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Gold Biscuit Investment – Important tips

By: GOLDCeylon on August 29, 2022 / comment : 0

 

👉 Gold Biscuit Investment  – Important tips  👇



  • Available weight options for buying gold bars:

    Gold bars come in weights starting from as little as 0.5g and go up to 1 kg, with 5g, 8g and 10g bars being popular choices with most people. It is essential to weigh factors such as your budget, investment and liquidity goals before you make your decision. Bars of a higher weight are cheaper to purchase, but lighter ones are easier to liquidate on short notice.

  • Lower making charges and premium involved in gold bar investments:                       It makes sense to invest in a gold bar because bars come with a lower premium attached to them. The premium you pay usually includes making charges and sometimes also includes transportation and refining costs. Since gold bars are much larger in size, economies of scale come into play, ensuring that you get your money’s worth.

  • Purity of the gold bar:

    Purity is of key importance if you are purchasing gold bars for investment purposes. Make sure that you buy bars that are hallmarked or LBMA certified. This ensures that you are getting your money’s worth, and places you in a better position when you are looking to sell your gold bar. Also, you must insist on a purity certificate at the time of purchase.

  • Storing gold bars:

    Since gold bars have a higher worth as compared to coins, and aren’t possible to liquidate immediately, they are difficult to store at home, making alternatives such as lockers a safer option. However, if you wish to store them in a locker at home or the bank and don’t have one already, factor in an additional cost for the same.

  • Where to buy gold bar:

    Just like with gold coins, it is worth your time and money to visit a few reliable retailers before you make your purchase to ensure that you’re paying the least amount of premium possible. This is all the more important with gold bars because the amount you invest is significantly higher and even a difference of 1–2% can translate into substantial savings for you.

What makes gold biscuit a good investment option?

Gold bars are a lucrative idea for those who have money to invest and are looking to invest in a form that not only offers long term benefits but is also easy to liquidate. The highlights of investing in a gold bar are:

  • Negligible making charges.
  • You can invest in gold bars for your family’s financial security, with the intention of eventually converting bars into jewellery or liquidating them when an emergency arises.
  • If you are looking for a long term investment and want to put it in physical gold then gold bars are a suitable tool.
  • Easy to liquidate and straightforward to sell which makes gold bars very accessible to all kinds of investors.
  • Remember that lower ticket sizes may be easier to sell while a larger ticket size assures minimum wastage – depending on your investment goal, you can make a decision.
  • GOLDCeylon - GOLD News E-Magazine

GOLD PRICE UPDATE - COLOMBO SRI LANKA

By: GOLDCeylon on August 23, 2022 / comment : 0

GOLD PRICES NO CHANGE IN SRI LANKA DESPITE DROP IN INTERNATIONAL MARKET


Colombo GOLDCeylon : Amid a drop of $ 40 per ounce in the world market, the gold prices in Colombo on Tuesday recorded an LKR 180500/= per pound, GOLDCeylon News reported.

According to the Kitco News , per tola price of the precious yellow metal decreased  to USD 1746.

Meanwhile, the US dollar on Tuesday 360 LKR  against rupee.

The price of gold never stays in the same range. Although there are some downsides in the short term, prices go up in the long run.

The geopolitical tension, coupled with the likely slowdown in the global economy and high inflation, can lead to major spike in gold prices.

In South Asian countries, gold has become an essential element of jewelry and investment. The use of gold has increased significantly, especially in India as well as in Sri Lanka.

In Sri Lanka, Gold price decides,
1.  World Gold Price
2.  US Dollar Exchange Rates
3  Available Stock of GOLD in Colombo Gold Markert (Colombo 11- Sea Street -Hettiweediya)

GOLDCeylon is an E Magazine. This is a brand that educates about gold. Activated via Youtube / Blog / Facebook / Linkdin. Get up and share your knowledge.

