Under a gold standard, or in a market, citizens can exchange their paper currency for gold. The gold standard gold price equals the supply of currency in circulation divided by the total supply of a country’s gold bullion. The graph below illustrates the relationship between the gold standard gold price (black line) and the actual gold price (red line) since 1950.

Influence on gold price:
The day price of gold is driven by supply and demand. Because most of the gold ever mined still exists and is potentially able to come on to the market for the rightprice, unlike most other commodities, the hoarding and disposal plays a much bigger role in affecting the price. At the end of 2006, it was estimated that all the gold ever mined totaled 158,000 tons. Given the huge quantity of stored gold, compared to the annual production, the price of gold is mainly affected by changes in sentiment, rather than changes in annual production. In times of national crisis, people fear that their assets may be seized and that the currency may become worthless. They see gold as a solid asset, which will always buy food or transportation. Thus in times of great uncertainty,particularly when war is feared, the demand for gold rises.When dollars were ully convertible into gold, both were regarded as money.  However, most people preferred to carry around paper banknotes rather than the somewhat heavier and less divisible gold coins. If people feared their bank would fail, a bank run might have been the result. This is what happened in the USA during the Great Depression of the 1930s, leading President Roosevelt to impose a national emergency and to outlaw the ownership of gold by US citizens.

In 1950, the gold price was $34.72 and the gold standard gold price was $38.77. In 1971 gold price was allowed to float against the US dollar, it naturally increased. The reason for the increase was the gold price was adjusting for the 30 years of monetary inflation created by the Federal Reserve Bank.

Gold is the most popular precious metal in which people invest. It is a safe-haven agaainst any economic, political, social or currency-based crises, such as: investment market declines, currency failure, inflation, war and social unrest. Gold is unlike a bond. Gold pays no interest. But, Gold cannot become worthless like a bond can. The values of both rise and fall in free market trading.

Gold is also not a stock.Gold has no employees, no unions, pays no health insurance, has no overpaid CEO, no need to borrow money from a bank, and is recession-proof. Gold simply sits there in your vault quietly doing its job. You can see why for the average stock broker or financial advisor, Gold remains a total mystery.

Sadly for their clients, stock brokers seldom recommend investing in Gold or Silver. Despite the remarkable year-over-year gains they continue to ignore the gains being generated during the current bull market. Throughout history gold has often been used as money and, instead of quoting the gold price, all other commodities were measured in gold.

Stocks and Bonds prosper in strong economic times and bear higher risks in bad times. By contrast, Gold ignores recessions and does well when these and other traaditional investments fail.

From 1950 to October 1979 the gold price was adjusting for 30 years of monetary inflation. As the graph illustrates, the gold price equaled the gold standard gold price several times between 1979 and 1983.

In 1979, the gold price stayed within 10% of the gold standard gold price for 12 weeks, 11 of which the gold price stayed within 5% of the gold standard gold price.

In 1981 the gold price again stayed within 10% of the gold standard gold price for 31 weeks, 7 of which were with 5%, despite a decrease of 482,261.25 ounces of US owned gold since 1979.

In 1982, the gold price again stayed within 10% of the gold standard gold price for 2 weeks, including 1 week within 5%, despite a decrease of 96,452.25 ounces of US owned gold since 1981.

Finally in 1983, the gold price again stayed within 10% of the gold standard gold price for 8 weeks, including 6 weeks within 5%, despite a decrease of 643,015 ounces of US owned gold since 1982.

Over the course of 3.5 years, the gold price tracked the gold standard gold price in spite of a 30% increase in the currency and a decrease of 1,221,728.5 ounces of US owned gold. The gold price followed the gold standard gold price within 10% for 30% of the time, and within 5% for 15% of the time. This suggests that the metric used to value gold during this period was the currency divided by the ounces of US owned gold. Thus the market backed the US dollar with gold even though the US wasn’t on an official gold standard.

For the gold price to adjust for the past 26 years of monetary inflation, the price will equal $3,286.06 (dividing the currency $859.1 billion by 261,498,900.32 ounces of gold held by the US). Since the Federal Reserve Bank’s average yearly increase in the currency since 1929 is 8% (11.5% since 1971), the $3286.06 gold price will continue to increase an average of between 8% and 11.5% annually. If similar price increases were to occur today as in the 1980s, the gold price could peak as high as $7000, and could easily reach $5500.

