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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 287,913 287,854
EUR 1/2oz 15,55g 575,826 575,708
EUR 1oz 31,10g 1.151,653 1.151,417
EUR 2oz 62,20g 2.303,305 2.302,834
EUR 5oz 155,51g 5.758,263 5.757,085
EUR 10oz 311,04g 11.516,526 11.514,169
EUR 12oz 373,24g 13.819,832 13.817,003
EUR 20oz 622,07g 23.033,053 23.028,339
EUR 25oz 777,59g 28.791,316 28.785,423
EUR 1,0g 37,026 37,019
EUR 2,0g 74,053 74,038
EUR 5,0g 185,132 185,095
EUR 10,0g 370,265 370,189
EUR 20,0g 740,530 740,378
EUR 25,0g 925,662 925,473
EUR 50,0g 1.851,325 1.850,946
EUR 100,0g 3.702,649 3.701,891
EUR 200,0g 7.405,298 7.403,783
EUR 250,0g 9.256,623 9.254,729
EUR 500,0g 18.513,246 18.509,457
EUR 1kg 37.026,491 37.018,914
EUR 2kg 74.052,982 74.037,828
EUR 5kg 185.132,455 185.094,570
03/25/2017 02:56:28
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 310,975 310,825
USD 1/2oz 15,55g 621,950 621,650
USD 1oz 31,10g 1.243,900 1.243,300
USD 2oz 62,20g 2.487,800 2.486,600
USD 5oz 155,51g 6.219,500 6.216,500
USD 10oz 311,04g 12.439,000 12.433,000
USD 12oz 373,24g 14.926,800 14.919,600
USD 20oz 622,07g 24.878,000 24.866,000
USD 25oz 777,59g 31.097,500 31.082,500
USD 1,0g 39,992 39,973
USD 2,0g 79,985 79,946
USD 5,0g 199,962 199,865
USD 10,0g 399,923 399,730
USD 20,0g 799,846 799,460
USD 25,0g 999,808 999,326
USD 50,0g 1.999,616 1.998,651
USD 100,0g 3.999,231 3.997,302
USD 200,0g 7.998,463 7.994,605
USD 250,0g 9.998,078 9.993,256
USD 500,0g 19.996,157 19.986,512
USD 1kg 39.992,313 39.973,023
USD 2kg 79.984,626 79.946,046
USD 5kg 199.961,565 199.865,115
03/25/2017 02:56:28
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 249,279 249,218
GBP 1/2oz 15,55g 498,557 498,436
GBP 1oz 31,10g 997,114 996,873
GBP 2oz 62,20g 1.994,228 1.993,746
GBP 5oz 155,51g 4.985,571 4.984,365
GBP 10oz 311,04g 9.971,142 9.968,730
GBP 12oz 373,24g 11.965,371 11.962,476
GBP 20oz 622,07g 19.942,285 19.937,460
GBP 25oz 777,59g 24.927,856 24.921,825
GBP 1,0g 32,058 32,050
GBP 2,0g 64,116 64,100
GBP 5,0g 160,290 160,251
GBP 10,0g 320,580 320,502
GBP 20,0g 641,159 641,004
GBP 25,0g 801,449 801,255
GBP 50,0g 1.602,898 1.602,511
GBP 100,0g 3.205,797 3.205,021
GBP 200,0g 6.411,593 6.410,042
GBP 250,0g 8.014,492 8.012,553
GBP 500,0g 16.028,984 16.025,106
GBP 1kg 32.057,967 32.050,211
GBP 2kg 64.115,934 64.100,422
GBP 5kg 160.289,835 160.251,055
03/25/2017 02:56:28
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 308,394 308,090
CHF 1/2oz 15,55g 616,788 616,179
CHF 1oz 31,10g 1.233,576 1.232,359
CHF 2oz 62,20g 2.467,151 2.464,718
CHF 5oz 155,51g 6.167,878 6.161,795
CHF 10oz 311,04g 12.335,756 12.323,590
CHF 12oz 373,24g 14.802,908 14.788,308
CHF 20oz 622,07g 24.671,513 24.647,179
CHF 25oz 777,59g 30.839,391 30.808,974
CHF 1,0g 39,660 39,621
CHF 2,0g 79,321 79,243
CHF 5,0g 198,302 198,106
CHF 10,0g 396,604 396,213
CHF 20,0g 793,208 792,425
CHF 25,0g 991,509 990,532
CHF 50,0g 1.983,019 1.981,063
CHF 100,0g 3.966,038 3.962,126
CHF 200,0g 7.932,075 7.924,252
CHF 250,0g 9.915,094 9.905,315
CHF 500,0g 19.830,189 19.810,630
CHF 1kg 39.660,377 39.621,260
CHF 2kg 79.320,754 79.242,520
CHF 5kg 198.301,885 198.106,300
03/25/2017 02:56:28
No responsibility is taken for the correctness of this information!
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