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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 41,06 $ 1oz ≈ 31.10 Gramm
1oz Gold US Dollar 1.277,00 $ 1oz ≈ 1,097 Unze
1kg Gold US Dollar 41.061,09 $ 1oz ≈ 0,031 Kilogram
Euro Gold Price
Unit Currency Price Calculation
1g Gold Euro 29,72 € 1oz ≈ 31.10 Gramm
1oz Gold Euro 924,23 € 1oz ≈ 1,097 Unze
1kg Gold Euro 29.718,01 € 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 24,44 ₤ 1oz ≈ 31.10 Gramm
1oz Gold British Pound 760,13 ₤ 1oz ≈ 1,097 Unze
1kg Gold British Pound 24.441,48 ₤ 1oz ≈ 0,031 Kilogram
Swiss Franc Gold Price
Unit Currency Price Calculation
1g Gold Swiss Franc 36,26 CHF 1oz ≈ 31.10 Gramm
1oz Gold Swiss Franc 1.127,78 CHF 1oz ≈ 1,097 Unze
1kg Gold Swiss Franc 36.263,02 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 230,286 230,228
EUR 1/2oz 15,55g 460,572 460,455
EUR 1oz 31,10g 921,144 920,910
EUR 2oz 62,20g 1.842,289 1.841,820
EUR 5oz 155,51g 4.605,722 4.604,551
EUR 10oz 311,04g 9.211,444 9.209,102
EUR 12oz 373,24g 11.053,733 11.050,923
EUR 20oz 622,07g 18.422,888 18.418,204
EUR 25oz 777,59g 23.028,610 23.022,755
EUR 1,0g 29,615 29,608
EUR 2,0g 59,231 59,216
EUR 5,0g 148,077 148,040
EUR 10,0g 296,155 296,080
EUR 20,0g 592,310 592,159
EUR 25,0g 740,387 740,199
EUR 50,0g 1.480,774 1.480,398
EUR 100,0g 2.961,548 2.960,795
EUR 200,0g 5.923,096 5.921,590
EUR 250,0g 7.403,870 7.401,988
EUR 500,0g 14.807,740 14.803,976
EUR 1kg 29.615,480 29.607,951
EUR 2kg 59.230,960 59.215,902
EUR 5kg 148.077,400 148.039,755
04/24/14 13:04:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 318,348 318,198
USD 1/2oz 15,55g 636,695 636,395
USD 1oz 31,10g 1.273,390 1.272,790
USD 2oz 62,20g 2.546,780 2.545,580
USD 5oz 155,51g 6.366,950 6.363,950
USD 10oz 311,04g 12.733,900 12.727,900
USD 12oz 373,24g 15.280,680 15.273,480
USD 20oz 622,07g 25.467,800 25.455,800
USD 25oz 777,59g 31.834,750 31.819,750
USD 1,0g 40,940 40,921
USD 2,0g 81,881 81,842
USD 5,0g 204,702 204,606
USD 10,0g 409,404 409,211
USD 20,0g 818,809 818,423
USD 25,0g 1.023,511 1.023,029
USD 50,0g 2.047,022 2.046,057
USD 100,0g 4.094,044 4.092,115
USD 200,0g 8.188,088 8.184,230
USD 250,0g 10.235,110 10.230,287
USD 500,0g 20.470,220 20.460,575
USD 1kg 40.940,439 40.921,149
USD 2kg 81.880,878 81.842,298
USD 5kg 204.702,195 204.605,745
04/24/14 13:04:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 189,583 189,527
GBP 1/2oz 15,55g 379,166 379,055
GBP 1oz 31,10g 758,331 758,109
GBP 2oz 62,20g 1.516,663 1.516,219
GBP 5oz 155,51g 3.791,657 3.790,547
GBP 10oz 311,04g 7.583,313 7.581,095
GBP 12oz 373,24g 9.099,976 9.097,314
GBP 20oz 622,07g 15.166,627 15.162,190
GBP 25oz 777,59g 18.958,284 18.952,737
GBP 1,0g 24,381 24,374
GBP 2,0g 48,762 48,748
GBP 5,0g 121,905 121,869
GBP 10,0g 243,809 243,738
GBP 20,0g 487,618 487,476
GBP 25,0g 609,523 609,345
GBP 50,0g 1.219,046 1.218,689
GBP 100,0g 2.438,092 2.437,379
GBP 200,0g 4.876,184 4.874,757
GBP 250,0g 6.095,230 6.093,447
GBP 500,0g 12.190,460 12.186,893
GBP 1kg 24.380,919 24.373,786
GBP 2kg 48.761,838 48.747,572
GBP 5kg 121.904,595 121.868,930
04/24/14 13:04:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 281,196 280,968
CHF 1/2oz 15,55g 562,393 561,937
CHF 1oz 31,10g 1.124,785 1.123,874
CHF 2oz 62,20g 2.249,571 2.247,747
CHF 5oz 155,51g 5.623,927 5.619,368
CHF 10oz 311,04g 11.247,854 11.238,736
CHF 12oz 373,24g 13.497,425 13.486,483
CHF 20oz 622,07g 22.495,708 22.477,471
CHF 25oz 777,59g 28.119,635 28.096,839
CHF 1,0g 36,163 36,133
CHF 2,0g 72,325 72,267
CHF 5,0g 180,813 180,667
CHF 10,0g 361,627 361,334
CHF 20,0g 723,254 722,667
CHF 25,0g 904,067 903,334
CHF 50,0g 1.808,135 1.806,669
CHF 100,0g 3.616,269 3.613,337
CHF 200,0g 7.232,538 7.226,675
CHF 250,0g 9.040,673 9.033,344
CHF 500,0g 18.081,345 18.066,687
CHF 1kg 36.162,690 36.133,374
CHF 2kg 72.325,380 72.266,748
CHF 5kg 180.813,450 180.666,870
04/24/14 13:04:32
No responsibility is taken for the correctness of this information!