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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 278,841 278,778
EUR 1/2oz 15,55g 557,683 557,557
EUR 1oz 31,10g 1.115,366 1.115,114
EUR 2oz 62,20g 2.230,731 2.230,228
EUR 5oz 155,51g 5.576,828 5.575,569
EUR 10oz 311,04g 11.153,656 11.151,139
EUR 12oz 373,24g 13.384,388 13.381,366
EUR 20oz 622,07g 22.307,313 22.302,277
EUR 25oz 777,59g 27.884,141 27.877,846
EUR 1,0g 35,860 35,852
EUR 2,0g 71,720 71,703
EUR 5,0g 179,299 179,259
EUR 10,0g 358,598 358,517
EUR 20,0g 717,197 717,035
EUR 25,0g 896,496 896,294
EUR 50,0g 1.792,992 1.792,587
EUR 100,0g 3.585,984 3.585,174
EUR 200,0g 7.171,968 7.170,349
EUR 250,0g 8.964,960 8.962,936
EUR 500,0g 17.929,919 17.925,872
EUR 1kg 35.859,838 35.851,743
EUR 2kg 71.719,676 71.703,486
EUR 5kg 179.299,190 179.258,715
12/05/16 05:22:34
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 293,983 293,833
USD 1/2oz 15,55g 587,965 587,665
USD 1oz 31,10g 1.175,930 1.175,330
USD 2oz 62,20g 2.351,860 2.350,660
USD 5oz 155,51g 5.879,650 5.876,650
USD 10oz 311,04g 11.759,300 11.753,300
USD 12oz 373,24g 14.111,160 14.103,960
USD 20oz 622,07g 23.518,600 23.506,600
USD 25oz 777,59g 29.398,250 29.383,250
USD 1,0g 37,807 37,788
USD 2,0g 75,614 75,575
USD 5,0g 189,035 188,939
USD 10,0g 378,070 377,877
USD 20,0g 756,141 755,755
USD 25,0g 945,176 944,693
USD 50,0g 1.890,351 1.889,387
USD 100,0g 3.780,703 3.778,774
USD 200,0g 7.561,405 7.557,547
USD 250,0g 9.451,757 9.446,934
USD 500,0g 18.903,514 18.893,869
USD 1kg 37.807,027 37.787,737
USD 2kg 75.614,054 75.575,474
USD 5kg 189.035,135 188.938,685
12/05/16 05:22:34
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 231,738 231,674
GBP 1/2oz 15,55g 463,475 463,349
GBP 1oz 31,10g 926,951 926,697
GBP 2oz 62,20g 1.853,902 1.853,394
GBP 5oz 155,51g 4.634,755 4.633,486
GBP 10oz 311,04g 9.269,510 9.266,972
GBP 12oz 373,24g 11.123,412 11.120,366
GBP 20oz 622,07g 18.539,019 18.533,943
GBP 25oz 777,59g 23.173,774 23.167,429
GBP 1,0g 29,802 29,794
GBP 2,0g 59,604 59,588
GBP 5,0g 149,011 148,970
GBP 10,0g 298,022 297,940
GBP 20,0g 596,043 595,880
GBP 25,0g 745,054 744,850
GBP 50,0g 1.490,108 1.489,700
GBP 100,0g 2.980,217 2.979,401
GBP 200,0g 5.960,433 5.958,801
GBP 250,0g 7.450,542 7.448,501
GBP 500,0g 14.901,083 14.897,003
GBP 1kg 29.802,166 29.794,005
GBP 2kg 59.604,332 59.588,010
GBP 5kg 149.010,830 148.970,025
12/05/16 05:22:34
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 299,215 298,975
CHF 1/2oz 15,55g 598,431 597,949
CHF 1oz 31,10g 1.196,862 1.195,898
CHF 2oz 62,20g 2.393,723 2.391,797
CHF 5oz 155,51g 5.984,308 5.979,491
CHF 10oz 311,04g 11.968,616 11.958,983
CHF 12oz 373,24g 14.362,339 14.350,779
CHF 20oz 622,07g 23.937,231 23.917,966
CHF 25oz 777,59g 29.921,539 29.897,457
CHF 1,0g 38,480 38,449
CHF 2,0g 76,960 76,898
CHF 5,0g 192,400 192,245
CHF 10,0g 384,800 384,490
CHF 20,0g 769,600 768,980
CHF 25,0g 962,000 961,226
CHF 50,0g 1.924,000 1.922,451
CHF 100,0g 3.847,999 3.844,902
CHF 200,0g 7.695,999 7.689,804
CHF 250,0g 9.619,998 9.612,256
CHF 500,0g 19.239,997 19.224,511
CHF 1kg 38.479,993 38.449,022
CHF 2kg 76.959,986 76.898,044
CHF 5kg 192.399,965 192.245,110
12/05/16 05:22:34
No responsibility is taken for the correctness of this information!
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