Gold Heaps To Buy Including Gold Bars, Nuggets And Dust
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Buy Gold Heaps Cheaply With Documents
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This guide on how to buy gold will help explain to you the basics of buying and selling gold. We will look at gold in its different forms, investment strategies, the history of gold, the trends and patterns used to attempt to predict the price and the variables that influence the fluctuations in the spot price of gold. Whether you are looking to learn more about the gold market because you wish to make an investment or you simply have an interest in the historical or current market, this guide should help clear up the terminology and provide a basic understanding of how the price of gold works. If you are looking to purchase gold, read through this guide on how to buy gold bullion, to find out everything that you need to know.
1 Introduction to Gold Price
1.1 Buying and Selling Gold – The Basics
Gold is a precious metal, it is one of the densest metals with astonishing weight (one cubic meter weighs 19,300kg.) It is a yellow coloured precious metal with the chemical element Au (atomic number 79).
Due to gold’s high indestructibility, the majority of gold that has ever been mined is still in circulation today. It has been estimated that as of the end of last year that approximately 190,000 tonnes of above-ground gold stocks are in existence. Gold can be melted very easily thus meaning it can be refined and reused. This, therefore, means that recycled gold also has an impact on the dynamics of the world’s gold supply. It has been estimated that recycled gold makes up approximately 30% of the total global supply, leaving approximately 70% from mined gold. The largest producer of gold is currently China, which provides 12% of the total, of which Asia as a region accounts for 19% of newly mined gold.
The price of gold is an interesting topic as it is constantly fluctuating, and many people invest in gold as it has retained its value for many years. People will decide to buy gold for many different reasons. Whether you are an experienced investor, are purchasing gold as a gift or want to learn about gold prices on a hobby basis. It is said to be a good strategy if you want to protect your wealth against depreciation, inflation and currency fluctuations because gold price per gram has historically maintained a high value (although the value will drop during price troughs). This has led to it traditionally being considered as a low-risk strategy for investing. Gold is a potential investment option if you are looking for long term financial growth but it is also possible to make money buying and selling gold with a much more short term strategy. It is important to note though, that no strategy carries zero risk as there is always the chance of gold losing its value and the current gold price per ounce could drop.
There are several different methods to buy and sell your gold including from bullion dealers, cash for gold outlets and online companies. When you buy gold in person or online you should be provided with a sales receipt as proof of purchase when you wish to sell your gold on. Some people provide a certificate, but these are less common now due to fraud. The most commonly purchased types of gold are in the form of coins and bars and we will discover why this is later on.
There is a lot of confusing terminology when it comes to investing in gold so we are going to break down the terms and make getting the best price for gold a much easier task. If you are planning to invest it is better to be well informed before you begin as with any investment there are risks and things you need to know.
Ounce or troy ounce is the standard, universally recognised weight for discussing the price of gold. Since the 16th century we have been using the troy ounce as a measurement, it later became the official coinage unit of weight. The gold ounce price is always used for quoting what’s the price of gold and the spot price is recorded this way too. Even though we use the metric system in England quoting gold prices in grams is much less common, but you can have the prices converted into ‘gold price in grams’ or buy in a multitude of measurements online. One ounce of gold is equivalent to 31.1035 grams if you wish to convert this yourself.
The gold price oz is also quoted in dollars (dollars per ounce). The dollar was historically seen as the international currency and even today it is considered the safest currency. Using these units to discuss price standardises the commodity being sold. Thus, making trading more universal which thereby increases the amount of trade. Using different units would slow down the process and with prices changing by the second, there is little time for conversion during trading hours.
2 Gold in its Different Forms
When people refer to ‘carat’ this is a measure of the purity of the gold. With other materials such as pearls it can be used as a unit of weight, but Troy ounce is the unit of weight used for gold. The purity of gold is expressed in fractions of 24 with 24 being the purest form. 24ct is the softest form of gold and is also referred to and marked as four nines which may be written as 999.9 (parts per thousand). This also makes it the most valuable form of gold with 24-carat gold price being the most expensive when it comes to purchasing. 24k gold price is what most investors will be watching because bullion products are usually 24 carat, but some websites will provide prices for carats lower than 24.
Gold is available in a range of different carats, as the purity decreases, the carat drops. 18k gold price is still high but not enough really for investment and trading purposes. 18 carat means this gold has 18 parts of pure gold, hence it is 75% pure. It will be more difficult to get hold of 18k gold price per gram because less pure gold is of less interest to investors so if you have some gold you wish to sell and need say a 14k gold price per gram then you may need an independent valuation.
Gold is made less pure when it is combined with other materials. Most commonly these are alloys of copper or silver which do increase the durability of the material. As 24k gold is so soft it is less practical and not strong enough to be used as décor, jewellery or orthodontic appliances. However, when it comes to what price is gold in terms of carat then the purer the better as 24k gold price is the highest.
2.2 Gold Jewellery
If you are looking to buy or sell jewellery then you are more than likely looking for the 9ct gold price. This is the most popular type of gold and the majority of jewellery in the UK is made out of 9ct which only contains 37.5% of the precious metal. Unfortunately, this is not used for investment gold because its purity value is so low. However, it is one of the most popular for selling on in cash for gold outlets if you need to have some money fast.
Asian gold jewellery is typically made from gold of a higher purity, often 21 or 22ct. If you are looking to sell some Asian jewellery, then you will probably need to look for the 22k gold price. This jewellery appears a more yellow colour than normal jewellery as it is 91.6% gold and is also combined with silver in it. However, it is very important to check the hallmark of your jewellery to verify the carat of the material to obtain an accurate estimate for your ounce of gold price. Although it may be more impressive to look at and more interesting to invest in, sadly jewellery is not used for investment. Investment gold must be 99.5% pure gold to be able to compete in the trading market for a good value.
Jewellery accounts for two-thirds of annual gold demand and India are responsible for around 27% of that, which makes them the highest importer of gold jewellery in the world. This is largely down to Indian culture, where buying gold as a gift for weddings is extremely popular. The large gold demand in India actually became a concern for the government as they do not produce gold, so need to import it all in large quantities. Gold nearly accounts for 12% of Indian imports, which causes issues with the value of their currency. This weakens the currency due to the large amounts of Rupees needing to be sold to buy gold in dollars. This, therefore, means that other imports such as oil are made more expensive to buy. The Indian government also see it as an inefficient return of Indian savings as gold does not give an economic return to the Indian economy. To reduce the demand for gold in India, they have increased the import duty in the hope that people will invest their money in more economically efficient means such as shares and bonds. This will all have an impact on the price of gold all over the world as it can have a material effect on demand. China is also a large player when it comes to the demand for gold. Gold is also steeped in the culture of China, but it is only recently that China has become so affluent with much of the population striving to become middle class. This has meant that more people are now able to buy gold and due to the vast size of China, it has had a severe impact on the levels of demand. With the Chinese economy beginning to slow down recently and the possibility of a large debt crisis looming over the country, it is unknown whether the current levels of wealth rises will continue, therefore impacting the demand for gold. It is estimated that by the end of 2020, India and China, the world’s biggest gold demanding countries will have a combined increase of one billion new urban consumers, further affecting the demand for gold.
If you are looking to sell on gold jewellery with stones in this should not affect the price you get for your gold. The stones in themselves may be worth something but if you are selling the gold as scrap gold then the stones are removed, and the gold is melted down and refined.
2.3 Gold Coins
Gold coins have a little more character than trading the stereotypical bars of gold so may be ideal for those investing as a hobby or looking for initial smaller investments. Gold coins are not only used for investment but are also popular for gifts and memorabilia. There are a variety of coins available and collectors also play a large part in the trading of coins. Knowing the gold coin price can be very important if you are looking to sell a collection because a lot of people often underestimate their worth. However, when it comes to the price of gold coins, not all coins are worth a lot as they are again made from different purities of gold so looking at a gold price graph today may not be overly accurate. A typical bullion coin should contain one pure ounce of fine gold as either 22 or 24 carat and these are the coins used in investing. You can buy a range of different types of coins and the three most popular ones are the Royal Mint Britannia which is 24-carat gold, the South African 1 oz Krugerrand which is 22 carat and the Canadian Gold Maple which again is 24 carat. The coins with the highest carat carry the most value. The coins made by The Royal Canadian Mint are the finest gold coins in production and have been classified as 999.9. Coins are purchasable in different sizes and weights, produced in different years and different rarities.
UK coins, including gold sovereigns, half sovereigns and gold Britannia coins are Capital Gains Tax Free which makes them an appealing mid to long term investment option. This means that when you sell these coins on you will not be taxed on your profits which cannot be said for other materials such as silver. Profit is tax free on coins of the realm but all other profits over £12,000 a year are taxed.
2.4 White Gold
White gold has a more silver colour to it as the gold has been combined with a metal such as platinum or nickel. White gold will fetch much less in price compared to pure gold, so it is not commonly used in investing due to it not being in bullion form. However, you will still get a price dependent on its gold content, this is where white gold differs to the price of gold and silver. The valuation also depends on what the gold price is today. If you want a white gold price per gram these are available online. So, if you are thinking of selling white gold jewellery or purchasing, for example, a wedding ring, higher carats are available and can still be worth a lot of money. The main use of white gold again is in jewellery especially with ‘yellow’ gold jewellery becoming less popular in the UK in recent years due to the increased demand for white gold and rose gold jewellery.
