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Digital money of money and finance How is the price of gold set?

(Oroyfinanzas.com) - A few days ago a reader raised some doubts and we have thought that it is a sufficiently interesting theme, so that all readers can comment on the subject in the comments section if they wish.

The reader's message: Hello, I would like to know where you can sell pure gold, according to your stock exchange?That is, if you are quoted at $ 56.6 a gram today, I ask where I can sell it at this market price, because in purchase stores they do not pay or similar.Can someone explain it to me?Do I have to sell it to the bank directly?Should we have any license to sell it?How much gold can I go through customs without declaring?Thank you very much for your answer a greeting

Our answer to the reader: you can't talk about a global gold price.The quotes we see in the Kitco or other suppliers graphics usually reflect the price of the markets of London, New York or Hong Kong based on various sources of gold futures contracts, which are negotiated in the Comex, the NYMEX UOther markets.

Basically the fixation of the price of gold is a reference that is based on the gold gold trade and that has as its main objective to facilitate the negotiation of an asset through standardized contracts for which the physical delivery of the metal is only an option to which it isIt can resort.

The prices of gold futures do not have to coincide with the prices of physical gold and some experts even speculate that in the future, the price of physical gold could exceed that of gold paper (which quotes in the futures markets).

Diario digital del dinero y las finanzas ¿Cómo se fija el precio del oro?

The fixing of the price of gold is useful as an indicator or reference for those operating in the market.The main gold prices that are handled are those of the futures markets and there is also the Gold Fixing (there is also the Silver Fixing for La Plata, Platinum Fixing for Platinum and Palladium Fixing for El Paladio).

Like speculators who act in the market are always looking for arbitration opportunities, divergences between the main markets of gold futures and the Gold Fixing are usually non -existent or very small and for a short time.

The "Gold Fixing" provides a reference price for gold purchase and sale operations to producers, consumers, investors and central banks around the world.

The Goldfixing is set by the five members that compose it, which in turn are partners of the London Bullion Market Association and are: Scotia Mocatta, Barclays Capital, Deutsche Bank, HSBC and Société Générale.

Fixing the price of gold or Gold Fixing is the most appropriate indicator for the trends in the price of physical gold.It is set twice a day, although the afternoon fixing is more relevant, since New York markets are open and the negotiation volume increases.There are many veteran gold investors, who accuse the New York market of pressing the price of gold downward in the opening of the US market.

You cannot compare a gold financial product, such as a future over gold, an ETF quoted fund (Exchange Traded Fund) that replicates the price of metal or other products, with physical gold.In the same way that it is not the same to possess a gram of gold as to have a Good Delivery Golden Langote of 12.5 kilos of pure gold.

Production costs and the way of negotiating the different types of ingots or others from different weights, differ and will always have a different price in the market.When you buy physical gold, the premiums that are paid are reduced the higher the weight of the ingot or currency in question, since the cost of production per unit is also lower.For this reason, gold or similar gold bullion do not have value as an investment because the premium that is loaded is usually very high and are considered rather gift objects.

Finally it really depends on what you want to get with investment.If what is desired is to speculate on the gold market, metal -related financial products are the most advisable, but it must be taken into account that physical delivery is almost never done.On the other hand for the long term, buying physical gold is recommended as tangible active that protects purchasing power.

If they have inherited some gold coins or ingots or bought them in the hope of selling them at a higher price, it must be taken into account that there will be discrepancies between the market price of gold financial products and the price of physical gold.

Finally, the amount of gold that can be transported when traveling varies greatly according to the country and it is best to consult with the corresponding customs authorities of the country of origin and destination.

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