The world market price of gold has this year broken 15 new historical records. Since the turn of the year, the price increase is currently up by over 30 per cent.
The price for one troy ounce of gold (approximately 31.1 grams) has risen to Tuesday's historical high of 3,500 dollars, up from 2,657 dollars at the beginning of the year.
However, the dollar has during the year – alongside all the increases in long-term US interest rates and stock market falls on Wall Street – simultaneously taken a significant beating on the currency market. This also applies to the Swedish krona. And this affects the gold price translated to kronor, which is what Swedish small investors have to settle for.
The price of one dollar has in just over three months plummeted from 11.15 kronor to today's rate of 9.50 kronor – the lowest dollar rate in three years.
And if you use these exchange rates and translate the price increase of over 30 per cent for the gold price in dollars, only about 11 per cent remains if you measure the price increase in kronor – up by about 3,300 kronor to 33,250 kronor per troy ounce.
It should be noted that Swedish small investors who want to make deals with their gold assets also have to factor in the often remarkably large profit margins that most larger gold buyers take for themselves in the transaction.
