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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 39,51 $ 1oz ≈ 31.10 Gramm
1oz Gold US Dollar 1.228,80 $ 1oz ≈ 1,097 Unze
1kg Gold US Dollar 39.511,25 $ 1oz ≈ 0,031 Kilogram
Euro Gold Price
Unit Currency Price Calculation
1g Gold Euro 30,66 € 1oz ≈ 31.10 Gramm
1oz Gold Euro 953,61 € 1oz ≈ 1,097 Unze
1kg Gold Euro 30.662,70 € 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 24,27 ₤ 1oz ≈ 31.10 Gramm
1oz Gold British Pound 754,91 ₤ 1oz ≈ 1,097 Unze
1kg Gold British Pound 24.273,63 ₤ 1oz ≈ 0,031 Kilogram
Swiss Franc Gold Price
Unit Currency Price Calculation
1g Gold Swiss Franc 37,15 CHF 1oz ≈ 31.10 Gramm
1oz Gold Swiss Franc 1.155,26 CHF 1oz ≈ 1,097 Unze
1kg Gold Swiss Franc 37.146,62 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 238,381 238,320
EUR 1/2oz 15,55g 476,761 476,639
EUR 1oz 31,10g 953,523 953,279
EUR 2oz 62,20g 1.907,046 1.906,558
EUR 5oz 155,51g 4.767,614 4.766,395
EUR 10oz 311,04g 9.535,229 9.532,789
EUR 12oz 373,24g 11.442,275 11.439,347
EUR 20oz 622,07g 19.070,458 19.065,579
EUR 25oz 777,59g 23.838,072 23.831,974
EUR 1,0g 30,656 30,649
EUR 2,0g 61,313 61,297
EUR 5,0g 153,282 153,243
EUR 10,0g 306,565 306,486
EUR 20,0g 613,129 612,973
EUR 25,0g 766,412 766,216
EUR 50,0g 1.532,824 1.532,432
EUR 100,0g 3.065,647 3.064,863
EUR 200,0g 6.131,294 6.129,726
EUR 250,0g 7.664,118 7.662,158
EUR 500,0g 15.328,236 15.324,315
EUR 1kg 30.656,472 30.648,630
EUR 2kg 61.312,944 61.297,260
EUR 5kg 153.282,360 153.243,150
09/17/14 21:34:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 306,868 306,718
USD 1/2oz 15,55g 613,735 613,435
USD 1oz 31,10g 1.227,470 1.226,870
USD 2oz 62,20g 2.454,940 2.453,740
USD 5oz 155,51g 6.137,350 6.134,350
USD 10oz 311,04g 12.274,700 12.268,700
USD 12oz 373,24g 14.729,640 14.722,440
USD 20oz 622,07g 24.549,400 24.537,400
USD 25oz 777,59g 30.686,750 30.671,750
USD 1,0g 39,464 39,445
USD 2,0g 78,928 78,890
USD 5,0g 197,320 197,224
USD 10,0g 394,641 394,448
USD 20,0g 789,282 788,896
USD 25,0g 986,602 986,120
USD 50,0g 1.973,204 1.972,239
USD 100,0g 3.946,408 3.944,479
USD 200,0g 7.892,815 7.888,957
USD 250,0g 9.866,019 9.861,197
USD 500,0g 19.732,039 19.722,393
USD 1kg 39.464,077 39.444,786
USD 2kg 78.928,154 78.889,572
USD 5kg 197.320,385 197.223,930
09/17/14 21:34:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 188,807 188,749
GBP 1/2oz 15,55g 377,613 377,498
GBP 1oz 31,10g 755,227 754,997
GBP 2oz 62,20g 1.510,453 1.509,994
GBP 5oz 155,51g 3.776,134 3.774,985
GBP 10oz 311,04g 7.552,267 7.549,969
GBP 12oz 373,24g 9.062,721 9.059,963
GBP 20oz 622,07g 15.104,535 15.099,938
GBP 25oz 777,59g 18.880,668 18.874,923
GBP 1,0g 24,281 24,274
GBP 2,0g 48,562 48,547
GBP 5,0g 121,406 121,369
GBP 10,0g 242,811 242,737
GBP 20,0g 485,622 485,474
GBP 25,0g 607,028 606,843
GBP 50,0g 1.214,055 1.213,686
GBP 100,0g 2.428,110 2.427,372
GBP 200,0g 4.856,221 4.854,743
GBP 250,0g 6.070,276 6.068,429
GBP 500,0g 12.140,552 12.136,858
GBP 1kg 24.281,103 24.273,715
GBP 2kg 48.562,206 48.547,430
GBP 5kg 121.405,515 121.368,575
09/17/14 21:34:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 288,916 288,683
CHF 1/2oz 15,55g 577,832 577,365
CHF 1oz 31,10g 1.155,663 1.154,730
CHF 2oz 62,20g 2.311,326 2.309,460
CHF 5oz 155,51g 5.778,315 5.773,650
CHF 10oz 311,04g 11.556,630 11.547,300
CHF 12oz 373,24g 13.867,956 13.856,761
CHF 20oz 622,07g 23.113,260 23.094,601
CHF 25oz 777,59g 28.891,575 28.868,251
CHF 1,0g 37,155 37,125
CHF 2,0g 74,311 74,251
CHF 5,0g 185,777 185,627
CHF 10,0g 371,554 371,254
CHF 20,0g 743,109 742,509
CHF 25,0g 928,886 928,136
CHF 50,0g 1.857,771 1.856,272
CHF 100,0g 3.715,543 3.712,543
CHF 200,0g 7.431,086 7.425,087
CHF 250,0g 9.288,857 9.281,358
CHF 500,0g 18.577,714 18.562,717
CHF 1kg 37.155,428 37.125,433
CHF 2kg 74.310,856 74.250,866
CHF 5kg 185.777,140 185.627,165
09/17/14 21:34:32
No responsibility is taken for the correctness of this information!