Cryptocurrency Q&A How much gold can I buy for $100,000?

How much gold can I buy for $100,000?

GeishaElegance GeishaElegance Tue Oct 15 2024 | 6 answers 1490
I'm wondering how much gold I could purchase with a budget of $100,000. I'm curious about the quantity or weight of gold that this amount of money could possibly get me. How much gold can I buy for $100,000?

6 answers

Elena Elena Thu Oct 17 2024
Calculating the quantity of gold one can acquire involves a straightforward mathematical operation. This process begins by determining the total amount of money available for investment.

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Maria Maria Thu Oct 17 2024
Next, the current market price of gold per troy ounce must be ascertained. The troy ounce, a unit of measurement commonly used in the precious metals market, serves as the basis for this calculation.

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DondaejiDelight DondaejiDelight Thu Oct 17 2024
To derive the total ounces of gold that can be purchased, the total investment amount is divided by the price per troy ounce. This division yields the number of ounces that are financially feasible to acquire.

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GwanghwamunGuardianAngel GwanghwamunGuardianAngel Thu Oct 17 2024
For instance, if an investor has $100,000 to spend on gold and the current price per troy ounce is $2,018.39, the calculation would proceed as follows: $100,000 divided by $2,018.39.

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amelia_martinez_engineer amelia_martinez_engineer Wed Oct 16 2024
Performing this division results in approximately 49.57 troy ounces of gold. This figure represents the maximum quantity of gold that the investor can afford based on their available funds and the current market price.

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