You are most likely to sell a white gold ring to a gold dealer or by auctioning it online. Vintage pieces will sell for more money in auctions because of the high demand for this style. Dealers will usually then sell the jewellery on to be refined to extract the pure gold.
It is not just gold that investors are buying and selling, there is also a large market for silver bullion. Silver may be considered a more risky strategy even though gold and silver prices are closely linked, and both fluctuate daily, silver is known for making larger movements. Watching gold and silver prices live can be very interesting and also stressful for someone looking to invest in both markets. Gold and silver prices today are not the same as they have been historically because demand and supply have changed over time. If you are interested in investing in both then increases in gold and silver prices are both capable of making a profit if you buy and sell at the best times according to the daily price chart of gold and silver.
As an investor, you may want to keep an eye on both gold price and silver price charts and movements as they can often be affected by the same events such as economic events and government announcements. However, it is important to bear in mind that silver is also less popular for investing because you have to pay VAT when buying and selling so your profit may not be as large as it appears.
2.6 The Bullion
The term bullion refers to either gold or silver in its bulk form as a bar before it is changed into another form or valued. The spot price of gold chart is based on the bullion, which is pure gold; the price then decreases as the purity decreases. These charts show the gold bullion price every few seconds so people buying and selling bullion can do so when the gold price is at an optimal level. The bullion is used for investments mainly, people wanting to invest larger amounts of money will buy gold in the form of a bar. Jewellery, even 24 carat does not count as bullion. There are different types of bars available including Umicore, Emirates, Perth Mint and Metalor. These bullion gold bars are VAT free and some coins are also free from capital gains tax.
A bullion bar should be 99.5 percent pure fine gold and should possess a purity stamp. However, The American Eagle, Krugerrand and Britannia are only 22 carat, but they have additional weight in alloy to harden their wear. The gold bullion price is the daily price of gold bullion bars that fluctuates constantly and investors keep track of. The main reason people would want to know what the daily gold price is when they are wanting to buy or sell bullion and are looking for the highest and lowest prices.
Both silver and gold prices are available for bullion on a real gold price chart or silver chart. However, the price of gold rate can be different for coins, some are less expensive depending on their carat or make so you might need to find the price for your specific coin if you are looking to sell. Also, consider that some coins are not tax free so selling them will mean that you will not get the full stock price of gold per ounce selling price.
2.7 Scrap Gold
If you are not looking to invest but have some old jewellery, coins or other unwanted precious metal items then these can be sold off as scrap gold. Gold scrap price will vary between buyers and is greatly dependent on the weight and carat, so it is useful to shop around. It has a different value to other gold because it will need restoring to an original form especially in cases such as broken jewellery so you will not get scrap gold prices today anywhere near the live gold price or the gold bullion prices. This explains again why scrap gold is not used for investing but there is potential to make a profit from selling off old broken jewellery that you would usually have disposed of. You can be quoted for scrap gold price per gram online if you know the quantity you wish to sell but again this will be nowhere near the current price of gold per ounce. The scrap gold price does fluctuate in the same fashion as gold price, but you will get a lower value because the dealers will need to pay to get the gold refined and converted back into its original form.
3 Investment Options
3.1 Investing as a Hobby
For people interested in economics, world news, stocks and shares and investing, observing how much is the gold price can become a hobby (that could also make you some money). This makes a great hobby for many people whether it is after retirement, during maternity or to do weekends and evenings when you have a little free time to check the news price of gold. You get the thrill of watching the markets and investing whilst knowing you have a relatively safe investment that you will not lose money on if you don’t sell as the price drops. You can monitor your investment as frequently or infrequently as you want to by looking at the gold price news now, with our live spot price of gold and gold price charts.
For example, our average gold bullion order size is £1700 so say you invested £2000 and the prices can fluctuate 5% over a month there is potential to make £100 from such an investment. If you get the best gold prices you can make money and keep reinvesting your profit and the more gold you buy the more scope, there is to make money if you keep checking is the price of gold up today. If you start with 1 ounce and watch the 1 oz gold price until it is at its highest then sell it on you will be able to buy a larger quantity next time or repeat the same and cash in any profit made.
For those people who are less interested in the profit made or want to invest a smaller initial amount of money they may find investing in silver more exciting as the value tends to fluctuate more. However, before you decide on your investment have a look at the price for gold and silver today and evaluate your options.
3.2 Long-term Investment Strategy
There are no guarantees of an investment strategy that provides returns or holds its value without downside risk. However, over time gold has more or less maintained its value, even during downturns in the economy. This tends to be the case because investors see gold as a “Safe Haven” asset, which means that it’s perceived to be one of the safest assets available, which therefore means demand for it increases when there is turmoil in the markets. Whether it truly is a safer asset or not, is less important now because it is widely believed in the markets that it is. This means that because of herd behaviour, demand will generally always increase in market turmoil. You can then also add in the effect of speculators who recognise this reaction to market turmoil and buy gold to make a profit on the increased demand, which magnifies it further. Gold can therefore potentially provide you with a physical piece of wealth that is less affected by economic markets. Investing in gold is also partly seen by some as a safer asset because with gold you’ll always have something for your investment (a physical block of gold in a vault somewhere).
Gold price investing also has tax breaks whereas savings accounts and stocks and shares are all subject to tax. There is no added VAT on investment grade gold so you pay for only the value of the item, even when you cash them in the same applies regardless of how long you keep the investment.
You also have the possibility to make money from the price on gold via what is known as a ‘spread bet’. With a spread bet you do not have to actually buy any gold or have as much upfront money. You are able to bet on gold by predicting the price of gold in up or downwards movements. You make a profit for every point the gold moves in the direction you placed your bet. Because you are not outright spending your money on the physical gold you have more leverage meaning you can make bigger bets and earn more money in relation to the money you put up front. You will have to put a margin payment down to cover any severe movements in the price of gold, but this will be less than the cost of physically buying gold. Unlike when you buy gold outright, you are also able to make money via a drop in the price of gold, by betting that the price will go down. It is important to note here though that you could potentially lose much more money than the total risk of buying gold, because upward movements in gold are infinite, whereas on the downside gold can never have a negative value.
If you start off buying gold outright you will gain when gold prices increase and a higher price of gold in the market is what you are looking for if you wish to sell. However, it is important to consider that the value of your gold will drop when the price of gold price drops. It is therefore important to keep an eye on the selling price of gold. Although predicting where the price of gold is going to go next is extremely difficult, you can help your research and decision making by keeping a close eye on the price of gold latest news.
Even if you have invested in gold as a long term strategy then gold stock price and price for gold information is so readily available it is worth keeping updated in case of any particularly low prices to invest more or extremely high rates to maybe sell on some of your investment to be able to reinvest. If you want a long term investment it is important to keep up to date with financial news. Or simply just to know where your investment is at the moment which any serious investor would want to know.
3.3 The History of Gold – What Was the Price of Gold?
Gold price history is an interesting topic as people have been buying and trading with gold for many years. Gold has been used as a type of currency for centuries now and most governments still retain major gold investments. However, historically it was not in British culture to buy gold. We can look back as far to events such as WWII from 1939 to 1945 to see how these impacted the gold price per ounce history.
Since the gold prices, today per ounce have increased it has become a more popular investment strategy. In 2011 the gold selling price went up dramatically which provoked a media interest and investors quickly followed. As awareness became elevated so did the international gold price as more people were putting their money into gold as the demand boomed.
Looking at historical gold prices could potentially help you with any predictions regarding an investment in gold, as you’ll have a better understanding of trends in gold.
If you are looking at the historical price of gold from a hobbyist or interest perspective, then you may be interested to examine the gold bullion price history chart. Since the 70s there has been an impressive growth curve. During times of economic turmoil price accelerations have occurred rapidly. With prices as low as $40 per ounce in the 1970s, we’ve then had peaks of $1900. Even with lots of peaks and troughs throughout this time period, the price has seen a general long term upward trend. August 2011 saw the highest ever gold fix price at $1917.90 per troy ounce. There is even data of the gold price ounce when you research the history of gold prices as long ago as 1792. For the historians, this may be of great interest to be able to examine the progression of the value of gold from the 18th century to gold live price today.
Those who invested in gold before the huge increase in demand and popularity could have potentially made a huge profit on their investment. To put it into perspective in 1978 one ounce of gold was worth £110 and in 2013 it was worth £1072 which is an 875% increase so the long term strategy would definitely have paid off if they bought at the lower price. Although the true value of this investment in today’s money will be deteriorated by the effect of inflation.
From 1976 to 1980 IMF (international monetary fund) sold 50 million ounces of gold, this period in history is when people really became interested in investing in gold. From 1999 to 2000 14 million ounces were sold in two years and from 2009 to 2010 it was 13 million ounces. 175,000 tonnes of gold have been mined from around the world due to the hugely increased demand and investment interest.
Gold fix price was introduced in 1919 when 5 traders met in London on a daily basis to decide the price of gold for that day. This, in theory, has carried on to today’s markets but as of 2004, these meetings are held via conference call twice a day to provide a gold price in the UK during their trading hours. The fixed price ceased during WWII as the gold market in London was closed during this period as it was not safe enough to keep hosting the daily conferences so trading in gold became more difficult during this period and people were keeping their investments. In 1968 after the effects of the war on the economic market had settled, they introduced a second daily meeting in the afternoon to accommodate for the American markets and the time difference.
