In times of crisis – especially in regard to the worry child Greece – always looking for safe investments. The precious metal gold, seems to be a safe haven and the best hedge against inflation. Especially in the last few months there have been many uncertainties in the markets, so that the euro crashed and the Deutsche Leitindex rose.
According to experts, European investors are currently fleeing into gold, in order to save their money from the threat of Greece. As a result, about try this website original site to the price of gold is currently rising, which, of course, can also benefit enormously from binary options investors. It is therefore the ideal time to invest in the precious metal. It is particularly advantageous that beginners and inexperienced traders can also acquire options without understanding the complex futures market, which is usually traded on gold.
The price of gold has always been created by supply and demand. It is based on financial market crises, inflationary fear and speculation. In addition, the gold price is also affected by the oil price and the US dollar, as gold is traded mainly in US dollars. Gold is traded on the commodity markets (commodity markets) and the value is denominated in US dollars per ounce (1 ounce equals 31.10 grams of Reingold).
Experts have claimed active when over 160,000 tons of the precious metal for over a century, with some 55,000 tons of gold remaining in reserve. From an industrial perspective, however, the precious metal silver is much more important, as only 12 percent of the gold production is used for the industry. Bars and coins are produced only from about one third. The demand for the jewelry industry is more than 50 percent.
In Europe and North America the gold demand 30 years ago was still made a post if immensely high, whereas today gold is more needed in India and China. Only in 2012 there was a drop in demand in India, because tariffs were doubled there. However, according to experts, demand will rise again in the long term.
At the London Bullion Market the gold price has been determined since the 17th century. In order to fix the gold price formally in 1919, the gold dealers Sharps & amp; Wilkins, N, M Rothschild & amp; Cons, Pixley & amp; Abell, Mocatta & amp; Goldsmid and Samuel Montagu & amp; Co. In 1968, another daily meeting was held at 4:00 pm (CET) to re-determine the gold price for the opening click here for more info person hours of the US stock exchanges.
N M Rothschild & amp; Sons withdrew in 2004 from the gold trade. In the same year the meetings began at Barclays Bank. This is where the representatives and members of the LBMA (London Bullion Market Association) meet every day: Barclays Bank, Bank of Nova Scotia-ScotiaMocatta, Deutsche Bank AG London, HSBC Bank USA NA London Branch and Société Générale
As the first stock exchange in Hong Kong, the Chinese Gold and Silver Exchange Society (CGSE) was legally registered in look look at here now 1918, but since 1910 it had been trading under the name “Gold and Silver Exchange Company” with physical gold. The world’s largest gold exchange, the New York Commodities Exchange (COMEX), began trading gold futures in 1974. It was founded in 19333 and merged with the New continue reading this.. most York Mercantile Exchange (NYMEX) in 1994. Currently, the largest gold exchanges are as follows:
For binary options traders, the following trading hours are especially important:
London Bullion Market: Monday to Friday: 09.50 to 16.00 (CET)
Goldfixing: 11.30 am and 4 pm (CET)
New York Mercantile Exchange:
Electronic: Sunday to Friday from 00.00 to 23.15 (CET)
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Tokyo Commodity Exchange:
Monday to Friday: 1am to 7am (CET) and 9am check these guys out his to 3pm (CET)
At the end of June, the gold price in London was 1,171 US dollars per fine, so that the precious metal price was 1.7