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Gold Price

Origin, Significance, And Outlook

Physical gold is mostly bought and sold in OTC trading. By far the most important trading center since 1919 is the London Bullion Market. In twice held daily gold fixings the London Bullion Market Association sets the quality requirements to demand the "Good Delivery" standard, which includes a minimum purity of 99.5%. The fixed price is, however, always pure gold.

Parallel to the establishment of the U.S. dollar, gold price is quoted depending on the exchange rate of the Euro and British Pound. The current price of gold in Euros is almost never identical to the price in U.S. Dollars due to fluctuations in currency. It is useful to see gold as a commodity whose pricing is the relationship between supply and demand due to, yet still independently, changes in currency. In history, gold has always played a role as a reference for other currencies. Currencies were tied to the existence of gold deposits. From 1944 to 1971 this was under under the Bretton Woods system- the case in which the world's leading currency, the U.S. dollar, derived its legitimacy from the gold reserves of the United States. In August of 1971, under U.S. President Richard Nixon, the price of gold in U.S. dollars picked up, making the non-referential increase to the money supply in the form of a so-called fiat currency possible. Although gold has lost its importance as a stabilizing element for the U.S. dollar, it is still an indicator of the value of the U.S. currency. The price of gold today is like the "anti-dollar".

Gold Price In The Twenty-First Century

On each of the long-term gold price charts the phenomenal rise in gold prices in the 2000s with a temporary high in 2011 may well be read in reverse: that is, as a massive devaluation of the U.S. Dollar. In particular, this is demonstrated by the accelerated rise in prices in 2008, as a result of the banking crisis. During this time the scenario of a collapse of the dollar-based financial system was quite real. The reason that you cannot read this devaluation in the exchange rate, for example in the Euro, is because the European currency itself has lost much of its attractiveness. The yen, which reflects the strength and weakness of the Japanese economy, is not as good of a benchmark for the U.S. dollar. Gold, or the price of gold, plays a role that can currently not be replicated by any official currency. Halfway recognizable is the loss of value of world currency (except in gold) against the Chinese Yuan. This currency is however still not freely tradable and is set with ranges of variation tolerated by the Chinese government.

 

US Dollar Gold Price
Unit Currency Price Calculation
1g Gold US Dollar 41,23 $ 1oz ≈ 31.10 Gramm
1oz Gold US Dollar 1.282,20 $ 1oz ≈ 1,097 Unze
1kg Gold US Dollar 41.228,30 $ 1oz ≈ 0,031 Kilogram
Euro Gold Price
Unit Currency Price Calculation
1g Gold Euro 31,20 € 1oz ≈ 31.10 Gramm
1oz Gold Euro 970,30 € 1oz ≈ 1,097 Unze
1kg Gold Euro 31.199,36 € 1oz ≈ 0,031 Kilogram
 

Gold Price Forecast

The relative decline of the U.S. economy, the inability of the Euro to take on the role of world reserve currency, and the uncertainty of China's ambitions having their own currency- taken together are a good starting point for a long-term rise in the gold price. According to OECD estimates in November 2012, the United States will lose its position as world's largest economy to China in 2016. The International Monetary Fund already came to the same conclusion in April 2011. It is economically unreasonable to assume that the U.S. dollar can keep long beyond that date as the world reserve currency. It is equally unlikely that China will be able to accommodate the Yuan’s ascencion at such short notice. The result is likely to be great confusion and uncertainty.. Nobody can predict what the global financial system will look like in ten or even five years. This uncertainty is what will elevate the price of gold to new heights. Gold has been and always will be a safe haven in times of economic turmoil.

 

British Pound Gold Price
Unit Currency Price Calculation
1g Gold British Pound 24,85 ₤ 1oz ≈ 31.10 Gramm
1oz Gold British Pound 772,91 ₤ 1oz ≈ 1,097 Unze
1kg Gold British Pound 24.852,41 ₤ 1oz ≈ 0,031 Kilogram
Swiss Franc Gold Price
Unit Currency Price Calculation
1g Gold Swiss Franc 37,68 CHF 1oz ≈ 31.10 Gramm
1oz Gold Swiss Franc 1.171,87 CHF 1oz ≈ 1,097 Unze
1kg Gold Swiss Franc 37.680,71 CHF 1oz ≈ 0,031 Kilogram
 
Investing In Gold

While there are numerous ways to make money indirectly by investing in gold - options and certificates on gold and the shares of gold mining companies - none of these can equal in security the investment in physical gold. Physical gold as an investment is mainly available in two forms: gold bullion and gold coins. Due to higher production costs and the collector value, the price of coins is slightly higher than that of bullion. Gold bullion also has a proprietary security feature like that found on banknotes or identity cards. Argor-Heraeus is a licensee of this technology for gold bullion.

Gold Bullion And Gold Coins

Gold bars are available as parts of an ounce, multiples of one troy ounce, grams, or kilograms and again as parts or multiples of these units of weight. Heavier gold bullion and gold coins are cheaper than those in relation with lower weight. The price of gold for 1kg bullion is therefore significantly less than the price of 1000 1g-bars. This rule also applies to gold coins. Troy ounces, parts, and multiples are much more common than expenditures in grams or kilograms. Among the most famous gold coins include Gold Eagle (USA), Krugerrands (South Africa), Maple Leaf (Canada) Gold Panda (China) and Vienna Philharmonic (Austria).

