- GOLD PRICE PER TROY OZ: Norwegian Krone Code: NOK Ask: 8,108.46 Bid: 8,102.81
- GOLD PRICE PER TROY OZ: Lithuanian Litas Code: LTL Ask: 3,322.96 Bid: 3,320.65
- GOLD PRICE PER TROY OZ: Israeli Shekel Code: ILS Ask: 4,415.11 Bid: 4,412.04
- GOLD PRICE PER TROY OZ: Hungarian Forint Code: HUF Ask: 301,554.79 Bid: 301,344.82
- GOLD PRICE PER TROY OZ: Danish Krone Code: DKK Ask: 7,175.08 Bid: 7,170.08
- GOLD PRICE PER TROY OZ: Yemeni Rial Code: YER Ask: 299,849.25 Bid: 299,656.21
- GOLD PRICE PER TROY OZ: Tunisian Dinar Code: TND Ask: 2,296.18 Bid: 2,294.71
- GOLD PRICE PER TROY OZ: Syrian Pound Code: SYP Ask: 135,850.67 Bid: 135,763.21
- GOLD PRICE PER TROY OZ: Somali Shilling Code: SOS Ask: 2,023,133.60 Bid: 2,021,831.16
- GOLD PRICE PER TROY OZ: Sudanese Pound Code: SDG Ask: 6,160.19 Bid: 6,156.22
- GOLD PRICE PER TROY OZ: Qatari Riyal Code: QAR Ask: 5,088.24 Bid: 5,084.97
- GOLD PRICE PER TROY OZ: Omani Rial Code: OMR Ask: 537.37 Bid: 537.02
- GOLD PRICE PER TROY OZ: Mauritanian Ougiya Code: MRO Ask: 365,359.85 Bid: 365,124.64
- GOLD PRICE PER TROY OZ: Moroccan Dirham Code: MAD Ask: 11,962.69 Bid: 11,954.99
- GOLD PRICE PER TROY OZ: Libyan Dinar Code: LYD Ask: 1,780.75 Bid: 1,779.60
- GOLD PRICE PER TROY OZ: Lebanese Pound Code: LBP Ask: 2,101,393.52 Bid: 2,100,040.69
- GOLD PRICE PER TROY OZ: Jordanian Dinar Code: JOD Ask: 990.49 Bid: 989.85
- GOLD PRICE PER TROY OZ: Iraqi Dinar Code: IQD Ask: 1,601,216.66 Bid: 1,600,185.84
- GOLD PRICE PER TROY OZ: Algerian Dinar Code: DZD Ask: 110,648.24 Bid: 110,577.00
- GOLD PRICE PER TROY OZ: Djiboutian Franc Code: DJF Ask: 251,077.45 Bid: 250,915.81
- GOLD PRICE PER TROY OZ: Bahraini Dinar Code: BHD Ask: 526.47 Bid: 526.13
- GOLD PRICE PER TROY OZ: Czech Koruna Code: CZK Ask: 31,404.36 Bid: 31,386.55
- GOLD PRICE PER TROY OZ: Polish Zloty Code: PLN Ask: 5,051.18 Bid: 5,048.36
- GOLD PRICE PER TROY OZ: Code: Ask: 0.00 Bid: 0.00
- GOLD PRICE PER TROY OZ: Singapore Dollar Code: SGD Ask: 2,131.10 Bid: 2,129.86
- GOLD PRICE PER TROY OZ: Brazilian Real Code: BRL Ask: 2,945.92 Bid: 2,927.06
- GOLD PRICE PER TROY OZ: Hong Kong Dollar Code: HKD Ask: 13,365.98 Bid: 13,271.12
- GOLD PRICE PER TROY OZ: New Zealand Dollar Code: NZD Ask: 2,090.29 Bid: 2,089.07
- GOLD PRICE PER TROY OZ: Rand Code: ZAR Ask: 13,741.74 Bid: 13,562.33
- GOLD PRICE PER TROY OZ: Yuan Renminbi Code: CNY Ask: 10,900.27 Bid: 10,876.77
- GOLD PRICE PER TROY OZ: Yen Code: JPY Ask: 134,064.55 Bid: 133,935.00
- GOLD PRICE PER TROY OZ: Swedish Krona Code: SEK Ask: 10,947.26 Bid: 10,940.88
- GOLD PRICE PER TROY OZ: Australian Dollar Code: AUD Ask: 1,628.60 Bid: 1,626.79
- GOLD PRICE PER TROY OZ: Pound Sterling Code: GBP Ask: 1,066.41 Bid: 1,064.93
- GOLD PRICE PER TROY OZ: Malaysian Ringgit Code: MYR Ask: 5,263.11 Bid: 5,260.04
- GOLD PRICE PER TROY OZ: Vanuatu Vatu Code: VUV Ask: 159,927.33 Bid: 159,834.13
- GOLD PRICE PER TROY OZ: Swiss Franc Code: CHF Ask: 1,504.60 Bid: 1,502.87
- GOLD PRICE PER TROY OZ: Indian Rupee Code: INR Ask: 83,522.37 Bid: 83,456.56
- GOLD PRICE PER TROY OZ: Philippine Peso Code: PHP Ask: 73,355.28 Bid: 73,312.53
- GOLD PRICE PER TROY OZ: Argentine Peso Code: ARS Ask: 5,417.80 Bid: 5,397.51
- GOLD PRICE PER TROY OZ: Euro Code: EUR Ask: 1,237.57 Bid: 1,235.99
- GOLD PRICE PER TROY OZ: Mexican Peso Code: MXN Ask: 22,895.42 Bid: 22,864.94
- GOLD PRICE PER TROY OZ: United States Dollar Code: USD Ask: 1,715.04 Bid: 1,714.04
- GOLD PRICE PER TROY OZ: Canadian Dollar Code: CAD Ask: 1,733.39 Bid: 1,714.21
