Wednesday, June 17, 2009 1:35:31 PM
According to this conversion site 1 Ounce is 28.35 Grams.
http://www.onlineconversion.com/weight_common.htm
Platinum is 2.77 grams per tonne
Gold is 2.47 grams per tonne
Palladium is 2.71 grams per tonne
Silver is 4.80 grams per tonne
http://www.kitco.com/market/
So this would actually be correct:
Platinum = 22,700,000 x 2.77gms/28.35 = 2,217,954 ounces X $1200 = $2,661,544,800
Gold = 22,700,000 x 2.47gms/28.35 = 1,977,742 ounces X $935 = $1,849,188,770
Palladium = 22,700,000 x 2.71gms/28.35 = 2,169,911 ounces X $240 = $520,778,640
Silver = 22,700,000 x 4.80gms/28.35 = 3,843,386 ounces X $14.30 = $54,960,420
Total Potential precious metal value equals
$2,661,544,800
$1,849,188,770
$ 520,778,640
+ $ 54,960,420
= $5,086,472,630
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