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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 41,26 $ 1oz ≈ 31.10 Gramm
1oz Gold US Dollar 1.283,10 $ 1oz ≈ 1,097 Unze
1kg Gold US Dollar 41.257,23 $ 1oz ≈ 0,031 Kilogram
Euro Gold Price
Unit Currency Price Calculation
1g Gold Euro 30,80 € 1oz ≈ 31.10 Gramm
1oz Gold Euro 957,90 € 1oz ≈ 1,097 Unze
1kg Gold Euro 30.800,64 € 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 24,45 ₤ 1oz ≈ 31.10 Gramm
1oz Gold British Pound 760,49 ₤ 1oz ≈ 1,097 Unze
1kg Gold British Pound 24.453,05 ₤ 1oz ≈ 0,031 Kilogram
Swiss Franc Gold Price
Unit Currency Price Calculation
1g Gold Swiss Franc 37,49 CHF 1oz ≈ 31.10 Gramm
1oz Gold Swiss Franc 1.166,02 CHF 1oz ≈ 1,097 Unze
1kg Gold Swiss Franc 37.492,60 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 239,961 239,903
EUR 1/2oz 15,55g 479,922 479,805
EUR 1oz 31,10g 959,843 959,610
EUR 2oz 62,20g 1.919,686 1.919,220
EUR 5oz 155,51g 4.799,216 4.798,050
EUR 10oz 311,04g 9.598,432 9.596,101
EUR 12oz 373,24g 11.518,118 11.515,321
EUR 20oz 622,07g 19.196,863 19.192,201
EUR 25oz 777,59g 23.996,079 23.990,252
EUR 1,0g 30,860 30,852
EUR 2,0g 61,719 61,704
EUR 5,0g 154,298 154,261
EUR 10,0g 308,597 308,522
EUR 20,0g 617,193 617,044
EUR 25,0g 771,492 771,305
EUR 50,0g 1.542,984 1.542,609
EUR 100,0g 3.085,967 3.085,218
EUR 200,0g 6.171,935 6.170,436
EUR 250,0g 7.714,919 7.713,045
EUR 500,0g 15.429,837 15.426,090
EUR 1kg 30.859,674 30.852,180
EUR 2kg 61.719,348 61.704,360
EUR 5kg 154.298,370 154.260,900
07/31/14 21:35:34
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 321,308 321,158
USD 1/2oz 15,55g 642,615 642,315
USD 1oz 31,10g 1.285,230 1.284,630
USD 2oz 62,20g 2.570,460 2.569,260
USD 5oz 155,51g 6.426,150 6.423,150
USD 10oz 311,04g 12.852,300 12.846,300
USD 12oz 373,24g 15.422,760 15.415,560
USD 20oz 622,07g 25.704,600 25.692,600
USD 25oz 777,59g 32.130,750 32.115,750
USD 1,0g 41,321 41,302
USD 2,0g 82,642 82,604
USD 5,0g 206,606 206,509
USD 10,0g 413,211 413,018
USD 20,0g 826,422 826,036
USD 25,0g 1.033,028 1.032,545
USD 50,0g 2.066,055 2.065,091
USD 100,0g 4.132,110 4.130,181
USD 200,0g 8.264,221 8.260,363
USD 250,0g 10.330,276 10.325,454
USD 500,0g 20.660,552 20.650,907
USD 1kg 41.321,104 41.301,814
USD 2kg 82.642,208 82.603,628
USD 5kg 206.605,520 206.509,070
07/31/14 21:35:34
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 190,303 190,248
GBP 1/2oz 15,55g 380,606 380,496
GBP 1oz 31,10g 761,212 760,992
GBP 2oz 62,20g 1.522,424 1.521,983
GBP 5oz 155,51g 3.806,059 3.804,958
GBP 10oz 311,04g 7.612,118 7.609,916
GBP 12oz 373,24g 9.134,542 9.131,900
GBP 20oz 622,07g 15.224,236 15.219,833
GBP 25oz 777,59g 19.030,295 19.024,791
GBP 1,0g 24,474 24,466
GBP 2,0g 48,947 48,933
GBP 5,0g 122,368 122,332
GBP 10,0g 244,735 244,665
GBP 20,0g 489,471 489,329
GBP 25,0g 611,838 611,661
GBP 50,0g 1.223,676 1.223,323
GBP 100,0g 2.447,353 2.446,645
GBP 200,0g 4.894,706 4.893,290
GBP 250,0g 6.118,382 6.116,613
GBP 500,0g 12.236,764 12.233,225
GBP 1kg 24.473,528 24.466,450
GBP 2kg 48.947,056 48.932,900
GBP 5kg 122.367,640 122.332,250
07/31/14 21:35:34
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 292,069 291,836
CHF 1/2oz 15,55g 584,137 583,672
CHF 1oz 31,10g 1.168,274 1.167,343
CHF 2oz 62,20g 2.336,548 2.334,687
CHF 5oz 155,51g 5.841,370 5.836,716
CHF 10oz 311,04g 11.682,741 11.673,433
CHF 12oz 373,24g 14.019,289 14.008,119
CHF 20oz 622,07g 23.365,481 23.346,866
CHF 25oz 777,59g 29.206,852 29.183,582
CHF 1,0g 37,561 37,531
CHF 2,0g 75,122 75,062
CHF 5,0g 187,804 187,655
CHF 10,0g 375,609 375,310
CHF 20,0g 751,218 750,619
CHF 25,0g 939,022 938,274
CHF 50,0g 1.878,044 1.876,548
CHF 100,0g 3.756,088 3.753,096
CHF 200,0g 7.512,177 7.506,192
CHF 250,0g 9.390,221 9.382,740
CHF 500,0g 18.780,442 18.765,479
CHF 1kg 37.560,884 37.530,958
CHF 2kg 75.121,768 75.061,916
CHF 5kg 187.804,420 187.654,790
07/31/14 21:35:34
No responsibility is taken for the correctness of this information!