If we went back to the Gold Standard today, would gold be worth $40k per ounce?

Yes, you are right. If we US want to go back to gold standard gold price may go approximately $45000 per tray oz of gold. There is simple equation total money we have, divide by total gold with central bank of US.

If US seized gold from public as it did in 1933 then central bank may have more gold.

If all countries go for gold standard, then gold price may go beyond $60000 per oz of gold.

I think we are moving towards this situation. Now US dollar is losing value, later UK pound will loose value. What next, all countries may follow the same path, because all countries have fiat money means no back up.

I think in near or late in future all countries should have to go for gold or commodity standard ( including gold) and all currencies fixed with gold. And gold price will be left floating in the world market. I think this works. Something rigid method can only work. where all countries will be tied with commodities. In this system no currency devaluation at all, no currency exchange needed. All currencies are world currencies. We failed in gold standard because only we were having gold standard so it didn't work.

From the year about 1810 to 1910 all countries have gold or silver standard so there was no inflation at all. That was really golden century in the history. This system failed only because of two world wars, where western europien countires loose their gold in echange with arms.

If all countires adopt the same monetory stystem then there will not be any failure.

It is indeed true that the US cannot return to either a Gold Standard or Bi-metallic (Gold and Silver) Standard.

Contrary to what Che says, the total removal of the Gold Standard in the US came about as a result of the failed London Gold Pool in the 1960's. It was an international event, and Nixon was responding to the fact that the US did not have significant gold reserves even then. The US also served to keep the price of gold artificially low for decades prior to this.

The US government has systematically pillaged over 99% of the value of each dollar over the past 100 years. It aslo unconstitutionally removed the right (not privilege) of Americans to hold gold or silver and use as legal tender, or trade in bank notes on actual bullion. Britain has been slightly better, and Australia too. Debasement of currency occurs when governments are not accountable.

The set value of a Troy Ounce (31.1g approx) of fine gold is north of $USD 50,000, and silver is, historically at least, about 1/14 of that (about $USD 3600 Tr.oz). Silver is actually worth somewhat more than this because it is a strategic metal, used greatly in industry, far more than gold.

The truth of your currency debasement is that the USD is held up by nothing more than trust, and some of the world is converting to Euros, and bullion, as means of exchange.

That would probably be about right if they were to try and value all the dollars in terms of our available gold. We can't go back to the standard because there simply isn't enough. You have to value each dollar in terms of some quantity of gold. 1/400000 of an ounce per dollar would be like a speck of gold per dollar so it'd be silly. We also don't want a gold standard because it can be destabilizing when foreign countries want to liquidate their dollar holding for gold. That's why Nixon got rid of it in 71. The Europeans and Japanese wanted to redeem more dollars than we had gold because inflation was so high.

the price of gold today is about 1000 dollars per once and the gold standard was 32 dollars per once so yes they are close

no nation can go back to the gold standard. if you do that, the price of gold would soar. probably more than 40K. aside from that where will USA get its money to buy gold to back its currency 100%? for every batch of gold you buy the price will increase and it will be too expensive.

many countries still have gold reserves, and other precious metals. although it is not there to back any currency.