How much does a bar of 24K gold cost and weigh?

Answer 1

There are only 55 active manufacturers worldwide whose ‘400 oz’ (‘12.5 kg’) bars are accepted internationally as London Good Delivery.

‘400 oz’ London Good Delivery bars are permitted to weigh between 350 oz and 430 oz. Minimum gold purity: 99.5%. Around 150,000 are made each year. Central banks normally hold gold in the form of these bars and are believed to hold 2.5 million of them.

Gold is trading today at $ 613.40 per ounce.

Answer 2

Gold bars are 24k, but that's just to reduce the bulk and make the counting easy. It doesn't make the gold inside any more valuable. You're not going to be able to hand over a gold bar at 7-eleven or the grocery store, so you already need to find someone that's willing to handle a gold purchase (like a jeweler or a pawn shop). I doubt that you're going to get a discount for melting it down yourself.

Answer 3

This might help you.
The most traditional way of investing in gold is by buying bullion gold bars. In some countries, like Austria, Liechtenstein and Switzerland, these can easily be bought or sold "over the counter" of the major banks. Alternatively, there are bullion dealers which provide the same service. Bars are available in various sizes, for example in Europe these would typically be in 12.5kg or 1kg bars (1kg = 32.15072 Troy ounces), although many other weights exist, such as the Tael, the 10oz or 1oz bar.

The following table sets out the gold price versus various investments and key statistics:

Year to
31st
December Gold Price
US$/oz Silver Price
US$/oz S&P 500 [1] Dow Jones
Industrial
Average [2] Money
Supply M3 [3]
US$ billions Farm Wages [4]
US$/hr US Govt Debt [5]
US$ billions
1910 20.67 0.54 9.05 59.60 2.6
1920 20.67 0.54 6.81 71.95 25.9
1930 20.67 0.33 15.34 164.58 16.2
1940 34.50 0.35 10.58 131.13 43.0
1950 40.25 0.80 20.41 235.42 257.4
1960 36.50 0.91 58.11 615.89 315.2 290.2
1970 37.60 1.64 92.15 838.92 677.1 389.2
1980 641.20 15.65 135.76 963.99 1,995.5 3.50 930.2
1990 423.80 4.17 330.22 2,633.66 4,154.6 5.52 3,233.3
2000 272.15 4.60 1,320.28 10,786.85 7,117.7 8.10 5,674.2
2005 513.00 8.83 1,248.29 10,717.50 10,191.4 9.51 8,170.4

Answer 4

24K refers to the purity of the gold.

In order to answer the question, we need to know the size of the bar. From that, using the known density of gold, we can determine its weight. Once the weight is established, you'd need to look at the recent activity of the gold futures market to establish the current price. Once you know the price per unit weight, you could calculate the price.

Answer 5

Standard gold bars weigh 40 lbs (12 troy ounces to the pound) value today @ $611.80/ OZ is $293,664.00 per bar. - US values

Answer 6

how big is the bar. solid gold costs a LOT

Answer 7

Alot, and alot. It'd make a good though... :)