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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 296,021 295,963
EUR 1/2oz 15,55g 592,041 591,926
EUR 1oz 31,10g 1.184,082 1.183,851
EUR 2oz 62,20g 2.368,165 2.367,702
EUR 5oz 155,51g 5.920,412 5.919,256
EUR 10oz 311,04g 11.840,823 11.838,512
EUR 12oz 373,24g 14.208,988 14.206,214
EUR 20oz 622,07g 23.681,647 23.677,023
EUR 25oz 777,59g 29.602,058 29.596,279
EUR 1,0g 38,069 38,062
EUR 2,0g 76,138 76,123
EUR 5,0g 190,346 190,308
EUR 10,0g 380,691 380,617
EUR 20,0g 761,383 761,234
EUR 25,0g 951,728 951,542
EUR 50,0g 1.903,457 1.903,085
EUR 100,0g 3.806,913 3.806,170
EUR 200,0g 7.613,826 7.612,340
EUR 250,0g 9.517,283 9.515,425
EUR 500,0g 19.034,566 19.030,850
EUR 1kg 38.069,131 38.061,699
EUR 2kg 76.138,262 76.123,398
EUR 5kg 190.345,655 190.308,495
02/28/2017 06:38:29
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 313,545 313,395
USD 1/2oz 15,55g 627,090 626,790
USD 1oz 31,10g 1.254,180 1.253,580
USD 2oz 62,20g 2.508,360 2.507,160
USD 5oz 155,51g 6.270,900 6.267,900
USD 10oz 311,04g 12.541,800 12.535,800
USD 12oz 373,24g 15.050,160 15.042,960
USD 20oz 622,07g 25.083,600 25.071,600
USD 25oz 777,59g 31.354,500 31.339,500
USD 1,0g 40,323 40,304
USD 2,0g 80,646 80,607
USD 5,0g 201,614 201,518
USD 10,0g 403,228 403,035
USD 20,0g 806,456 806,071
USD 25,0g 1.008,071 1.007,588
USD 50,0g 2.016,141 2.015,177
USD 100,0g 4.032,282 4.030,353
USD 200,0g 8.064,565 8.060,707
USD 250,0g 10.080,706 10.075,883
USD 500,0g 20.161,412 20.151,767
USD 1kg 40.322,823 40.303,533
USD 2kg 80.645,646 80.607,066
USD 5kg 201.614,115 201.517,665
02/28/2017 06:38:29
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 252,026 251,966
GBP 1/2oz 15,55g 504,051 503,932
GBP 1oz 31,10g 1.008,102 1.007,863
GBP 2oz 62,20g 2.016,204 2.015,726
GBP 5oz 155,51g 5.040,511 5.039,315
GBP 10oz 311,04g 10.081,022 10.078,630
GBP 12oz 373,24g 12.097,227 12.094,356
GBP 20oz 622,07g 20.162,045 20.157,260
GBP 25oz 777,59g 25.202,556 25.196,575
GBP 1,0g 32,411 32,404
GBP 2,0g 64,822 64,807
GBP 5,0g 162,056 162,018
GBP 10,0g 324,112 324,035
GBP 20,0g 648,225 648,071
GBP 25,0g 810,281 810,089
GBP 50,0g 1.620,562 1.620,177
GBP 100,0g 3.241,124 3.240,355
GBP 200,0g 6.482,248 6.480,710
GBP 250,0g 8.102,810 8.100,887
GBP 500,0g 16.205,620 16.201,774
GBP 1kg 32.411,240 32.403,548
GBP 2kg 64.822,480 64.807,096
GBP 5kg 162.056,200 162.017,740
02/28/2017 06:38:29
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 316,053 315,808
CHF 1/2oz 15,55g 632,107 631,616
CHF 1oz 31,10g 1.264,213 1.263,233
CHF 2oz 62,20g 2.528,427 2.526,465
CHF 5oz 155,51g 6.321,067 6.316,163
CHF 10oz 311,04g 12.642,134 12.632,326
CHF 12oz 373,24g 15.170,561 15.158,791
CHF 20oz 622,07g 25.284,269 25.264,651
CHF 25oz 777,59g 31.605,336 31.580,814
CHF 1,0g 40,645 40,614
CHF 2,0g 81,291 81,228
CHF 5,0g 203,227 203,069
CHF 10,0g 406,454 406,139
CHF 20,0g 812,908 812,277
CHF 25,0g 1.016,135 1.015,347
CHF 50,0g 2.032,270 2.030,694
CHF 100,0g 4.064,541 4.061,387
CHF 200,0g 8.129,081 8.122,774
CHF 250,0g 10.161,352 10.153,468
CHF 500,0g 20.322,703 20.306,935
CHF 1kg 40.645,406 40.613,870
CHF 2kg 81.290,812 81.227,740
CHF 5kg 203.227,030 203.069,350
02/28/2017 06:38:29
No responsibility is taken for the correctness of this information!
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