3.4 The Price of Gold Today
What is gold price today? The live gold price charts fluctuate constantly with the current live gold price changing every few seconds. The fluctuations are often very small, just a matter of pence. However, it is possible for the cost price of gold to fluctuate much greater than this in a day.
Trying to find gold prices online is very easy, there are many websites that will provide you with the latest gold price. The Gold Bullion Company have a live gold price chart that updates regularly throughout the day.
Our website will provide you with the price of silver and gold at today’s silver and gold price rates.
A daily change can have a big effect on an investor’s value of their gold. For a £2000 investment, a 5% fluctuation has the potential to lose or to make £100. A fluctuation like this provides a chance to make a large profit however the fluctuations will go down as well as up. This is why it is important to check gold price today because it’s not just today it’s every day that there will be a new set price for trades to occur. When you are looking to buy, and sell is when it is especially important to check the price of gold chart on a regular basis, so you don’t miss the optimum time to assist your investment.
3.5 Investing Today
You will first need to look at the gold price now as it is important to not rush into anything if the gold price per ounce today is in a trough. You can begin to grow your knowledge by looking at the world gold price today live, the gold price today per gram and gold market analyses. You can then look into different types of bars or coins to pick a product. If you want to invest a substantial amount of money it can be actually cheaper to invest in large gold bars. For example, 10 ounce bars can be purchased for a smaller fee over the spot price. You can buy online, in-store or over the phone from a bullion dealer when you have selected your product. You can then decide what to do with your gold as you can store it in a vault anywhere in the world and have it insured there. Your gold is then ready to be sold or kept as a long term investment.
4 Gold Price on a Global Scale
4.1 Worldwide Gold Prices
The gold industry is of worldwide interest with most countries having some money invested in gold or they make money from the mining and production process. As of recent years, China is the largest producer of gold and provides 12% of the total gold available with Asia as a whole providing 19% of newly mined gold. Africa is responsible for 23% of global output with 16% from Central and South America, 15% from North America and 14% from Eastern Europe,
There are many misconceptions when it comes to the world gold price. Different countries do not have their own gold price, the price of gold is a worldwide value that is influenced by markets worldwide. They ensure the price today gold will not vary significantly across the markets from country to country. The spot gold price is set in London twice a day and there is only one graph of the price of gold that applies to worldwide gold price, but this is available in different currencies. This fixing process is an agreement between people within the market so that trading on a specific day all happens at an agreed price. This means that the gold price in India today is the same as the London gold price.
However, if you are selling in other countries there may be differences in VAT to consider.
The gold industry is massive in Dubai and demand is very high. Airports in Dubai have lots of shops selling gold that is pure and tax-free. In Dubai it is becoming more of cultural value to spend large amounts of money on gold jewellery especially for weddings so buying it out there can be easier.
The effect of foreign exchange rates can greatly impact any profits or losses from investing in gold. This is less important if your home currency is US dollars, because if it were to be US dollars you would not have to exchange currencies to buy and sell gold. After all, this is the basic unit. It is important to note though that changes in exchange rates may affect demand for gold, because if the US dollar strengthens it will be more expensive to buy the equivalent dollars to pay for the gold, meaning there will be less demand. Non-dollar countries do have to factor in fx changes into the real profit/loss from gold investments because any profits may be outweighed by an adverse movement in their currency against the dollar to close off the trade.
The gold price in India does vary slightly across different cities because of local market factors. These include taxes, policies and availability. If you are planning to travel abroad and invest money into gold whilst you are there it is worth researching how much is the gold price in your destination not just in sterling.
India quotes their gold price in rupees so the conversion rates will, of course, affect your price so you need to check the exchange rates before buying. These may be favourable exchange rates making sure you get the most for your money, but this does mean keeping an eye on both the gold price latest and the exchange rates.
There are even worldwide factors that can actually indirectly influence the price of gold by increasing or decreasing its demand. Religious festivals can increase the demand for gold, so the Asian markets have a large influence on trading especially in India and China. If you are looking to sell, then these times of year may be good for increased prices. Chinese New Year is a great example of such an event falling in January or February so the prices may start to rise in January. These factors are known as seasonal factors, which may lead to seasonal trends.
4.2 Calculate the Price of Your Gold
To calculate the price of your gold you only need three things. You need the purity or carat of your gold, the total weight in ounces and the spot price. Some websites will offer to calculate you a price using other units such as grams and quote in different currencies. To make this very easy there are many gold price calculators available online just search for scrap gold UK calculator and you will have many available, for example:
These will tell you how much your gold is worth whether you are looking to sell or just want to keep in touch with the value of the gold you own. These prices will differ between suppliers and you may get a worse deal if you visit a cash for gold shop so it would be recommendable to look around before selling. Also buying and selling prices will vary so you may not obtain the same rate as the current gold price per gram that you find online for valuation. There can be a 4 or 5% difference in the live rate and the rate that you receive because of the constant movements and the buyer or seller rates.
4.3 Gold Price Live
LBMA sets the gold current price for the world in London twice a day where the members calculate the price based on several factors. There is one governing body that results in one single worldwide price. Having a fixed price allows transactions to occur throughout the day without the hassle of having to agree upon a price that changes every few seconds (the gold live price). Deciding on a gold trading price at which to do a large deal using purely the spot gold price live would be very challenging because of these fluctuations and would make trading much more complicated.
This information is readily available in a live gold price chart (some links are mentioned earlier). This chart plots the price of gold per ounce (or today gold price per gram) against time. To watch a gold price today live chart you can find them online to give you a feel for how rapidly and unpredictably the price movements occur. These gold price live charts are used by investors in the bullion industry on a regular basis.
4.4 Spot Gold Price
The price of gold spot price is the clinical term for the price you pay now for delivery now, it is the most up to date price to the second. The spot price is the price you will get for your gold in that exact moment. This value changes every few seconds during the hours of trade due to data collected about changes happening in trading in gold worldwide. This is where the term ‘spot’ comes from because everything is happening on the spot, there and then. Dealers use this to decide on the cost of their bars and coins, which can change throughout the day. This is the same as the live price which is the value that changes constantly.
The spot price for gold is able to detect very small changes in valuation. However, some people are now setting valuation limits where computers are instructed to sell. This means they do not require someone to sit and continually watch a gold price today graph and the computer is less likely to make an error and knows when gold price now exceeds a limit. When certain limits are broken, and the price is considered high, large companies such as hedge funds can program their computers to sell the vast amounts of gold they own. The value of gold then drops because so much is being sold so that they can buy it back at a lower price and they have an opportunity to make money from buying their own gold back.
Stop losses are a strategy that attempts to protect people’s investments against losing too much money. This is done by setting up a stop loss which means if the price drops to a specific level where they start to lose money that the computer automatically cashes in their investment. The argument is that banks artificially drive the price of assets (gold, currencies, and stocks) to a low point that triggers these people’s stop losses, so they automatically have to sell, and the banks buy the asset cheaper than what the real value of it is, so they can make money when the price goes back up again.
Traders also use the term spot price gold because you can have other forms of gold prices for different payment and delivery options. You can have a future or forward price which is the price you agree to pay at a future date for example in three months’ time for an agreed amount which will not be affected by the live price of gold. The gold price per oz is secured on the day the deal is agreed but the product does not need to be delivered or paid until that date. This enables people to secure a price and reduce the risk of the price increasing or decreasing at a later date. This may be useful for companies wanting to secure a large deal or if people are concerned the rates are going to change but do not want to invest yet.
4.5 Gold Fix Price
The gold fix price is the benchmark price of gold used to determine the price of products sold across the world. This is different from the spot price of gold because it does not fluctuate throughout the day. It gets set twice a day at 10:30 am and 3 pm in London at the LBMA and these values then act as today’s price of gold. The afternoon meeting was introduced to account for US markets because of the time difference.
This price was introduced to enable trade deals and to counter the constantly changing rates. All trade deals for that day will be made at the agreed fixed price to save dispute and ensure deals can be made easily and in an extended time frame.
You may also come across what is called the ‘future’ price for gold. This is different to a spot price because you neither have payment or delivery of gold on the spot. With a future contract, you are agreeing with somebody else to trade a certain amount of gold at a given point in time for a specific price. For example, you may agree with a counterparty that on a specific day in February 2021 you will trade 400 troy ounces of gold and you agree for the price to be $1,844.00 per ounce. The delivery of the gold will not have to take place till February 2021, and the payment will not have to be made until then either. These contracts were first introduced as a hedging method for traders of gold to guarantee prices for a future date, which helped for planning purposes. Nowadays the majority of gold futures are being traded for speculative purposes. This is because the futures markets are reasonably liquid markets, which means that there are lots of buyers and sellers, making it easier to trade. The reason more buyers and sellers are attracted to the futures market is that the size of trades and delivery dates are standardised. The exchanges that gold futures are traded on also guarantee payments in the case of a counterparty default, therefore reducing the risk for trading on that market.
5 Predicting the Price of Gold
5.1 Variables Influencing the Price of Gold – Are we Able to Forecast?
For many years people have been attempting to predict the price of gold. However, there is still gambling and speculating occurring surrounding the price of gold increasing or decreasing.
