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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Is gold really worth $40,000 per ounce?

Posted on 08 July 2013

According to a report released by the Federal Reserve last week, the M2 money supply is about $10.5 trillion. The amount of gold held by the United States government is approximately 260 million ounces. Doing the math, that translates to north of $40,000 per ounce. This is too difficult to even comprehend.
But, whatever the real number might be, it seems that it is above the current $1200 area that gold in currently trading. The SPDR Gold Trust is an exchange traded fund that holds gold; its shares are very liquid. We think gold will be moving up and we’ve positioned our clients accordingly………………………………………..Full Article: Source


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VRS - who has written 46955 posts on Opalesque Commodities Briefing.


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