{"id":529,"date":"2014-04-22T07:12:15","date_gmt":"2014-04-22T07:12:15","guid":{"rendered":"http:\/\/www.asadkarim.co.uk\/?p=529"},"modified":"2014-04-22T07:36:04","modified_gmt":"2014-04-22T07:36:04","slug":"the-total-amount-of-gold","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=529","title":{"rendered":"The Total Amount of Gold."},"content":{"rendered":"<p>Gold is a beautiful precious metal.\u00a0 It is often considered a safe option for investment, and is also known as hedge against inflation. The approximate value today is US$1299.25 per ounce. That is about \u00a3772 per ounce.<\/p>\n<p>A great place to read about Gold is from Thomson Reuters GFMS (Gold Fields Mineral Services).<\/p>\n<p>[<a title=\"Thomson Reuters GFMS\" href=\"https:\/\/thomsonreuterseikon.com\/markets\/commodities\/gfms\/\" target=\"_blank\">https:\/\/thomsonreuterseikon.com\/markets\/commodities\/gfms\/<\/a>]<\/p>\n<p>Some interesting statistics about gold.<\/p>\n<p>Annual Approximate Mine Production: 2,864 tonnes Annual Approximate Old gold scrap: 1,591 tonnes<\/p>\n<p>Total = <strong>4,455 tonnes<\/strong><\/p>\n<p>The top Ten miners for gold are:<\/p>\n<p>Barrick Gold<br \/>\nNewmont Mining<br \/>\nAngloGold Ashanti<br \/>\nGoldcorp<br \/>\nKinross Gold<br \/>\nNewcrest Mining<br \/>\nNavoi MMC<br \/>\nGold Fields<br \/>\nPolyus Gold International<br \/>\nSibanye Gold<\/p>\n<p>Now in Physics, <strong>DENSITY<\/strong> is defined as <strong>mass \/ volume<\/strong><\/p>\n<p>The density of water is <strong>1,000 kg\/m\u00b3\u00a0 <\/strong><\/p>\n<p>The density of gold is <strong>19,320kg\/m\u00b3<\/strong><\/p>\n<p>Yes <strong>19.32 times<\/strong> heavier than water, it is very heavy. So in simply terms, a 1 Litre Carton of Tropicana Juice full of water is 1 Kg, and is that same carton was a solid piece of gold, that would be 19.32 Kg.<\/p>\n<p>Now from Thomson Reuters GFMS have said there is 174,100 tonnes of gold = <strong>174,100,000 kilogrammes\u00a0 have ever been mined in total<\/strong>.<\/p>\n<p>So with the equation of <strong>density = mass \/ volume<\/strong> one is able to calculate the volume (size) of the total amount of gold mined.<\/p>\n<p>The <strong>density of gold is 19,320kg\/m\u00b3<\/strong>. We know <strong>mass is 174,100 tonnes.<\/strong><\/p>\n<p>By re-arranging the density equation: <strong>Volume = Mass \/ Density<\/strong><\/p>\n<p>Volume = 174,100,000 \/ 19,320 = <strong>9011 m\u00b3<\/strong><\/p>\n<p>And <strong>9011m\u00b3<\/strong> = <strong>9011 metres cubed<\/strong>. So the cube root of 9011 is <strong>20.8m<\/strong>. Thus a solid cube of gold. <strong>20.8m long, 20.8m deep and 20.8m<\/strong> high is the total amount of gold mined. That is the equivalent of a small office block or a large house.<\/p>\n<p>Now what is the value of this <strong>9011 metre cube = 174,100,000 kilogrammes ?<\/strong><\/p>\n<p>1 ounce = 0.0283495 kilogrammes.<\/p>\n<p>1 Kilogram = 35.27 Ounces.<\/p>\n<p>We know that Gold is \u00a3772 per ounce.<\/p>\n<p>So 35.27 Ounces (= 1 Kg) = 35.27 x \u00a3772 = \u00a327,231<\/p>\n<p><strong>Yes 1kg (a bag of sugar) is worth \u00a327,231.<\/strong><\/p>\n<p>So 174,100,000 x \u00a327,231 = <strong>\u00a34,741,007,777,914<\/strong><\/p>\n<p>Thus 174,100,000 kilograms (the 20.8 metre cube) = <strong>\u00a34,741,007,777,914<\/strong> = <strong>\u00a34.7 Trillion<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold is a beautiful precious metal.\u00a0 It is often considered a safe option for investment, and is also known as hedge against inflation. The approximate value today is US$1299.25 per ounce. That is about \u00a3772 per ounce. A great place to read about Gold is from Thomson Reuters GFMS (Gold Fields Mineral Services). [https:\/\/thomsonreuterseikon.com\/markets\/commodities\/gfms\/] Some [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-529","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=529"}],"version-history":[{"count":2,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/529\/revisions"}],"predecessor-version":[{"id":531,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/529\/revisions\/531"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}