Chart - TA, page-3229

The current consensus is that we are at peak gold production right now.
Most of the gold currently mined is from old mines with less than half their reserves available.
New discoveries are not keeping up with current production levels.
If new technologies are to increase production, they are not yet known to mankind.

https://www.spglobal.com/marketintelligence/en/news-insights/research/gold-rrs-2022-surge-in-recent-discoveries

Global gold production near peak

Our research into the gold production pipeline shows future supply growth, if any, will be relatively minor over the next decade, with even the most optimistic view showing gold production declining by 2028. Although there are several reasons for this, a contributing factor is a lack of quality assets available for development. While nearly half the discoveries included in our analysis are not yet in production, only 33 have over 10 Moz of gold in reserves and resources — enough for a mine to produce over 200,000 ounces per year of gold over a significant mine life. But many of these assets have a long road to production, including feasibility studies and permitting, making them unlikely to have a near- or medium-term impact on the pipeline."