It has been estimated that all the gold mined by the end of 2011 totalled 171,300 tonnes. At a price of US$1,500 per troy ounce, reached on 12 April 2013, one tonne of gold has a value of approximately US$48.2 million. The total value of all gold ever mined would exceed US$8.2 trillion at that valuation.
However, there are varying estimates of the total amount of gold mined to date, mainly because gold has been mined for thousands of years around the world. Another reason is that some countries are not particularly open about how much gold they are mining. In addition, it is difficult to account for gold output in illegal mining activities.
Gold Reserves - Wartime Relevance (Example from World War II)
Gold prices fell to a new 2-1/2-year low on Monday, weighed down by a sturdy dollar and prospects of further interest rate hikes by the US FederalReserve to bring down inflation. Spot gold fell 0.6% to $1,645.8 ... Gold prices have fallen more than 20% since scaling above the key ...
Bawumia noted after the meeting that “it was agreed that to help shore up the foreign exchange reserves of the Bank of Ghana, starting September 1st, the Bank of Ghana will purchase a portion of the output of the gold mining companies on a continuous basis at world market prices, but payment will be made in Ghana cedis”.
Mining companies in Ghana have pledged to sell at least 125,000 ounces of gold to Ghana's central bank in the last quarter of this year to augment the country's foreign reserves, a statement said Saturday.
For generations of investors, gold is often viewed as a safe haven from global uncertainty and market turbulence. Gold, along with other precious metals, is seen as a constant, tangible asset that will always have worth ... Gold is a global commodity, and its price is subject to the forces of global supply and demand ... Year-to-date, gold has fallen 8.1%.
Called Jerry Williams, my trusted gold and silver dealer ... ‘I can’t get gold or silver coins ... His advice followed another statement he made recently that gold is expensive, calling silver the best investment value today ... dollar from the gold standard in 1971, “the U.S.
Russia's foreign currency reserves ... Russia's international reserves are highly liquid foreign assets consisting of monetary gold, foreign currencies, and Special Drawing Rights, which are at the disposal of the Central Bank and the government.
The central bank regularly publishes updates on its reserves with a one-week lag ...Russia’s international reserves are highly liquid foreign assets consisting of monetary gold, foreign currencies, and Special Drawing Rights, which are at the disposal of the Central Bank and the government.
TIRUPATI. (TTD), the richest Hindu endowment body in the world, has announced that it owns 960 properties across the country valued at Rs 85,705 crore ... This is the first time in recent years that has officially given details its properties ... TTD has more than 14,000 crore in fixed deposits in various banks and nearly 14 tons of gold reserves ... .
Tickets for this special screening are all $7 for reserved floor seats (no balcony seating is available for this event) ... Reserved seat tickets range from $32 to $77 (plus taxes & fees), depending upon seating ... Reserved seat tickets range from $24 to $68 (plus taxes & fees), depending on seating.
The tidal wave of emotion released by Roger Federer's tearful farewell performance at London'sO2 Arena on Friday night travelled around the sporting world - and will continue to do so for some time ... Noticeably, however, the best shots are played against the best, as if he reserves gold for his peers, silver and bronze for the rest ... They knew ... .
MUMBAI.Extreme volatility across markets is pushing investors to be cautious, whether in stocks, bonds & fixed income, gold or a combination of these assets ...Market players said whenever the US FederalReserve hikes interest rates, money usually moves out of emerging markets that include India.
India's foreign exchange reserves declined for a seventh straight week, touching $545.652 billion in the week ending September 16, ReserveBank of India's data showed on Friday ... In the week ending September 16, the foreign currency assets stood at $484.901 billion, gold reserves at $38.186 billion and special drawing rights at $17.686 billion.