Activity Lesson 3

US has 8134 tonnes of Gold
Price of Gold = $1720.00 / oz
1 Tonne = 35,273.96 oz per tonne
1 tonne per USD= $60,671,211.2
$60,671,211.2 X 8134 = $493,499,631,900

The US currently holds 8,134 tonnes of gold in its central bank. This amounts to:
$523,016,200,000 as 1 ton of gold = $64.3 million.

US Gold reserves is 8134 Metric Tonnes
1 Tonne @ 32,150.75 Troy oz.
1 Troy oz. = 1.097 oz.

8134 x 32,150.75 = 261,514,200 Troy oz. of gold is equal to
286,881,078 oz. of gold which multiplied by the current price of gold per oz. @ $1743.80 equals to $500,263,223,726.59 of value.

8,134 Tonnes

$453,804,319,360 U.S

But you have free healthcare

1 Like

Spain 282 tonnes
1 tonne at 35.274: 9.947.268
At 1.700USD
Total 16.910.355.600 USD

How much gold is in your country’s central bank’s reserves?

A: 8,134 tonnes x(32,150.7 oz/tonne) x ($1,743.95/oz) = over $456 billion total current value in USD

Germany: 3364t = 107.648.000 ounce

1743,55$ / ounce

Reserve = 187.689.670.400,00$

8134 tonnes, converts to ~454 billion USD

Poland 220 tonnes
32000 oz in 1 tonne
$56384000 For 1 tonne
220 tonnes = $ 12404480000

UK 310 tonnes $17.487273600 billion

To better understand key terms : I wanted to better understand the difference between “ton” and “tonne". They are both units of weight, however, a “ton” is a British and American measure, while a “tonne” is a metric measure. A “tonne” is equal to 1,000 kg. The North American ton (only used in the United States and Canada) is equal to 2,000 pounds or 907.1847 kg. (Great question for a trivia game) :rofl: … Now let’s move forward to calculate the answer.

The U.S has 8134 metric tonne of Gold which is the largest supply in the world.

35274 ounces x 8134 tonnes = 286,918,716 ounces of :crown:

286,918,716 ounces of :crown: x $1745.40 / price per ounce of :crown: = $500,187,926,906.40 total value of :crown:

1 Like

USA
8134 Ton at approx $523 Billion US Dollars

South Africa holds 125Tons = 32000 ounces per ton
Rough value:$1753.06 *32000 * 125 = $7 BIllion

All right a little confusing with converting tonnes to troy oz, but as far as I can tell there are 32,150.7 troy oz per tonne.
USA is the global hoarder with 8134 tonnes = 261,513,793.8 oz * $1766 USD/Oz (spot price on 23 June 2020) = $461,833,350,000.

Australia has 80 tonnes * 32,150.7 = 2,572,056 oz * $1766 USD/Oz = $4,542,250,896.
But Australia holds its gold reserves in London, and these reserves have not been audited in several decades and the government refuses to do an audit. Why London? Thats the center of gold trade. But the governement says it has no intention of trading it because its a strategic reserve. So why London and not Canberra?

In days of old we used to say “you can take that to the bank” or “its as safe as money in the bank”, perhaps in the future we will say “you can take that to your Ledger” or “its as safe as the blockchain”.

$‭454,202,560,000‬ for the USA

($1745 per oz) x (16 oz/lbs) x (2000 lbs/tonne) x (8134 tonnes in USA)

The US has 8134 metric tons of gold. At 32150.75 troy ounces per ton, this is 261,514,200.5oz.
The current price per ounce is $1766.44, so the total value is $461,949,144,331.22 (~$462 billion).

According to the Fed website, “As of June 10, 2020, there was $1.91 trillion worth of Federal Reserve notes in circulation.”

Pretty staggering difference there.

Romania has 104 tones of gold that means we have 4 836 000 000 $ worth of gold

Ireland has 6 tonnes.
32.15 x 6000 = 192,900 oz x $1773 price = $342,011,700

United States:
8133.50 tonnes * 35274 (oz) * $1,765.36 per oz = $506,483,688,823.44

Haiti
1.80 tonnes * 35274 (oz) * $1,765.36 per oz = $112,088,385.552