Buy or sell gold in 2008

Goldprice

In January 2008 the gold price reached an all time high of 911 US Dollar of a Troy ounce in London. It was priced over 600 euro on several days in january 2008. In 2004 gold was much cheaper. On January 25th it reached 625 euro or 921 US Dollar.

 

Troy Ounce

One Troy ounce is 31,1 gram. One kg of gold has 32 Troy ounces.

 

Mining gold

It seems that in total some 145.000 ton gold has been mined since ancient times. That's 145 million kg. Only some 20 precent of this gold is with central banks and other institutions.

The cost of mining one ounce of gold seems to be at least 250 US dollar.

by 2747.com / 2747 / buy / 2008 / Gold