Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Bullion has fallen six days in a row and is set for a weekly loss of more than 4%.
The BBC looks at all the claims for the purported amount of gold in the world and finds a lot of discrepancy.
Gold has been mined for a very long time, and how that ancient gold has been accounted for creates problems:
Warren Buffett, one of the world’s richest investors, says the total amount of gold in the world – the gold above ground, that is – could fit into a cube with sides of just 20m (67ft).
But is that all there is? And if so, how do we know?
[One] investor who looked at the research done in this area, James Turk, the founder of Gold Money, discovered what he regarded as a series of over-estimates.
He believes that the primitive mining techniques used up to the Middle Ages mean that this figure is much too high . . .
Image by Aaron Friedman
