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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 283,523 283,462
EUR 1/2oz 15,55g 567,046 566,924
EUR 1oz 31,10g 1.134,091 1.133,848
EUR 2oz 62,20g 2.268,183 2.267,696
EUR 5oz 155,51g 5.670,457 5.669,241
EUR 10oz 311,04g 11.340,913 11.338,482
EUR 12oz 373,24g 13.609,096 13.606,178
EUR 20oz 622,07g 22.681,827 22.676,963
EUR 25oz 777,59g 28.352,283 28.346,204
EUR 1,0g 36,462 36,454
EUR 2,0g 72,924 72,908
EUR 5,0g 182,309 182,270
EUR 10,0g 364,619 364,541
EUR 20,0g 729,238 729,081
EUR 25,0g 911,547 911,352
EUR 50,0g 1.823,094 1.822,703
EUR 100,0g 3.646,188 3.645,407
EUR 200,0g 7.292,377 7.290,813
EUR 250,0g 9.115,471 9.113,516
EUR 500,0g 18.230,942 18.227,033
EUR 1kg 36.461,883 36.454,065
EUR 2kg 72.923,766 72.908,130
EUR 5kg 182.309,415 182.270,325
01/18/2017 09:07:19
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 302,973 302,823
USD 1/2oz 15,55g 605,945 605,645
USD 1oz 31,10g 1.211,890 1.211,290
USD 2oz 62,20g 2.423,780 2.422,580
USD 5oz 155,51g 6.059,450 6.056,450
USD 10oz 311,04g 12.118,900 12.112,900
USD 12oz 373,24g 14.542,680 14.535,480
USD 20oz 622,07g 24.237,800 24.225,800
USD 25oz 777,59g 30.297,250 30.282,250
USD 1,0g 38,963 38,944
USD 2,0g 77,926 77,888
USD 5,0g 194,816 194,719
USD 10,0g 389,632 389,439
USD 20,0g 779,263 778,878
USD 25,0g 974,079 973,597
USD 50,0g 1.948,158 1.947,194
USD 100,0g 3.896,317 3.894,388
USD 200,0g 7.792,634 7.788,776
USD 250,0g 9.740,792 9.735,970
USD 500,0g 19.481,584 19.471,939
USD 1kg 38.963,168 38.943,878
USD 2kg 77.926,336 77.887,756
USD 5kg 194.815,840 194.719,390
01/18/2017 09:07:19
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 245,680 245,618
GBP 1/2oz 15,55g 491,360 491,236
GBP 1oz 31,10g 982,720 982,472
GBP 2oz 62,20g 1.965,440 1.964,944
GBP 5oz 155,51g 4.913,599 4.912,361
GBP 10oz 311,04g 9.827,198 9.824,722
GBP 12oz 373,24g 11.792,637 11.789,667
GBP 20oz 622,07g 19.654,395 19.649,444
GBP 25oz 777,59g 24.567,994 24.561,806
GBP 1,0g 31,595 31,587
GBP 2,0g 63,190 63,174
GBP 5,0g 157,976 157,936
GBP 10,0g 315,952 315,872
GBP 20,0g 631,903 631,744
GBP 25,0g 789,879 789,680
GBP 50,0g 1.579,759 1.579,361
GBP 100,0g 3.159,517 3.158,722
GBP 200,0g 6.319,035 6.317,443
GBP 250,0g 7.898,794 7.896,804
GBP 500,0g 15.797,587 15.793,608
GBP 1kg 31.595,174 31.587,215
GBP 2kg 63.190,348 63.174,430
GBP 5kg 157.975,870 157.936,075
01/18/2017 09:07:19
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 304,215 303,973
CHF 1/2oz 15,55g 608,429 607,946
CHF 1oz 31,10g 1.216,859 1.215,893
CHF 2oz 62,20g 2.433,717 2.431,786
CHF 5oz 155,51g 6.084,294 6.079,465
CHF 10oz 311,04g 12.168,587 12.158,929
CHF 12oz 373,24g 14.602,305 14.590,715
CHF 20oz 622,07g 24.337,175 24.317,858
CHF 25oz 777,59g 30.421,469 30.397,323
CHF 1,0g 39,123 39,092
CHF 2,0g 78,246 78,184
CHF 5,0g 195,615 195,459
CHF 10,0g 391,229 390,919
CHF 20,0g 782,458 781,837
CHF 25,0g 978,073 977,297
CHF 50,0g 1.956,146 1.954,593
CHF 100,0g 3.912,292 3.909,186
CHF 200,0g 7.824,583 7.818,373
CHF 250,0g 9.780,729 9.772,966
CHF 500,0g 19.561,459 19.545,932
CHF 1kg 39.122,917 39.091,864
CHF 2kg 78.245,834 78.183,728
CHF 5kg 195.614,585 195.459,320
01/18/2017 09:07:19
No responsibility is taken for the correctness of this information!
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