- 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: 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: 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: 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: 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
- 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
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Stability of Gold
Since the dawn of recorded history, man has prized gold for its beauty and enduring luster. And just as gold never loses its sheen, its appeal as an investment asset is also enduring.
Gold is known as the “asset of last resort”. And while that may seem overly dramatic, it is not an inapt description. Throughout history, fiat currencies (money that is only backed by its government of issuance) have come and gone; gold has remained remarkably stable.
Gold is not tied to any one government or financial market. As such, it is less susceptible to global unrest, political instability or economic slowdowns.
Over the last two hundred years, the value of gold has outpaced inflation. In other words, gold has maintained its purchasing power while other commodities have flopped. For example, one U.S. dollar today could only purchase a nickel’s worth of goods one hundred years ago.
As inflation woes worsen, the price of gold increases as investors rush to the value retention it offers. Investing in gold is one of the surest forms of insurance against the fluctuations of a volatile economy. Even countries rely on gold as a store of value- one quarter of the world’s gold supply is held in reserve by governments.
The price of gold is negatively correlated to the value of other assets like stocks. This means that as the value of different stocks decreases, gold’s price tends to increase. In the midst of our current global slowdown, the price of gold should only continue to rise as stock markets flounder and more investors pull their money out of government-backed currencies and investments.
For these reasons, gold is often purchased as a hedge against inflation and currency devaluation. Even when gold does suffer short-term devaluation, it always seems to recover its value. Because gold is scarce and cannot be manufactured, its value is ensured for perpetuity.
In addition to its appeal as a store of value, gold can improve the stability of your entire portfolio by increasing its diversity. The purpose of portfolio diversification is to protect your entire portfolio from the devaluation of one asset. Spreading your money around a variety of assets ensures that your entire nest egg will not be brought down by a single bad investment.