- GOLD PRICE PER TROY OZ: Indonesian Rupiah Code: IDR Ask: 15,123,791.85 Bid: 15,114,978.45
- GOLD PRICE PER TROY OZ: Peruvian Nuevo Sol Code: PEN Ask: 4,678.45 Bid: 4,675.72
- GOLD PRICE PER TROY OZ: Colombian Peso Code: COP Ask: 3,754,390.59 Bid: 3,739,947.34
- GOLD PRICE PER TROY OZ: Kuwaiti Dinar Code: KWD Ask: 467.86 Bid: 466.73
- GOLD PRICE PER TROY OZ: Producer index Code: PROD IDX Ask: 74.16 Bid: 74.16
- GOLD PRICE PER TROY OZ: Russian ruble Code: RUB Ask: 132.63 Bid: 132.63
- GOLD PRICE PER TROY OZ: Vietnamese dong Code: VND Ask: 1,841,196.88 Bid: 1,841,196.88
- GOLD PRICE PER TROY OZ: Egyptian pound Code: EGP Ask: 994.64 Bid: 994.64
- GOLD PRICE PER TROY OZ: Consumer index Code: CONS IDX Ask: 48.27 Bid: 48.27
- GOLD PRICE PER TROY OZ: Turkish lira Code: TRY Ask: 0.10 Bid: 0.10
- GOLD PRICE PER TROY OZ: Korean won Code: KRW Ask: 107,409.78 Bid: 107,409.78
- GOLD PRICE PER TROY OZ: Thai baht Code: THB Ask: 4,452.10 Bid: 4,452.10
- GOLD PRICE PER TROY OZ: UAE dirham Code: AED Ask: 850.82 Bid: 850.82
- GOLD PRICE PER TROY OZ: G5 currency index Code: G5 CCY Ask: 78.26 Bid: 78.26
- GOLD PRICE PER TROY OZ: Saudi riyal Code: SAR Ask: 735.19 Bid: 735.19
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Gold vs. Silver
“The desire for gold is the most universal and deeply rooted commercial instinct of the human race.”
Among precious metals, gold stands alone.
In recent years, some investors have touted silver as an alternative to investing in gold. Between February and September of 2010, the price of silver increased by 30 percent compared with a 17 percent increase in the price of gold.
However, investors should note that the price of silver is volatile. Each sharp increase is countered by a steep decline. In September of 2011, the price of an ounce of silver dropped nearly 33 percent, from just under $42 USD to $28 USD.
Purchasing silver coins (especially in smaller denominations) also carries higher markup fees than purchasing gold coins. The logic behind this is simple: because silver coins cost so much less than gold coins, the percentage markup needs to be higher for the dealer to turn a profit.
Industrial Demand for Silver
Some proponents of investing in silver believe that it has added utility over gold because of its industrial applications in everything from electronics to photography. They argue that silver is not just a store of value; it has a practical application (and therefore a demand) that will never wane.
But silver’s utility as a commodity detracts from its status as a precious metal. Silver should first and foremost be considered a store of value. Casting it in any other light diminishes from this quality.
If the price of silver rises too high, industrial demand will wane. Silver has appreciated more than 800 percent over the last decade. Any further increase and industries could resort to using alternative materials, causing the price of silver to crash.
Gold is in the midst of an 11-year bull market, causing wary investors to predict that the price of gold will collapse as the market corrects. They are wrong. Skeptics have been waiting years for the so-called “gold bubble” to burst. It never has.
Because of the universal sway gold has over people, it will always be in demand. The higher gold prices rise, the more investors seem to covet it. Gold has always been the preeminent store of value, even when compared to other precious metals.