There are a number of variables affecting the ability to gold price forecast which makes it challenging to appreciate and understand the markets fully. This is a challenge for hobbyist investors but taking an interest in gold price news today could help you to forecast.
Variables influencing the price of gold include economic world events, future news, US government announcements, growth figures, markets in other countries such as China and India and hedge fund managers. It is possible for people with large quantities of gold to manipulate the markets by buying and selling in large quantities which is the economic effect of change and causes drastic unexpected fluctuations. If a company were to sell a large amount of gold, then the value of gold would depreciate because there is a greater supply of gold available to buy. This means that the price drops and such companies are able to buy back their gold at a lower price for gold per gram to free up some money or to reinvest in more gold.
There are tools available to help you in any attempts to forecast the price of gold. Kitco is a website that has live interviews with experts and hedge funds on a daily basis to keep people up to date with any global news and tips on how the price may change. This website has price quotes, charts, market information, analysis commentaries and a forum. This tool is used on a daily basis by bullion dealers. People also use information such as the gold chart price, historic data and the Fibonacci waves to identify a gold price trend. The Daily Telegraph also provide expert financial analysis in their financial reports, this could be useful to look at for those who are more serious about keeping a check on the value of their investments.
Monitoring the market is an important part of observing the trends and getting a feel for how the markets work to enable you to anticipate the gold future price. You can do this on several different websites where you can access a gold chart price daily in combination with historic data and gold price news.
There are other more general trends that can be observed throughout the year which can suggest better and worse times to look into buying and selling but these are not guaranteed as other factors will come into play. For example, the markets tend to slow down a little over the summer with many investors taking holidays. They are known to pick up more towards the end of the year as can be seen on gold chart price. Also, during times of celebration such as Chinese New Year and other religious festivals, the demand for gold may increase which could see an increase in the price too. During times of economic uncertainty and when stocks, shares and savings rates have taken a hit from the economy, the value of gold has historically increased. However, the rapid fluctuations that occur to the second cannot be predicted by such large trends, so it is important to still look at the gold spot price now to get the most current gold price on a gold spot price graph when you are looking to buy and sell.
Traditionally in most commodities, the real supply and demand of the commodity have a large impact on the price. For example, construction in China has slowed down, which has notably reduced the price of steel as there is less demand for it. This effect is not as prevalent in gold because it has become so ingrained that gold is more of an investment asset rather than just a commodity. Interest rates have become a large factor affecting the price of gold in recent times because of this. This is because gold can be considered as an alternative safe asset to invest the money instead of government bonds. We are currently going through a long period of uncharacteristically low-interest rates, which means that the return on government bonds is now very low. This low return on government bonds makes the substitute investment of gold, therefore, look more attractive as a result. We, therefore, find that if interest rates remain low, the demand for gold will stay higher, which increases the price. This also works in the opposite direction. If the Federal Reserve chose to increase their interest rate greater than the market expected at their next meeting, then it would logically be expected that the demand for gold will reduce, as its substitute has become the more attractive investment option.
5.2 Gold Price Graph
Here we have the long term gold price trend graph which shows the movement in gold prices since 1970. We can see that gold has gone through different stages in its history. Between 1970 and the early 1980’s we saw a gradual increase in the price of gold up to $700 per ounce in the early ’80s. We then saw a rapid descent in the price to approximately $300 per ounce in the space of two years. This equates to a 57% drop in value over the 2 year period. The price of gold chart shows that following this drop we experienced a prolonged period of reasonable stability in the price of gold fluctuating between $250 per ounce and $500 per ounce without any drastic shifts in the price. This would have meant a considerable drop in the value of gold holdings because inflation would have impacted the real value negatively. From 2005 we begin to see a rapid increase in the price of gold, up to over $1700 per ounce at the peak following the global financial crisis of 2007/08. This leaves the question of where gold will be moving next in the future.
The following chart is a daily chart showing the price movements of gold over the course of the day. We can see that the price does not move in a constant and smooth direction throughout the day, which shows the constant change of buyers and sellers within the market. On websites where you examine the price of gold charts, you will be able to adapt the time frames to look as closely at specific time periods as you wish, to the point where you can see the price movements on a tick by tick basis. You would generally choose to look at a daily chart for the price of gold if you were wishing to buy and sell gold over a shorter period of time, in comparison to looking at the long term chart above. Many short term traders would use this time framed gold chart to predict movements in the price of gold by using technical analysis. Technical analysis is the practice of predicting future price movements by looking at past price movements as an indicator, under the impression that past patterns on the chart will persist in the future. People can access this information and it will be the same worldwide so someone looking for the gold price Indian market will access the same data as other local markets, but they can be converted into different currencies.
Now we have talked you through everything you need to know on how to buy gold, you are now ready to start purchasing and investing in gold. If you require further advice on purchasing gold bullion products, contact us today for assistance from our expert customer service team.
Now we have talked you through everything you need to know on how to buy gold, you are now ready to start purchasing and investing in gold. If you require further advice on purchasing gold bullion products, contact us today for assistance from our expert customer service team.
This information is used for informational purposes only, you are to make your own analysis before investing based on your personal circumstances and independent financial advice. This information does not constitute or recommend any transactions or investment strategies and are not personalised recommendations or personal views. It is only to be used for screening to narrow a search but not to substitute independent research. We will not be liable in any respect for damage, expense or loss that could arise as with every investment. Value of shares and investments can go up as well as down so investors may not get their money back and past performance is not to be used as a guide to future performance. This is not legally binding and should not be constituted as investment advice.
Here you will find our guide on why to buy gold, where we will talk you through why you should invest in gold. Gold has long been considered a reliable store of value. Through times of political and economic turbulence, gold has been the default safe-haven to protect wealth against the threats of inflation, depreciation and currency fluctuations. If you are thinking about why do people invest in gold, we will answer all of your questions here on why to invest in gold.
Protect against Inflation Inflation, in simple terms, is the increasing cost of goods and services to the real-world value of the currency for which they are traded. Gold is regarded as a reliable hedge against inflation, holding strong in relation to the real-world value of the goods it can buy. Gold has a long tradition as the primary hedge against inflation, holding strong whilst other commodities weaken.
The classic adage of gold and the ability to hold value throughout history… In Victorian times, it was said that a ‘quality gentleman’s suit would cost roughly one gold sovereign’, with the current value of a sovereign being just above £300 you would still expect to be well-tailored with such a suit.
Hedge against Currency Depreciation Currency depreciation is one of the biggest challenges facing many governments in the modern age, protecting their national currency whilst maintaining a balance of payments is vital to the general health of an economy. Gold is considered exceptional at holding strong against the world’s primary trading currency, the US dollar when the US dollar index weakens, the gold price reacts moving in the opposite direction.
A Firm Foundation for Your Portfolio Building a diverse investment portfolio, it’s important to find the right balance between attractive, sometimes niche investments and rock-solid stable options. Many financial advisers recommend private individuals build their portfolio with a 10-20% foundation of a tier-1 asset – Gold or currency… The famed textbook hierarchical diagram always builds from a solid base of gold!
Capital Gains Tax Free In the UK, certain gold and silver coins are free from CGT (Capital Gains Tax), this ensures that you’ll pay no tax on the profits realised on your investment when you come to sell. Investors should look for Royal Mint Gold Britannia, Gold Sovereign and Silver Britannia products – On our web site, all CGT free products are marked by a badge to signify their tax free status.
Portability Gold is actually quite a portable product, meaning you can easily store and move your investment, whether it be stored at home or in a safety deposit box – Portability means there are little or no restrictions on the withdraw or transportation of your investment, even if you decide to take your investment across national borders!
Performance You would expect this to top the list, and really it should! Over the past twenty years (a typical mid to long term investment), the value of gold has made an impressive drive from £176 per troy ounce in 2000 to £1,220 in February 2020 – That’s 693% … Over the past five years, the price of gold has accelerated quickly, exploiting global economic and political insecurities to by far out-perform traditional saving, stocks and share investment options.
Security Taking everything into consideration, the tax benefits, hedge against inflation, depreciation and general performance, for many people, the real reasons to own physical gold bars and coins comes from the want for security, a safe vehicle in which to hold the kids university fees, the money for a rainy day – their life savings.
We’re not talking Armageddon preaching, conspiracy theorists hoarding kilos of gold in nuclear bunkers! Every day we talk to ordinary people who are desperate to ensure their mid to longer-term investments achieve their hopes and expectations in the face of a procession of bank bailouts and national debt!
Now you know why to buy gold, you can explore the outstanding bullion collections stocked here at The Gold Bullion Company. If you’re considering buying physical gold bullion as an investment and would like a friendly voice to help reassure your fears and answer questions, please feel free to contact our customer service team on 0757212530, we’re here to help.
AGOLD MIND LTD holds plenty of enough high quality gold for those that would love to preserve their wealth. History proves how gold has had a magnificent impact on the economy globally. Gold is the only investment that can preserve your wealth that’s why the rich who know about this secret do not want to reveal it to the public. The only way for you to prove this is the action of government and media misleading people that paper currencies are the only real wealth. I.e. once upon a time the US Federal Reserve Chairman Ben Bernanke said that gold is not money and central banks accumulate gold just as a tradition. Do you ever ask yourself why most countries like china, Thailand, Hong Kong, Portugal etc are buying more and more gold every year? Preservation of wealth is the only reason for gold purchase. Imagine if you acquired this gold at high quality and affordable prices. Just contact AGOLD MIND LTD on line via email.