The first fixing took place on September 12, 1919 amongst the five principal gold bullion traders and refiners of the day. The price of gold then was four pounds 18 shillings and ninepence per troy ounce. Due to government controls and war emergencies, the London Gold Fixing was suspended between 1939 and 1954. Prices of gold are fixed in United States dollars (USD), Pound sterling (GBP) and European Euros (EUR).

Historically, the Fixing took place twice daily at the City offices of N M Rothschild & Sons in St Swithin's Lane, but since May 5 2004 it takes place  by telephone. In April 2004, N M Rothschild & Sons announced that it planned to withdraw from gold trading and from the London Gold Fixing. Barclays Bank took its place from 7 June 2004, and the chairmanship of the meeting, formerly held permanently by Rothschilds, now rotates annually. On January 21 1980 the Gold Fixing reached the price of $850, a figure which was not overtaken until January 3 2008. This is when a new record of $865.35 per troy ounce was set in the morning Fixing. However, with inflation, the 1980 high would be equal to a price of $2398.21 in 2007 dollars. So, the 1980 record still holds in real terms.

The consequences of an increase in the gold price are frightening. A store of value is one of the hallmarks of gold. An ounce of gold retains its purchasing power over time. Because of this, prices measured in ounces of gold remain constant in the long run. Three examples are the gold/oil ratio, the gold/CRB ratio and the Dow/gold ratio. To calculate the gold/oil ratio (currently 13.76), divide the gold price ($1138.90) by the oil price ($82.75). Other ways to say the same thing would be to say that 1 ounce of gold will buy 13.76 barrels of oil or a barrel of oil costs 1/13.76 of an ounce of gold. The graph below illustrates the gold/oil ratio since 1946.

If the return on bonds, equities and real estate is not adequately compensating for risk and inflation then the demand for gold and other alternative investments such as commodities increases. An example of this is the period of Stagflation that occurred during the 1970s and which led to an economic bubble forming in precious metals.

The price of gold is quoted in USD per troy ounce.

Since May 2004 it has been conducted by telephone. The chairman begins with a 'trying' price. The five fixing members'representatives relay the price to their dealing rooms. And these are in contact with other dealers. The market members then declare how much gold they are prepared to buy or sell at that price. The dealers, who are in contact with their clients, may change their order or add to it or cancel it at any time; the position declared by the dealers is the net position outstanding among all their clients. (If one is buying two tonnes and another is selling one tonne, then he declares himself a buyer of one tonne.) If more gold is required than is offered, then the price will be adjusted upwards (and vice versa) until equilibrium is reached. At this point the gold price is fixed. On very rare occasions the price will be fixed when there is disequilibrium, at the discretion of the chairman of the fix.

A tradition of the London Gold Fixing was that participants could raise a small Union Flag on their desk to pause proceedings. Under the telephone fixing system, participants can register a pause by saying the word "flag", and the chair ends the meeting with the phrase "There are no flags, and we're fixed".

While gold is traded in markets throughout the world, the market is essentially homogenous since the gold price is always in dollars and the gold traded is "loco London" (gold deliverable in London and meeting London trading standards). The London PM fix is normally considered the main reference price for the day and is the price most often used in contracts.  

Maximum Profits Investing in Gold
In uncertain times, like we find outselves in today, precious metals will act more like a currency- preserving wealth and resisting deflation forces. There have always been unique periods in American history in which Gold and Silver suddenly act if they were the most scarce commodity on the planet!

Since May 2004 it has been conducted by telephone. The chairman begins with a'trying' price. The five fixing members' representatives relay the price to their dealing rooms. And these are in contact with other dealers. The market members then declare how much gold they are prepared to buy or sell at that price. The dealers, who are in contact with their clients, may change their order or add to it or cancel it at any time; the position declared by the dealers is the net position outstanding among all their clients. (If one is buying two tonnes and another is selling one tonne, then he declares himself a buyer of one tonne.) If more gold is required than is offered, then the price will be adjusted upwards (and vice versa) until equilibrium is reached. At this point the gold price is fixed. On very rare occasions the price will be fixed when there is disequilibrium, at the discretion of the chairman ofthe fix.

