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Gold £1245.61 £40.047
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Updated 13:08 28/02/21

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How much is 1 ton of gold worth?

It is difficult to give an exact value for a ton of pure gold. A current, and very approximate, figure would be £30,000,000.

An exact price is difficult to give because the price of the yellow metal, usually quoted in troy ounces, is constantly changing. Plus, to further complicate the calculation, there are three different measurements using the term 'tons'.

In the United States, a ton is 2,000 pounds. Traditionally in the UK, a ton – or long ton, to differentiate it from a US ton – is 2,240 pounds. In Europe, and modern UK usage, a 'tonne' is 1,000 kilograms, or 2204.62 pounds. All the weighing methods for a ton are very close to each other and today in the UK the tonne, or metric ton, is most commonly used.

So, how much is one tonne of gold precious metal worth? A tonne, in 2019, has been priced at its highest over £33,000,000 and the lowest just under £29,000,000.

The total amount of gold in the world

The latest estimate for all the gold in the world – the amount of gold above ground – is 171,300 tonnes. Thanks to the incredible density of gold, this could fit into a cube with sides of just under 20m (67ft). Working on an average of £30,000,000 for one tonne, that would give a world’s gold a total value of £513,900,0000,000!

A visualisation of all the gold in the world as a cube.

The world’s largest gold reserves
In 2018, according to a report from the World Gold Council, governments around the world added 651.5 tons of gold to their reserves. Demonstrating the growing importance of gold holdings and investment, this a 74% increase from the previous year. To see the top 10 countries by gold reserves, click here.

The New York Federal Reserve the world's largest depository of gold. Back in 2015 it held approximately 6,350 tonnes of gold on behalf of numerous government institutions from around the world. The Bank of England is the second largest keeper of gold. It holds around 5,134 tonnes of gold between the UK and 30 other countries' foreign reserves.

If you’d like to see the top ten countries for gold production, then click here.