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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 297,591 297,533
EUR 1/2oz 15,55g 595,182 595,067
EUR 1oz 31,10g 1.190,363 1.190,134
EUR 2oz 62,20g 2.380,727 2.380,267
EUR 5oz 155,51g 5.951,817 5.950,668
EUR 10oz 311,04g 11.903,635 11.901,335
EUR 12oz 373,24g 14.284,362 14.281,602
EUR 20oz 622,07g 23.807,270 23.802,670
EUR 25oz 777,59g 29.759,087 29.753,338
EUR 1,0g 38,271 38,264
EUR 2,0g 76,542 76,527
EUR 5,0g 191,355 191,318
EUR 10,0g 382,711 382,637
EUR 20,0g 765,422 765,274
EUR 25,0g 956,777 956,592
EUR 50,0g 1.913,554 1.913,184
EUR 100,0g 3.827,108 3.826,368
EUR 200,0g 7.654,215 7.652,736
EUR 250,0g 9.567,769 9.565,920
EUR 500,0g 19.135,538 19.131,841
EUR 1kg 38.271,075 38.263,681
EUR 2kg 76.542,150 76.527,362
EUR 5kg 191.355,375 191.318,405
02/26/2017 22:49:09
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 314,375 314,225
USD 1/2oz 15,55g 628,750 628,450
USD 1oz 31,10g 1.257,500 1.256,900
USD 2oz 62,20g 2.515,000 2.513,800
USD 5oz 155,51g 6.287,500 6.284,500
USD 10oz 311,04g 12.575,000 12.569,000
USD 12oz 373,24g 15.090,000 15.082,800
USD 20oz 622,07g 25.150,000 25.138,000
USD 25oz 777,59g 31.437,500 31.422,500
USD 1,0g 40,430 40,410
USD 2,0g 80,859 80,821
USD 5,0g 202,148 202,051
USD 10,0g 404,296 404,103
USD 20,0g 808,591 808,205
USD 25,0g 1.010,739 1.010,257
USD 50,0g 2.021,478 2.020,514
USD 100,0g 4.042,956 4.041,027
USD 200,0g 8.085,913 8.082,055
USD 250,0g 10.107,391 10.102,568
USD 500,0g 20.214,782 20.205,137
USD 1kg 40.429,564 40.410,273
USD 2kg 80.859,128 80.820,546
USD 5kg 202.147,820 202.051,365
02/26/2017 22:49:09
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 252,206 252,147
GBP 1/2oz 15,55g 504,412 504,293
GBP 1oz 31,10g 1.008,825 1.008,586
GBP 2oz 62,20g 2.017,649 2.017,172
GBP 5oz 155,51g 5.044,124 5.042,931
GBP 10oz 311,04g 10.088,247 10.085,861
GBP 12oz 373,24g 12.105,897 12.103,033
GBP 20oz 622,07g 20.176,494 20.171,722
GBP 25oz 777,59g 25.220,618 25.214,653
GBP 1,0g 32,434 32,427
GBP 2,0g 64,869 64,854
GBP 5,0g 162,172 162,134
GBP 10,0g 324,345 324,268
GBP 20,0g 648,689 648,536
GBP 25,0g 810,862 810,670
GBP 50,0g 1.621,723 1.621,340
GBP 100,0g 3.243,447 3.242,680
GBP 200,0g 6.486,893 6.485,359
GBP 250,0g 8.108,617 8.106,699
GBP 500,0g 16.217,234 16.213,398
GBP 1kg 32.434,467 32.426,796
GBP 2kg 64.868,934 64.853,592
GBP 5kg 162.172,335 162.133,980
02/26/2017 22:49:09
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 316,796 316,487
CHF 1/2oz 15,55g 633,591 632,975
CHF 1oz 31,10g 1.267,183 1.265,950
CHF 2oz 62,20g 2.534,366 2.531,899
CHF 5oz 155,51g 6.335,914 6.329,748
CHF 10oz 311,04g 12.671,828 12.659,497
CHF 12oz 373,24g 15.206,193 15.191,396
CHF 20oz 622,07g 25.343,655 25.318,994
CHF 25oz 777,59g 31.679,569 31.648,742
CHF 1,0g 40,741 40,701
CHF 2,0g 81,482 81,402
CHF 5,0g 203,704 203,506
CHF 10,0g 407,409 407,012
CHF 20,0g 814,817 814,025
CHF 25,0g 1.018,522 1.017,531
CHF 50,0g 2.037,044 2.035,061
CHF 100,0g 4.074,087 4.070,123
CHF 200,0g 8.148,174 8.140,245
CHF 250,0g 10.185,218 10.175,307
CHF 500,0g 20.370,436 20.350,614
CHF 1kg 40.740,871 40.701,227
CHF 2kg 81.481,742 81.402,454
CHF 5kg 203.704,355 203.506,135
02/26/2017 22:49:09
No responsibility is taken for the correctness of this information!
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