Activity Lesson 3

Activity 3

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

(https://tradingeconomics.com/country-list/gold-reserves)

Post the amount in tonnes and calculate the total current value in USD.

United Kingdom
310 tonnes of Gold.

1 ounce of gold currently at £1375.08

9,920,000 * £1375.08 = £13,640,793,600

In USD this will be $17105964398.21

Hopefully I did this right, but I got $399,541,942,473.1749 for the US

7383923.19 (Kilo) × 54109.71

Approx 7 Bn USD, Sweden.

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Unfortunately New Zealand does not have any gold reserves apparently.

$US 4,797,258,900 - Australia

Lebanon, 287 Tonnes with a value of approximately 16Bn

Germany 3364 tonns of gold worth 185,700,000,000 USD 185.7 Billion

I was positive surprised Germany is in second place, I hope the gold is in Germany not in US :wink:
It´s interesting Italy is in place 3 now in Corona times.
I was shocked that UK just has less than 1/10 of Germany.

Norway - 0

sold all our gold, prob have 1 or a couple of bars for museum I think

UK has 310 Tonnes (32150 Troy ounces) of gold worth $54,655,000 (at $1700/oz). A tad worried by how little we have :fearful:

USA has 8134 tonnes at $1729.80/oz = 55,613,070 USD worth of gold.

USA has 8134 tonnes of gold reserves
1 tonne = 32,150.75 troy ounces of gold
1 troy ounce of gold is worth $1,730.80
== USA has $452,628,778,225.40 worth of Gold Reserves at today’s prices.

United Kingdom 310 tonnes

gold price per tonne: $50,530,000 (16/06/2020)

310 * 50,530,000 = $15,664,300,000

15.6B USD

Slovenia has 3,2t of gold which with price of 1700usd/kg equals to 5.440.000 usd

Japan has 765 tons of gold which is the value of 42,637,466,250 USD.

italy.

2452,

p/oz = 1733

tot= 13 billions

$523,016,200,000 for the USA

In Latvia they have around 6.7 Tonnes of Gold which equals to around $372 million.

42.2 tonnes x 55.59 million fiat US dollars = $ 2,346,320,000

The Netherlands: 612 tonnes
1726 $/oz
1 ton = 32 000 oz
612 * 32 000 = 19 584 000
19 584 000 * 1726 = 33.801.984.000‬
~ 33.8 billion USD

8134 in reserve, 1726.65 per oz, 449,426,275,200 US