Throughout history gold has often been used as money and, instead of quoting the gold price, all other commodities were measured in gold. After World War II a gold standard was established following the 1946 Bretton Woods conference, fixing the gold priceat $35 per troy ounce.

At this point in our nation's history, investors face an uncertain future. Liberal spending this year has multiplied the budget deficits far beyond what we declared was "out-of-control Bush Republican spending."

During those decades, the investment demand for precious metals exceeds the supply, prices are bid up, and the profits can be dramatic. Let's take for example the last bull market for pecious metals in the 1970s. the price of Gold multiplied by 24 times while Silver multiplied over 30 times. With gains on that scale, Gold and Silver are hard to resist as pure profit plays.

Gold Survives & Prospers in Bad Times
In fact, in recent years, the price of Gold and Silver have more than quadrupled. Impressive indeed! Yet, those gains are far from the 24-30 times of the past leaving us with the opinion that there are still substantial gains still ahead in this bull market.

By contrast, Stocks, Bonds, and Real Estate all depend on the U.S. and World economy to be strong and growing. Right now, it's not. The U.S. is barely struggling out of a severe two year recession, the mortgage crisis still continues, the Government still owns huge chunks of the nation's banks, runs the entire mortgage industry, manages the world's largest insurer, and barely saved General Motors.

The Gold Fixing, or the London Gold Fixing or Gold Fix, is the procedure by which the price of gold is set on the London market by the five members of the London Gold Pool. It is designed to fix a price for settling contracts between members of the London bullion market, but, informally, the Gold Fixing provides a recognized rate that is used as a benchmark for pricing the majority of gold products throughout the world's markets.

The gold price fix takes place twice daily at 10.30am and 3pm, London time.

While gold is traded in markets throughout the world, the market is essentially homogenous since the gold price is always in dollars and the gold traded is "loco London" (gold deliverable in London and meeting London trading standards). The London PM fix is normally considered the main reference price for the day and is the price most often used in contracts.The price of gold is quoted in USD per troy ounce.

A tradition of the London Gold Fixing was that participants could raise a small Union Flag on their desk to pause proceedings. Under the telephone fixing system, participants can register a pause by saying the word "flag", and the chair ends the meeting with the phrase "There are no flags, and we're fixed".

http://www.goldcoinsgain.com/Gold-Prices-Gold-Price-Price-of-Gold-Gold-Spot-Current-Gold-Prices-Gold-Charts/

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Copyright (c) 2010 Seven Days Ahead

Market Update 14th January 2010

Gold sold off after making an all time high in December 2009, and earlier this week, it looked set for a fresh rally, but the market has slipped. What lies behind this price action?

The Technical Trader's view:

WEEKLY CHART

The underlying bullishness of the market is derived from the massive H&S reversal that suggests a minimum move up as far as 1313.

The first impediment was the Fib cluster at 1221-1232.

But the pull back found support exactly where you might expect - the first Prior High at 1072.60.

Look closer. DAILY CHART

The market bounced off that support from the Prior High, and when the resulting surge faltered, not well how the Prior High at 1114.50 was support again - ratcheting the market better.

There's no clear reversal in place yet, but the market appears supported for further bull trending in both the short and the medium-term.

The Macro Trader's view:

Gold is a market that has enjoyed a clear underlying Bullish trend since early 2004. Along the way there have been several corrections lower, some of them relatively steep, but the market has on each occasion shaken off its malaise and resumed its bull trend.

More recently, Gold has tested the lows after making an all time high in December 2009. And earlier this week, it looked set for a fresh rally, but the market has slipped, what lies behind this price action and should bulls be concerned of something more profound emerging?

The rally in Gold has been driven mainly, but not entirely, by the weakness of the Dollar. So it is no coincidence that Gold began its correction at the same time as the Dollar began its own recent correction after a stronger than expected US Non-Farm Payroll report at the beginning of December 2009.

However, the strength implied by that December payroll report hasn't uniformly followed through in subsequent data releases. Once again, this has led to questions being asked about the strength of the US recovery which has resulted in the Dollar giving back some of its gains.

But the recent strength of Gold wasn't just due to the Dollar's price action. As the New Year began traders became more concerned about the level of government debt in many of the developed economies, but especially in the US.

