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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 274,635 274,571
EUR 1/2oz 15,55g 549,271 549,143
EUR 1oz 31,10g 1.098,542 1.098,286
EUR 2oz 62,20g 2.197,084 2.196,571
EUR 5oz 155,51g 5.492,709 5.491,428
EUR 10oz 311,04g 10.985,418 10.982,857
EUR 12oz 373,24g 13.182,502 13.179,428
EUR 20oz 622,07g 21.970,836 21.965,713
EUR 25oz 777,59g 27.463,545 27.457,142
EUR 1,0g 35,319 35,311
EUR 2,0g 70,638 70,621
EUR 5,0g 176,595 176,554
EUR 10,0g 353,189 353,107
EUR 20,0g 706,379 706,214
EUR 25,0g 882,973 882,768
EUR 50,0g 1.765,947 1.765,535
EUR 100,0g 3.531,894 3.531,070
EUR 200,0g 7.063,788 7.062,141
EUR 250,0g 8.829,735 8.827,676
EUR 500,0g 17.659,470 17.655,352
EUR 1kg 35.318,939 35.310,704
EUR 2kg 70.637,878 70.621,408
EUR 5kg 176.594,695 176.553,520
12/10/16 00:11:33
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 290,043 289,893
USD 1/2oz 15,55g 580,085 579,785
USD 1oz 31,10g 1.160,170 1.159,570
USD 2oz 62,20g 2.320,340 2.319,140
USD 5oz 155,51g 5.800,850 5.797,850
USD 10oz 311,04g 11.601,700 11.595,700
USD 12oz 373,24g 13.922,040 13.914,840
USD 20oz 622,07g 23.203,400 23.191,400
USD 25oz 777,59g 29.004,250 28.989,250
USD 1,0g 37,300 37,281
USD 2,0g 74,601 74,562
USD 5,0g 186,502 186,405
USD 10,0g 373,003 372,810
USD 20,0g 746,007 745,621
USD 25,0g 932,508 932,026
USD 50,0g 1.865,017 1.864,052
USD 100,0g 3.730,033 3.728,104
USD 200,0g 7.460,066 7.456,208
USD 250,0g 9.325,083 9.320,260
USD 500,0g 18.650,166 18.640,521
USD 1kg 37.300,332 37.281,041
USD 2kg 74.600,664 74.562,082
USD 5kg 186.501,660 186.405,205
12/10/16 00:11:33
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 230,540 230,476
GBP 1/2oz 15,55g 461,080 460,952
GBP 1oz 31,10g 922,160 921,903
GBP 2oz 62,20g 1.844,321 1.843,807
GBP 5oz 155,51g 4.610,802 4.609,517
GBP 10oz 311,04g 9.221,604 9.219,033
GBP 12oz 373,24g 11.065,925 11.062,840
GBP 20oz 622,07g 18.443,208 18.438,066
GBP 25oz 777,59g 23.054,010 23.047,583
GBP 1,0g 29,648 29,640
GBP 2,0g 59,296 59,280
GBP 5,0g 148,241 148,199
GBP 10,0g 296,481 296,399
GBP 20,0g 592,963 592,798
GBP 25,0g 741,204 740,997
GBP 50,0g 1.482,407 1.481,994
GBP 100,0g 2.964,815 2.963,988
GBP 200,0g 5.929,629 5.927,976
GBP 250,0g 7.412,036 7.409,970
GBP 500,0g 14.824,073 14.819,940
GBP 1kg 29.648,145 29.639,880
GBP 2kg 59.296,290 59.279,760
GBP 5kg 148.240,725 148.199,400
12/10/16 00:11:33
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 295,002 294,763
CHF 1/2oz 15,55g 590,004 589,525
CHF 1oz 31,10g 1.180,009 1.179,051
CHF 2oz 62,20g 2.360,018 2.358,102
CHF 5oz 155,51g 5.900,045 5.895,254
CHF 10oz 311,04g 11.800,089 11.790,508
CHF 12oz 373,24g 14.160,107 14.148,609
CHF 20oz 622,07g 23.600,178 23.581,016
CHF 25oz 777,59g 29.500,223 29.476,269
CHF 1,0g 37,938 37,907
CHF 2,0g 75,876 75,815
CHF 5,0g 189,691 189,537
CHF 10,0g 379,382 379,074
CHF 20,0g 758,763 758,147
CHF 25,0g 948,454 947,684
CHF 50,0g 1.896,908 1.895,368
CHF 100,0g 3.793,817 3.790,736
CHF 200,0g 7.587,633 7.581,473
CHF 250,0g 9.484,542 9.476,841
CHF 500,0g 18.969,084 18.953,682
CHF 1kg 37.938,167 37.907,363
CHF 2kg 75.876,334 75.814,726
CHF 5kg 189.690,835 189.536,815
12/10/16 00:11:33
No responsibility is taken for the correctness of this information!
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