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From the schedule, it can be seen that roughly 64% of the gold bars at Fort Knox have a fineness between 899 and 901, 2% have a fineness between 901.1 and 915.4, 17% have a fineness between 915.5 and 917, and 17% have a fineness greater than or equal to 995. The average fineness is 916.7. [51] [52]
The Fort Knox gold deposit had pre-production Proven and Probable Reserves in 1996 of 158.3 million tonnes @ 0.83 g/t gold with a 0.39 g/t gold cut-off for 4.2 million ounces. [7] After the production of over 7.5 million ounces, at 31 December 2019 Proven and Probable Reserves were 255.8 million tonnes @ 0.3 g/t gold for 2.80 million ounces. [8]
The standard gold bar held and traded internationally by central banks and bullion dealers is the Good Delivery bar with a 400 ozt (12.4 kg; 27.4 lb) nominal weight. However, its precise gold content is permitted to vary between 350 ozt (10.9 kg; 24.0 lb) and 430 ozt (13.4 kg; 29.5 lb).
“The wholesale retailer began selling gold online in September and 1 oz. gold bars on Friday were going for $2,069.99, with a limit of two bars per Costco membership,” CNN says.
Gold bars are priced by weight, typically ounces or grams, and this price is also affected by the market. As of Oct. 26, 2023, the price of 1 gram of gold is $64.16, whereas a gold bar that weighs ...
The increase in gold reserves due to the price change resulted in a large accumulation of gold in the Federal Reserve and U.S. Treasury, much of which was stored in the United States Bullion Depository at Fort Knox and other locations.
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