Activity Lesson 3

USA: 8133 tonnes, $450,362,907,993.28 USD

Today’s US stock is 8,133 metric tons.
At today’s gold spot price of $1,711.70, that’s $491,058,387,671.40.

Using the website below, find out how much gold your country’s central bank currently holds in its reserves.

8133.46 tonnes

Bulgaria - 40.83 tonnes, worth circa 2.5 billion $

USA 3/4/21
8133 Tonnes = 435 928.8 Mil USD

QI 2021:
Poland has 229 t of gold which is worth $13,89 B

1t=35273.368 Oz

So there is 8 077 601 Oz of gold

1 Oz cost 1720 USD

So total worth of gold in Poland in USD at 04/03/2021 is 13 893 329 240 USD

Find out how much gold your country’s central bank currently holds in its reserves, post the amount in tonnes and calculate the total current value in USD.

As of December 2020, the UK has 310 tonnes of gold in its central bank reserves. This equates to $55.53M per Metric Ton as of March 3rd, 2021.
To get the total value in USD, the calculation is: $55.53M x 310 and this equates to: $17.21B.

a shade under 20billion USD

I did not know Canada had no gold reserve. I never asked myself that question but was surprised to read that we did not have any.

Using the website below, find out how much gold your country’s central bank currently holds in its reserves. Post the amount in tonnes and calculate the total current value in USD.

Finland 49.14 Tonnes = 2.9 Billion USD

Hong Kong’s holds 2.08 tonnes of gold. Present value of gold per tonne is 1706.20 $/oz x 32,150.7oz/tonne = 54,855,524.34 $/Tonne

UK has 310 tonnes @ £30mil a tonne = £9,300,000,000 x 310 = $12865852500

Romania: 104 tones = 5.679.232.000 USD

Switzerland
Tons: 1’040
Value: 56’600’107’200 USD

32,000 ounces = 1Ton USD holdings 8,133 * (32,000*Gold Price ($1,693) ) = $440,613,408,000.00

Germany 3362 tonnes = 183603594.04 $

In my opinion this activity was very interesting. I discovered variable information and/ or data regarding the current calculation for the value of USA gold reserves and value in USD. Accordingly, the stipulated assignment and supplemental hyperlink revealed USA possessing 8133 tonnes as of December 2020. Therefore, one tonne (metric) gold converted to ounce (troy) equals 32,150.75 oz t (Traditional Oven, 2021). As of March 5th 2021 at 14:54 EST; today’s value spot price of gold is $1,698.70 (Kitco, 2021). Moreover, The USA has 8,133 tonnes of gold reserves as of December, 2020.
[(8,133 tonnes) multiplied by (32,150.75 oz t) = 261,482,057.833] multiplied by $1,698.70 =
$444,179,571,725.8521

According to our learning materials (which are outdated since 2020); gold price per ounce = $1701.06. Therefore the USD value for USA gold reserves equals = $444,179,571,725.8521

References
Kitco, (2021), Gold Price Today https://kitco.com
Trading Economics, (2020), Gold Reserves, Country-List. Retrieved From: https://tradingeconomics.com/country-list/gold-reserves
Gold Price Chart, (2020), Gold Price Chart. Retrieved From: https://goldprice.org/gold-price-chart.html
Traditional Oven, (2021), Cost of Gold Today. Retrieved From: https://www.traditionaloven.com/articles/search-results-for-traditional-oven

79.85 tonnes for :australia:

$4,788,131,813.80us

8133 tonnes
286,883,442 Ounces
$1,707.25/oz
$489,781,756,354,50 USA

Paraguay 8.19t
Around 447M usd