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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 282,442 282,381
EUR 1/2oz 15,55g 564,884 564,762
EUR 1oz 31,10g 1.129,768 1.129,523
EUR 2oz 62,20g 2.259,537 2.259,047
EUR 5oz 155,51g 5.648,841 5.647,616
EUR 10oz 311,04g 11.297,683 11.295,233
EUR 12oz 373,24g 13.557,219 13.554,279
EUR 20oz 622,07g 22.595,365 22.590,465
EUR 25oz 777,59g 28.244,207 28.238,082
EUR 1,0g 36,323 36,315
EUR 2,0g 72,646 72,630
EUR 5,0g 181,614 181,575
EUR 10,0g 363,229 363,150
EUR 20,0g 726,458 726,300
EUR 25,0g 908,072 907,875
EUR 50,0g 1.816,145 1.815,751
EUR 100,0g 3.632,289 3.631,502
EUR 200,0g 7.264,579 7.263,003
EUR 250,0g 9.080,723 9.078,754
EUR 500,0g 18.161,447 18.157,508
EUR 1kg 36.322,893 36.315,016
EUR 2kg 72.645,786 72.630,032
EUR 5kg 181.614,465 181.575,080
01/20/2017 14:58:11
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 301,055 300,905
USD 1/2oz 15,55g 602,110 601,810
USD 1oz 31,10g 1.204,220 1.203,620
USD 2oz 62,20g 2.408,440 2.407,240
USD 5oz 155,51g 6.021,100 6.018,100
USD 10oz 311,04g 12.042,200 12.036,200
USD 12oz 373,24g 14.450,640 14.443,440
USD 20oz 622,07g 24.084,400 24.072,400
USD 25oz 777,59g 30.105,500 30.090,500
USD 1,0g 38,717 38,697
USD 2,0g 77,433 77,395
USD 5,0g 193,583 193,486
USD 10,0g 387,166 386,973
USD 20,0g 774,331 773,946
USD 25,0g 967,914 967,432
USD 50,0g 1.935,829 1.934,864
USD 100,0g 3.871,657 3.869,728
USD 200,0g 7.743,314 7.739,456
USD 250,0g 9.679,143 9.674,320
USD 500,0g 19.358,286 19.348,641
USD 1kg 38.716,572 38.697,281
USD 2kg 77.433,144 77.394,562
USD 5kg 193.582,860 193.486,405
01/20/2017 14:58:11
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 244,780 244,718
GBP 1/2oz 15,55g 489,560 489,436
GBP 1oz 31,10g 979,120 978,871
GBP 2oz 62,20g 1.958,241 1.957,742
GBP 5oz 155,51g 4.895,601 4.894,356
GBP 10oz 311,04g 9.791,203 9.788,712
GBP 12oz 373,24g 11.749,443 11.746,454
GBP 20oz 622,07g 19.582,405 19.577,424
GBP 25oz 777,59g 24.478,006 24.471,779
GBP 1,0g 31,479 31,471
GBP 2,0g 62,959 62,943
GBP 5,0g 157,397 157,357
GBP 10,0g 314,794 314,714
GBP 20,0g 629,589 629,429
GBP 25,0g 786,986 786,786
GBP 50,0g 1.573,972 1.573,572
GBP 100,0g 3.147,945 3.147,144
GBP 200,0g 6.295,889 6.294,288
GBP 250,0g 7.869,862 7.867,860
GBP 500,0g 15.739,724 15.735,720
GBP 1kg 31.479,447 31.471,439
GBP 2kg 62.958,894 62.942,878
GBP 5kg 157.397,235 157.357,195
01/20/2017 14:58:11
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 303,162 302,921
CHF 1/2oz 15,55g 606,325 605,842
CHF 1oz 31,10g 1.212,650 1.211,684
CHF 2oz 62,20g 2.425,299 2.423,369
CHF 5oz 155,51g 6.063,248 6.058,421
CHF 10oz 311,04g 12.126,495 12.116,843
CHF 12oz 373,24g 14.551,794 14.540,211
CHF 20oz 622,07g 24.252,991 24.233,685
CHF 25oz 777,59g 30.316,239 30.292,106
CHF 1,0g 38,988 38,957
CHF 2,0g 77,975 77,913
CHF 5,0g 194,938 194,783
CHF 10,0g 389,876 389,566
CHF 20,0g 779,752 779,131
CHF 25,0g 974,690 973,914
CHF 50,0g 1.949,379 1.947,828
CHF 100,0g 3.898,759 3.895,655
CHF 200,0g 7.797,518 7.791,311
CHF 250,0g 9.746,897 9.739,138
CHF 500,0g 19.493,794 19.478,277
CHF 1kg 38.987,588 38.956,553
CHF 2kg 77.975,176 77.913,106
CHF 5kg 194.937,940 194.782,765
01/20/2017 14:58:11
No responsibility is taken for the correctness of this information!
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