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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 276,024 275,961
EUR 1/2oz 15,55g 552,048 551,922
EUR 1oz 31,10g 1.104,097 1.103,845
EUR 2oz 62,20g 2.208,193 2.207,689
EUR 5oz 155,51g 5.520,484 5.519,224
EUR 10oz 311,04g 11.040,967 11.038,447
EUR 12oz 373,24g 13.249,161 13.246,137
EUR 20oz 622,07g 22.081,935 22.076,894
EUR 25oz 777,59g 27.602,419 27.596,118
EUR 1,0g 35,498 35,489
EUR 2,0g 70,995 70,979
EUR 5,0g 177,488 177,447
EUR 10,0g 354,975 354,894
EUR 20,0g 709,951 709,789
EUR 25,0g 887,438 887,236
EUR 50,0g 1.774,877 1.774,472
EUR 100,0g 3.549,754 3.548,943
EUR 200,0g 7.099,507 7.097,886
EUR 250,0g 8.874,384 8.872,358
EUR 500,0g 17.748,768 17.744,716
EUR 1kg 35.497,535 35.489,432
EUR 2kg 70.995,070 70.978,864
EUR 5kg 177.487,675 177.447,160
12/03/16 20:42:33
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 294,435 294,285
USD 1/2oz 15,55g 588,870 588,570
USD 1oz 31,10g 1.177,740 1.177,140
USD 2oz 62,20g 2.355,480 2.354,280
USD 5oz 155,51g 5.888,700 5.885,700
USD 10oz 311,04g 11.777,400 11.771,400
USD 12oz 373,24g 14.132,880 14.125,680
USD 20oz 622,07g 23.554,800 23.542,800
USD 25oz 777,59g 29.443,500 29.428,500
USD 1,0g 37,865 37,846
USD 2,0g 75,730 75,692
USD 5,0g 189,326 189,230
USD 10,0g 378,652 378,459
USD 20,0g 757,304 756,919
USD 25,0g 946,631 946,148
USD 50,0g 1.893,261 1.892,297
USD 100,0g 3.786,522 3.784,593
USD 200,0g 7.573,044 7.569,186
USD 250,0g 9.466,305 9.461,483
USD 500,0g 18.932,610 18.922,965
USD 1kg 37.865,220 37.845,930
USD 2kg 75.730,440 75.691,860
USD 5kg 189.326,100 189.229,650
12/03/16 20:42:33
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 231,329 231,265
GBP 1/2oz 15,55g 462,657 462,530
GBP 1oz 31,10g 925,314 925,061
GBP 2oz 62,20g 1.850,629 1.850,122
GBP 5oz 155,51g 4.626,571 4.625,305
GBP 10oz 311,04g 9.253,143 9.250,609
GBP 12oz 373,24g 11.103,771 11.100,731
GBP 20oz 622,07g 18.506,285 18.501,218
GBP 25oz 777,59g 23.132,857 23.126,523
GBP 1,0g 29,750 29,741
GBP 2,0g 59,499 59,483
GBP 5,0g 148,748 148,707
GBP 10,0g 297,495 297,414
GBP 20,0g 594,991 594,828
GBP 25,0g 743,739 743,535
GBP 50,0g 1.487,477 1.487,070
GBP 100,0g 2.974,955 2.974,140
GBP 200,0g 5.949,909 5.948,280
GBP 250,0g 7.437,386 7.435,350
GBP 500,0g 14.874,773 14.870,700
GBP 1kg 29.749,545 29.741,399
GBP 2kg 59.499,090 59.482,798
GBP 5kg 148.747,725 148.706,995
12/03/16 20:42:33
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 297,468 297,228
CHF 1/2oz 15,55g 594,935 594,456
CHF 1oz 31,10g 1.189,871 1.188,911
CHF 2oz 62,20g 2.379,741 2.377,823
CHF 5oz 155,51g 5.949,354 5.944,557
CHF 10oz 311,04g 11.898,707 11.889,114
CHF 12oz 373,24g 14.278,449 14.266,937
CHF 20oz 622,07g 23.797,414 23.778,228
CHF 25oz 777,59g 29.746,768 29.722,785
CHF 1,0g 38,255 38,224
CHF 2,0g 76,510 76,449
CHF 5,0g 191,276 191,122
CHF 10,0g 382,552 382,244
CHF 20,0g 765,105 764,488
CHF 25,0g 956,381 955,610
CHF 50,0g 1.912,762 1.911,219
CHF 100,0g 3.825,523 3.822,439
CHF 200,0g 7.651,046 7.644,878
CHF 250,0g 9.563,808 9.556,097
CHF 500,0g 19.127,616 19.112,195
CHF 1kg 38.255,232 38.224,389
CHF 2kg 76.510,464 76.448,778
CHF 5kg 191.276,160 191.121,945
12/03/16 20:42:33
No responsibility is taken for the correctness of this information!
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