The Business of Gold

Gold Investing Strategies

The Business of Gold

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Most of the time, the gold we see from people and in our own collections already what you can call "refined" gold. You either see them as bars, jewelries or even in furniture form for those who love to decorate their homes with gold.

Gold comes from gold mines all around the world. They produced the rough, raw gold, which are called dore bars in the industry. They are not yet suitable for commercial usage since rough gold only contain about 80% pure gold.

These rough gold are then sent to a refinery. There, they create gold in different form and different purity, based on the need of their customers. Most of the time, gold refineries simply turn their rough golds in gold bars.

Creating gold bars may sound an easy task for refiners once they got a hold of tons of rough golds. But it isn't. Not all refineries can create gold bars, even if you have the proper facilities, not unless you get approval from the London Bullion Market Association, LBMA, the authority for gold standard.

And as a standard, the LBMA has set that gold bars created by certified refiners must at least contain 99.5 percent pure gold, weighs between 350 to 430 ounces and is stamped with the seal of the refiner, the rate of fineness of the gold accompanied by a unique serial number.

Most gold bars weigh an average of 400 ounces. Gold bars are then gold banks, or the bullion banks, where they are stored until consumers buy gold bars from them. Typical customers include other bullion banks, jewellers, gold investors and other people or entities who do business with gold.

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Tags: • investors • bullion • london • mines • gold investors • bullion banks • gold standard • gold bars • pure gold • gold mines • london bullion market •

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