Warren Buffett’s gold cube is probably the wrong size

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 . . .

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Image by Aaron Friedman