Buy the world’s most precious metal and have your wealth preserved
Gold being a precious metal is a safe haven. Gold is the only metal in the whole world that every country uses to back up their currency. Gold being a precious metal to preserve your wealth is a store of value that cannot be compared to treasury bonds etc. if you really want to know of how much gold is a precious metal then you should buy gold the purest gold from AGOLD MIND LTD at affordable prices. The profits you will make in this exceptional trade with us will make you realize how long it took you to realize the truth about the precious metal.
Buy the purest gold at any quantity
Do you want to buy gold in large or small quantities? With AGOLD MIND LTD it doesn’t matter what quantity of gold you want. You are perfectly assured of profitability once you invest in our gold due to its affordable prices. AGOLD MINDhas handful and bulks ready for you to buy. Once you buy your gold from AGOLD MIND LTD it’s a hassle free because all documents and transportation of your documents is we who follow them up. Therefore it’s high time for all people in Europe to come and invest in our African pure gold ready to help you consolidate and generate more wealth. All you need is to contact us online right now and buy the most affordable African gold online below the market price.
If you are interested in purchasing gold, then you should get in contact with a credible gold dealer as soon as possible. You need to know as a customer that there are several forms of gold. You can buy gold in the form of coins, bullions, or jewellery. Your gold dealer can guide you in the best way about the different forms of gold and their characteristics.
How to get in contact with a gold dealer?
You can easily find gold dealers in various jewellery stores as well as online stores. Ask around in your neighbourhood in order to find a reliable gold dealer. To avoid any scams, we would recommend you to always contact several gold dealers before finalizing your purchase.
How can a gold dealer help you?
Gold dealers can help you out in several ways. They will help you in learning about the different forms of gold and how you can benefit from them. Moreover, they will provide you with a wide range of gold designs and quality, which will help you in comparing them with each other and deciding which one you are going to purchase finally. Furthermore, they can also guide you about what time it is better to purchase gold and what time it is ideal to sell it in order to gain profit. Therefore, gold dealers can be relied upon if you are interested in purchasing gold.
Benefits of getting in contact with a gold dealer
We believe that it is always better to get in touch with a reliable gold dealer so that you get only high-quality products. There are many gold dealers out there ready to offer their services to you. So, what are you waiting for? Get in contact with a gold dealer as soon as you can.
Importance of Licensed Gold Dealers:
There are numerous gold sellers and dealers in Africa but there are a very few that can be fully trusted. There are so many cases of fraud and corruption that it becomes very difficult for the buyers to choose the right gold sellers. If you are looking for the reliable gold sellers and wish to avoid getting caught up a gold scam, it is important that you look for a licensed gold seller. A licensed gold seller provides reliable services and guarantees a safe process, unlike the services offered by local gold dealers. In order to stay safe and buy the high quality gold, make sure that the company you choose is licensed. Choosing the licensed gold dealers will provide you with the following benefits;
1. Reasonable and Justified Rates:
The first benefit of choosing a good, licensed dealer in Africa is that you will get rates that are not very high but cent per cent reasonable. This is the best thing about good dealers like us, as we provide rates according to the budget and they are very justified.
2. Gold Quality:
By choosing a good gold dealer like us, you do not have to worry about quality. We offer the best quality of gold to our clients. We provide gold according to the price. We do not make fake promises to our clients to offer high-quality at a low price, we tell the right price for every quality. These are the most important things that people see when they are looking for a gold dealer. With us, you do not have to worry about the price or the quality. We provide the best services at the most amazing rates that will not disappoint our customers.
Invest in East African gold
Invest in cheap East African gold from the Democratic Republic of Congo
As you may have already known, there are many options you have available to buy physical gold in East Africa. You can buy it in the form of gold dust, gold bars or gold nuggets. On the other hand, it is true that, once you acquire gold, you should consider some other aspect such as, for example, storage costs. and that is when buying gold, you should know you have to avoid the risk of you misplacing it or having it stolen, so it is best to have it stored in a safe in a bank or in an institution that offers the service of custody. So, you see, the business of buying and selling gold is not cheap to be said. All that said, we still assert that buying gold from us is the cheapest way to boost your investment portfolio due to our most affordable prices.
Invest in cheap East African gold in any given quantity
Today gold is still a very popular material for the jewellery industry. Gold jewellery symbolises wealth and power. Due to the chemical properties, it is very much used in various industries such as electronics, optics and medicine. In the language, it is firmly rooted as a valuable member. This is expressed through metaphors such as “the black gold”, “love handles” and “to make a small fortune” from. Buy gold from us in all quantities. We have handfuls. You can also buy several kilogrammes up to 50 through us. you can contact us through Skype or the contact form below for more information.
Invest in cheap East African gold to preserve your wealth
To tell the truth, gold is a good way to preserve wealth and it can be passed on from one generation to the next. Nevertheless, the value of coins and bullion is determined almost exclusively by the price of gold, and thus follows the price of the gold bullion. If you would like to buy gold at the lowest rates ever, we have that metal here on sale. Contact us online now and we will avail you more details. Our gold is the purest, the most affordable and the most prized 24K gold from Africa. We have it here in all quantities mined from the rich Congo gold mines.
Sell gold bullion
Today, a person who possesses gold is undoubtedly one of the luckiest ones as he is expected to get maximum return from the gold investment. Gold is one of the most attractive and safest investment options amongst all other assets. Among all gold products, gold bullion is surely one of the best forms as it is said to maintain its worth for a longer duration and is therefore kept by the majority of private and government citizens alike. If you own gold bullion and want to sell gold bullion, it comprises of a whole procedure, and we can help you with it with the market-leading prices.
Get proper information to sell gold bullion
Both local dealers and online dealers are a great option when it comes to selling gold bullion. But you need to be well acknowledged of relevant information about selling gold bullion before making the decision. One of the critical aspects is that you need to be well aware of the current price of gold before you decide to sell gold bullion.
Popular gold bullions to sell
There are plenty of gold bullion products that can be sold for cash. Some of the most popular gold bullion forms include Gold American Eagles, Gold Buffalo coins, European Gold coins, Gram gold pieces, and gold bars, etc. Each form of gold bullion holds a significant value based on its fineness, weight, and quality, and hence each one will give you a particular return for money.
Find a trusted buyer
If you want to sell gold bullion, your utmost priority should be to find a reputable and trusted buyer. It would help if you found the trusted buyers for selling your precious metal, which doesn’t intimidate you in accepting a lower price for your gold bullion and provides you with the best possible prices. If you wish to sell your gold bullion at the best price, full attention to detail is required. We can assist you in selling your gold bullion at the best prices without compromising its standard worth. You can contact us to get detailed information regarding the procedure so that you can make a wise decision.
I want to buy gold
If all you can think about these days is that, “I want to buy gold,” then what are you waiting for? You should do exactly what is on your mind. However, if you are not sure where you should look for in order to buy gold, then you have arrived at the right place as we can help you with this. When you think about “I want to buy gold,” have you decided which form of gold you mean by it? As you must already know that gold can be bought in different forms such as coins, bullions, and jewellery, therefore if it is crucial to be sure about the form of gold that you are looking for before going around in search of it.
Best places to purchase gold
Many people have no idea where they should go first when they say that “I want to buy gold.” There are multiple online stores from where you can easily purchase gold in any form that you desire.
Why should you purchase gold online?
We think that purchasing gold online is way better than going out looking for it in different stores. You can buy cheap gold online by browsing through a wide range of options and compare them with each other.
Tips for purchasing gold online
You must be thinking about how risky it would be to purchase gold online for sure as there are high chances that you will get scammed by someone. Yes, there are online gold stores that are fake and would scam you, which is why it is incredibly important to be extra careful when making a purchase online. Always make sure to analyze every aspect of the deal, and don’t forget to check out the reviews section of the website.
Where to buy cheap gold?
The rates of gold keep getting high by each passing day, which makes it almost impossible for an ordinary person to afford to buy gold. However, if you are interested in purchasing gold and wondering where to buy cheap gold, then we can help you with this. You can look for cheap gold in various stores as well as on online shops.
Where to look for cheap gold?
Whether you want to purchase gold as an investment or security, or if you want to wear it on some event, but are not sure where to buy cheap gold from, then you have come to the right place. We believe that the best way to purchase cheap gold is by opening your laptop and browsing through various online gold stores instead of taking out time and going to the market. Buying gold online is a wise idea as you will be able to purchase gold at a relatively low rate.
How to buy cheap gold online?
If you are wondering about where to buy cheap gold, then we would recommend you to rely on online websites. You will be able to find many online gold stores that are selling gold at cheap rates which any ordinary person can afford. It is always better to purchase gold from online stores than from jewellery stores as they tend to keep the rates of their jewellery high since they will also be charging you for other things, including tax. However, when you purchase gold online, you won’t have to pay for any taxes or additional charges.
Is it safe to purchase cheap gold online?
Many people think that buying gold online is not safe; however, we are of the view that it is absolutely safe to purchase gold online. You will be able to browse through various designs and compare them with each other just by swiping across the screen.
