Easy Gold Buying Process
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What Are Gold Bars?
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A gold bar and pure gold bar is a uniform block of gold with minimum purity of 99.5%. Also gold bar is known as gold bullion, they come in a variety of weights and sizes, each with its own set of pros and cons, to fit the preferences of any gold investor.
Gold bars are supplied by sovereign mints and private refineries. Smaller gold bars are minted using heavy machinery, whereas larger gold bars are cast by pouring molten gold into a mould.
What is the use of Gold bars?
Gold bars can be used in numerous ways we can list here, such as :
- Gold bars for Commercial Finance Instrument: Large organisations or gold companies in this world may want to add gold bars to their finance portfolios. Doing this could help them borrow at a lower rate.
- Gold bars for Personal Asset: People have always been drawn to gold because of its beauty and worth. Today, gold bars are primarily used as a long term store of value and to achieve financial security.
- Gold bars for Reserve Currency: Gold is no longer used as a circulation currency. It is now used as a reserve currency for international trade and to stabilize currency value. buy Gold bars in UK, USA, UAE
We believe now that you know what gold bars are, and why they’re important,
ARE YOU IN UK, USA OR UAE? buy now pure quality Gold bars from East Africa Gold sales GROUP
Buy Gold bars: How to Identify Investment Grade Gold Bars?
It is not difficult to identify investment grade gold bars. In terms of identification or features, most investment-grade gold bars are relatively similar. Gold bars must have a specific shape, weight, and purity to be considered investment grade. Each bar of gold bar should bear the name and logo of the sovereign mint or refinery, and bigger bars need to have a serial number to be considered. These safeguards are in place to help prevent counterfeiting and to prove authenticity.
All accepted mints and refineries adhere to stringent standards, which allows their gold bars to be bought and sold internationally with ease in UK, UAE, USA, AFRICA and worldwide.
Among the world’s most well-known mints are:
- Argor Heraeus
- Credit Suisse
- Engelhard
- Johnson Mathey
- Metalor
- MKS Pamp
- Perth Mint
- Royal Canadian Mint
- Umicore
- Valcambi
At East Africa Gold Sales Group, we only trade gold bars made recognized mints, approved refineries and government mints. Doing this ensures authenticity, competitive pricing and liquidity.
How Much Does a Gold Bar Weigh? Gold bars come in various sizes, namely:
- 1 oz
- 100g
- 250g
- 10 oz
- 500g
- 1 kilo
- 100 oz
- 400 oz (London Good Delivery Bars)
The most common form of gold bullion bars is London Good Delivery bars. These bars individually weigh 400 oz and are stockpiled and traded by investors, banks and governments.
The bars usually bear a unique serial number, the name and logo of the mint or refinery where they were created, and their purity.
Even though they are less common than gold coins, buying gold bars is a convenient way of investing in physical gold, especially for investors, companies and institutions interested in bulk purchasing investment-grade gold.
How Much Is a Gold Bar Worth?
The price of gold is easily calculated. However, just like with other investments, the price is continuously fluctuating. To understand the current value of gold, you need to keep an eye on its current market price.
Several factors can influence how much a gold bar is worth, namely the following:
- Gold Spot Price: this is the wholesale price at which 400 oz gold bars (London Good Delivery Bars) are traded between banks in international markets. Typically, private investors will pay a premium over the spot price. It takes less time and effort to produce bars, which is why they tend to have a smaller premium than gold coins, and gold dealers generally charge lower premiums for larger bars.
- Gold Content: According to the London Good Delivery List, administered by the London Bullion Market Association (LBMA), investment-grade gold bars must have a minimum fineness of 995.0 parts of fine gold per thousand. Therefore, the higher the gold content, the higher the worth of the gold bullion bar.
- Investor Demand: As mentioned above, the purest bars are the most sought after and can command a higher premium. Imbalances between supply and demand can influence the premiums at which gold bars trade.
- Weight: the worth of a gold bar will always be influenced by its weight. The more it weighs, the more it’s worth.