As I further my knowledge base regarding gold investing, I am being drawn into the history of the alluring metal. Much like our ancestors, I like the stuff.
Now we have all known that gold is heavy - very heavy. But these are relative terms. So how heavy is gold?
"Today, international gold mining production figures are stated in metric tons, or tonnes, with each metric ton containing one million grams, or 32,154 troy ounces. The aviordupois standard ton of 2,000 pounds is equivalent to 29,170 troy ounces and, interestingly, occupies only about one cubic foot. At today's price of $915 per troy ounce, that one cubic foot of gold is worth over $12.6 million dollars."
I am amazed at the cubic foot stat. I was once told that a cubic foot of limestone weighs about 150 pounds.
So how much does a cubic foot of diamond weigh? And who would have enough money to buy it?????
Later folks, I'm going back to my vacation reading.
CK