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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Follies who wrote (53947)	6/8/2000 5:34:00 PM
From: goldsheet	Read Replies (3) \| Respond to of 116762

> Anyone know the current value of all gold above ground? There is about 4 billion ounces of gold mind in human history, which would be worth $1.1 trillion dollars >Someone on the clown thread just said it was less than Bill Gates MSFT stock. Is that true? Not true, if Gates is worth "ONLY" $50 billion, that would be under 5% of all mined gold The 261 million ounces in the US Treasury alone is worth $75 billion dollar.

To: Follies who wrote (53947)	6/8/2000 5:44:00 PM
From: Robert J Mullenbach	Respond to of 116762

<Anyone know the current value of all gold above ground? 10 mil per ton X 125,000 ton = 1.25 trillion $300 x 32,150 or almost $10 million for each average transaction of one ton of gold. A buyer of a ton of gold must therefore have $10 million available in a liquid bank account, where it would probably attract less that maximum interest and carry the cost of the transfer to the seller's bank. gold-eagle.com Of an estimated 128,000 tons of gold ever mined (Worldwide), about 15% is thought to have been lost, used in dissipative industrial uses, or otherwise unrecoverable or unaccounted for. Of the remaining 108,000 tons, an estimated 34,000 tons is official stocks held by central banks and about 74,000 tons is privately held as coin, bullion, and jewelry." It is the central bank gold that has helped create a problem. On first glance, having 34,000 tons of gold sitting in central bank vaults, approximately 27% of all the gold mined from the dawn of civilization, appears like a great overhang of supply to the present market. Add to that