How Much Gold Is There in the World?
|The total amount of gold production, worldwide, is 50 million troy ounces per year. But the amount of physical gold that currently exists above ground – which is within the market- visually looks much less daunting than anything 50 million ounces worth!|
“What people need to realize is, they call it precious metals because it really is so rare. If you took all of the physical gold that exists above ground in the world and melted it down into one giant cube, that cube would measure 20 yards, by 20 yards, by 20 yards. It’s a tiny market.”
That figurative cube of gold would measure to be the length and width of two volleyball courts side by side and 20 yards thick.
That is an incredibly small amount of metal for something that is used as one of the most valued investments throughout the world as prices continue to rise!
To give you a better idea, we here at Wealth Daily, have created a scale to show you just how much gold that would be if melted down into a cube:
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