Indika Bandara

 *Affiliate Member -The American Society of Appraisers
* Proprietor GOLDCeylon E Magazine

What are Jewellery Hallmarks

By: GOLDCeylon on August 22, 2022 / comment : 0

 

What are Jewellery Hallmarks



Hallmarking is the only government-approved method of testing the purity of gold and stamping it with a ‘gold hallmark’ as per the standards set by the SLAO (Sri Lanka Assay Office) under the National Gem and Jewellery Authority.

How do I know if my gold jewellery is hallmarked?

You will find a hallmark that consists of these 3 symbols on every piece of gold jewellery/gold.

The symbol for purity would differ depending on the karatage of your gold. For 22-karat gold, the symbol is 916. For 18-karat gold, it is 750, and for 14-karat gold it is 585. While 24-karat is the purest form of gold, it is too soft and malleable to use for making jewellery.

SLAO Hallmark comprises of following compulsory symbols.

1.   Assay Office Mark/ Country Mark (PUNKALASA) – 

2.   Mark to indicate metal type (LAMP/ PAHANA) – 

3.   Fineness (Purity) mark  – 

 

 


What are the benefits of hallmarking gold?

  • Protects Consumer as well as safeguard the jewellery industry from unethical practices/ competions.
  • Support to Maintain Sri Lankan jewellery standards in par with International Standards.
  • Minimize frauds (Under Karating) during Jewellery manufacturing trading and pawning etc.
  • Important tool to promote our jewellery in competitive international markets.
  • Essential system for Sri Lanka to be a full member of the Hallmarking Convention.
  • Where Sri Lanka Assay Office will be empowered by the convention to use world recognized “Convention Hallmark” which is a definite value addition for our jewellery exports. As well as eradicate
  • Cross border settings “At present 22 countries enjoy full membership of the convention, whereas Sri Lanka, Italy and Ukraine are categorized as “observe members”.
  • Revenue Generation.

Hallmarked gold can help you prove the purity of the gold you own as you are given a certificate of purity. On your part, you must ask your jeweller for their hallmarking certificate, and for a magnifying glass so you can check the 3 symbols of a gold hallmark. You must also ask for a bill that usually records every minute detail of the gold purchase, including making charges, wastage charges, and date of purchase, quantity of gold, purity of gold, taxes, and the day’s price of gold.

Will hallmarking make gold more expensive?

Absolutely not!  If you are buying gold to benefit from its aesthetic, cultural, or economic value, make sure you ask hallmark and get exactly what you are paying for!

GOLDCeylon - GOLD News E Magazine

Top things about Gold Bar Investment with LMBA Certified.

By: GOLDCeylon on August 16, 2022 / comment : 0

 

Important things to know about Gold Bar Investment

Lower making charges and premium involved in gold bar investments:

It makes sense to invest in a gold bar because bars come with a lower premium attached to them. The premium you pay usually includes making charges and sometimes also includes transportation and refining costs. Since gold bars are much larger in size, economies of scale come into play, ensuring that you get your money’s worth.

Available weight options for buying gold bars:

Gold bars come in weights starting from as little as 0.5g and go up to 1 kg, with 5g, 8g 10g, 116.63g ( Ten Tola), 11.63g (One Tola), 100g  bars being popular choices with most people. But in Sri Lanka Ten tola Suisse  is the most popular to us. It is essential to weigh factors such as your budget, investment and liquidity goals before you make your decision. Bars of a higher weight are cheaper to purchase, but lighter ones are easier to liquidate on short notice.

Purity of the gold bar:

Purity is of key importance if you are purchasing gold bars for investment purposes. Make sure that you buy bars that are hallmarked or LBMA certified. This ensures that you are getting your money’s worth, and places you in a better position when you are looking to sell your gold bar. Also, you must insist on a purity certificate at the time of purchase.

Storing gold bars:

Since gold bars have a higher worth as compared to coins, and aren’t possible to liquidate immediately, they are difficult to store at home, making alternatives such as lockers a safer option. However, if you wish to store them in a locker at home or the bank and don’t have one already, factor in an additional cost for the same.