We Offer the Best Advice
Our services are simply matchless because we offer gold bullion coins for sale and we are the one stop solution for those who want to buy gold bars from Mint. Gold is a precious metal and most of the people hesitate before investing in gold bullion. But we have the best people to give you the best advice. We are never tired of helping investors like you. This is what we do the best.
What Makes Us the Best
What makes us the best place to buy gold? There are many things which make us the best place to buy gold. For instance, we can meet the scope and scale of your investment. We facilitate small investors as well as big investors. People come to us because we have gold bars and gold coins of various sizes and worth available. You can hold $100,000 of gold bars or coins in your hand but you can’t do the same with any other investment. This is why people like the idea of investing in gold bullions as compared to other investment ideas. We have been helping people achieve their financial goals and needs and this is what makes us the best place to buy gold.
Things to Keep in Mind Before Buying Gold
There are a few things you need to keep in mind before selecting a place to buy gold bullion. Make sure that you buy gold coins and bars from a well-reputed dealer or financial institution. We are proud to tell you that we have earned a special name and place in the hearts and minds of our customers. The trust and love of our customers are bigger than any reward of the world.
Agold mindis a licensed Mineral mining and selling company based in Democratic Republic of Congo and with operational offices in Uganda. We specialize in buying and selling of gold,
Mission: Is to make profitable production of gold, diamonds and other minerals which we mine and also deal in.We strive to attain this as a company, societies and individuals.
How we do: With a vast number of mines located in the Democratic Republic of Congo, we use open pit and underground operations for mining.we are highly committed to safety, employee wellbeing and protection of the environment. Incase the need gold by the buyers is more than what we have in store we then go out to the other miners and mines for more gold
Why is our gold cheap
We don’t believe our gold is cheap at all 35000$ is not small money but according to the world wide price there is a 10000usd gap or profit the gold we sell at this price is brought to us by gold miners who want quick money out of there gold
A day we can recieve about 40-50 people who sell to us there gold
Why you should trade with us
Unlike other gold sellers we do our transactions according to how you feel convenient and nothing is done behind your back
We provide a transport service to all our buyers from the airport to the gold refinery of their choice
Security of our clients is the number on priority that’s why we offer the transportation and security will be available till the last transaction are made
Deep in pits hewn from the earth dozens of teenage boys slam their hammers into the rock. Other men pan the crushed ore by hand in tubs filled with water and mercury. Uganda does not have many gold mines and most, like this one in Busia, in the east of the country, are neither sophisticated nor especially productive. Yet this small east African nation exports a fantastic trove of the yellow metal.
Sales Tax on Bullion: U.S. State Rates and Why agoldmind.com Collects It
At Agoldmind, we’re firm believers that precious metals are the oldest and longest continually trusted form of money there is.
And if you were “buying” money — such as making a foreign exchange transaction between U.S. Dollars and Euros — you would not expect to pay sales tax on your purchase.
However, not all U.S. states see it this way. Many states require us to charge sales tax on bullion and other forms of precious metals delivered to those states. Orders into vault storage are not subject to state sales taxes. See below for details.
Background on Sales Tax Changes
Prior to 2019, few online bullion dealers charged sales tax, except when shipping to states where they were headquartered or had other operations. However, a 2018 U.S. Supreme Court decision, Wayfair v. South Dakota, paved the way for states to charge sales tax on ALL goods sold online and shipped to customers in that state.
While it’s little surprise to see Amazon, eBay, Walmart and others now collecting sales tax online, it may surprise some to see the same at GoldSilver.com.
However, in states where bullion sales are subject to sales tax and the state has decided to collect sales tax on shipped-in goods, we must now charge that tax to customers at the time of any delivery order to those states.
Who Is Affected?
Delivery Orders to U.S. States
GoldSilver.com currently collects sales tax on delivery orders shipped to the following states:
We do not charge sales tax or VAT on international delivery orders. However, this does not mean your order may not be subject to taxes or customs fees. All such charges on international shipments are the customer’s responsibility. See International Orders for more information.
Vault Storage Orders (Both Domestic and International Customers)
Similarly, if you sell your bullion from private vault storage, no sales tax will be collected.
However, if you take physical delivery of your bullion out of vault storage, sales tax may be required at the time of that delivery (based on then current value of the delivered bullion), at the same rates as the table above.
When Is Sales Tax Collected?
You’ll see sales tax as a separate line item during checkout once you select your shipping destination.
You’ll see exactly how much sales tax is being collected prior to completing your order. Sales taxes will also show up on your order confirmations, which can be used when taking a sales tax deduction from local or federal income taxes.
These new taxes apply only to bullion shipped to home addresses in the states listed below, although the list of states may change to keep up with changes in state tax laws. Bullion purchased for private vault storage will not be charged sales tax.
Questions? Email us or give us a call at +257757212530
Please keep in mind, everyone’s tax situation is unique and we cannot and do not offer individual tax advice.
State by State Sales Tax Policy
Note that actual sales tax rates are calculated at the time your order is placed. This table is for reference only and is subject to change as states adjust their rules. It covers the general rules that apply to each state and our product offerings; however, the table may not reflect additional local taxes based on your specific address within your state (as of 2014, there were 9,998 different sales tax jurisdictions in the United States, each with its own rules).
Date GoldSilver.com Began Collecting Sales Tax
Categories of Taxed Items and Other Rules
October 1, 2019
October 4, 2019
Gold and/or silver coins, rounds and bars under $1,500 total per transaction. All jewelry and other goods.
Estimated shipping times vary by product, and are located on all product pages. Your order will ship out after your payment clears. How fast you receive your order depends on which payment method you choose:
Payment Clears in:
Credit and Debit Cards
1 business day
1 business day
up to 24 hours
1 day from when we receive the wire (US only – international may be subject to a few days additional delays)
5 business days + time it takes to reach us in the mail
International customers can expect longer shipping times as these orders must clear customs. It all depends on your country’s import rules, but typically international customers receive their orders 6-8 business days after payment clears.
You will receive tracking information for your packages via email once your order ships. If your order contains multiple products or large quantities, you may receive multiple parcels and tracking numbers.
agoldmind.com offers convenient global delivery for gold, silver, and other precious metals, in addition to vault storage options around the world. We ship all packages fully insured, with tracking and adult signature required.
Shipments are normally sent out within 1-2 business days after your payment clears:
Prepaid account balances with funds available for trading clear immediately
Bank wire payments clear the day they are received at our bank; for fastest service, send a wire transfer immediately after your order, online or from your bank branch (we cannot accept ACH, direct deposit, or Zelle payments at this time)
Credit/debit card, PayPal, Venmo, and cryptocurrency payments typically clear the next business day after an order is placed
Paper checks are held for up to 10 business days from the time we receive them for clearing; please note that at any time during this hold period, your bank may show the funds withdrawn from your account, even while we await them to clear
Occasionally, banks and payment processors may delay settlement up to 2 days for fraud investigation.
If using a credit or debit card, your card will not be charged until that investigation completes, but an authorization hold may be placed in the meantime.
Final shipping costs will be calculated automatically at checkout, prior to completing your order.
NOTE: Customs duties are the customer’s responsibility.
All customs duties, taxes, or additional fees associated with importing items purchased from GoldSilver.com into countries outside of the United States are solely the responsibility of the purchaser. They are not automatically assessed/included with your shipment and are due directly to your local government at the time of delivery. Please check your local regulations before placing a delivery order.
Avoid Customs Fees With Vault Storage
Many international customers avoid customs fees and duties altogether by having their precious metals secured via our third-party vault storage. Metals stored in our vault network are always just a few clicks away from opting to take delivery of their physical metals at any time in the future. Locking in a sellback price on vault storage holdings is easy, and can be done online or with a quick phone call.
GoldSilver’s easy-to-use integrated storage provides you with all the security and peace of mind of owning physical precious metals along with the convenience of electronic trading.
When you buy bars and coins, they’ll be immediately stored in your name in a guarded, private vault provided by the leading names in security. Add to your holdings online with a few clicks or a quick phone call. Sell, transfer, or take delivery of your metals any time.
Rest easy with third-party vaulting, total value insurance, and auditing.
Buying gold and silver bullion online is safe, convenient, and can be done 24/7. Buying online allows you to browse our entire selection of products, compare prices and premiums, and order when you want. GoldSilver has been one of the internet’s most trusted bullion dealers since 2005 and has shipped to nearly every country on Earth.Gold Bars, Coins, and Jewelry
At GoldSilver, we pride ourselves on offering clients the most trusted and liquid bullion products on the market. We carry gold coins, gold bars, and gold jewelry from only the most reputable mints. Some of our best-selling gold products include the 1 oz American Gold Eagle Coins, 1 oz Canadian Gold Maple Leaf Coins, and the 10 oz Credit Suisse Gold Bars.
Our catalog of silver bullion represents the most investor-friendly selection of silver coins, silver bars, and silver rounds on the market. We offer classic silver coins like American Silver Eagles and Canadian Silver Maple Leafs. Plus, a wide selection of private mint rounds at low prices. We also produce an exclusive collection of silver rounds, the Modern Ancients. These customer favorites are an excellent way to diversify your portfolio and invest in 99.9% pure silver bullion at premiums well below most popular government-minted coins.
Many investors choose to purchase physical gold and silver as protection against inflation (the loss of value of a currency, or why a candy bar is no longer a penny, a nickel, or a quarter). Others, for insurance against a future stock market crisis, or just to diversify their portfolio. All valid reasons to invest in gold and silver, but not the only ones.
