How much gold is there in the world?

How much gold is there in the world?


Warren Buffett, one of the world's richest investors, says the total amount of gold in the world - the gold above ground, that is - could fit into a cube with sides of just 20m (67ft).xxx But is that all there is? And if so, how do we know?xxx A figure that is widely used by investors comes from Thomson Reuters GFMS, which produces an annual gold survey. Their latest figure for all the gold in the world is 171,300 tonnes - which is almost exactly the same as the amount in our super-villain's imaginary cube.xxx A cube made of 171,300 tonnes would be about 20.7m (68ft) on each side. Or to put it another way, it would reach to 9.8m above ground level if exactly covering Wimbledon Centre Court.xxx But not everyone agrees with the GFMS figures.xxx Estimates range from 155,244 tonnes, marginally less than the GFMS figure, to about 16 times that amount - 2.5 million tonnes.xxx That bigger figure would make a cube of sides 50m (166ft) long, or a column of gold towering 143m above Wimbledon centre court.

Comment: We were having a discussion yesterday from I Kings 10 which has the word "gold" 13 times

1 comment:

  1. Just for kicks, I calculated the dollar value of all that gold, and it appears to be something like a best estimate of about eight trillion dollars, which is about M2 for the U.S. dollar. So contrary to fiat money advocates, yes, there is enough gold in the world to back currencies if we chose to do so.


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