With the current US administration set on a path of almost never-ending debt accumulation, the credit rating of the US has been subjected to scrutiny as never before. The build up of debt, especially in the US, worries investors because they fear the US could be building up a problem it might struggle with in subsequent years. They think the financing of that debt could and probably will drive up long term yields, stifle recovery, hinder productivity and unleash inflation.

All of these fears are reasons to go long of Gold. But just as this market looked set to rally further, the gains were given back. Once again weaker US data was to blame, causing a deeper sense of angst about the recovery.

However, even if it is right to begin fretting about the strength of recovery (and we currently do not hold that view) the long-term outlook for Gold remains Bullish. If ,as we expect, the recovery gradually builds, traders will focus squarely on the budget deficit and debt, which will undermine the Dollar and support Gold.

If, on the other hand, the recovery falters or turns out to be much more anaemic than current expectations, then the outlook for the deficit and debt looks even worse as policy makers would be tempted to pump prime with yet another unaffordable fiscal stimulus.

In such a circumstance we believe the US would be in line for a sovereign debt down grade, the Chinese et al would voice their concerns about the Dollar's long term value even louder and Gold would make new highs.

Timing as ever is the key. For now we think this correction has a little further to play out. But don't be fooled into thinking this is a bear move: it isn't.

Mark Sturdy, John Lewis & Philip Allwright, write exclusively for Seven Days Ahead.com a regulated financial advisor selling professional-level technical and macro analysis and high-performing trade recommendations with detailed risk control for banks, hedge funds, and expert private investors around the world. Check out our products and subscriptions at http://www.sevendaysahead.com

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So, what are gold bullion coins? How much do they cost? And, where can you get them from?

A century ago, gold coins were used as standard currency in many countries, and were in general circulation. As an example, the USA used to use quarter eagles, half eagles, eagles and double eagles. These are now sought after by collectors, having last been issued in the 1930s. After a gap of thirty or forty years, countries began to issue gold coins again, but not for circulation, since gold had simply become too valuable.

When people talk about gold bullion coins, they mean the modern gold coins issued by governments in one ounce, or fractions of one ounce weights, which are not for general circulation, but for collecting or investment. They represent an accessible and relatively inexpensive way (when compared to the larger and heavier gold bullion bars) for 'normal' people to buy and own gold.

In the USA, gold bullion coins are called American Gold Eagles. In Canada, they are called Canadian Gold Maple Leafs. In South Africa, the coins are called Krugerrands. In China, they issue Gold Pandas. The names are derived from the designs they carry.

All the governments that issue these gold bullion coins use the same gold weighting scale, with them being available in the following values: one ounce, half an ounce, a quarter of an ounce, and a tenth of an ounce. The bullion coins can be either pure gold, or they may have a small percentage of silver or copper added to them to make more durable. Those which do have some other metal added to the gold are just as valuable as the pure gold ones though, as as they always have an 'actual gold weight' of one ounce of gold, or of one of the previously stated fractions.

The coins usually have the year of issue and the 'value' on them; for example, the one-ounce American Gold Eagle has a face value of $50. However, the value stated on them is not what they are actually worth, they are in fact worth much more than that. The actual value of a particular coin is dependent on the current value of gold on the general market, plus a 'premium', which is determined by the dealer or store that you buy it from.

So, where do you get these gold bullion coins? While you can still go to a dealer or a local coin store, the Internet has made a huge difference to the general availability of these coins, since you can view a huge selection of them anytime on online auction sites. In addition, many online-only coin stores exist which offer bullion coins of all types and weights at very fair prices.

To find out more about bullion gold coins, read about the types of coins available, and to check current prices, go to bullion-gold-coins.com and get the information you need to know before you buy.

By Mark Walters.

Article Source:http://www.articlesbase.com/finance-articles/buying-gold-bullion-coins-1424821.html

There is a huge demand for gold worldwide and gold prices are seeing a correction. Gold as an investment option is being considered by most stock experts and analysts. The recession has seen a slump in the stock markets, companies are under financial crises, banks have declared bankruptcy, so the investor is quite scared of his hard earned savings and is considering gold as a safe and sound investment. Gold acts as a good hedge against inflation, it can give you instant cash and even if the economy is bad you will still have reason to smile, as you will have gold which will not lose its shine quite fast.

