Physical Gold

If (as suggested by Wikipedia) about 10 Billion ounces of gold have been mined in recorded history, the value of all the gold in the world at $ 1,300 a Troy ounce is about $ 13 Trillion dollars. US Gold reserves are only about 8,134 tons X 29,167 Troy ounces per ton = 237.2 million Troy ounces of gold. The value of US gold at $ 1,300 an ounce is $ 308.4 billion dollars. Relative to our national debt of about $ 22.2 Trillion dollars (and growing), the value of the gold held in US reserves is only about 1.3% of our national debt and all the gold ever mined in the world wouldn't even come close to paying off our national debt.

from Business Articles from EzineArticles.com https://ift.tt/2yBOgvb