WC Varones

Don't lend your hand to raise no flag atop no ship of fools

Solid gold

With gold still far below its 2011 highs but looking technically very strong, the U.S. still running deficits of 8% of GDP, and Australia looking to join the global printfest, this would be a good time to revisit Gold: do you have your share?
Estimates for all the gold ever mined in the world are around 165,000 metric tons. A metric ton is 32,150 troy ounces, meaning there are only 5.3 billion ounces out there -- or less than one for every person on the planet! Do you have your ounce?

Now assuming that most inhabitants of third-world nations don't have a lot of gold, how much gold is there per developed-world inhabitant? The OECD countries have a population of about 1.2 billion, meaning there are about 4.4 ounces per developed-world citizen. Do you have your share?
Get thee to a coin shop, my friend.

1 comments:

Doo Doo Econ said...

It looks like people are betting on QE3 by the handle on spot gold prices. I wonder if it breaks 1680 today?

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