Price of Gold - Gold as a ”safe haven“?

Gold: Safe Haven

Again and again investors head for the „safe haven“ of gold. That‘s what happened, for example, in the 1970s when the first oil crisis set in (1973) and gold was able to fulfil its role as a „safe haven“ for investments. From 1973 to 1974 the price of a troy ounce increased from 65 to almost 200 US dollars, while during the same period global equity markets crashed by 35%. 

In the following years, the price of gold rose to an interim peak of just under 850 US dollars. It was only as a result of the crisis on financial markets that this level had to be revised to a price of over 1,000 US dollars and during the EU debt crisis to nearly 2,000 US dollars. Once again, gold seemingly proved to be a „safe haven“. Whereas global equity markets crashed by 56% between the beginning of the financial crisis in June 2007 and March 2009, the gold price increased in the same period from around 670 US dollars to almost 1,000 US dollars.

But is it really just the momentary psychological impact of investors that has lifted the precious metal to its new record level. What is it about gold that still holds investors‘ interests?

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CATEGORIES OF GOLD BARS

INTERNATIONAL GOLD BAR GROUPING
Standard, innovative and unusual gold bars, manufactured around the world, can be grouped into 55 categories.
The grouping gold bar by Grendon International Research (GIR) relies on information derived from associated GIR projects: The Industry Catalogue of Gold Bars Worldwide and The Industry Collection of Gold Bars Worldwide.

GOLD BAR CATEGORIZATION

The categorization is based on weight denomination, shape, decoration or a distinctive feature.
Although jewellery, industrial and other fabricators absorb the bulk of GOLD bars manufactured, the bars in 46 of the 55 categories have the capacity to fulfill an investment role, as they would normally be issued at a low premium above the prevailing value of their fine gold content.

GOLD BAR CATEGORIES

The 9 supplementary categories include newly-mined doré bars, melted scrap bars, bars which are issued at a fixed price or at a relatively high premium, and sample bars.
For a definition of a gold bar, cast bar and minted bar, refer to the website section: “Definitions: Bar Types”

London 400 oz bars	Oval bars
COMEX 100 oz bars	Twin-coin bars
Shanghai 3000 g bars	Yin-Yang bars
Kilobars	Bone bars
Smaller bars: gram	Doughnut bars
Small bars: troy ounce	Tezabi bars
Tola bars	Coiled bars
Tael bars	Honeycomb bars
Baht bars	Plate bars
Bars: issued by banks	Unmarked refined bars
Compressed cast bars	Supplementary
Bas-relief bars	Mine doré bars
Boat bars	Garimpo doré bars
Block bars	Melted scrap bars
Square bars	Fillet bars
Round bars	Model bars

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What is gold? Gold Dictionary

What is gold?

gold |gōld|

noun

1 a yellow precious metal, the chemical element of atomic number 79, valued esp. for use in jewelry and decoration, and to guarantee the value of currencies. (Symbol: Au)

• [with adj. ] an alloy of this : 9-carat gold.

Gold is quite widely distributed in nature, but economical extraction is only possible from deposits of the native metal or sulfide ores or as a byproduct of copper and lead mining.The use of the metal in coins is now limited, but it is also used in electrical contacts and (in some countries) as a filling for teeth.

2 a deep lustrous yellow or yellow-brown color : her eyes were light green and flecked with gold.

3 coins or articles made of gold : her ankles and wrists were glinting with gold.

• money in large sums; wealth : he proved to be a rabid seeker for gold and power.
• a thing that is precious, beautiful, or brilliant : they scout continents in search of the new green gold.
• short for gold medal.

PHRASES

go gold (of a recording) achieve sales meriting a gold disk.

pot (or crock) of gold a large but distant or imaginary reward. [ORIGIN: with allusion to the story of a crock of gold supposedly to be found by anyone reaching the end of a rainbow.]

ORIGIN Old English , of Germanic origin; related to Dutch goud and German Gold, from an Indo-European root shared by yellow .