What is the gold price?
The gold price indicates the price of gold in US dollars per ounce and shows it over time. The daily value includes fluctuations over time due to supply and demand as well as stock market speculation, but is also subject to economic developments such as inflation. In recent years, the gold price has been very stable and has shown positive development; investing in gold is therefore particularly suitable for the medium and long term. The precious metal, whose value cannot fall to zero, has always exuded trust and stability and is therefore considered a safe investment, unlike currencies. Even in economically bad times, the gold price usually rises because demand for a safe investment increases and more trust is placed in gold than in the respective national currency.
gold price and wholesale
Gold is traded on so-called gold exchanges. The largest include the New York Mercantile Exchange , the Tokyo Commodity Exchange and the Chicago Board of Trade. Since gold is traded internationally, the gold price also depends on the world market and does not reflect purely national developments, such as economic or inflationary ones.
Gold bars and gold coins are used as investments, while speculative trading involves investing in securities.
Gold is purchased by jewelers and special dealers who also base their prices on the current gold price. If you want to invest in gold, you can purchase the precious metal from gold dealers or banks at the current gold price, plus the corresponding fees.
The gold price in the manufacturing jewelry industry
The gold price is not only important when buying or selling gold as an investment, but also when trading securities. In the jewelry industry, the current daily gold price also determines the price of your piece of jewelry when making an offer. The gold content, which is also stamped on the piece of jewelry with the gold stamp , is very important when determining the value. The current gold price indicates the price per troy ounce. Using this value, the price of the piece of jewelry can then be determined taking into account the weight and the fine gold content. RENÉSIM only uses gold with a high fine gold content of at least 75% (750 gold). When calculating the value, it is unimportant whether it is yellow gold , rose gold or white gold .
