Altogether, Indian households hold the largest amount of gold in the world, approximately 24,000 metric tons. Most of it is in the form of jewelry that are used for the Diwali festival and weddings. New Survey Highlights What the Average American Feels About Precious Metals Ownership. How much gold does the average of U, S have.
Is home your own? It is a deceptively simple question that has a very complicated answer. On the one hand, there are no reliable statistics on private ownership of gold in the U.S. UU. And certainly people are not going to volunteer this personal information either.
However, I believe that this question will become increasingly important as our global monetary system inevitably rearranges over the next few decades. Before we try to answer this question about private US gold ownership, let's talk for a moment about official US ownership. UU. It currently holds more than 8,133 metric tons, or 261,498,926 troy ounces, of fine gold in secure facilities across the country.
More than 50% of this stash, approximately 4,583 metric tons, is stored in the world-famous United States bullion depot in Fort Knox, Kentucky, where it is protected by an active American. In any case, these are not the numbers we are looking for. Instead, we want the average private ownership of gold by U, S. Or, more specifically, we want the average level of gold ownership by U, S.
Domestic gold is undoubtedly kept in the form of solid karat gold jewelry. Most solid karat gold jewelry ranges from 9 karat gold (37.5% fine) to 18 karat gold (75% fine). However, most people own far fewer solid karat gold jewelry than you might think. It is much more common to find costume jewelry in the US average.
Home, which I freely define as gold-plated and gold-plated jewelry. Gold-filled jewelry has a thick layer of karat gold that is mechanically fused to a copper alloy base. In contrast, gold-plated jewellery is manufactured by electroplating a very thin layer of gold directly onto the base metal. Gold-filled jewelry can often be economically recycled for its gold content, as long as it is judiciously mixed with solid karat gold jewelry before being sent to the refinery.
However, the fine gold content of gold-plated jewelry is between 2.1% and 7.5%, substantially less than even the lowest karat solid gold alloys. Because it is so diluted, it takes a lot of jewelry filled with gold to accumulate a significant amount of pure gold. Of course, the only problem is that electronics don't contain much gold. As the price of gold has risen steadily over the past 15 years, hardware manufacturers have done their best to reduce the amount of gold used in electronics.
This makes it very difficult to recover gold from computer waste. Despite this, there is a thriving market for electronic scrap metal on platforms such as eBay. Households have, together, only a few hundredths of a gram of gold stored in electronic equipment and computers. There are some conclusions that we can draw from our estimation of the average of U, S.
First of all, it's safe to assume that these private holdings of gold do not represent a significant addition to most people's net worth. Second, we can infer that the silver holdings of most US households are also proportionally low; applying a traditional 15-fold multiplier to gold holdings will likely give a reasonable estimate of household silver holdings. Third, we can assume that the median of U, S. The family value of all other tangible assets, such as precious stones, antiques and works of art, is also quite small.
A massive dislocation is looming in paper asset markets, where most Americans currently hold most of their net worth (non-real estate). Hard assets, such as precious metals, precious stones, works of art and antiques, can serve as a buffer during this future period of financial chaos. But it doesn't work if you don't have any. Read more thought-provoking articles on Antique Sage materials here.
Read the Antique Sage investment guides here. The AntiQuesage website does not provide investment advice. All comments on this site are only an expression of opinion and are in no way a recommendation to buy, sell or trade stocks, bonds, commodities, collectibles, antiques, works of art or any other financial instrument. The World Gold Council, which collects and disseminates mountains of statistics on gold, says it cannot provide an estimate of the number of Americans who own gold as investment.
During the gold standard eras of the 19th and early 20th centuries, national governments assumed the obligation to exchange the national currency for a certain amount of gold. Global Bullion is among the best online gold traders for those looking to buy gold with the lowest premiums above the spot. Gold reserves were evenly distributed among the estimated 125.8 million U.S. households, totaling 2.08 troy ounces (64.7 grams) of gold per household.
Gold plays an important role in central bank reserve management, and they are important holders of gold.
gold iraGuide, an established publication that provides investors and retirees with all relevant information on investing in precious metals, launched the survey. The value of gold holdings is calculated using the LBMA gold price at the end of the quarter, which is published daily by the ICE Benchmark Administration for the value of other reserves to be taken from IFS, table 'Total reserves minus gold'. This gold reserve data, compiled with the IMF's IFS statistics, tracks purchases and sales reported by central banks along with gold as a percentage of their international reserves.
The figures are taken from the monthly report prepared by the World Gold Council, which is the main market development agency for the gold industry. . .