The world's gold stock is about 170,000 metric tons.
Resolved true The record shows it happened or was so.
Factual: Statements about the present or the past, checked against the record: did they hold up?
The second judge would not resolve this claim; the verdict shown is the first judge's.
Said for an organisation they lead or work for; it counts on both records.
What would count as true or false
Judged as of early 2012 (the letter/essay dated 2012-02-09). The claim says 'about', so a rough figure is the test. True: authoritative estimates of total above-ground gold stock at end-2011 (e.g., World Gold Council, GFMS/Thomson Reuters) fall within roughly ±7% of 170,000 tonnes (about 158,000–182,000 t). Mostly true: estimates are within roughly ±15% (about 145,000–195,000 t). Mixed: within ±25%. Mostly false: within ±40%. False: authoritative estimates differ by more than 40%.
Set before the research began.
Evidence (2)
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E1 fwp World Gold Council (filed with the SEC under Rule 433, Registration No. 333-167132) · 12 April 2011
“As of 2010, best estimates suggest that approximately 168,300 tonnes of gold have been mined over the course of human history.”
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E2 fwp World Gold Council (filed with the SEC under Rule 433, Registration No. 333-167132) · 12 April 2011
“Gold stock estimate based World Gold Council calculations using GFMS 2010 Gold Survey and initial full year 2010 GFMS estimates.”
Reasoning
The World Gold Council's SEC-filed document [E1] says that, as of 2010, about 168,300 tonnes of gold had been mined in all of human history. Its footnote [E2] says the figure is a WGC calculation based on GFMS data. That figure is within about 1% of the 170,000 tonnes in the claim. The criteria ask for an end-2011 figure, and the evidence gives one for 2010. The evidence gives a World Gold Council estimate of about 168,300 tonnes mined through history as of 2010 [E1], within about 1% of the claimed 170,000 tonnes; no evidence item gives an end-2011 figure or annual mine output.
Cite this claim
Warren Buffett, “The world's gold stock is about 170,000 metric tons.” (said 9 February 2012). Verdict: resolved true. Reliability API, claim c_92b1d25791c5, method 0.1.0+28da144b, dataset release v1.1.2. https://epistacklabs.com/claims/c_92b1d25791c5
This claim is in dataset release v1.1.2, with the same verdict.
Reply to this claim
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Verdicts are made automatically; how verdicts are made.