How much is gold worth today

Current gold price

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The flood of daily reports on the financial markets and crises around the world also influence the development of precious metal prices and the gold price, among other things.

Invested investors, traders, investors and analysts have different expectations and ideas about how the gold price and thus the gold price will change Investment gold will evolve in the coming months or years.

Goldpreis.de provides courses, charts, prices as well as information and gold price forecasts from banks and investors, including a mood barometer, in order to find out about the current price development of precious metals. If you want to buy gold and silver physically, you will also find a selection of precious metal dealers and product information on bars and coins, as well as prices of the respective precious metal and gold products, in the portal.


Gold price expertise

Gold futuresA future is also called a futures contract and describes a trade at a certain point in time in the future. Are traded z. B. Securities or goods, including gold. One contract for gold is standardized at 100 oz. Trading in futures is also called paper trading. Due to the leverage effect, non-physical trading in futures is very risky.
OTC tradingOTC stands for "over the counter" = "sold over the counter". This is the name given to over-the-counter trading or direct trading. It describes financial transactions that are not carried out via the stock exchange, but rather directly between market participants.
Spot, gold spotThe current market price for gold or the gold price is referred to as the gold spot.
London Fixing, Gold Fixing, LBMAAt the London Bullion Market (the most important OTC trading place) a gold price is fixed twice a day by its members (banks). The gold fixings serve as a benchmark for many players in the precious metals market. The LBMA (London Bullion Market Association) coordinates trading and is responsible for the certification of gold bars ("london good delivery").
Real-time rateThe real-time price refers to the live gold price in real time.
XAUThe ISO 4217 code "XAU" is the international currency abbreviation for one troy ounce of gold (31.1034768 g). It is made up of an X and the chemical symbol "Au" for gold. The abbreviations are standardized by the International Organization for Standardization for clear identification in international payment transactions.
Troy ounceInternationally, the gold price is given per troy ounce. One troy ounce weighs around 31.103 g (exactly 31.1034768 g). In common parlance in precious metals trading, "ounce" and the abbreviation "oz" are also used, see also troy ounce of gold
Bid and Ask coursesEngl. Bid = to offer; Offer to buy, highest price someone is willing to buy.
Engl. Ask = to ask; lowest price offer at which one can buy.
Short / longLong is called the buyer position in the financial markets and states that you have bought a position and currently owns it. A certain seller position is called short in the financial markets: If someone is "short", it means that he has sold a position (share, gold ETF etc.) that he does not own (so-called short sale).
KitcoKitco is a Canadian company that provides the Live Kitco gold price and was also widespread in Germany when there were no comparable offers.
CommodityCommodities are raw materials or general goods. Exchange traded commodities are e.g. B. Exchange traded securities that investors can use to invest in commodities. The New York Commodities Exchange (COMEX) is a commodity futures exchange.
NYMEX, COMEX futures exchangeThe abbreviation NYMEX stands for New York Mercantile Exchange - the world's largest commodity futures exchange, where a.o. precious metals such as gold are also traded. Previously, gold was traded on the COMEX, which merged with NYMEX in 1994.
Arbitrage businessIn the economy, an arbitrage business is called the exploitation of differences in prices, exchange rates or interest rates with the aim of taking profit without risk.
Fat finger bugA fat finger error is a typing error or a number shift that leads to drastic price movements in transactions on the financial market, as has happened several times in the past with gold and silver prices.
SpikeA spike is a price change in a chart image (e.g. gold price) that has an extreme point upwards or downwards, which dissolves again shortly afterwards (spike = sting, nail).

The gold price in its historical development

Gold is a precious metal that has been used as an asset and store of value in various parts of the world for thousands of years. It is one of the first metals that humans could process. Gold can be processed quite easily and its permanent yellowish sheen (sun-like) and the positive property that it does not oxidize in contact with oxygen have made it the most popular jewelry metal for many millennia. Objects made of gold were often used, especially for religious or ritual purposes.

