$ 3 billion gold bullion - photo

[mklotz]

1.6E9 oz / (16 oz/lb * 2000 lb/ton) = 50,000 tons

The Titanic weighed 52,000 tons.

I know gold is very dense but I can't believe that pile weighs as much as an ocean liner. Did somebody get millions and billions confused?

Even if it's 1.6E9 troy ounces, the conversion (1 lbavdp = 14.58 ozt) is close to using 16.

Also,

1.6 billion ounces of gold worth around $ 3 billion (USD).

suggests an ounce of gold is worth about $2. The current market price is about $1800 per ounce.