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English: This chart shows the nominal price of gold along with the price in 1971 and 2011 dollars (adjusted based on the consumer price index). The historical gold price was obtained from www.igolder.com; CPI was obtained from www.rateinflation.com. The data is in section Chart Data.
For example, if one owns a share in a gold mine where the costs of production are US$300 per troy ounce ($9.6 per gram) and the price of gold is $600 per troy ounce ($19/g), the mine's profit margin will be $300. A 10% increase in the gold price to $660 per troy ounce ($21/g) will push that margin up to $360, which represents a 20% increase in ...
Additionally, the kilobar, weighing 1,000 grams (32.15 troy ounces), and the 100-troy-ounce (109.7-ounce; 6.9-pound; 3.1-kilogram) gold bar are popular for trading and investment due to their more manageable size and weight. [1] These bars carry a minimal premium over the spot price of gold, facilitating small transfers between banks and ...
In 1970, South Africa produced 995 tonnes or 32 million ounces of gold, two-thirds of the world's production of 47.5 million ounces. [2] Production figures are for primary mine production. In the US, for example, for the year 2011, secondary sources (new and old scrap) exceeded primary production. [3]
The World Gold Council estimates that all the gold ever mined, and that is accounted for, totalled 190,040 metric tons in 2019 [1] but other independent estimates vary by as much as 20%. [2] At a price of US$1,250 per troy ounce ($40 per gram ) reached on 16 August 2017, one metric ton of gold has a value of approximately $40.2 million.
A possible source of confusion is that gold is often priced on the open market in the more traditional troy ounce (one troy ounce is exactly 31.1034768 grams, which is larger than the avoirdupois ounce generally in use in the United States and has a mass of 28.35 grams). Kilogram gold prices are commonly used by the Zurich Gold Pool where 1,000 ...
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