20.500.12556/DKUM-15647 TRGOVANJE Z ZLATIMI PALICAMI TRADING WITH GOLD BARS Kot smo lahko videli, je zlato od odkritja okrog 4000 let pr. n. št., do danes pridobivalo na svoji pomembnosti, predvsem v gospodarstvu. Nekaj stoletij po odkritju se pojavijo prvi zlati kovanci, ki so služili za plačilo, in s tem zlato dobi svojo najpomembnejšo vlogo, kot hranilec vrednosti. Skozi zgodovino se je tudi veliko špekuliralo oziroma manipuliralo s cenami zlata. Okrog leta 1900 je t.i zlati standard (valute teh držav so torej vedno ustrezale določeni količini zlata (ali srebra), zaradi česar je bil menjalni tečaj med valutama stabilen) uporabljalo 50 držav. Ta zlati standard se je odpravil leta 1914 zaradi financiranja prve svetovne vojne. Drugi zlato-devizni standard se pojavi leta 1944, s tako imenovanim BrettonWoodskim sporazumom , katerega pa enostransko prekine predsednik ZDA Nixon, zaradi razvrednotenja dolarja. Prodaje in posojanje zlata igrajo torej v procesu manipulacij z zlatom osrednjo vlogo. Ko bo trg spoznal, da centralne banke nimajo več zalog, bo cena zlata neizogibno zrasla, saj se bo odnos ponudba-povpraševanje bistveno poslabšal. Trg zlatih palic je globalni trg. Z zlatimi palicami se lahko trguje po vsem svetu, čeprav je središče trgovanja v Londonu na LBMA. Londonski trg plemenitih kovin je trg veleprodaje, kjer je minimalna količina trgovanja med klienti po navadi 1.000 unč za zlato, ter 50.000 unč za srebro. Zapiski transakcij plemenitih kovin v Londonu segajo v 17. stoletje. Trgovanje na takšnih trgih poteka po nekakšnem utečenem vrstnem redu, za kar skrbi standardna dokumentacija. Priznavanje dokumentacije s strani članov LBMA, pripomore k temu, da ni potrebno vedno znova preverjat pogojev in ostalih pravil, ki so nujna pri bilateralnih sporazumih. Seveda pa je ta trg reguliran s strani FSA. Na teh trgih se trguje z različnimi velikosti zlatih palic. Seveda je izbira s kakšnimi palicami bo trgoval posameznik ali kakšna finančna organizacija, prepuščena lastni izbiri oziroma lastnim zmožnostim. Če se odločimo da začnemo trgovati z zlatimi palicami je pri tem potrebno upoštevat določene kriterije. Kot prvo je potrebno imeti dovolj začetnega kapitala. Potrebno je tudi izbrati najustreznejšega trgovca, izbrati primerno blagovno znamko, preučiti ceno zlata, kje bomo zlato palico hranili, kakšne so možnosti dostave in kakšni so še drugi stroški pri prodaji oziroma nakupu zlate palice. Seveda pa trgovanje ne poteka samo v Londonu. Pomembnejši trgi so še COMEX, BM&F, DMCC, IGE, MCX, TOCOM, SGE, SHFE in CGSE. Kot lahko vidimo je trgovanje z zlatimi palica in drugimi oblikami zlata postala enormna operacija, katere se udeležuje vse več ljudi predvsem zaradi možnosti velikega zaslužka. As we have seen, the discovery of gold around 4000 years BC, till now, gold was gaining his strength, especially in the economy. A few centuries after the first discovery of gold, the first gold coins occur. They were used for payment and with that, the gold gets the most important role, the store of value. Throughout history gold prices were subject of many speculations. Around year 1900, 50 countries was using so called gold standard (currencies of these countries were always correspond to a certain quantity of gold (or silver); because of that the exchange rate between the currencies was always stable). The gold standard was eliminated, because countries desperately needed the money for the firs world war. The second gold-exchange standard occurs in 1944, with so called BrettonWoods treaty. This second gold standard was one-sidedly eliminated by president of USA Nixon, because of the devaluation of the dollar. Gold sales and lending plays in the process of manipulation the central role. When the market will noticed, that the central banks do not have anymore stocks, the gold price will inevitably grown, because the relation between supply and demand will deteriorated. The gold bars market is a global market. People can trade with gold bars all over the world, although the center of trading with gold bars is in London at LBMA. The London bullion market is a wholesale market, where minimum traded amounts for clients are generally 1,000 ounces of gold and 50,000 ounces of silver. Records trace bullion transactions in London back to the 17th century. Trading on such markets runs on established order. In that purpose they are using the standard documentation. The major advantage of standard documentation is that it defines market practice. Its utilisation by Members of the LBMA avoids the need to continually check the terms involved in bilateral agreements. Of course the market is regulated by the FSE. In these markets people are trading with various sizes of gold bars. Of course, the choice of what kind of bars will any individual or financial organization trade, is left to their own choice or their own ability. If we decide to start trading with gold bars, some certain criteria need to be considered. At firs, we have to have enough capital. Also you have to choose the most appropriate dealer, you have to choose the right brand, you have to research gold prices in past few years, also we have to consider where we can store gold bars, what the delivery options are and what other cost are involved in gold bar trading. Of course the trading with gold bars does not run just in London. The other important markets are COMEX, BM&F, DMCC, IGE, MCX, TOCOM, SGE, SHFE and CGSE. As we can see, the trading with gold bars and with other forms of gold had become enormous operation. More and more people are attending this business, due to the high earning potential. Trgovanje z zlatimi palicami BrettonWoodski sistem Gold Pool Gold Carry Trade LBMA Zlata palica Trading with gold bars BrettonWoods system Gold Pool Gold Carry Trade LBMA Gold bar true true false [G. Pauko] Slovenski jezik Angleški jezik Delo diplomskega seminarja/zaključno seminarsko delo/naloga 2010-09-15 19:26:33 2011-01-26 11:17:00 2022-04-13 07:28:14 2023-12-19 03:09:17 2010 0 Maribor 0 0000-00-00 NiDoloceno NiDoloceno NiDoloceno 0000-00-00 0000-00-00 0000-00-00 339.7 10539804 URN:SI:UM:DK:8ARLEDD4 UNI_Pauko_Grega_2010.pdf UNI_Pauko_Grega_2010.pdf 1 FDC7D6B8DEFB62F70F683A66B7BA7A82 b7f75517ca6428f6db5690b77c0c12e40cba358e3e792b79caabc2bc55ed6a62 72cb8a50-7c04-11eb-bb7a-00155d0001ca 20.500.12556/dkum/57be44ea-8caf-4b88-9201-64118ae9cdc4 https://dk.um.si/Dokument.php?lang=slv&id=17287 Ekonomsko-poslovna fakulteta 0 0 0