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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 295,133 295,075
EUR 1/2oz 15,55g 590,267 590,150
EUR 1oz 31,10g 1.180,533 1.180,301
EUR 2oz 62,20g 2.361,066 2.360,601
EUR 5oz 155,51g 5.902,666 5.901,504
EUR 10oz 311,04g 11.805,332 11.803,007
EUR 12oz 373,24g 14.166,399 14.163,609
EUR 20oz 622,07g 23.610,665 23.606,015
EUR 25oz 777,59g 29.513,331 29.507,518
EUR 1,0g 37,955 37,948
EUR 2,0g 75,910 75,895
EUR 5,0g 189,775 189,738
EUR 10,0g 379,550 379,476
EUR 20,0g 759,101 758,951
EUR 25,0g 948,876 948,689
EUR 50,0g 1.897,751 1.897,378
EUR 100,0g 3.795,503 3.794,755
EUR 200,0g 7.591,005 7.589,510
EUR 250,0g 9.488,756 9.486,888
EUR 500,0g 18.977,513 18.973,775
EUR 1kg 37.955,025 37.947,550
EUR 2kg 75.910,050 75.895,100
EUR 5kg 189.775,125 189.737,750
02/24/2017 02:25:03
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 312,163 312,013
USD 1/2oz 15,55g 624,325 624,025
USD 1oz 31,10g 1.248,650 1.248,050
USD 2oz 62,20g 2.497,300 2.496,100
USD 5oz 155,51g 6.243,250 6.240,250
USD 10oz 311,04g 12.486,500 12.480,500
USD 12oz 373,24g 14.983,800 14.976,600
USD 20oz 622,07g 24.973,000 24.961,000
USD 25oz 777,59g 31.216,250 31.201,250
USD 1,0g 40,145 40,126
USD 2,0g 80,290 80,251
USD 5,0g 200,725 200,629
USD 10,0g 401,450 401,257
USD 20,0g 802,901 802,515
USD 25,0g 1.003,626 1.003,143
USD 50,0g 2.007,251 2.006,287
USD 100,0g 4.014,503 4.012,574
USD 200,0g 8.029,006 8.025,148
USD 250,0g 10.036,257 10.031,435
USD 500,0g 20.072,515 20.062,870
USD 1kg 40.145,029 40.125,739
USD 2kg 80.290,058 80.251,478
USD 5kg 200.725,145 200.628,695
02/24/2017 02:25:03
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 248,854 248,794
GBP 1/2oz 15,55g 497,708 497,588
GBP 1oz 31,10g 995,416 995,176
GBP 2oz 62,20g 1.990,832 1.990,352
GBP 5oz 155,51g 4.977,081 4.975,879
GBP 10oz 311,04g 9.954,161 9.951,758
GBP 12oz 373,24g 11.944,994 11.942,110
GBP 20oz 622,07g 19.908,323 19.903,516
GBP 25oz 777,59g 24.885,403 24.879,396
GBP 1,0g 32,003 31,996
GBP 2,0g 64,007 63,991
GBP 5,0g 160,017 159,978
GBP 10,0g 320,034 319,956
GBP 20,0g 640,067 639,913
GBP 25,0g 800,084 799,891
GBP 50,0g 1.600,169 1.599,782
GBP 100,0g 3.200,337 3.199,565
GBP 200,0g 6.400,674 6.399,129
GBP 250,0g 8.000,843 7.998,911
GBP 500,0g 16.001,686 15.997,823
GBP 1kg 32.003,372 31.995,645
GBP 2kg 64.006,744 63.991,290
GBP 5kg 160.016,860 159.978,225
02/24/2017 02:25:03
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 314,473 314,228
CHF 1/2oz 15,55g 628,945 628,456
CHF 1oz 31,10g 1.257,890 1.256,911
CHF 2oz 62,20g 2.515,780 2.513,822
CHF 5oz 155,51g 6.289,450 6.284,556
CHF 10oz 311,04g 12.578,900 12.569,112
CHF 12oz 373,24g 15.094,680 15.082,934
CHF 20oz 622,07g 25.157,800 25.138,223
CHF 25oz 777,59g 31.447,250 31.422,779
CHF 1,0g 40,442 40,411
CHF 2,0g 80,884 80,821
CHF 5,0g 202,211 202,053
CHF 10,0g 404,421 404,106
CHF 20,0g 808,842 808,213
CHF 25,0g 1.011,053 1.010,266
CHF 50,0g 2.022,105 2.020,532
CHF 100,0g 4.044,210 4.041,063
CHF 200,0g 8.088,421 8.082,126
CHF 250,0g 10.110,526 10.102,658
CHF 500,0g 20.221,052 20.205,316
CHF 1kg 40.442,103 40.410,632
CHF 2kg 80.884,206 80.821,264
CHF 5kg 202.210,515 202.053,160
02/24/2017 02:25:03
No responsibility is taken for the correctness of this information!
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