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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.

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.

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 bars and gold coins. Due to higher production costs and the collector value, the price of coins is slightly higher than that of bars. Gold bars also has a proprietary security feature like that found on banknotes or identity cards. Argor-Heraeus is a licensee of this technology for gold bars.

Gold Bars 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 bars and gold coins are cheaper than those in relation with lower weight. The price of gold for 1kg bars 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 272,890 272,827
EUR 1/2oz 15,55g 545,780 545,653
EUR 1oz 31,10g 1.091,560 1.091,306
EUR 2oz 62,20g 2.183,121 2.182,613
EUR 5oz 155,51g 5.457,802 5.456,532
EUR 10oz 311,04g 10.915,603 10.913,064
EUR 12oz 373,24g 13.098,724 13.095,676
EUR 20oz 622,07g 21.831,206 21.826,127
EUR 25oz 777,59g 27.289,008 27.282,659
EUR 1,0g 35,094 35,086
EUR 2,0g 70,189 70,173
EUR 5,0g 175,472 175,432
EUR 10,0g 350,945 350,863
EUR 20,0g 701,890 701,726
EUR 25,0g 877,362 877,158
EUR 50,0g 1.754,724 1.754,316
EUR 100,0g 3.509,448 3.508,632
EUR 200,0g 7.018,896 7.017,263
EUR 250,0g 8.773,620 8.771,579
EUR 500,0g 17.547,240 17.543,158
EUR 1kg 35.094,479 35.086,315
EUR 2kg 70.188,958 70.172,630
EUR 5kg 175.472,395 175.431,575
12/06/16 15:08:37
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 292,948 292,798
USD 1/2oz 15,55g 585,895 585,595
USD 1oz 31,10g 1.171,790 1.171,190
USD 2oz 62,20g 2.343,580 2.342,380
USD 5oz 155,51g 5.858,950 5.855,950
USD 10oz 311,04g 11.717,900 11.711,900
USD 12oz 373,24g 14.061,480 14.054,280
USD 20oz 622,07g 23.435,800 23.423,800
USD 25oz 777,59g 29.294,750 29.279,750
USD 1,0g 37,674 37,655
USD 2,0g 75,348 75,309
USD 5,0g 188,370 188,273
USD 10,0g 376,739 376,546
USD 20,0g 753,478 753,093
USD 25,0g 941,848 941,366
USD 50,0g 1.883,696 1.882,732
USD 100,0g 3.767,392 3.765,463
USD 200,0g 7.534,785 7.530,927
USD 250,0g 9.418,481 9.413,658
USD 500,0g 18.836,962 18.827,317
USD 1kg 37.673,923 37.654,633
USD 2kg 75.347,846 75.309,266
USD 5kg 188.369,615 188.273,165
12/06/16 15:08:37
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 229,583 229,519
GBP 1/2oz 15,55g 459,165 459,038
GBP 1oz 31,10g 918,331 918,076
GBP 2oz 62,20g 1.836,661 1.836,153
GBP 5oz 155,51g 4.591,654 4.590,382
GBP 10oz 311,04g 9.183,307 9.180,764
GBP 12oz 373,24g 11.019,969 11.016,916
GBP 20oz 622,07g 18.366,614 18.361,527
GBP 25oz 777,59g 22.958,268 22.951,909
GBP 1,0g 29,525 29,517
GBP 2,0g 59,050 59,034
GBP 5,0g 147,625 147,584
GBP 10,0g 295,250 295,168
GBP 20,0g 590,500 590,337
GBP 25,0g 738,125 737,921
GBP 50,0g 1.476,251 1.475,842
GBP 100,0g 2.952,502 2.951,684
GBP 200,0g 5.905,004 5.903,368
GBP 250,0g 7.381,255 7.379,210
GBP 500,0g 14.762,509 14.758,420
GBP 1kg 29.525,018 29.516,840
GBP 2kg 59.050,036 59.033,680
GBP 5kg 147.625,090 147.584,200
12/06/16 15:08:37
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 295,906 295,667
CHF 1/2oz 15,55g 591,813 591,334
CHF 1oz 31,10g 1.183,625 1.182,668
CHF 2oz 62,20g 2.367,250 2.365,335
CHF 5oz 155,51g 5.918,125 5.913,338
CHF 10oz 311,04g 11.836,251 11.826,677
CHF 12oz 373,24g 14.203,501 14.192,012
CHF 20oz 622,07g 23.672,502 23.653,353
CHF 25oz 777,59g 29.590,627 29.566,692
CHF 1,0g 38,054 38,024
CHF 2,0g 76,109 76,047
CHF 5,0g 190,272 190,118
CHF 10,0g 380,544 380,236
CHF 20,0g 761,089 760,473
CHF 25,0g 951,361 950,591
CHF 50,0g 1.902,722 1.901,182
CHF 100,0g 3.805,443 3.802,365
CHF 200,0g 7.610,886 7.604,730
CHF 250,0g 9.513,608 9.505,912
CHF 500,0g 19.027,215 19.011,824
CHF 1kg 38.054,430 38.023,648
CHF 2kg 76.108,860 76.047,296
CHF 5kg 190.272,150 190.118,240
12/06/16 15:08:37
No responsibility is taken for the correctness of this information!
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