Gold is the foundation of wealth, and every nation has a reserve of gold bullion, which supports their economy. There are several systems to verify the purity of gold and the most popular is the karat system. Gold is measured using 24 karats, with zero karats meaning no gold, while 24 karats are pure gold.
Take jewellery as an example, most gold jewellery is not made from pure gold (24k), rather it might be 9k (9 parts gold, 15 parts an alloy metal), or 18k (18 parts gold, 6 parts an alloy), while 14k is also used for making jewellery. In Asian countries, all jewellery is 24k gold, which is soft and malleable. You can walk into any gold shop and sell your 24k gold for the current spot price. Every piece of gold jewellery should have a hallmark stamp to indicate the purity of the gold used.
Well-known gold coins such as the Australian Kangaroo, American Eagle, American Buffalo and Canadian Maple Leaf are minted with 24k gold (999.9). Many private investors like to have gold coins as part of their portfolio, as they can easily be liquidated into fiat currency. Gold coins come in different weights and rather than using the karat system, these gold coins are 999.9 pure, while there are gold coins with a purity of 91.67, such as the Krugerrand. If you would like to acquire gold coins as part of your investment portfolio, start by searching with Google for an established gold bullion dealer with offices in your area.
Gold bars and ingots are 999.9 pure and that is across the board. Do not buy any gold bullion that does not have the 999.9 stamps. If you want to be sure of the purity and you are located in Australia, you can buy a gold bar Brisbane dealers are offering, or search through Google for a reputable dealer within your area. It is always wise to take physical possession of gold when acquiring, which you can do with a leading gold bullion dealer.
999.9 For Gold Investment
Forget the karat system; investors are only interested in 999.9 gold bullion and the best place to acquire pure gold is an established gold bullion dealer. They will buy and sell gold at the current spot price and such an organisation would always have their client’s best interests at heart.
Buying Gold EFTs
Gold traders rarely touch the commodity, rather they use gold EFT funds, which is paperwork to verify ownership. A trader might believe that the price of gold will be high in 6 months’ time and can buy gold EFTs in the futures market, making him a lot of money if his prediction is accurate. If you are going to invest a small amount, take physical possession of the gold, for obvious reasons. Contact your nearest gold bullion dealer and make an appointment to visit their offices; you can pay in any currency, plus their staff can advise you on safe storage.
Now is a good time to invest in gold, a commodity that has performed well since the start of the pandemic. Stock markets are uncertain now, and this means investors are moving into the safety of gold, which creates further demand and that drives up the price. You can buy small ingots and the largest size is a 1kg bar of gold, which is worth around $90,000. There are sizes in imperial and metric weights – from half an ounce to 100g, 200g and 500g gold bars, which means you can invest the amount you wish to.