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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 291,004 290,947
EUR 1/2oz 15,55g 582,009 581,893
EUR 1oz 31,10g 1.164,017 1.163,787
EUR 2oz 62,20g 2.328,035 2.327,574
EUR 5oz 155,51g 5.820,086 5.818,934
EUR 10oz 311,04g 11.640,173 11.637,868
EUR 12oz 373,24g 13.968,207 13.965,441
EUR 20oz 622,07g 23.280,346 23.275,735
EUR 25oz 777,59g 29.100,432 29.094,669
EUR 1,0g 37,424 37,417
EUR 2,0g 74,848 74,833
EUR 5,0g 187,120 187,083
EUR 10,0g 374,240 374,166
EUR 20,0g 748,480 748,332
EUR 25,0g 935,601 935,415
EUR 50,0g 1.871,201 1.870,831
EUR 100,0g 3.742,402 3.741,661
EUR 200,0g 7.484,805 7.483,323
EUR 250,0g 9.356,006 9.354,153
EUR 500,0g 18.712,012 18.708,307
EUR 1kg 37.424,024 37.416,613
EUR 2kg 74.848,048 74.833,226
EUR 5kg 187.120,120 187.083,065
10/23/16 22:19:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 316,700 316,550
USD 1/2oz 15,55g 633,400 633,100
USD 1oz 31,10g 1.266,800 1.266,200
USD 2oz 62,20g 2.533,600 2.532,400
USD 5oz 155,51g 6.334,000 6.331,000
USD 10oz 311,04g 12.668,000 12.662,000
USD 12oz 373,24g 15.201,600 15.194,400
USD 20oz 622,07g 25.336,000 25.324,000
USD 25oz 777,59g 31.670,000 31.655,000
USD 1,0g 40,729 40,709
USD 2,0g 81,457 81,419
USD 5,0g 203,643 203,546
USD 10,0g 407,286 407,093
USD 20,0g 814,571 814,186
USD 25,0g 1.018,214 1.017,732
USD 50,0g 2.036,428 2.035,464
USD 100,0g 4.072,857 4.070,928
USD 200,0g 8.145,713 8.141,855
USD 250,0g 10.182,142 10.177,319
USD 500,0g 20.364,283 20.354,638
USD 1kg 40.728,566 40.709,275
USD 2kg 81.457,132 81.418,550
USD 5kg 203.642,830 203.546,375
10/23/16 22:19:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 258,869 258,810
GBP 1/2oz 15,55g 517,737 517,619
GBP 1oz 31,10g 1.035,475 1.035,238
GBP 2oz 62,20g 2.070,950 2.070,477
GBP 5oz 155,51g 5.177,375 5.176,192
GBP 10oz 311,04g 10.354,749 10.352,383
GBP 12oz 373,24g 12.425,699 12.422,860
GBP 20oz 622,07g 20.709,498 20.704,767
GBP 25oz 777,59g 25.886,873 25.880,958
GBP 1,0g 33,291 33,284
GBP 2,0g 66,583 66,567
GBP 5,0g 166,456 166,418
GBP 10,0g 332,913 332,837
GBP 20,0g 665,826 665,674
GBP 25,0g 832,282 832,092
GBP 50,0g 1.664,565 1.664,184
GBP 100,0g 3.329,129 3.328,369
GBP 200,0g 6.658,258 6.656,737
GBP 250,0g 8.322,823 8.320,921
GBP 500,0g 16.645,646 16.641,843
GBP 1kg 33.291,291 33.283,685
GBP 2kg 66.582,582 66.567,370
GBP 5kg 166.456,455 166.418,425
10/23/16 22:19:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 314,673 314,429
CHF 1/2oz 15,55g 629,346 628,858
CHF 1oz 31,10g 1.258,692 1.257,716
CHF 2oz 62,20g 2.517,385 2.515,433
CHF 5oz 155,51g 6.293,462 6.288,582
CHF 10oz 311,04g 12.586,925 12.577,165
CHF 12oz 373,24g 15.104,310 15.092,598
CHF 20oz 622,07g 25.173,850 25.154,329
CHF 25oz 777,59g 31.467,312 31.442,912
CHF 1,0g 40,468 40,437
CHF 2,0g 80,936 80,873
CHF 5,0g 202,340 202,183
CHF 10,0g 404,679 404,365
CHF 20,0g 809,358 808,730
CHF 25,0g 1.011,698 1.010,913
CHF 50,0g 2.023,395 2.021,826
CHF 100,0g 4.046,790 4.043,652
CHF 200,0g 8.093,581 8.087,305
CHF 250,0g 10.116,976 10.109,131
CHF 500,0g 20.233,952 20.218,262
CHF 1kg 40.467,903 40.436,523
CHF 2kg 80.935,806 80.873,046
CHF 5kg 202.339,515 202.182,615
10/23/16 22:19:32
No responsibility is taken for the correctness of this information!
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