FAQ’S

A gold bar also often referred to as gold ingot is the amount of refined metallic gold of any shape which is made by a bar producer meeting standard conditions of manufacture, record keeping and labeling. The ingots are bigger gold bars and they are produced by pouring the molten metal into molds.

The smaller gold bars usually come as a result of minting/stamping from appropriately rolled gold sheets. Normally, the standard gold bars kept as gold reserves by central banks and later traded among bullion dealers come in quantities of up to 400 troy ounce.

There are quite a good number of uses one can derive from gold bars and include;

1. Commercial finance instrument – big organizations at times add gold bars to their finance portfolios. They can use this to help them borrow at a lower rate.
2. Personal asset – gold by itself is an attractive mineral and comes with some worthiness. Currently, the gold bars are used to achieve financial security.
3. Currency reservation – unlike the past, currently, gold is used as a reserve currency for international trade and also to help stabilize currency value.

Gold bars come in different sizes or weights. They range from 1 oz, 250g, 100g, 500g, 10 oz, 100 oz, 1kg and 400 oz. The world’s biggest gold bar was recorded at 250kg and measured up to 455mm x 225mm.

In general, the price of gold keeps fluctuating and to better understand its value, a number of factors come to play. These include the gold content, gold spot price, investor demand, and weight of gold bar, etc.

The value of a gold bar is can be calculated by simply multiplying the current gold spot price by the weight of the pure gold content.

A gold nugget is a naturally existing piece of native gold usually formed as a result of erosion. They have gold composition of about 75-97% and what remains can be silver deposits and some quartz. The gold nugget becomes whiter in color when the silver content is greater.

Nuggets can easily be recovered by placer mining. But they usually can also be found in residual deposits where gold-bearing veins/lodes are weathered. The nuggets also exist in the tailings piles of the previous mining operation that are left by gold mining dredges.

Gold nuggets purity does vary ranging from 70 percent to 95 percent. The average nugget is 90 percent pure and this is 22k. Take note that nuggets entirely aren’t pure 100% considering the way they form. During formation, they get mixed with other precious metals such as nickel, silver and copper.

Gold bars come with enormous benefits making them a good investment venture. They play a great role during times of financial uncertainty by providing a sense of financial security which you may not realize from other investments. Usually, the value of gold significantly increases during times of economic uncertainty.