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The standard gold bar held and traded internationally by central banks and bullion dealers is the Good Delivery bar with a 400 ozt (12.4 kg; 27.4 lb) nominal weight. However, its precise gold content is permitted to vary between 350 ozt (10.9 kg; 24.0 lb) and 430 ozt (13.4 kg; 29.5 lb). The minimum purity required is 99.5% gold.
The World Gold Council estimates that all the gold ever mined, and that is accounted for, totalled 190,040 metric tons in 2019 [1] but other independent estimates vary by as much as 20%. [2] At a price of US$1,250 per troy ounce ($40 per gram ) reached on 16 August 2017, one metric ton of gold has a value of approximately $40.2 million.
World's gold from 1845 to 2013, in tonnes (metric tons in the U.S.) World's gold holdings per capita, in grams Gold holdings are the quantities of gold held by individuals, private corporations, or public entities as a store of value, an investment vehicle, or perceived as protection against hyperinflation and against financial and/or political upheavals.
In 1970, South Africa produced 995 tonnes or 32 million ounces of gold, two-thirds of the world's production of 47.5 million ounces. [2] Production figures are for primary mine production. In the US, for example, for the year 2011, secondary sources (new and old scrap) exceeded primary production. [3]
The December 2015 Proven and Probable Reserve was 2.8 million tons of ore at 0.198 ounces of gold per ton (6.16 g/t) with 560,000 troy ounces (17,000 kg) of contained gold out of a total identified resource, inclusive of the Proven and Probable Reserve, of 6.7 million tons at 0.263 ounces of gold per ton (8.18 g/t).
Investors should 'go for gold' as Fed rate cut looms, Goldman says ... The firm maintains a 2025 target of $2,700 per ounce and issued a "long gold" recommendation. A stack of 1 kilogram gold ...
Troy weights were first used in England in the 15th century and were made official for gold and silver in 1527. [1] The British Imperial system of weights and measures (also known as Imperial units ) was established in 1824, prior to which the troy weight system was a subset of pre-Imperial English units .
The gold ore was of medium quality, with a ratio of gold to ore in the range of 8.5 grams per ton. Extraction was to begin in 1987, with output anticipated at 700 kilograms of gold metal during the first two years of operation. Ity estimated an additional investment of CFA F2.3 billion to expand output to 700 kilograms of gold metal a year.