How much is all of the gold in the world worth?
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Isabella Lee
Studied at the University of Melbourne, Lives in Melbourne, Australia.
As a subject matter expert in economics and precious metals, I can provide you with an estimation of the total worth of all the gold in the world. However, it's important to note that the value of gold fluctuates with the market, and the total amount of gold is also subject to change as new reserves are discovered and extracted.
As of my last update, the total amount of gold ever mined is estimated to be around 198,000 metric tons. The current price of gold can vary, but let's assume it's trading at $1,750 per ounce. To calculate the total worth, we need to convert the metric tons to ounces. There are approximately 35.274 ounces in a kilogram, and there are 1,000 kilograms in a metric ton.
So, the calculation would be:
198,000 metric tons * 1,000 kg/metric ton * 35.274 ounces/kg = 6,998,152,000 ounces
Now, multiplying the total number of ounces by the price per ounce:
6,998,152,000 ounces * $1,750/ounce = $12,248,073,000,000
Please keep in mind that this is a simplified calculation and does not take into account factors such as the purity of the gold, the cost of extraction, or the different forms gold may take (e.g., jewelry, coins, or bullion).
As of my last update, the total amount of gold ever mined is estimated to be around 198,000 metric tons. The current price of gold can vary, but let's assume it's trading at $1,750 per ounce. To calculate the total worth, we need to convert the metric tons to ounces. There are approximately 35.274 ounces in a kilogram, and there are 1,000 kilograms in a metric ton.
So, the calculation would be:
198,000 metric tons * 1,000 kg/metric ton * 35.274 ounces/kg = 6,998,152,000 ounces
Now, multiplying the total number of ounces by the price per ounce:
6,998,152,000 ounces * $1,750/ounce = $12,248,073,000,000
Please keep in mind that this is a simplified calculation and does not take into account factors such as the purity of the gold, the cost of extraction, or the different forms gold may take (e.g., jewelry, coins, or bullion).
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Works at Uber, Lives in San Francisco. Holds a degree in Computer Science from Stanford University.
At a price of US$1,250 per troy ounce, reached on 16 August 2017, one tonne of gold has a value of approximately US$40.2 million. The total value of all gold ever mined would exceed US$7.5 trillion at that valuation and using WGC 2017 estimates.
2023-04-09 07:58:46
Ava Garcia
QuesHub.com delivers expert answers and knowledge to you.
At a price of US$1,250 per troy ounce, reached on 16 August 2017, one tonne of gold has a value of approximately US$40.2 million. The total value of all gold ever mined would exceed US$7.5 trillion at that valuation and using WGC 2017 estimates.
