We all love the alluring yellow metal called gold. Indeed, the global wealth system is based on gold possession, with all countries storing their gold in huge vaults. Traditionally, gold has been a hedge against inflation for private investors; the pandemic saw global markets become volatile and investors moved their money out of sticks and shares, preferring the stability of gold bullion.
Image Source: Unsplash
When you go to purchase a gold bar, you will likely be asked what purity level you would like. This can seem confusing to those who are new to investing in this precious metal. This post takes a look at the different purity levels of gold bars and what that means for pricing. It will also explore how these bars are priced and what factors drive the cost. By understanding all of this, you’ll be able to make an informed decision about which bar is right for you. Ready to learn? Keep reading!
How Is Gold Shaped And Measured?
Due to a very low melting point, it is relatively easy to pour liquid gold into moulds and they come in many sizes, from a few grams to 1kg and everything in between. A popular size for small investors is the 1oz gold ingot, which is stored in a velvet pouch to protect the soft metal. The current gold price in Brisbane as well as in other parts of the world depends entirely on the spot price, the price at any given time.If you are looking to trade in gold, you need to forge a working relationship with a reputable gold bullion dealer.
Common Sizes Of Gold Bars
- 1 ounce
- 2 ounce
- 5 ounce
- 10 ounce
- 100 gram
- 250 gram
- 500 gram
- 1 kilogram
Gold as a form of investment is 999.9 pure, unlike gold that is used to make jewellery, which might be 18k, making it more durable. 24k gold is an industry standard and all bars would be stamped accordingly. Simply put, the level of impurity in 24k gold is minimal; it is as pure as is possible, which is perfect for wealth representation.
When you visit an established gold bullion dealer’s website, you can see the real-time prices and once you are registered as a user, you can trade in real time. As you would expect with a commodity that is easy to form, there are many sizes and levels of purity; although for the investor, 999.9 is the only way to go.
Image Source: Unsplash
Some gold coins like the SA Krugerrand are 91.67 pure, others 91.66, and they have a live spot price, much like all otherforms of gold. In general, Australian gold coins are 999.9 and they are very popular among small investors as a form of wealth storage. If you acquired a gold coin every month, in a few years, you would have quite a collection and if you track the previous few years, you will see that gold has performed well.
Why not join the many private investors who deal in gold? The pandemic is still with us and markets are jittery, unsure of the future and that is not a good time to be tied with the value of a company. Start by looking at your current portfolio and discover what is not performing as it should and liquidate that stock and reinvest in gold bullion, which is a much safer option.Register as a user with an established gold bullion dealer and you can use their secure market connection that enable you to buy and sell instantly, which is necessary if you are going to turn a profit.