver (Ag) | ~1,825,000 t | ~67% (~1,225,000 t) | ~600,000 t (19.3B oz) | Bullion, coins, jewelry; ~67% permanently lost to landfill & industrial dispersion. |
| Copper (Cu) | ~555,000,000 t (post-1900) | ~17% (~95,000,000 t) | ~460,000,000 t | Active in-use stock in power grids, buildings, EVs & machinery (~83% recyclable). |
| Platinum (Pt) | ~10,500 t | ~24% (~2,500 t) | ~8,000 t (257M oz) | Investment bars, jewelry, industrial stock & recoverable autocatalysts. |
| Palladium (Pd) | ~9,800 t | ~27% (~2,600 t) | ~7,200 t (231M oz) | Autocatalyst fleet inventory, chemical stock, electronics & bullion. |
| Rhodium (Rh) | ~1,300 t | ~27% (~350 t) | ~950 t (30.5M oz) | High-melting-point NOx autocatalyst stock, glass/chemical apparatus & vaults. |
| Continent | 2015 debt | 2026 debt | 11-yr change | % of 2026 global total ($117.65T) | Primary sovereign issuers |
|---|---|---|---|---|---|
| North America | $20.8T | $44.8T | +$24.0T (115%) | 38.1% | US / CA / MX |
| Asia | $18.2T | $40.2T | +$22.0T (121%) | 34.2% | CN / JP / IN / SG / KR |
| Europe | $14.5T | $24.6T | +$10.1T (70%) | 20.9% | EU-27 / UK / CH / NO |
| South America | $2.2T | $4.5T | +$2.3T (105%) | 3.8% | BR / AR / CL / CO |
| Africa | $1.0T | $2.3T | +$1.3T (130%) | 2.0% | ZA / EG / NG |
| Oceania | $0.51T | $1.25T | +$0.74T (145%) | 1.1% | AU / NZ |
Informational macroeconomic & commodity stock model only; not investment advice. Above-ground metal valuations exclude permanently oxidised, landfilled, or dissipated industrial waste (~67% of historical silver & ~17% of post-1900 copper is permanently lost; ~98% of gold remains recoverable). Continental debt reflects General Government Gross Debt in nominal USD and excludes unfunded entitlement liabilities and private debt.
Sources: World Gold Council (WGC), USGS Mineral Commodity Summaries 2026, The Silver Institute / Metals Focus, International Copper Study Group (ICSG) & Fraunhofer ISI Anthropogenic Stock Model, WPIC & Johnson Matthey PGM Reviews, IMF World Economic Outlook & Fiscal Monitor (Oct 2026), World Bank WDI, BIS Credit Statistics, and US Treasury Fiscal Data API.
| Year | Gold | Silver | Copper | Platinum | Palladium | Rhodium | All metals | N. America | Asia | Europe | S. America | Africa | Oceania | All debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2015 | 9.288 | 57.210 | ||||||||||||
| 2016 | 10.435 | 60.850 | ||||||||||||
| 2017 | 11.165 | 64.390 | ||||||||||||
| 2018 | 11.610 | 68.120 | ||||||||||||
| 2019 | 13.085 | 71.660 | ||||||||||||
| 2020 | 15.970 | 84.880 | ||||||||||||
| 2021 | 17.790 | 89.640 | ||||||||||||
| 2022 | 17.570 | 93.180 | ||||||||||||
| 2023 | 18.880 | 98.640 | ||||||||||||
| 2024 | 23.490 | 104.300 | ||||||||||||
| 2025 | 29.445 | 110.820 | ||||||||||||
| 2026 | 38.270 | 117.650 |
Informational macroeconomic & commodity stock model only; not investment advice. Above-ground metal valuations exclude permanently oxidised, landfilled, or dissipated industrial waste (~67% of historical silver & ~17% of post-1900 copper is permanently lost; ~98% of gold remains recoverable). Continental debt reflects General Government Gross Debt in nominal USD and excludes unfunded entitlement liabilities and private debt.
Sources: World Gold Council (WGC), USGS Mineral Commodity Summaries 2026, The Silver Institute / Metals Focus, International Copper Study Group (ICSG) & Fraunhofer ISI Anthropogenic Stock Model, WPIC & Johnson Matthey PGM Reviews, IMF World Economic Outlook & Fiscal Monitor (Oct 2026), World Bank WDI, BIS Credit Statistics, and US Treasury Fiscal Data API.