Gold and silver are not just safe havens. They also have immense potential to increase in value as speculative assets. In today’s global financial reality of high personal, business and national debts, we believe especially so.
Backed by nothing but debt, all “fiat” currencies in history not still in circulation have eventually ended with no value. Often in rapid and spectacular declines that have sent precious metals prices spiraling up in response. Since 1971, all the world’s currencies are now fiat—not one is backed by precious metals any longer, ending millennia of tradition. Not only that, but we’ve also observed that throughout history the world forms a new monetary system every 30-40 years, meaning we’re overdue for a change. All of these factors combined lead us to sleep better owning gold and silver.
Many U.S. investors choose to purchase precious metals in Individual Retirement Accounts (IRA), because of their tax-free or tax-deferred status. Using a simple “self-directed” IRA, you can invest in true physical gold and silver and still enjoy these tax benefits.
When shopping for your IRA, simply look for products labeled as “IRA Approved” on our product detail pages. These products are certified to meet the IRS’s simple but important criteria for precious metals investments allowed in an IRA.
Before you purchase, make sure you’ve notified your custodian to authorize GoldSilver.com as a trading partner. Once that’s done, you just place your order and specify your IRA as your source of funds at checkout. We’ll take care of the rest, including working with your custodian to transfer funds and title to the metals.
Unlike many other online bullion dealers who market and sell thousands of items, GoldSilver carefully curates a catalog of bullion products that we believe represent the best opportunities for discerning investors.
We offer products from the following government (sovereign) mints:
Royal Canadian Mint
South African Mint
UK Royal Mint
New Zealand Mint
People’s Republic of China
As well as the following private mints:
Republic Metals Corporation (RMC)
Secure Vault Storage for Your Precious Metals
There is no safer way to store your precious metals than professional vault storage. Home storage risks your safety as well as your investments. Find peace of mind with 24/7 security, at the world’s most secure, private, non-bank vaults. We’ve partnered with Brinks to offer secure storage vaults nearby and around the world, including:
Salt Lake City, USA
Investments in storage can be sold with a few clicks, and funds available to trade again quickly.
If you’re buying precious metals online, you may want to consider using your cryptocurrency to execute the transaction. These increasingly popular services, such as Bitcoin, Ethereum, and LiteCoin, offer a convenient way to exchange digital payments, among many other advantages over traditional currencies and payment systems.
We offer our investors the option of using these assets to purchase physical gold and silver, via Bitcoin. If you have another coin, many exchanges and other services, such as Coinbase or ShapeShift can first allow you transfer into Bitcoin prior to making your purchase.
The price of gold and silver fluctuate constantly in the markets. This can make pricing somewhat challenging for many dealers. But we’ve created a strategy that updates the prices of our products in real time in accordance with the relevant spot price at the time of purchase. We also have a price match guarantee to match the advertised price of any of our products on the sites of our top competitors.
To learn more about how you can always get the best price from GoldSilver, read about our price match guarantee.Simple Online Selling
GoldSilver will buy back most bullion products, whether you bought them from us or elsewhere, with competitive prices and an easy-to-use online sales portal — by mail or from storage. If you decide to sell some of your precious metals holdings, you have a ready buyer on standby.
At GoldSilver, we pride ourselves on offering investors a world-class education, an investor-friendly product catalog, and a uniquely secure and flexible storage program.
Our educational videos have generated tens of millions of views on YouTube. Our founder, Mike Maloney, is the best-selling author of Guide to Investing in Gold & Silver, the most popular book ever on precious metals investing.
Our catalog is focused on physical precious metals products with the most competitive premiums, as we believe those products allow investors to get maximum exposure to gold & silver and increase potential profits by saving on costs.
And our unique storage program offers allocated and segregated storage options, at your choice of global vaults, with rapid liquidity.
Together, we believe these features offer an unmatched experience for precious metals investors.
But, don’t take our word for it. See what our investors are saying about u
Gold and silver are one of history’s oldest forms of money. Empires, industries, and personal fortunes have been built on bullion for millennia. Today, gold and silver are prized as safe haven investments, hedges against uncertainty. Buying online is quick, easy, and straightforward. GoldSilver offers the world’s most popular bullion products available for home delivery or storing around the world in secure, private vaults.
GoldSilver Vault Storage gives you all the advantages of owning physical precious metals with the convenience of being a click away. Sign in, buy bars and coins, and they’re held in your name in a guarded, private vault. Managing your metals online is easy. You can transfer, sell, or take delivery of your metals any time.
US and overseas vault options, all outside the banking system
Class 3 vaults with 24/7 surveillance and armed guards
Fully insured with regular, independent audits
Take Direct Ownership of Physical Bullion
Total control of whole bars and coins
You are designated as sole owner
Buy, sell, transfer, or take delivery
100% Wholly Owned Metals
Choose from individual, joint, trust, or LLC accounts.
You, and those you designate, are the sole owner of your metals and will receive statements documenting your holdings. Our US-based operations and support team are here to help with any questions or requests.
Manage Your Metals Online
Sign in and invest, like in a brokerage account, from any device
Transactions and requests process rapidly
Monitor your portfolio in real-time
All transactions are easily handled through our website on your schedule.
Buy whenever you want, transfer to a different vault, sell and quickly convert your metals to cash, or request home delivery. There are no hoops to jump through, just your metals where you want them and when you need them.
Of course, we’re happy to help you over the phone at 888-319-8166 during regular business hours too.
How It Works (Hint: Simple)
Easy Access: Purchase Online or Over the Phone
Buy online: all of our bullion products are eligible for storage.* Just select vault storage at checkout and pick a location. It’s that easy to get started.
Or give us a call: one of our agents will help to place your order over the phone.
You can purchase with a check, bank wire, credit or debit card. PayPal, Bitcoin… or deposit a balance with us for quick trading when you are ready.
100% Allocated Metal, Deposited and Securely Stored in Your Name
What you buy is what you store. As soon as you order a whole bar or coin, the physical metals are purchased and immediately shipped to the vault for storage in your name, including individual, joint, trust, or LLC/corporation title if needed.
Our US-based operations and customer support team are here to help you if you need it.
Sell or Take Delivery, Without Delay
Because your metals are always in the vault, you can place an order to sell or transfer them – to your home, another vault, or virtually anywhere in the world – with zero hassle. Your metals, where you want them, when you need them.
Sell easily, for the best price: Every product you own in storage is also available to sell with just a few clicks or a call. We bid out every transaction, buy or sell, to a network of wholesale dealers, mints, and refineries to find the best price for you in real time. If you find a better buyback price elsewhere, we’ll match it. Proceeds available via check, wire, or simply deposit them back into your account for when you’re ready to buy back in.
Delivery at the ready: Your bars and coins are ready to ship at all times. There are no ‘fabrication’ fees, and because we store metals right when you order there’s no liquidity risk or delays if you withdraw during a peak period. Your metals will always be waiting for you. Just tell us where to send them (and pay standard shipping costs).
Open an Account
Try or stop any time; no long-term commitment required
Pay only for as long as you store your metals with us
Keep or cancel anytime, like a subscription to Netflix
When you use GoldSilver private vault storage, all you pay is one simple monthly fee based on the size and value of your assets. This covers everything: security by the best in the business, delivery of metals around the world, full insurance coverage, independent audits, and online management. No withdrawal fees, no fine print.
If you request home delivery of your metals, you only pay normal shipping and handling. That’s it.
Try or stop any time; no long-term commitment required
Hundreds of bullion products to own and hold
Fast sellbacks and unlimited transactions
Our private vault storage makes it as easy as possible for you to accumulate and hold physical precious metals. And just as easy to stop by taking possession or selling them if you need to.
Try it out. There are no contracts or terms of any kind. And if you’re not happy for any reason, we’ll ship you your metals.
Just log into your account and request home delivery. It’s that easy.
You can also sell metals or liquidate your entire account for cash if you choose, a handy option under the right market conditions.
Secure Vault Locations Available Around the World
Vault-to-vault transfers give you the flexibility to securely move your metals around the world whenever you like. When you diversify internationally, you get the same low rate, great service, and online convenience.
Every ounce you store is insured for market replacement value. Verified audits are performed by leading independent commodities inspectors.
All vaults are outside of the banking system and managed by the best names in security.
GoldSilver only uses Class 3 vaults, the highest rating in the industry. A Class 3 vault is so strong it can endure 120 continuous minutes of torch or tool attack. That’s a lifetime when you consider armed guards, video monitoring, and alarm systems are also in place.
Compared to the cost of storing metals at home, GoldSilver Vault Storage is a bargain. Homeowners insurance typically costs 2% of metal value, and may not cover full replacement value when prices rise (and some policies may only cover face value of coins). Plus, store-at-home investors may need a large, heavy safe and an expensive alarm system to protect their assets.
Private vault storage is simply the easiest and most secure way to invest in physical precious metals.
Gold vs. Silver: The 5 Differences That Matter Most to Investors
agoldmind, Senior Analyst, GoldSilver
You’d like to buy some precious metals, but do you buy silver or gold? Is there really much difference between them other than the price?