It was also widely used as a status symbol. This development can be observed in all parts of the world, even in cultures that developed completely independently of one another. In addition to being used for ritual purposes, gold was also used in monetary terms as a means of payment in many cultures. Gold coins could be exchanged for various items. It was only when paper money became established as a means of payment in the nineteenth century that gold lost its importance as a means of payment. It was only at this point in time that the price of gold became really important. Before gold itself was the means of payment and so no price could be assigned to it, the introduction of an alternative means of payment made it necessary to set a price at which the value of gold was traded with this new means of payment. Many currencies were initially based on trust in which gold reserves were held by the issuer. The paper money was just a substitute for the gold that was kept in a safe place. Many currencies still have gold reserves that stabilize them, but these are becoming less and less important.

It was only when currencies were no longer measured solely on the basis of the value of metal that it became important to know which gold price corresponds to a coin or a banknote. The first gold price was set in London in the 17th century and has been fixed there every day since then.


Which factors have an influence on the gold price and the current gold value

The gold price is determined by supply and demand as well as trading on the futures markets. Since it is a natural raw material that can only be extracted to a limited extent, increasing the supply is not easy to achieve. Especially since gold mining is a long-term project, the amount of gold cannot be increased in the short term. Therefore, the physical demand, in addition to the futures markets, is the determining factor for the gold price. Gold is used in particular to make jewelry. The shiny metal offers very good properties for making high-quality jewelry. Gold jewelry is a status symbol in many cultures or has a religious meaning.

The use of gold in electrical engineering also influences the gold price, albeit only marginally. Gold is an excellent electrical conductor and it is also quite easy to work with. For example, if an electrical conductor comes into contact with a strong acid, almost all metals will be damaged by the contact. Gold, on the other hand, is very resilient and can therefore also be used in such an environment. Another key point that determines the price of gold is investor demand. A large part of gold mining is also used as a financial investment or store of value and the more investors decide to invest their money in this precious metal or gold ounces, the higher the demand and the price. Economic and geopolitical developments also indirectly influence the gold price. The fluctuations that are triggered are easy to understand in the gold chart.

You can find these charts on Goldpreis.de in euros, dollars and at different time periods. The curves show the course of the gold price over individually adjustable periods of time. For example, at the time of the Great Depression in the first half of the twentieth century. After the outbreak of the crisis in 1929, the gold price initially fell for a short time and then almost doubled over the next few years. Declining economic growth can accordingly be clearly expressed in a falling gold price, as can be seen in the 2011 chart. With the economic power of China and India cooling down, the demand for gold from these countries also fell, which in turn led to a worldwide decrease in demand. Another factor for the gold price is the US dollar or the exchange rate to other currencies, since the precious metal is traded in USD.

The gold reserves of the central banks of various countries are also of great importance. Created to hedge the respective national currency, although there is no longer a gold standard, central banks sell or buy again and again on the international gold market. Since these are movements in the range of tons, such large transactions of buying or selling have an immediate effect on the gold price.


The gold price rises in times of crisis

If an economic crisis breaks out or geopolitical uncertainties arise, many investors fear negative consequences for the financial markets and the financial products in circulation. Investors and private investors like to use gold in such crises to secure money or their own savings in the event that a deeper crisis develops. The volatile gold demand at such times is mostly reflected in rising gold prices. Once the crises subside, the gold price usually also reacts with falling prices.

Gold is accepted as a valuable asset all over the world and can therefore maintain savings or their purchasing power even through a very deep crisis. Although a complete breakdown of a monetary system is nowadays considered less likely, gold, along with silver, has nevertheless retained its status as a crisis-proof means of payment.

The gold price, as well as the silver price, usually rise whenever instability occurs in the large, internationally interwoven financial systems. This fact has been felt for many years. Since the world economy passed from one crisis to the next at the turn of the millennium, the gold price has risen with fluctuations. Other factors driving the gold price are inflation and negative real interest rates. Since the introduction of the euro in 2002, the price of gold has risen by several hundred percent.