Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: long-gone who wrote (18636)	9/12/1998 10:14:00 PM
From: Investor-ex!	Read Replies (3) \| Respond to of 116874

Hi RH, That was an interesting link. I'd never given much thought to the existing gold "float" before. If that stat is true, and there really are only 12,000 tons of gold out there (I assume above ground), then the following calculations would follow: 12,000 ton * 2,000 lb/ton = 24,000,000 lb 24,000,000 lb * 12 oz/lb = 288,000,000 oz 288,000,000 oz * ~285 US$/oz = 82,080,000,000 US$ Note that the entire gold stock can be purchased for a little over US$82 billion!! Can this possibly be right? A half-dozen hedge funds putting up 25% margin could lay claim to the entire gold float??