When people invest, they either have a long term goal playing on in their mind or a short term period where they will get sufficient returns. You can use gold as a short term or a long term investment. Research and analysis suggests that gold has grown by at least 2% in the last 50 years and the present decade has seen the gold market grow at 4% annually. The gold market has seen fluctuations and in the year December 2005 itself it was sold at roughly $500 per ounce.

But at present gold is being traded at about $900 per ounce and that is definitely a great increase compared to the year 2005. if you have gold right now then you stand to gain if you sell off at this very moment and you can nearly double your cash. People are wondering if it is the right time to buy this yellow metal, but you never know. Gold prices could hit rock bottom and you may end up a loser. But it is surely the right time to sell off of you are holding gold stocks and options.

This precious yellow metal has never shone so bright. But it is certainly not a short term option, because gold has seen to fluctuate quite a bit and you may burn your hands in this process. Gold prices may climb up but that is not sure because the market is quite volatile. It is better to stay away from gold in this recession time. you can invest a little of your investments in gold to diversify your portfolio but it certainly is not a good option to put all your hard earned earnings into gold.

Please visit my site for more info and tips about this subject, thank you.

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Gold can be found around the world in small amounts in igneous rocks. It is part of what makes up the crust of the Earth - but in distinct sites the quantity is so small that you are not even able to see it. In many cases gold is chemically united with selenium, tellurium, or bismuth. Yet, it can be found in its natural state.

The majority of gold can be discovered with small quantities of silver in a particular alloy likewise known as electrum. It can likewise be found with lead and copper deposits though this is rare and only in small measures. You may be able to pull the gold from this by purifiying the base metals.

In order to acquire a significant measure of gold in large quantities you need to acquire the right type of rock that can hold it. There are two forms known as the hydrothermal veins and the placer deposits. The hydrothermal veins contains quartz and pyrite - known as fool’s gold. The placer deposits may be consolidated or unconsolidated and is made when rocks that contain gold have been weathered down.

In specific cases people are able to discover gold in seawater and it is thought that over 9 billion metric tons of it has not yet been discovered. Yet, it is too dangerous and pricey to find it because it is so deep.

Learn the different ways in which people Produce Gold Ingots and how they are used. Also learn the importance of Investing In Gold.

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Sometimes the buying and selling of gold bullion bars is claimed to be a difficult task. Reasons not to buy gold bullion include the cost to verify the purity of the gold bullion.

Gold bullion is the most liquid form of gold since it is assayed for purity upon its production. It is easier to buy gold bullion and it is also, in fact, easier to sell.

Read the following tips on how best to buy gold bullion gold.

1.) Always have a certificate of purity by one of many coin grading service available for rating gold coins. After assigning a grade, they will then put it in plastic and then guarantee you that it will retain its quality and authenticity. Without the protection of a plastic case, the more the coin is handled or even wiped the value of the coin decreases. When buying your gold bullion, always remember to get the written assay or certification of purity document. Keep the bullion coin in its original condition with a protective case and your coin will always retain its full value and resaleable condition.

2.) How to find a trusted and reputable gold bullion dealer you can trust? Look for a dealer recommended by a trade assocation or BBB.

3.) Have a long talk with your dealer. While you have this meeting you can get all your questions answered and find out more about this individual and their business. Take a look at the selection and notice the asay grades and prices for later shopping comparison. Be sure to satisfy yourself that all you worries and concerns are answered before you invest.

Many dealers are able to give discounts for bulk purchases and you need to ask before buying. If you are buying online, also ask about other special offers like free shipping.

You've heard the saying "if it sounds too good to be true it probably is?" Well, the statement is dead-on when it comes to trusting goldbuying companies that promise to give you the best value for your gold.

With gold prices at record-setting highs, there have been a proliferation of companies throughout the company telling consumers that now is the best time to cash in their gold. But how much do you know about these companies, and how can you be sure they will treat you right?

Tricks gold vendors use to cheat you out of your money include failing to show actual gold payout amounts on their sites so that they can then pay you whatever they like once you have already mailed in your gold, charging hidden fees such as shipping costs or gold appraisal fees, and not insuring your package, just to name a few.

