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Considering when you sell all the gold in Fort Knox all at once would pretty much crash gold's value. How much is the gold in Fort Knox really worth?
by yelnatz 13y ago
Considering when you sell all the gold in Fort Knox all at once would pretty much crash gold's value.
How much is the gold in Fort Knox really worth?
- toomuchtodo 13y agohttp://www.usmint.gov/about_the_mint/fun_facts/?action=fun_facts13 http://www.usmint.gov/about_the_mint/fun_facts/?action=fun_f... Amount of present gold holdings: 147.3 million ounces. The gold is held as an asset of the United States at book value of $42.22 per ounce. http://www.bloomberg.com/markets/commodities/futures/metals/ http://www.bloomberg.com/markets/commodities/futures/metals/ COMEX Gold Value: 1,250.40/per troy ounce 1 ounce = 0.911458333 troy ounces $167,875,968,689 USD You are correct. Selling that much gold at once would decimate the gold market.
- rtkwe 13y agoI'd find it really odd if the ounces they reference aren't troy ounces, which is the true de facto for precious metal weight quotes. To the true matter though is that valuing things by their liquid value is problematic especially when their liquidity isn't ever really going to be utilized.
- toomuchtodo 13y agoI sent a tweet to @usmint to find out. I'll update my post accordingly.