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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 292,766 292,709
EUR 1/2oz 15,55g 585,533 585,418
EUR 1oz 31,10g 1.171,066 1.170,837
EUR 2oz 62,20g 2.342,131 2.341,674
EUR 5oz 155,51g 5.855,329 5.854,184
EUR 10oz 311,04g 11.710,657 11.708,368
EUR 12oz 373,24g 14.052,789 14.050,041
EUR 20oz 622,07g 23.421,314 23.416,736
EUR 25oz 777,59g 29.276,643 29.270,920
EUR 1,0g 37,651 37,643
EUR 2,0g 75,301 75,287
EUR 5,0g 188,253 188,216
EUR 10,0g 376,506 376,433
EUR 20,0g 753,013 752,866
EUR 25,0g 941,266 941,082
EUR 50,0g 1.882,532 1.882,164
EUR 100,0g 3.765,064 3.764,328
EUR 200,0g 7.530,127 7.528,655
EUR 250,0g 9.412,659 9.410,819
EUR 500,0g 18.825,319 18.821,639
EUR 1kg 37.650,637 37.643,277
EUR 2kg 75.301,274 75.286,554
EUR 5kg 188.253,185 188.216,385
04/24/2017 17:05:52
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 318,120 317,970
USD 1/2oz 15,55g 636,240 635,940
USD 1oz 31,10g 1.272,480 1.271,880
USD 2oz 62,20g 2.544,960 2.543,760
USD 5oz 155,51g 6.362,400 6.359,400
USD 10oz 311,04g 12.724,800 12.718,800
USD 12oz 373,24g 15.269,760 15.262,560
USD 20oz 622,07g 25.449,600 25.437,600
USD 25oz 777,59g 31.812,000 31.797,000
USD 1,0g 40,911 40,892
USD 2,0g 81,822 81,784
USD 5,0g 204,556 204,459
USD 10,0g 409,112 408,919
USD 20,0g 818,224 817,838
USD 25,0g 1.022,780 1.022,297
USD 50,0g 2.045,559 2.044,595
USD 100,0g 4.091,118 4.089,189
USD 200,0g 8.182,236 8.178,378
USD 250,0g 10.227,796 10.222,973
USD 500,0g 20.455,591 20.445,946
USD 1kg 40.911,182 40.891,891
USD 2kg 81.822,364 81.783,782
USD 5kg 204.555,910 204.459,455
04/24/2017 17:05:52
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 248,998 248,939
GBP 1/2oz 15,55g 497,996 497,878
GBP 1oz 31,10g 995,992 995,757
GBP 2oz 62,20g 1.991,985 1.991,513
GBP 5oz 155,51g 4.979,962 4.978,783
GBP 10oz 311,04g 9.959,925 9.957,567
GBP 12oz 373,24g 11.951,910 11.949,080
GBP 20oz 622,07g 19.919,850 19.915,133
GBP 25oz 777,59g 24.899,812 24.893,917
GBP 1,0g 32,022 32,014
GBP 2,0g 64,044 64,029
GBP 5,0g 160,110 160,072
GBP 10,0g 320,219 320,143
GBP 20,0g 640,438 640,286
GBP 25,0g 800,548 800,358
GBP 50,0g 1.601,095 1.600,716
GBP 100,0g 3.202,190 3.201,432
GBP 200,0g 6.404,380 6.402,864
GBP 250,0g 8.005,476 8.003,580
GBP 500,0g 16.010,951 16.007,160
GBP 1kg 32.021,902 32.014,320
GBP 2kg 64.043,804 64.028,640
GBP 5kg 160.109,510 160.071,600
04/24/2017 17:05:52
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 316,816 316,571
CHF 1/2oz 15,55g 633,631 633,142
CHF 1oz 31,10g 1.267,263 1.266,284
CHF 2oz 62,20g 2.534,526 2.532,567
CHF 5oz 155,51g 6.336,314 6.331,419
CHF 10oz 311,04g 12.672,628 12.662,837
CHF 12oz 373,24g 15.207,154 15.195,405
CHF 20oz 622,07g 25.345,257 25.325,675
CHF 25oz 777,59g 31.681,571 31.657,093
CHF 1,0g 40,743 40,712
CHF 2,0g 81,487 81,424
CHF 5,0g 203,717 203,560
CHF 10,0g 407,434 407,120
CHF 20,0g 814,869 814,239
CHF 25,0g 1.018,586 1.017,799
CHF 50,0g 2.037,172 2.035,598
CHF 100,0g 4.074,345 4.071,197
CHF 200,0g 8.148,689 8.142,393
CHF 250,0g 10.185,862 10.177,992
CHF 500,0g 20.371,723 20.355,984
CHF 1kg 40.743,446 40.711,967
CHF 2kg 81.486,892 81.423,934
CHF 5kg 203.717,230 203.559,835
04/24/2017 17:05:52
No responsibility is taken for the correctness of this information!
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