How much is a brick of gold worth?
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Ethan Davis
Works at the International Committee of the Red Cross, Lives in Geneva, Switzerland.
As a domain expert in precious metals and commodities, I can provide you with an informed response to your question about the value of a brick of gold. The worth of a gold brick can vary significantly based on several factors, including the current market price of gold, the purity of the gold, the weight of the brick, and any additional costs such as fabrication or brand value.
To give you a general idea, as of my last update in early 2021, the price of gold was fluctuating around $1,750 per ounce. A standard gold brick can weigh anywhere from 400 troy ounces (12.4 kilograms) for a "Good Delivery" bar, which is the size used by the London Bullion Market Association (LBMA), to smaller sizes like 1 kilogram or even 100 grams for smaller investors. The value of a gold brick would be calculated by multiplying the weight of the brick by the current market price of gold per ounce.
However, it's important to note that the actual value can be influenced by the aforementioned factors, and the price of gold is subject to change constantly due to market conditions.
To give you a general idea, as of my last update in early 2021, the price of gold was fluctuating around $1,750 per ounce. A standard gold brick can weigh anywhere from 400 troy ounces (12.4 kilograms) for a "Good Delivery" bar, which is the size used by the London Bullion Market Association (LBMA), to smaller sizes like 1 kilogram or even 100 grams for smaller investors. The value of a gold brick would be calculated by multiplying the weight of the brick by the current market price of gold per ounce.
However, it's important to note that the actual value can be influenced by the aforementioned factors, and the price of gold is subject to change constantly due to market conditions.
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Works at the United Nations High Commissioner for Refugees (UNHCR), Lives in Geneva, Switzerland.
The standard gold bar held and traded internationally by central banks and bullion dealers is the Good Delivery bar with a 400 oz (troy-ounce) (12.4 kg or 438.9 ounces) nominal weight. When I checked the price per oz at 4:56pm EST gold was trading at $1266.90. So 400 X $1266 = $506,400 per gold brick.
2023-04-08 08:04:23
Mia Kim
QuesHub.com delivers expert answers and knowledge to you.
The standard gold bar held and traded internationally by central banks and bullion dealers is the Good Delivery bar with a 400 oz (troy-ounce) (12.4 kg or 438.9 ounces) nominal weight. When I checked the price per oz at 4:56pm EST gold was trading at $1266.90. So 400 X $1266 = $506,400 per gold brick.
