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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 288,330 288,272
EUR 1/2oz 15,55g 576,660 576,544
EUR 1oz 31,10g 1.153,320 1.153,088
EUR 2oz 62,20g 2.306,640 2.306,176
EUR 5oz 155,51g 5.766,600 5.765,439
EUR 10oz 311,04g 11.533,199 11.530,879
EUR 12oz 373,24g 13.839,839 13.837,055
EUR 20oz 622,07g 23.066,399 23.061,758
EUR 25oz 777,59g 28.832,998 28.827,197
EUR 1,0g 37,080 37,073
EUR 2,0g 74,160 74,145
EUR 5,0g 185,400 185,363
EUR 10,0g 370,801 370,726
EUR 20,0g 741,602 741,453
EUR 25,0g 927,002 926,816
EUR 50,0g 1.854,005 1.853,632
EUR 100,0g 3.708,010 3.707,264
EUR 200,0g 7.416,019 7.414,527
EUR 250,0g 9.270,024 9.268,159
EUR 500,0g 18.540,049 18.536,318
EUR 1kg 37.080,097 37.072,636
EUR 2kg 74.160,194 74.145,272
EUR 5kg 185.400,485 185.363,180
04/25/2017 18:23:12
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 315,693 315,543
USD 1/2oz 15,55g 631,385 631,085
USD 1oz 31,10g 1.262,770 1.262,170
USD 2oz 62,20g 2.525,540 2.524,340
USD 5oz 155,51g 6.313,850 6.310,850
USD 10oz 311,04g 12.627,700 12.621,700
USD 12oz 373,24g 15.153,240 15.146,040
USD 20oz 622,07g 25.255,400 25.243,400
USD 25oz 777,59g 31.569,250 31.554,250
USD 1,0g 40,599 40,580
USD 2,0g 81,198 81,159
USD 5,0g 202,995 202,899
USD 10,0g 405,990 405,797
USD 20,0g 811,980 811,594
USD 25,0g 1.014,975 1.014,493
USD 50,0g 2.029,950 2.028,985
USD 100,0g 4.059,900 4.057,971
USD 200,0g 8.119,800 8.115,942
USD 250,0g 10.149,750 10.144,927
USD 500,0g 20.299,499 20.289,854
USD 1kg 40.598,998 40.579,708
USD 2kg 81.197,996 81.159,416
USD 5kg 202.994,990 202.898,540
04/25/2017 18:23:12
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 245,866 245,807
GBP 1/2oz 15,55g 491,733 491,614
GBP 1oz 31,10g 983,466 983,228
GBP 2oz 62,20g 1.966,931 1.966,456
GBP 5oz 155,51g 4.917,329 4.916,141
GBP 10oz 311,04g 9.834,657 9.832,282
GBP 12oz 373,24g 11.801,589 11.798,738
GBP 20oz 622,07g 19.669,315 19.664,563
GBP 25oz 777,59g 24.586,643 24.580,704
GBP 1,0g 31,619 31,612
GBP 2,0g 63,238 63,223
GBP 5,0g 158,096 158,058
GBP 10,0g 316,192 316,115
GBP 20,0g 632,383 632,230
GBP 25,0g 790,479 790,288
GBP 50,0g 1.580,958 1.580,576
GBP 100,0g 3.161,916 3.161,152
GBP 200,0g 6.323,831 6.322,304
GBP 250,0g 7.904,789 7.902,880
GBP 500,0g 15.809,579 15.805,760
GBP 1kg 31.619,157 31.611,519
GBP 2kg 63.238,314 63.223,038
GBP 5kg 158.095,785 158.057,595
04/25/2017 18:23:12
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 313,483 313,239
CHF 1/2oz 15,55g 626,965 626,478
CHF 1oz 31,10g 1.253,931 1.252,956
CHF 2oz 62,20g 2.507,861 2.505,912
CHF 5oz 155,51g 6.269,653 6.264,781
CHF 10oz 311,04g 12.539,306 12.529,562
CHF 12oz 373,24g 15.047,167 15.035,474
CHF 20oz 622,07g 25.078,612 25.059,123
CHF 25oz 777,59g 31.348,265 31.323,904
CHF 1,0g 40,315 40,283
CHF 2,0g 80,630 80,567
CHF 5,0g 201,574 201,417
CHF 10,0g 403,148 402,835
CHF 20,0g 806,296 805,670
CHF 25,0g 1.007,870 1.007,087
CHF 50,0g 2.015,740 2.014,174
CHF 100,0g 4.031,481 4.028,348
CHF 200,0g 8.062,961 8.056,695
CHF 250,0g 10.078,701 10.070,869
CHF 500,0g 20.157,403 20.141,738
CHF 1kg 40.314,805 40.283,476
CHF 2kg 80.629,610 80.566,952
CHF 5kg 201.574,025 201.417,380
04/25/2017 18:23:12
No responsibility is taken for the correctness of this information!
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