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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 290,553 290,495
EUR 1/2oz 15,55g 581,105 580,990
EUR 1oz 31,10g 1.162,211 1.161,980
EUR 2oz 62,20g 2.324,422 2.323,960
EUR 5oz 155,51g 5.811,054 5.809,900
EUR 10oz 311,04g 11.622,108 11.619,800
EUR 12oz 373,24g 13.946,530 13.943,760
EUR 20oz 622,07g 23.244,216 23.239,600
EUR 25oz 777,59g 29.055,270 29.049,500
EUR 1,0g 37,366 37,359
EUR 2,0g 74,732 74,717
EUR 5,0g 186,830 186,793
EUR 10,0g 373,659 373,585
EUR 20,0g 747,319 747,170
EUR 25,0g 934,149 933,963
EUR 50,0g 1.868,297 1.867,926
EUR 100,0g 3.736,595 3.735,852
EUR 200,0g 7.473,189 7.471,705
EUR 250,0g 9.341,486 9.339,631
EUR 500,0g 18.682,973 18.679,262
EUR 1kg 37.365,945 37.358,524
EUR 2kg 74.731,890 74.717,048
EUR 5kg 186.829,725 186.792,620
10/24/16 10:46:33
No responsibility is taken for the correctness of this information!
Actual Gold Price in US-Dollar Ask Bid
USD 1/4oz 7,78g 316,470 316,320
USD 1/2oz 15,55g 632,940 632,640
USD 1oz 31,10g 1.265,880 1.265,280
USD 2oz 62,20g 2.531,760 2.530,560
USD 5oz 155,51g 6.329,400 6.326,400
USD 10oz 311,04g 12.658,800 12.652,800
USD 12oz 373,24g 15.190,560 15.183,360
USD 20oz 622,07g 25.317,600 25.305,600
USD 25oz 777,59g 31.647,000 31.632,000
USD 1,0g 40,699 40,680
USD 2,0g 81,398 81,359
USD 5,0g 203,495 203,398
USD 10,0g 406,990 406,797
USD 20,0g 813,980 813,594
USD 25,0g 1.017,475 1.016,992
USD 50,0g 2.034,949 2.033,985
USD 100,0g 4.069,899 4.067,970
USD 200,0g 8.139,797 8.135,939
USD 250,0g 10.174,747 10.169,924
USD 500,0g 20.349,494 20.339,849
USD 1kg 40.698,987 40.679,697
USD 2kg 81.397,974 81.359,394
USD 5kg 203.494,935 203.398,485
10/24/16 10:46:33
No responsibility is taken for the correctness of this information!
Actual Gold Price in British Pound Ask Bid
GBP 1/4oz 7,78g 258,617 258,558
GBP 1/2oz 15,55g 517,235 517,116
GBP 1oz 31,10g 1.034,469 1.034,232
GBP 2oz 62,20g 2.068,938 2.068,465
GBP 5oz 155,51g 5.172,346 5.171,162
GBP 10oz 311,04g 10.344,692 10.342,325
GBP 12oz 373,24g 12.413,631 12.410,790
GBP 20oz 622,07g 20.689,385 20.684,649
GBP 25oz 777,59g 25.861,731 25.855,812
GBP 1,0g 33,259 33,251
GBP 2,0g 66,518 66,503
GBP 5,0g 166,295 166,257
GBP 10,0g 332,590 332,513
GBP 20,0g 665,179 665,027
GBP 25,0g 831,474 831,284
GBP 50,0g 1.662,948 1.662,567
GBP 100,0g 3.325,896 3.325,135
GBP 200,0g 6.651,792 6.650,269
GBP 250,0g 8.314,740 8.312,837
GBP 500,0g 16.629,479 16.625,673
GBP 1kg 33.258,958 33.251,346
GBP 2kg 66.517,916 66.502,692
GBP 5kg 166.294,790 166.256,730
10/24/16 10:46:33
No responsibility is taken for the correctness of this information!
Actual Gold Price in Swiss Franc Ask Bid
CHF 1/4oz 7,78g 314,666 314,422
CHF 1/2oz 15,55g 629,332 628,844
CHF 1oz 31,10g 1.258,664 1.257,688
CHF 2oz 62,20g 2.517,329 2.515,377
CHF 5oz 155,51g 6.293,322 6.288,442
CHF 10oz 311,04g 12.586,645 12.576,883
CHF 12oz 373,24g 15.103,974 15.092,260
CHF 20oz 622,07g 25.173,290 25.153,766
CHF 25oz 777,59g 31.466,612 31.442,208
CHF 1,0g 40,467 40,436
CHF 2,0g 80,934 80,871
CHF 5,0g 202,335 202,178
CHF 10,0g 404,670 404,356
CHF 20,0g 809,340 808,712
CHF 25,0g 1.011,675 1.010,890
CHF 50,0g 2.023,350 2.021,781
CHF 100,0g 4.046,700 4.043,562
CHF 200,0g 8.093,401 8.087,124
CHF 250,0g 10.116,751 10.108,905
CHF 500,0g 20.233,502 20.217,809
CHF 1kg 40.467,003 40.435,618
CHF 2kg 80.934,006 80.871,236
CHF 5kg 202.335,015 202.178,090
10/24/16 10:46:33
No responsibility is taken for the correctness of this information!
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