A quick browse through the internet will show a host of gold buying vendors advertising "highest payout for gold," so which ones do you believe? The key is to essentially ignore these "highest payout" claims and look at the actual numbers themselves. If the site does not post their payout prominently, you know something is wrong. But even more than that, the posting should list the clear, actual payouts for each piece according to weight and gold content. In other words, a company may post a payout for a 14K ring, but fail to post the payout for an 18K ring, and then in the fine-print state that the payout will be less if the jewelry does not weight a certain amount. Most consumers will only discover this after they have already mailed in their gold, and then the goldbuyer can charge them a shipping fee if they want their jewelry returned!

Another trick buyers will use to cheat you out of your money is to tack on hidden fees either in shipping or processing your gold. The price of these should either be part of the gold transaction or should be clearly illustrated as an additional fee. This should not be something that is subtracted from your payout once you think that you know what amount you will be compensated for you gold items. Most reputable gold vendors will offer you free shipping, guarantee your package for more than its worth, and make sure that the final price you think you are getting you're your gold is the actual price that you get. That's the way business should be.

Regardless of whether you are being charged for insuring your gold package or not, you should make sure that the gold buying vendor is insuring your package as it is shipped. Otherwise you, as a gold seller have no protection for you pieces and no guarantee on what or where your items end up. More often than one could imagine companies take advantage of their customers and may claim to not receive packages or only receive partial packages; insurance takes care of this and gives you the peace of mind to enable you to follow through on your gold transaction.

Along these same lines, and to ensure your protection as you sell your gold pieces, the gold vendor should be able to guarantee the entire gold transaction. Should you not receive the price that you were guaranteed or thought that you were receiving for the sale of your gold you should be able to return and or cancel the payout in exchange for all of your gold pieces. This means that you are fully protected throughout the entire process.

Finding out what a gold vendor is offering and making sure that they are taking care of you as a gold seller should be very easy to determine. Payouts, company policies, guarantees, and insurances should be prominently posted on their website along with step-by-step instructions on how to sell gold. You should also be able to talk with a live representative if you have any questions on the process. If the company you are thinking of dealing with has any of these key elements missing, move on! There are simply too many gold buyers out there with too many dirty tricks up their sleeves not to do your homework properly and be 100% sure you are going with a company you can trust.

Sam Rivers has been in the gold and jewelry industry for over 30 years! A frequent writer on consumer advocacy within the gold for cash industry, Mr. Rivers assists gold sellers with advice and tips on how to get top dollar and sell gold.Article Source:http://www.articlesbase.com/finance-articles/beware-cash-for-gold-companies-1133483.html

The American buffalo gold coin has an obverse side which presents the striking and sharp profile of a Native American Indian; the date of the coins creation is seen in the neckline of the profile, and the word “LIBERTY” appears in an arc in the upper right hand side of the obverse presentation of this coin. The reverse side of the American buffalo gold coin depicts a highly detailed American Buffalo with the numeration of $50.00 and the words “.9999 1 OZ. Pure Gold,” marked at the bottommost part of the reverse side of this coin. The uppermost part of the coin reveals the words “UNITED STATES OF AMERICA” as well as “E Pluribus Unum,” which literally translated comes to mean, “Out of one, many.” Uncirculated versions of the American buffalo gold coin have been severely limited in terms of production: only 300 thousand of these coins have been created and they are therefore among the most coveted types of buffalo gold coins presently available.

The American buffalo gold coin was made specifically to gain the attentions of avid coin collectors; the government sought to appeal to coin collectors seeking other gold coins from other parts of the world and therefore purposefully had the buffalo gold coin designed. These coins are not only amazingly crafted, but they will continue to increase substantially in value over time. Adding these coins to a collection not only serves as a wise investment, but proves to be a more than satisfying endeavor for the coin enthusiast.

To learn more about American Buffalo gold coin, I recommend you checking out Gold Buffalo Coins. It is a specialized gold Buffalo coin for sale site, offering a great selection of American gold Buffalo coins, silver Buffalo and Buffalo Nickels for sale. This website makes finding your dream American Buffalo Coin a million times easier. Be sure to try this website before you buy.

Wilson Snyder is a freelance writer. Learn more about American Buffalo gold coin at Gold Buffalo Coins.

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