XAUxxx 1 oz Gold Spot Prices in major currencies
When we talk about gold prices, we generally refer to the gold prices in US dollars. In predicting dollar-denominated gold prices, it is helpful to look around gold prices in various currencies. This page serves that purpose.
Spot Gold (XAU/USD) : Sign of physical gold: Au from Latin 'aurum'. Atomic number 79. Code: XAU. XAU refers to the ISO 4217 standard code for One troy ounce of physical gold. 1 troy ounce (oz t) = 31.1034768 grams. XAU = 99.99 percent pure gold = 24K gold. 24k gold means that all 24 parts in the gold are all pure gold without traces of any other metals. Gold is relatively rare element and is a precious metal that has been used for coinage, jewelry, and other arts throughout recorded history. In the past, a gold standard was often implemented as a monetary policy, but the world gold standard was abandoned for a fiat currency system after 1971. A total of 197,576 tonnes of gold exists above ground, as of 2019. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.
Spot Silver (XAG/USD) : Sign of physical silver: Ag from Latin 'argentum'. Atomic number: 47. Code: XAG. XAG refers to the ISO 4217 standard code for One troy ounce of Physical Silver. 1 troy ounce (oz t) = 31.1034768 grams. XAG = 99.99 percent pure silver without traces of any other metals. Physical silver is found in the Earth's crust in the pure, free elemental form of Native Silver as an alloy with gold and other metals. Most silver is produced as a byproduct of copper, gold, lead, and zinc refining. Silver has long been valued as a precious metal. Other than in currency and as an investment medium (coins and bullion), silver is used in solar panels, water filtration, jewellery, ornaments, high-value tableware and utensils, etc.
Gold Silver Ratio (also known as the Mint Ratio) : Gold/Silver Ratio = Gold price ÷ Silver price. The price of gold divided by the price of silver. The gold/silver ratio shows how many multiples gold is trading relative to the price of silver. The gold-silver ratio refers to the relative value of an ounce of silver to an equal weight of gold. The gold/silver ratio represents the number of ounces of silver required to purchase one ounce of gold. The gold/silver ratio is simply the amount of silver it takes to purchase one ounce of gold. If the ratio is 10 to 1, that means, at the current price, you could use 10 ounces of silver to buy one ounce of gold.
Newmont Goldcorp (NYSE:NEM) : Newmont Mining Corp. has bought Canadian miner Goldcorp Inc. in 2019, and the new company is called Newmont Goldcorp. They are American mining company and has active gold mines in Nevada, Australia, Ghana, Peru, and Suriname. Products - Gold, copper and silver. S&P 500 Component. Headquarters in Greenwood Village, Colorado, US.
Barrick Gold Corporation (NYSE:GOLD, TSX:ABX) : The largest gold mining company in the world. Products - Gold Silver Copper. Operations in Argentina, Australia, Canada, Chile, the Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, the United States and Zambia. : Barrick Nevada, Pueblo Viejo, Veladero mine, Lagunas Norte mine, Kalgoorlie, Porgera, Turquoise Ridge, Hemlo, Golden Sunlight mine, Pascua Lama. S&P/TSX 60 component. Headquarters in Toronto, Ontario, Canada.
Wheaton Precious Metals (NYSE:WPM, TSX:WPM, FWB:SII) : A multinational precious metals streaming company. They produce over 26 million ounces and sells over 29 million ounces of silver mined by other companies including Barrick Gold and Goldcorp as a by-product of their main operations. In 2004, Silver Wheaton was established . They were previously controlled by Goldcorp until December 7, 2006 when Goldcorp's sale of 18 million shares. In 2008, Goldcorp divested itself completely of Silver Wheaton. Industry: Mining, Silver streaming. S&P/TSX 60 component. ISIN: CA8283361076. Headquarters: Vancouver, Canada.