So … like $12,000,000,000,000 of gold?
I'm not sure if that's more or less than I'd expect.
How much gold has been found in the world?
11–20 of 77 posts
Re: How much gold has been found in the world?
#12All of the gold discovered thus far would fit in a cube that is 23 meters wide on every side. This is exemplarily clear communication from a government agency.
(I believe the adverbial form would be "exemplarily", and for daily, "dailily")
Re: How much gold has been found in the world?
#13All of the gold discovered thus far would fit in a cube that is 23 meters wide on every side. This is exemplarily clear communication from a government agency.
It’s a bit redundant: every side is the same length on any cube.
Re: How much gold has been found in the world?
#14Re: How much gold has been found in the world?
#15Interesting that this question comes up on August 15th… the day Nixon took the US dollar (and thereby, all linked currencies) off the gold standard. About 244,000 metric tons of gold has been discovered to date (187,000 metric tons historically produced plus current underground reserves of 57,000 metric tons). Most of that gold has come from just three countries: China, Australia, and South Africa. The United States…
I guess nobody credible has verified Uganda's claim that they are sitting on cf. 320K tonnes of (currently underground unrefined) gold to be mined.[1]
All currently known above- and below- ground gold deposits, plus Uganda's claim, would require a cube that is cf. 35 meters wide on each side.
[1] https://www.reuters.com/article/uganda-gold-idUSKBN2NP17M
Re: How much gold has been found in the world?
#16Around 1/1000 worth of all printed currency in the world.
Ppl complain about bitcoin, but fiat is the same.
Re: How much gold has been found in the world?
#17Re: How much gold has been found in the world?
#18So … like $12,000,000,000,000 of gold? I'm not sure if that's more or less than I'd expect.
> I'm not sure if that's more or less than I'd expect.
Most people "owning" gold in the world hold paper gold that isn't backed by physical gold. And the paper gold volume traded on a daily basis is several orders of magnitude higher than the physical one.
So even if it's less physical gold than one would expect (I didn't check you maths btw), there's "more" to it than just the physical gold.
Re: How much gold has been found in the world?
#19Any idea how this compares to other similar elements (e.g., silver, platinum, and so on)?
What is there more of, but higher demand, such that its value is generally higher than gold?
Re: How much gold has been found in the world?
#20So … like $12,000,000,000,000 of gold? I'm not sure if that's more or less than I'd expect.
It's definitely less than the world's total GDP, considering that China and the USA are both at or above that. So, it would not be possible for every country to have a gold-backed currency without a major decline in wealth.
https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nomi...
(Disclaimer, I am in no way an economist :) )