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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 290,966 290,908
EUR 1/2oz 15,55g 581,932 581,817
EUR 1oz 31,10g 1.163,865 1.163,634
EUR 2oz 62,20g 2.327,730 2.327,268
EUR 5oz 155,51g 5.819,324 5.818,169
EUR 10oz 311,04g 11.638,649 11.636,339
EUR 12oz 373,24g 13.966,378 13.963,606
EUR 20oz 622,07g 23.277,297 23.272,677
EUR 25oz 777,59g 29.096,621 29.090,846
EUR 1,0g 37,419 37,412
EUR 2,0g 74,838 74,823
EUR 5,0g 187,096 187,058
EUR 10,0g 374,191 374,117
EUR 20,0g 748,382 748,234
EUR 25,0g 935,478 935,292
EUR 50,0g 1.870,956 1.870,585
EUR 100,0g 3.741,912 3.741,170
EUR 200,0g 7.483,825 7.482,339
EUR 250,0g 9.354,781 9.352,924
EUR 500,0g 18.709,562 18.705,849
EUR 1kg 37.419,124 37.411,697
EUR 2kg 74.838,248 74.823,394
EUR 5kg 187.095,620 187.058,485
10/24/16 03:36:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 316,048 315,898
USD 1/2oz 15,55g 632,095 631,795
USD 1oz 31,10g 1.264,190 1.263,590
USD 2oz 62,20g 2.528,380 2.527,180
USD 5oz 155,51g 6.320,950 6.317,950
USD 10oz 311,04g 12.641,900 12.635,900
USD 12oz 373,24g 15.170,280 15.163,080
USD 20oz 622,07g 25.283,800 25.271,800
USD 25oz 777,59g 31.604,750 31.589,750
USD 1,0g 40,645 40,625
USD 2,0g 81,289 81,251
USD 5,0g 203,223 203,127
USD 10,0g 406,447 406,254
USD 20,0g 812,893 812,507
USD 25,0g 1.016,116 1.015,634
USD 50,0g 2.032,233 2.031,268
USD 100,0g 4.064,465 4.062,536
USD 200,0g 8.128,930 8.125,072
USD 250,0g 10.161,163 10.156,341
USD 500,0g 20.322,326 20.312,681
USD 1kg 40.644,652 40.625,362
USD 2kg 81.289,304 81.250,724
USD 5kg 203.223,260 203.126,810
10/24/16 03:36:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 259,034 258,975
GBP 1/2oz 15,55g 518,068 517,950
GBP 1oz 31,10g 1.036,136 1.035,899
GBP 2oz 62,20g 2.072,273 2.071,799
GBP 5oz 155,51g 5.180,682 5.179,497
GBP 10oz 311,04g 10.361,364 10.358,993
GBP 12oz 373,24g 12.433,637 12.430,792
GBP 20oz 622,07g 20.722,728 20.717,987
GBP 25oz 777,59g 25.903,410 25.897,483
GBP 1,0g 33,313 33,305
GBP 2,0g 66,625 66,610
GBP 5,0g 166,563 166,525
GBP 10,0g 333,126 333,049
GBP 20,0g 666,251 666,099
GBP 25,0g 832,814 832,623
GBP 50,0g 1.665,628 1.665,247
GBP 100,0g 3.331,256 3.330,494
GBP 200,0g 6.662,512 6.660,987
GBP 250,0g 8.328,140 8.326,234
GBP 500,0g 16.656,279 16.652,469
GBP 1kg 33.312,558 33.304,937
GBP 2kg 66.625,116 66.609,874
GBP 5kg 166.562,790 166.524,685
10/24/16 03:36:32
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 314,688 314,444
CHF 1/2oz 15,55g 629,377 628,889
CHF 1oz 31,10g 1.258,754 1.257,777
CHF 2oz 62,20g 2.517,508 2.515,555
CHF 5oz 155,51g 6.293,770 6.288,887
CHF 10oz 311,04g 12.587,540 12.577,775
CHF 12oz 373,24g 15.105,048 15.093,330
CHF 20oz 622,07g 25.175,080 25.155,550
CHF 25oz 777,59g 31.468,850 31.444,437
CHF 1,0g 40,470 40,438
CHF 2,0g 80,940 80,877
CHF 5,0g 202,349 202,192
CHF 10,0g 404,699 404,385
CHF 20,0g 809,398 808,770
CHF 25,0g 1.011,747 1.010,962
CHF 50,0g 2.023,494 2.021,924
CHF 100,0g 4.046,988 4.043,849
CHF 200,0g 8.093,976 8.087,697
CHF 250,0g 10.117,470 10.109,621
CHF 500,0g 20.234,940 20.219,243
CHF 1kg 40.469,880 40.438,485
CHF 2kg 80.939,760 80.876,970
CHF 5kg 202.349,400 202.192,425
10/24/16 03:36:32
No responsibility is taken for the correctness of this information!
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