Custom Search



How many ounces of gold are there in the world?

Posted by

How much gold is there in the world?

All told, humans have mined some 120,000 to 140,000 metric tons (1 metric ton = 1000 kilogram) of gold from the earth since the start of recorded history. Around 20-25% (30,000 metric tons) of this gold is hoarded by central banks, according to Taiba.ae. “The rest is privately owned jewelry (70,000-80,000 metric tons) and bullion (20,000 metric tons),” Taiba writes. “In other words, most of the world’s gold is in private hands. The amount of gold that is mined per year is comparatively stable at just above 2% of the worlds above ground gold (around 2,600 metric tons per year).”

That means there’s a worldwide supply of at least 3.8 billion ounces of gold in 2011. At today’s price of $1,369 per ounce, there’s some $4.3 trillion in gold trading on markets, locked away in vaults or being kept or worn as jewelry.

Related

Comments

comments

Powered by Facebook Comments

Tags: ,

Leave a Reply

Name and Email Address are required fields. Your email will not be published or shared with third parties.









Killer Articles

Top 10 best gold and silver ETF funds

Here’s a look at the Top 10 best gold and silver ETFs that trade on major U.S. exchanges. We’ve ranked them by volume, as some of the niche ETFs in the precious metals market are so... Read on.

3 reasons NOT to invest in Groupon’s IPO

An IPO date hasn’t been set, but here are three big warning signs you might want to consider before investing in Groupon’s stock... Read on.

From start-up to titan: The unofficial tech IPO calendar for 2012

From Facebook to Twitter to Groupon, the planned tech IPOs in 2012 could be among the most exciting string of new public companies... Read on.

How to invest in water stocks

Often overlooked as a commodity, water supplies could become increasingly critical as emerging economies around the world improve their diets and demand more agricultural resources for the production of meat... Read on.

World’s largest economies in 2050 will look very different

India’s rapid ascent to economic supremacy will be driven by a surging working age population, which will grow more than 40 percent between now and 2050... Read on.

How to invest in cotton stocks

If you’d like exposure to cotton markets without delving into futures and options contracts, a handful of cotton ETNs and cotton-related stocks are available... Read on.

How to buy Chinese Yuan

The Chinese yuan or renminbi has risen about 5 percent a year over the past five years, and some investors argue that China’s currency is still undervalued by 40 percent. If the dollar suffers ... Read on.

Five cheap franchises to start with less than $10,000

Franchises are so ubiquitous we often don’t realize we’re shopping at one. From McDonald’s to Hampton Inns and doggie day cares to campgrounds, they’re literally everywhere. All told, franchises account for 10.5 percent of all businesses in the U.S, and they... Read on.

Why invest in silver?

Ask 10 people why you should invest in gold and silver, and you’ll probably get 10 different answers – many of which will be accompanied by a shrug. Most investors don’t understand the motivation for holding gold or silver bullion. Nonetheless, it’s been difficult to ignore... Read on.

How to Invest in Copper

Copper isn’t as glitzy or glamorous as gold or silver, but in many ways it feels safer. Since copper is regularly used in electronics, it’s consumption per person (particularly in the developed world) has been on the rise for decades. So how does one invest in copper? Read on.