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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 283,625 283,564
EUR 1/2oz 15,55g 567,250 567,129
EUR 1oz 31,10g 1.134,500 1.134,258
EUR 2oz 62,20g 2.269,001 2.268,516
EUR 5oz 155,51g 5.672,502 5.671,290
EUR 10oz 311,04g 11.345,005 11.342,580
EUR 12oz 373,24g 13.614,006 13.611,096
EUR 20oz 622,07g 22.690,009 22.685,159
EUR 25oz 777,59g 28.362,512 28.356,449
EUR 1,0g 36,475 36,467
EUR 2,0g 72,950 72,934
EUR 5,0g 182,375 182,336
EUR 10,0g 364,750 364,672
EUR 20,0g 729,501 729,345
EUR 25,0g 911,876 911,681
EUR 50,0g 1.823,752 1.823,362
EUR 100,0g 3.647,504 3.646,724
EUR 200,0g 7.295,007 7.293,448
EUR 250,0g 9.118,759 9.116,810
EUR 500,0g 18.237,519 18.233,620
EUR 1kg 36.475,037 36.467,240
EUR 2kg 72.950,074 72.934,480
EUR 5kg 182.375,185 182.336,200
01/17/2017 16:05:49
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 303,763 303,613
USD 1/2oz 15,55g 607,525 607,225
USD 1oz 31,10g 1.215,050 1.214,450
USD 2oz 62,20g 2.430,100 2.428,900
USD 5oz 155,51g 6.075,250 6.072,250
USD 10oz 311,04g 12.150,500 12.144,500
USD 12oz 373,24g 14.580,600 14.573,400
USD 20oz 622,07g 24.301,000 24.289,000
USD 25oz 777,59g 30.376,250 30.361,250
USD 1,0g 39,065 39,045
USD 2,0g 78,130 78,091
USD 5,0g 195,324 195,227
USD 10,0g 390,648 390,455
USD 20,0g 781,295 780,909
USD 25,0g 976,619 976,137
USD 50,0g 1.953,238 1.952,274
USD 100,0g 3.906,476 3.904,547
USD 200,0g 7.812,953 7.809,095
USD 250,0g 9.766,191 9.761,369
USD 500,0g 19.532,382 19.522,737
USD 1kg 39.064,764 39.045,474
USD 2kg 78.129,528 78.090,948
USD 5kg 195.323,820 195.227,370
01/17/2017 16:05:49
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 245,227 245,165
GBP 1/2oz 15,55g 490,454 490,330
GBP 1oz 31,10g 980,907 980,661
GBP 2oz 62,20g 1.961,815 1.961,321
GBP 5oz 155,51g 4.904,537 4.903,303
GBP 10oz 311,04g 9.809,074 9.806,605
GBP 12oz 373,24g 11.770,889 11.767,926
GBP 20oz 622,07g 19.618,148 19.613,211
GBP 25oz 777,59g 24.522,685 24.516,513
GBP 1,0g 31,537 31,529
GBP 2,0g 63,074 63,058
GBP 5,0g 157,685 157,645
GBP 10,0g 315,369 315,290
GBP 20,0g 630,738 630,579
GBP 25,0g 788,423 788,224
GBP 50,0g 1.576,845 1.576,448
GBP 100,0g 3.153,691 3.152,897
GBP 200,0g 6.307,381 6.305,794
GBP 250,0g 7.884,226 7.882,242
GBP 500,0g 15.768,453 15.764,484
GBP 1kg 31.536,905 31.528,968
GBP 2kg 63.073,810 63.057,936
GBP 5kg 157.684,525 157.644,840
01/17/2017 16:05:49
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 303,823 303,582
CHF 1/2oz 15,55g 607,647 607,164
CHF 1oz 31,10g 1.215,293 1.214,329
CHF 2oz 62,20g 2.430,586 2.428,657
CHF 5oz 155,51g 6.076,465 6.071,643
CHF 10oz 311,04g 12.152,930 12.143,286
CHF 12oz 373,24g 14.583,516 14.571,943
CHF 20oz 622,07g 24.305,860 24.286,571
CHF 25oz 777,59g 30.382,325 30.358,214
CHF 1,0g 39,073 39,042
CHF 2,0g 78,145 78,083
CHF 5,0g 195,363 195,208
CHF 10,0g 390,726 390,416
CHF 20,0g 781,452 780,831
CHF 25,0g 976,814 976,039
CHF 50,0g 1.953,629 1.952,078
CHF 100,0g 3.907,258 3.904,157
CHF 200,0g 7.814,515 7.808,314
CHF 250,0g 9.768,144 9.760,392
CHF 500,0g 19.536,289 19.520,785
CHF 1kg 39.072,577 39.041,569
CHF 2kg 78.145,154 78.083,138
CHF 5kg 195.362,885 195.207,845
01/17/2017 16:05:49
No responsibility is taken for the correctness of this information!
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