-- Published: Tuesday, 10 June 2014 | Print | Disqus
Today’s AM fix was USD 1,253.50, EUR 924.62 and GBP 746.22per ounce.
Yesterday’s AM fix was USD 1,255.00, EUR 920.70 and GBP 746.67 per ounce.
Gold climbed $0.40 or 0.03% yesterday to $1,253.30/oz. Silver rose $0.05 or 0.26% to $19.08/oz.
Gold is treading water and appears to be biding time prior to the economic data later this week.
After the positive jobs report last week, there is an expectation that retail sales may rise. A positive retail sales number could see gold come under pressure. A worse than expected number should lead to a safe haven bid for gold.
It is worth remembering that June has been a poor month for gold in recent years, especially last year and we could see weakness in this the last month of Q2 and indeed H2.
The FIFA World Cup
World Cup Fever to Take Over Trading Floors
Excitement is ramping up to June 12, when the world will be focused on the iconic sporting tournament, when the nations of the earth play each other to win one of the most cherished prizes in the world - The World Cup.
In just 2 days it all begins in Brazil, the birthplace of Pelé, who ruled when football was more about skill and guts rather than hairstyles, Wags, or how much you were being paid.
The World Cup trophy itself is legendary. Many fans don’t know if it it is gold plated or pure 24 karat gold? Or how much does it weigh and what is its worth in gold?
The current World Cup, commissioned in 1974, stands 36.8 centimeters high, weighs 6.177 kilogrammes or 218 troy ounces and is made of solid 18 karat gold.
This means that in gold terms, The World Cup is worth a measly €149,500 - £121,500 or $203,500, calculated at June 6, 2014, gold prices.
This wouldn’t even cover the payroll for some football stars in a week. Ronaldo, the Real Madrid European Cup Winner is currently earning more than €370,000 per week - £300,000 or $502,500 per week.
However, the joy of winning the World Cup and to represent your country, especially when many of these stars live far from home to compete in the best leagues available, well anyone will tell you that feeling of pride having your whole nation behind you is - priceless.
The World Cup is one of the oldest international sporting competitions in the world, established in 1930 and remains one of the most popular sporting competitions in the world. Over 3 billion people are expected to watch at least one minute of the tournament and nearly a billion people are expected to watch at least one minute of the final.
The trophy for this grand event has changed from the Jules Rimet Trophy (originally named Victory) from 1930 to 1970, to the 'FIFA World Cup Trophy' from 1974 to the present day, but the fans enthusiasm whether you call it football or soccer, remains at fever pitch.
The original trophy was an amalgamation of gold plated sterling silver and a deep blue colored semi precious stone. Unfortunately, this ornate object was stolen in 1983 and there has been no sighting of it since.
Todays winners of The World Cup only receive a replica of the trophy, which is just gold plated rather than the actual solid 18 karat gold trophy.
The present World Cup's “crown’s” design is by Italian artist Silvio Gazzaniga, chosen from among fifty-three submissions by sculptors in seven countries. The name of the country whose national team wins each tournament is engraved on the bottom side of the trophy.
This is the 20th FIFA World Cup and Brazil have been champions in five out of the previous nineteen tournaments.
Best of luck to all nations in the upcoming tournament, Olay! Olay! Olay!
Did you know?
The world cup is worth, in gold terms, $203,500! In value terms though , it is priceless!
The World Cup weighs 6.177 kilogrammes which is equal to 218 troy ounces as 1 kilogramme is equal to 35.274 troy ounces . 1 troy ounce of investment grade gold which is 24 karat or 0.9999 pure is worth USD 1,245, EUR 914.45 and GBP 742.69 at today's prices. 18 karat gold is 0.75 pure or 18 karat divided by 24 karat. Therefore the World Cup in monetary terms is worth just £121,500 or €149,500 or $203,500 at today's (06/06/14) gold prices. The FA Cup weighs 175 ounces of pure sterling silver. This means that in silver terms the FA Cup is worth a measly £1,991 or €2,439.50 or $3,358.25 at today's silver prices. The European Cup or Champions League Cup is made of pure sterling silver. It weighs 264 ounces or 7.5 kilogrammes of silver. This means that in monetary terms, the The Champions League cup is €3,700 or $5,100 at today's silver prices.
Gold has been used to symbolise power, beauty and achievement throughout the world’s history.. Today we continue to use gold for important events: wedding rings, Oscars, Grammys, ecclesiastical art, money, medals and trophies. No other substance of the same rarity holds a more visible and prominent place in our society.
Gold is also used as the first place winner's medal or trophy in most sporting and other competitions. The Academy Awards Oscars and music's Grammy Awards are made of gold. First place winners at the Olympic Games and in many sporting competitions are given gold medals. All of these important achievements are honored with awards made of gold - including of course the World Cup.
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-- Published: Tuesday, 10 June 2014 | E-Mail | Print | Source: GoldSeek.com