A Question for Those in the Finance Industry.

[LynnH]

I have a question for TF and anyone else who works in finance ..... and those who are gold 'tragics'.

Does anyone know if the RBA has been selling gold lately? And if so, what is their reason for doing so?

The reason that I ask is that hubby had some interesting 'passengers' on a recent flight SYD-LHR ..... $100,000,000+ of gold bullion.

Anyone throw any light on why the AU was being sent O/S???

Cheers
LynnH

 

[AUSPROP...]

perhaps Krudd had to put a down payment on the plasmas?

 

[Rolf Latham]

Hiya

I dont believe the RBA has any ownership over any Bullion, but certainly many many shipmenst of gold go out of Oz. Its one of our larger exports in terms of value I believe.

100 mill would only be around 3 tons

ta
rolf

 

[Dazz]

Hi Lynn,


That's not alot of gold. I'm surprised anyone would have noticed it. Would of looked like a small box, about the same as a normal suitcase.


100M AUD of gold @ ~ $ 1,400 AUD per troy ounce would yield 71,428 ounces.

The mass of this would be 71,428 * 31.3 grams / tr. oz = 2,221,428 grams.

Or 2.2 metric tonnes of gold.

Density of gold = 19.3 g/cc

So, the volume of that gold would be 2,221,428 / 19.3 = 115,100 cc

Cube root of 115,100 is 48.6


Therefore, 100M worth of gold would be the size of a box with sides of 48cm. Not big at all really. Be fun to see the baggage handlers try to pick it up though. They'd have to get their little orange "Heavy - watch your back" tags out for it.

Not many suitcases weigh 2.2 metric tonnes though. Gold is deceptively heavy.

 

[LynnH]

Thanks for the replies, guys!

'Twas a question out of pure curiosity. I was a little surprised that it would be sent by air cargo. And hubby's curiosity was piqued because he'd never (to the best of his knowledge) carried that sort of cargo before - thousands of 'interesting' pax, plenty of 'celebrity'/famous pax ... but never such valuable 'pax'!

Cheers
Lynn

 

[topcropper]

Therefore, 100M worth of gold would be the size of a box with sides of 48cm. Not big at all really. Be fun to see the baggage handlers try to pick it up though. They'd have to get their little orange "Heavy - watch your back" tags out for it.

Not many suitcases weigh 2.2 metric tonnes though. Gold is deceptively heavy.

I'd imagine that most of the gold ever mined in human history would still be in circulation.

Does anyone know a rough estimate how much tonnes that would be..??
And if so, any one work out how big a cube of gold that would be and it's worth.


See ya's.

 

[topcropper]

Does anyone know a rough estimate how much tonnes that would be..??
And if so, any one work out how big a cube of gold that would be and it's worth.


See ya's.

People who quote themselves must be a bit wierd.

According to wikipedia,.....

http://en.wikipedia.org/wiki/Gold


......"At the end of 2006, it was estimated that all the gold ever mined totaled 158,000 tonnes.[19] This can be represented by a cube with an edge length of just 20.2 meters'........



So all the gold ever mined would be a cube 20 metres high and weighing 158,000 tonnes.

See ya's.

 

[LynnH]

Doesn't really seem a lot when you put it like that, TC - less than the size of a three-storey building. And positively miniscule when you consider the size of Dazz's 4-acre shed!!!

Cheers
Lynn

 

[Token Funder]

I'd imagine that most of the gold ever mined in human history would still be in circulation.

Other, of course, than the 5 wedding rings I've managed to lose in the last twenty years.

Rings...not wives.

 

[hobo-jo]

According to World Gold Council figures, RBA vaults held 79.8 tonnes of gold as of December, making up about 6.3 per cent of its total reserve, compared to an international average of 10.2 per cent.

http://www.thewest.com.au/default.aspx?MenuID=159&ContentID=117164
I doubt it was the RBA's gold being sold.

It would be cool to say you've seen $100m in gold before, put your feet up on it and get a photo

gold 'tragics'

What's a gold tragic?

 

[MIZBUF]

A gold tragic or Gold Nut or True believer(not to be confused with the Whitlam variety) is someone who through all the ups and downs of the POG , the manipulation of prices, the meltdowns etc still believes in gold's worth as a store of wealth. or summit like that! I am actually a sponsor /promoter shareholder in a start up gold & uranium mine in Guyana, South America. As such we in my fam used to say "all our money is going into some holes in the ground which may or may not contain gold" Well it's all starting to pay off- thanks to one very stubborn clever geologist who happens to be my son.

 

[LynnH]

Other, of course, than the 5 wedding rings I've managed to lose in the last twenty years.

Rings...not wives.

The mind boggles, TF!!! I have a hard time imagining losing one wedding ring - how on earth did you manage to lose 5???

Or shouldn't one ask ..... ???

Cheers
LynnH

 

[Token Funder]

The mind boggles, TF!!! I have a hard time imagining losing one wedding ring - how on earth did you manage to lose 5???

Or shouldn't one ask ..... ???

Cheers
LynnH

Oddly shaped fingers and a habit of putting them Somewhere Safe when using power tools

 

[Dazz]

Doesn't really seem a lot when you put it like that, TC - less than the size of a three-storey building. And positively miniscule when you consider the size of Dazz's 4-acre shed!!!

Cheeky bugger Lynn.

The wife and I would be more than happy to look after all of the gold ever discovered by man in our new shed.

It would be smeared out to a height of ~ 61cm, or about the height of a normal desk. The truss height is about 8m, so we'd probably be able to store all of the titanium, all of the tantalum, all of the paladium and all of the platinum ever discovered.

Reckon we'd need a guard or two.....but then she'd be a bugger to lift up if ya wanted to nick off with it in a hurry.

I reckon the crane's "beep-beep-beep" might be a dead give-away.

 

[Aaron Sice]

Oddly shaped fingers and a habit of putting them Somewhere Safe when using power tools

i'll bet that dude hanging out the front of SomewhereSafe is a bluddy millionaire by now.

i ca't recall the amount of stuff i've lost by putting it SomewhereSafe.

 

[Aaron Sice]

Cheeky bugger Lynn.

The wife and I would be more than happy to look after all of the gold ever discovered by man in our new shed.

It would be smeared out to a height of ~ 61cm, or about the height of a normal desk. The truss height is about 8m, so we'd probably be able to store all of the titanium, all of the tantalum, all of the paladium and all of the platinum ever discovered.

Reckon we'd need a guard or two.....but then she'd be a bugger to lift up if ya wanted to nick off with it in a hurry.

I reckon the crane's "beep-beep-beep" might be a dead give-away.

you'd need to use the moon's momentum to lift a shed like that - lasso it on the way past with a snatch strap and a BFO grapling hook.

 

[grossreal]

hi LynnH
simple answer.
there are a few mandated gold dealers in aust and at the moment there is alot of both buyers and sellers of bullion.
there is two types of bullion
the ones on the register and these have to have certificates and a whole load of paperwork
and then the black gold which is not no the register
and yes its about 35 mil per ton of bullion gold
and black gold is about 75% of that price
aust is seen as a very safe place to do gold deals and its also a place to do black gold deals as the gold can get easily turned into marketable gold
where as parts of asia neither types of gold are acceptable
at the moment there are groups looking for gold bullion.
and if you are on this board or come to this board with sellers of gold bullion let me know as I have people interested in buying
there is very strict ways of trade and there is alot of hoops to go thru
but there are alot of countries not companies that are in the market for bullion and they buy not in bars but in tons.
there was a trade about 3 months ago of 1b from asia to india so they are big numbers
and no I don't have any bars hanging around.