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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 291,169 291,112
EUR 1/2oz 15,55g 582,338 582,223
EUR 1oz 31,10g 1.164,676 1.164,446
EUR 2oz 62,20g 2.329,352 2.328,893
EUR 5oz 155,51g 5.823,379 5.822,232
EUR 10oz 311,04g 11.646,758 11.644,465
EUR 12oz 373,24g 13.976,109 13.973,358
EUR 20oz 622,07g 23.293,515 23.288,930
EUR 25oz 777,59g 29.116,894 29.111,162
EUR 1,0g 37,445 37,438
EUR 2,0g 74,890 74,876
EUR 5,0g 187,226 187,189
EUR 10,0g 374,452 374,378
EUR 20,0g 748,904 748,756
EUR 25,0g 936,130 935,946
EUR 50,0g 1.872,260 1.871,891
EUR 100,0g 3.744,520 3.743,782
EUR 200,0g 7.489,039 7.487,565
EUR 250,0g 9.361,299 9.359,456
EUR 500,0g 18.722,598 18.718,912
EUR 1kg 37.445,195 37.437,824
EUR 2kg 74.890,390 74.875,648
EUR 5kg 187.225,975 187.189,120
10/28/16 15:57:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 318,335 318,185
USD 1/2oz 15,55g 636,670 636,370
USD 1oz 31,10g 1.273,340 1.272,740
USD 2oz 62,20g 2.546,680 2.545,480
USD 5oz 155,51g 6.366,700 6.363,700
USD 10oz 311,04g 12.733,400 12.727,400
USD 12oz 373,24g 15.280,080 15.272,880
USD 20oz 622,07g 25.466,800 25.454,800
USD 25oz 777,59g 31.833,500 31.818,500
USD 1,0g 40,939 40,920
USD 2,0g 81,878 81,839
USD 5,0g 204,694 204,598
USD 10,0g 409,388 409,195
USD 20,0g 818,777 818,391
USD 25,0g 1.023,471 1.022,989
USD 50,0g 2.046,942 2.045,977
USD 100,0g 4.093,883 4.091,954
USD 200,0g 8.187,766 8.183,908
USD 250,0g 10.234,708 10.229,885
USD 500,0g 20.469,416 20.459,771
USD 1kg 40.938,832 40.919,541
USD 2kg 81.877,664 81.839,082
USD 5kg 204.694,160 204.597,705
10/28/16 15:57:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 261,337 261,279
GBP 1/2oz 15,55g 522,675 522,557
GBP 1oz 31,10g 1.045,349 1.045,114
GBP 2oz 62,20g 2.090,699 2.090,228
GBP 5oz 155,51g 5.226,747 5.225,571
GBP 10oz 311,04g 10.453,493 10.451,141
GBP 12oz 373,24g 12.544,192 12.541,370
GBP 20oz 622,07g 20.906,986 20.902,283
GBP 25oz 777,59g 26.133,733 26.127,854
GBP 1,0g 33,609 33,601
GBP 2,0g 67,218 67,202
GBP 5,0g 168,044 168,006
GBP 10,0g 336,088 336,012
GBP 20,0g 672,175 672,024
GBP 25,0g 840,219 840,030
GBP 50,0g 1.680,438 1.680,060
GBP 100,0g 3.360,876 3.360,120
GBP 200,0g 6.721,752 6.720,240
GBP 250,0g 8.402,190 8.400,300
GBP 500,0g 16.804,381 16.800,600
GBP 1kg 33.608,761 33.601,200
GBP 2kg 67.217,522 67.202,400
GBP 5kg 168.043,805 168.006,000
10/28/16 15:57:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 316,107 315,862
CHF 1/2oz 15,55g 632,213 631,724
CHF 1oz 31,10g 1.264,427 1.263,449
CHF 2oz 62,20g 2.528,853 2.526,898
CHF 5oz 155,51g 6.322,133 6.317,245
CHF 10oz 311,04g 12.644,266 12.634,490
CHF 12oz 373,24g 15.173,119 15.161,388
CHF 20oz 622,07g 25.288,532 25.268,980
CHF 25oz 777,59g 31.610,666 31.586,225
CHF 1,0g 40,652 40,621
CHF 2,0g 81,305 81,242
CHF 5,0g 203,261 203,104
CHF 10,0g 406,523 406,208
CHF 20,0g 813,045 812,417
CHF 25,0g 1.016,307 1.015,521
CHF 50,0g 2.032,613 2.031,041
CHF 100,0g 4.065,226 4.062,083
CHF 200,0g 8.130,452 8.124,166
CHF 250,0g 10.163,065 10.155,207
CHF 500,0g 20.326,130 20.310,415
CHF 1kg 40.652,260 40.620,829
CHF 2kg 81.304,520 81.241,658
CHF 5kg 203.261,300 203.104,145
10/28/16 15:57:32
No responsibility is taken for the correctness of this information!
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