Actual Gold Price in Euro Ask Bid
EUR 1/4oz 7,78g 242,705 242,647
EUR 1/2oz 15,55g 485,410 485,293
EUR 1oz 31,10g 970,821 970,587
EUR 2oz 62,20g 1.941,641 1.941,174
EUR 5oz 155,51g 4.854,104 4.852,934
EUR 10oz 311,04g 9.708,207 9.705,869
EUR 12oz 373,24g 11.649,849 11.647,043
EUR 20oz 622,07g 19.416,414 19.411,738
EUR 25oz 777,59g 24.270,518 24.264,672
EUR 1,0g 31,213 31,205
EUR 2,0g 62,425 62,410
EUR 5,0g 156,063 156,025
EUR 10,0g 312,126 312,051
EUR 20,0g 624,252 624,102
EUR 25,0g 780,315 780,127
EUR 50,0g 1.560,631 1.560,255
EUR 100,0g 3.121,261 3.120,509
EUR 200,0g 6.242,522 6.241,019
EUR 250,0g 7.803,153 7.801,273
EUR 500,0g 15.606,306 15.602,547
EUR 1kg 31.212,611 31.205,093
EUR 2kg 62.425,222 62.410,186
EUR 5kg 156.063,055 156.025,465
08/27/14 16:51:33
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 320,565 320,415
USD 1/2oz 15,55g 641,130 640,830
USD 1oz 31,10g 1.282,260 1.281,660
USD 2oz 62,20g 2.564,520 2.563,320
USD 5oz 155,51g 6.411,300 6.408,300
USD 10oz 311,04g 12.822,600 12.816,600
USD 12oz 373,24g 15.387,120 15.379,920
USD 20oz 622,07g 25.645,200 25.633,200
USD 25oz 777,59g 32.056,500 32.041,500
USD 1,0g 41,226 41,206
USD 2,0g 82,451 82,413
USD 5,0g 206,128 206,032
USD 10,0g 412,256 412,063
USD 20,0g 824,512 824,127
USD 25,0g 1.030,640 1.030,158
USD 50,0g 2.061,281 2.060,316
USD 100,0g 4.122,562 4.120,633
USD 200,0g 8.245,123 8.241,265
USD 250,0g 10.306,404 10.301,582
USD 500,0g 20.612,808 20.603,163
USD 1kg 41.225,616 41.206,326
USD 2kg 82.451,232 82.412,652
USD 5kg 206.128,080 206.031,630
08/27/14 16:51:33
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 193,135 193,079
GBP 1/2oz 15,55g 386,269 386,158
GBP 1oz 31,10g 772,539 772,317
GBP 2oz 62,20g 1.545,078 1.544,634
GBP 5oz 155,51g 3.862,694 3.861,585
GBP 10oz 311,04g 7.725,389 7.723,170
GBP 12oz 373,24g 9.270,466 9.267,804
GBP 20oz 622,07g 15.450,777 15.446,339
GBP 25oz 777,59g 19.313,472 19.307,924
GBP 1,0g 24,838 24,831
GBP 2,0g 49,675 49,661
GBP 5,0g 124,189 124,153
GBP 10,0g 248,377 248,306
GBP 20,0g 496,754 496,611
GBP 25,0g 620,943 620,764
GBP 50,0g 1.241,885 1.241,528
GBP 100,0g 2.483,770 2.483,057
GBP 200,0g 4.967,540 4.966,113
GBP 250,0g 6.209,425 6.207,642
GBP 500,0g 12.418,851 12.415,284
GBP 1kg 24.837,701 24.830,567
GBP 2kg 49.675,402 49.661,134
GBP 5kg 124.188,505 124.152,835
08/27/14 16:51:33
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 293,157 292,923
CHF 1/2oz 15,55g 586,313 585,847
CHF 1oz 31,10g 1.172,627 1.171,694
CHF 2oz 62,20g 2.345,254 2.343,387
CHF 5oz 155,51g 5.863,134 5.858,468
CHF 10oz 311,04g 11.726,268 11.716,936
CHF 12oz 373,24g 14.071,521 14.060,323
CHF 20oz 622,07g 23.452,535 23.433,871
CHF 25oz 777,59g 29.315,669 29.292,339
CHF 1,0g 37,701 37,671
CHF 2,0g 75,402 75,342
CHF 5,0g 188,504 188,354
CHF 10,0g 377,008 376,708
CHF 20,0g 754,017 753,416
CHF 25,0g 942,521 941,771
CHF 50,0g 1.885,041 1.883,541
CHF 100,0g 3.770,083 3.767,082
CHF 200,0g 7.540,165 7.534,165
CHF 250,0g 9.425,207 9.417,706
CHF 500,0g 18.850,413 18.835,412
CHF 1kg 37.700,826 37.670,823
CHF 2kg 75.401,652 75.341,646
CHF 5kg 188.504,130 188.354,115
08/27/14 16:51:33
No responsibility is taken for the correctness of this information!