Both are “precious” metals, meaning their occurrence in the earth’s crust is rare. But when it comes to investing in gold vs. silver, there are five important distinctions to be aware of. These differences can supercharge your portfolio—or make it a victim.
This article outlines the five differences to know about gold vs. silver, with special emphasis on investment implications…
Difference #1: The Silver Price is More Volatile
The total supply of new silver each year is close to 1 billion ounces. Annual gold supply is currently around 120 million ounces.
This makes it seem like the silver market is 8 times bigger than gold. But just the opposite is true, because of the huge difference in their price. Silver’s lower price makes the value of annual supply much smaller than gold’s.
At current prices, annual gold supply is 12 times bigger than silver.
Silver isn’t just smaller than gold. Look how it compares to the market cap of some popular stocks.
Each of these individual companies has a higher valuation than the entire annual supply of silver! Disney is over 15 times bigger. Apple is over 56 times larger.
This explains why silver is more volatile than gold:It takes only a relatively small amount of money to have a greater impact on its price, more than gold or most any other asset class.
As a result, silver will rise more than gold on up days, and fall more than gold on down days. There are exceptions, of course, but that’s what happens most of the time. This leads to our first…
Investor Implication: You must be emotionally prepared for silver’s higher volatility.
It won’t do any good to buy the metal if you’ll panic and sell at the first big drop.
In fact, as an investor, this volatility can be your friend. Historically, silver has fallen more than gold in bear markets, but risen more than gold in bull markets.
Here are some examples of how gold and silver performed during some of the biggest bull and bear markets in modern history:
GAIN from 1970 low to 1980 high
FALL from 1980 high to 1985 low
GAIN from 2008 low to 2011 high
FALL from 2011 high to 2016 low
You can easily see that on a percentage basis, silver rises much more than gold in bull markets, and falls much farther than gold in bear markets.
So as an investor, if you buy during a bull market, history says silver will hand you a greater return than gold. Probably by a LOT. And if you believe, like me, precious metals are beginning a new bull market…
Investor Implication: Silver’s greater volatility means it will better perform than gold in the upcoming bull market.
The higher volatility also means that you’ll have to be more nimble when it comes time to sell. Silver will selloff faster and farther than gold, so when the bull market looks to be peaking, be sure to sell!
If you’re comfortable with the higher volatility, and buy near the beginning of a bull market, purchasing silver is like adding an extra shot of espresso to your portfolio.
Difference #2: Silver is More Affordable
This seems like an obvious statement, but the reason it’s important is because silver has many similarities with gold…
If you buy physical silver—not ETFs, certificates or futures contracts, which are paper investments—you can capture the same benefits that gold offers. Advantages that virtually no other asset provides.
Like gold, physical silver…
Is a hard asset. Of all the investments you own, how many can you hold in your hand? In a world of paper profits, digital trading, and currency creation, physical silver is a tangible asset that can’t be hacked (something your stock broker constantly guards against).
Is money, just like gold. It can’t be created out of thin air (and thus depreciated) like paper currency or digital entries. Look through monetary history and you’ll find that silver has been used in coinage more often than gold.
Has no counterparty risk. If you hold physical silver, you don’t need another party to make good on a contract or promise.
Has never been defaulted on. If you own physical silver, you have no default risk. Not so for almost any other investment you make.
Silver’s advantage over gold is that you can capture all these same benefits but at a much lower cost. Your financial insurance just got more affordable. It’s why silver is called the “poor man’s gold.”
Investor Implication: Silver is much more affordable for the average investor.
You can buy small denominations of gold coins and bars (from half ounce all the way down to one-twentieth of an ounce in some cases), but premiums spike for products less than one ounce. That’s because it costs the refiner just as much to produce a tenth ounce coin, for example, as a one ounce coin.
There’s another advantage to silver’s lower price: Selling…
Maybe someday you don’t want to sell a full ounce of gold to meet a small financial need. Enter silver. If you want to buy a car or any other large purchase, you’d use your gold proceeds. But if you just want groceries or a new cell phone, you can sell some silver to cover the cost of those items at the time, without being forced to liquidate your gold.
I think every investor should have some silver around for this very reason.
Investor Implication: Silver will be more practical than gold for everyday small purchases.
Last, silver’s greater affordability makes it more ideal for gifting. Want to give some precious metals as a gift? Silver just made it more affordable to do so.
So, silver is ideal for investors with small budgets, and also for any small financial needs that may come up in the future. Gold is better suited for larger purchases.
Difference #3: Silver Requires Much More Storage Space
All those affordability advantages we just outlined come with a catch: it takes a LOT more space to store silver than gold.
At current prices, the same dollar investment will get you roughly 80 more ounces of silver than gold. On top of that, most silver is a lot less dense than gold—pure silver is 84% larger in volume than pure gold. This means silver takes up as much as 128 times more space than gold for the same dollar value!
Here are some practical examples of that difference. At current prices…
You can hold $50,000 worth of gold in one hand—but it would take about 10 large shoe boxes to hold the same dollar amount of silver.
$50,000 worth of gold weighs about 2.6 pounds—but the same value of silver weighs about 189 pounds!
You can store roughly $170,000 of gold in a small safe deposit box, but that same space will only hold about $2,300 of silver.
It’s relatively easy to hide some gold coins in a sock drawer or cookie jar, but those same hiding places are impractical for the same investment in silver. Whether you buy coins or bars, you’ll need a lot more space to store silver than gold.
This difference applies to transporting physical silver as well: it may be more difficult, expensive, and cumbersome.
Last, silver will eventually tarnish; pure gold does not. So silver coins and bars must be stored in a dry place with no exposure to the elements, a concern you don’t have with gold.
Investor Implication: Gold takes up much less storage space than silver, is cheaper to store, is lighter and less cumbersome to transport, and doesn’t tarnish.
It takes a little more strategizing on your part to store silver than gold. But there are definitely ways to do it, as this article shows.
Difference #4: Silver Has Higher Industrial Use
About 12% of gold supply goes to industrial uses. But due to silver’s unique characteristics, a whopping 56% of its supply is used in industry. Silver has so many applications that believe it or not, you don’t go one day without using a product that contains it.
From electronics and medical applications, to batteries and solar panels, silver is everywhere, whether you see it or not.
As Mike Maloney says in his book, “Of all the elements, silver is the indispensable metal. It is the most electronically conducive, thermally conductive, and reflective. Modern life, as we know it, would not exist without silver.”
Why is this important? Because the state of the global economy can have a greater impact on silver demand than gold. Silver is thus more susceptible to economic booms and busts.
Investor Implication: Demand for industrial uses of silver is high in a strong economy, and weaker in a recession or deflation.
But that’s only part of the story… unlike gold, most industrial silver is consumed and then thrown away (and in some cases destroyed during the fabrication process). It’s just not economic to recover every tiny flake or grain of silver from most products. As a result, when the product gets discarded, that silver is gone for good. This limits the amount of silver that can return to the market through recycling.
Investor Implication: Unlike gold, millions of ounces of silver are lost every year. New supply must keep up in order to meet demand.
But won’t the silver price fall in a recession or any serious economic slowdown?
Fair question. Let’s take a quick look at a one of the worst economic periods in modern history and see what happened…
It’s hard to imagine a worse economic environment than the 1970s, especially the second half of that decade: two recessions, a 14% inflation rate, high unemployment, an energy crisis, the Russian invasion of Afghanistan, and ongoing cold war tensions. As for silver itself, industrial demand fell, and global supply rose. Does this sound like an environment where the silver price would rise?
Not at all. But it did:
The reason the silver price rose so much was actually because of those issues. Investors bought silver to help shield their portfolios from all the turmoil at the time. And on top of it they earned a stunning return on their investment.
Investor Implication: During a monetary or financial crisis, silver’s role as money has historically had more impact on its price than its role in industry.
The one economic situation where silver may not do well, at least initially, is a deflationary depression. Something like the Great Depression. However, keep in mind that in dire circumstances such as that, governments and central bankers are likely to institute highly inflationary policies to keep the economy afloat—the very policies that would serve as a launching pad for silver due to its safe haven status.
Difference #5: Silver Stockpiles are Falling, Gold’s are Rising
This difference may not seem to have immediate importance to an investor, but it’s a behind-the-scenes development that could potentially have big consequences in certain circumstances.
Governments and other institutions used to hold large inventories of silver. Today, however, most of them no longer have stockpiles of the metal. In fact, the only countries that warehouse silver are the US, India, and Mexico.
Look what’s happened to those inventories since 1970.
The primary reason governments don’t hold a lot of silver is because it’s no longer used in coinage. But as we outlined above, silver is used in industry to a much greater degree now… so if future industrial needs rise, or the supply chain were interrupted, governments will be ill-equipped to support those needs.
In contrast, central banks hold over 34,000 tonnes (1.09 billion ounces) of gold in official Reserves. And on a net basis, they continue buying every year. These ongoing purchases contribute to the overall demand for the metal.
This source of demand isn’t present for silver. However, it does put the silver market in a precarious position. If the need for physical silver were to suddenly increase—a monetary crisis, a shortage in industrial supply, a spike in investment demand—governments won’t be able to meet these needs with such tiny stockpiles.
If governments started to buy silver for any reason, it would have a huge impact on the market—demand would spike, and the price would skyrocket.
This scenario may or may not play out, but it’s a delicate position that could have a deep and immediate impact on the silver market.