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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 272,174 272,111
EUR 1/2oz 15,55g 544,349 544,222
EUR 1oz 31,10g 1.088,698 1.088,444
EUR 2oz 62,20g 2.177,395 2.176,889
EUR 5oz 155,51g 5.443,488 5.442,222
EUR 10oz 311,04g 10.886,976 10.884,444
EUR 12oz 373,24g 13.064,371 13.061,333
EUR 20oz 622,07g 21.773,952 21.768,889
EUR 25oz 777,59g 27.217,440 27.211,111
EUR 1,0g 35,002 34,994
EUR 2,0g 70,005 69,989
EUR 5,0g 175,012 174,972
EUR 10,0g 350,024 349,943
EUR 20,0g 700,049 699,886
EUR 25,0g 875,061 874,858
EUR 50,0g 1.750,122 1.749,715
EUR 100,0g 3.500,244 3.499,430
EUR 200,0g 7.000,488 6.998,860
EUR 250,0g 8.750,610 8.748,575
EUR 500,0g 17.501,220 17.497,151
EUR 1kg 35.002,440 34.994,301
EUR 2kg 70.004,880 69.988,602
EUR 5kg 175.012,200 174.971,505
12/08/16 10:49:34
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 294,030 293,880
USD 1/2oz 15,55g 588,060 587,760
USD 1oz 31,10g 1.176,120 1.175,520
USD 2oz 62,20g 2.352,240 2.351,040
USD 5oz 155,51g 5.880,600 5.877,600
USD 10oz 311,04g 11.761,200 11.755,200
USD 12oz 373,24g 14.113,440 14.106,240
USD 20oz 622,07g 23.522,400 23.510,400
USD 25oz 777,59g 29.403,000 29.388,000
USD 1,0g 37,813 37,794
USD 2,0g 75,626 75,588
USD 5,0g 189,066 188,969
USD 10,0g 378,131 377,938
USD 20,0g 756,263 755,877
USD 25,0g 945,328 944,846
USD 50,0g 1.890,657 1.889,692
USD 100,0g 3.781,314 3.779,385
USD 200,0g 7.562,627 7.558,769
USD 250,0g 9.453,284 9.448,462
USD 500,0g 18.906,568 18.896,923
USD 1kg 37.813,136 37.793,846
USD 2kg 75.626,272 75.587,692
USD 5kg 189.065,680 188.969,230
12/08/16 10:49:34
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 231,757 231,693
GBP 1/2oz 15,55g 463,514 463,387
GBP 1oz 31,10g 927,028 926,774
GBP 2oz 62,20g 1.854,055 1.853,548
GBP 5oz 155,51g 4.635,138 4.633,869
GBP 10oz 311,04g 9.270,277 9.267,739
GBP 12oz 373,24g 11.124,332 11.121,287
GBP 20oz 622,07g 18.540,553 18.535,478
GBP 25oz 777,59g 23.175,692 23.169,347
GBP 1,0g 29,805 29,796
GBP 2,0g 59,609 59,593
GBP 5,0g 149,023 148,982
GBP 10,0g 298,046 297,965
GBP 20,0g 596,093 595,929
GBP 25,0g 745,116 744,912
GBP 50,0g 1.490,232 1.489,824
GBP 100,0g 2.980,463 2.979,647
GBP 200,0g 5.960,926 5.959,294
GBP 250,0g 7.451,158 7.449,118
GBP 500,0g 14.902,316 14.898,236
GBP 1kg 29.804,632 29.796,472
GBP 2kg 59.609,264 59.592,944
GBP 5kg 149.023,160 148.982,360
12/08/16 10:49:34
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 295,500 295,261
CHF 1/2oz 15,55g 591,000 590,522
CHF 1oz 31,10g 1.182,001 1.181,045
CHF 2oz 62,20g 2.364,001 2.362,090
CHF 5oz 155,51g 5.910,003 5.905,225
CHF 10oz 311,04g 11.820,006 11.810,449
CHF 12oz 373,24g 14.184,007 14.172,539
CHF 20oz 622,07g 23.640,012 23.620,899
CHF 25oz 777,59g 29.550,015 29.526,124
CHF 1,0g 38,002 37,971
CHF 2,0g 76,004 75,943
CHF 5,0g 190,011 189,857
CHF 10,0g 380,022 379,715
CHF 20,0g 760,044 759,430
CHF 25,0g 950,055 949,287
CHF 50,0g 1.900,110 1.898,574
CHF 100,0g 3.800,220 3.797,148
CHF 200,0g 7.600,440 7.594,295
CHF 250,0g 9.500,551 9.492,869
CHF 500,0g 19.001,101 18.985,739
CHF 1kg 38.002,202 37.971,477
CHF 2kg 76.004,404 75.942,954
CHF 5kg 190.011,010 189.857,385
12/08/16 10:49:34
No responsibility is taken for the correctness of this information!
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