The World’s Gold first appeared on Floating Path.
The total amount of mined gold in the entire world is somewhere in the ballpark of 175,000 metric tonnes (1,2,3,4,5). There are 32,151.7466 troy ounces in a tonne, giving us a total of 5,626,380,655 troy ounces of gold in existence.
After peaking in August 2011 at $1,826, the price per troy ounce of gold today is about $1,206. That means the value of all the gold in the world today is approximately $6.788 trillion.
Voss Capital is betting on a housing market boom
The Voss Value Fund was up 4.09% net for the second quarter, while the Voss Value Offshore Fund was up 3.93%. The Russell 2000 returned 25.42%, the Russell 2000 Value returned 18.24%, and the S&P 500 gained 20.54%. In July, the funds did much better with a return of 15.25% for the Voss Value Fund Read More
As pointed out by @RudyHavenstein, there is a possibility that the U.S. Federal Reserve could end up carrying more assets on its balance sheet than the total value of gold in existence, should the price of gold continue to decline (or the Fed’s assets continue to increase).
The Fed is currently sitting on $4.408 trillion in reserves, which means that its balances would surpass the gold market at a gold price of $783.42 per troy ounce.