What is ask price?
Ask price is a dealer’s selling price for gold bars or coins.
What is bid?
Bid is a dealer’s buy back price for gold bars or coins.
What is gold spot price?
Spot price is the amount quoted for immediate delivery of gold. It is based on the gold futures market and is the current price paid.
Is gold a low risk investment?
All investments have risks, including precious metals. Prices for gold and silver are speculative and unregulated. The prices may rise or fall, as with anything. Anyone investing in gold should be well informed and/or should should consult with a financial advisor.
How many grams are in a troy ounce?
There are 31.1034768 grams in a Troy Ounce.
Can I put gold bars in my IRA?
Yes. You will need a custodian or qualified third party, such as a bank, to physically hold the gold bullion bars in your name. Some qualified depositories will do IRA storage of physical metals for you. Setup fees and annual storage fees may be charged, depending on the depository.
What is Gold?
Gold is a soft, bright yellow metal, and is easier to work than most other metals. It was probably the first metal ever worked by man. The symbol AU comes from Aurum, the Latin word for gold. its atomic number is 79 and its atomic weight is 196.967. It is one of the heaviest elements. A cubic foot of gold weighs 1,206 pounds. Gold has a specific gravity of 19.32, making it 19.32 times as heavy as water.
Why is Gold Valuable?
Gold has been desired and sought after all through history. Unlike other metals, Gold does not corrode or tarnish in the air, so retains its shine indefinitely. It is durable and the most ductile and malleable element known. It alloys easily with other metals, making it ideal for jewelry making. The rarity of gold also adds to its value. Gold is also inflation-proof. Inflation is not the price of things going up, rather the value of the Dollar going down. With all of these factors in mind, it is clear why people would want to buy gold.
What to Look For in Gold Bars
Gold bullion bars are gaining popularity due to their low premiums over spot price. This has remained stable, even as gold coin premiums have risen. Gold bars are sold all over the world, but all share common characteristics. Each bar will have stamped on it the fineness “purity”, the weight and a unique serial number. 99.99% or .9999 “four nines” is the fineness a gold bar should be. The weight and serial number will also be noted on the assay card accomanying the bar. The assay certificate guarantees the purity and weight of the gold bar.
Why Buy Gold?
While there are other precious metals to invest in, silver for one, gold has been the leader. Gold has stood the test of time, and unlike paper currency, gold cannot be printed by governments. Being rare gives it its itrinsic value. As long as inflation continues to rise, buying gold will be one of the best ways to protect your assests. When it comes to investing and protecting your assets, you could say that gold is AU(some).