Where to buy gold bar:

Just like with gold coin it is worth your time and money to visit a few reliable retailers before you make your purchase to ensure that you’re paying the least amount of premium possible. This is all the more important with gold bars because the amount you invest is significantly higher and even a difference of 1–2% can translate into substantial savings for you.

What makes gold bars a good investment option?

Gold bars are a lucrative idea for those who have money to invest and are looking to invest in a form that not only offers long term benefits but is also easy to liquidate. The highlights of investing in a gold bar are:

·         Negligible making charges.

·         You can invest in gold bars for your family’s financial security, with the intention of eventually converting bars into jewellery or liquidating them when an emergency arises.

·         If you are looking for a long term investment and want to put it in physical gold then gold bars are a suitable tool.

·         Easy to liquidate and straightforward to sell which makes gold bars very accessible to all kinds of investors.

WHAT IS THE LBMA?

 LBMA is the acronym for London Bullion Market Association. It is an international trade association, responsible for setting up standards in the global bullion market. Its members include traders, refiners, producers, miners, and storage and secure carrier services.

The LBMA is responsible for gold and silver bullion standards, that includes how precious metals must be refined as well as traded.

It is also responsible for Good Delivery accreditations, and the maintenance of a Good Delivery List.

 

WHAT IS A LBMA APPROVED REFINER / MANUFACTURER?

 The LBMA maintains a Good Delivery List since 1987. The list comprises gold and silver refiners that are recognized to produce gold bars to a certain standards. LBMA accredited refiners include Metalor, Argor-Heraeus, PAMP, Umicore or Valcambi.

A gold or silver refinery accredited by the LBMA is a refinery that meet stringent acceptance criteria in the production of its gold bars. Such refineries are eligible to produce Good Delivery bars.

Additionally, LBMA approved refiners must implement the Responsible Gold Guidance from the LBMA, that require them of sourcing metal responsibly.

Historically, the Good Delivery List was named the List of Acceptable Melters and Assayers.


WHAT IS A LBMA GOLD BAR?

GOOD DELIVERY BARS VS LBMA GOLD BARS

The term “LBMA gold bar” does not have to be confounded with “Good Delivery gold bars“, which corresponds to gold bars weighting around 400-ounces (12.5 kg). Good Delivery bars, also known as “large” or “market” bars are manufactured conform to strict specifications set in the Good Delivery Rules. Such bars are shipped to approved vaults in London, and then freely traded between institutions within the market.

The London Good Delivery standard is universally acknowledged as the de facto international benchmark for the quality of large gold and silver bars. With such criteria, the LBMA aims to standardize the quality of the gold bars being traded and stored in the global market.



Bars must satisfy high standards in terms of purity, quality and physical appearance. Below is a summary of the criteria required for a gold bar to be qualified as Good Delivery:

·         Net Weight (Fine Gold Content): approximatively 400 troy ounces.

·         Shape: ingot shaped (trapezoidal).

·         Appearance:

·         Should contain as less irregularities as possible, such as cavities, cracks or holes (especially on the top surface).

·         Sides and bottom surface should be flat and reasonably smooth.

·         Marks:

·         Stamp of the refiner

·         Assay Mark

·         Fineness (to four significant digits)

·         Serial Number

·         Weight (including the unit of weight)

The Good Delivery Standards include more precise requirements, such as expected bar dimensions, weighting and casting method. More details about those can be found in the pdf document “Good Delivery List Rules: Conditions for Listing for Good Delivery Refiners” 


GOLDCeylon - GOLD News E Magazine

Key Factors Affect the Price of Gold

By: GOLDCeylon on May 31, 2022 / comment : 0

 Key Factors Affect the Price of Gold 



Though gold cannot be classified as a volatile asset, its price still changes from time to time. Most times, the price of the precious metal is a reflection of economic situations, but there are key factors that affect its price. The major ones include:

Central Bank Reserves – 

Some countries have reserves in gold. Though the United States has abandoned the gold standard, most central banks build up reserves in gold. Increased demand for gold by central banks can result in an increase in its price.

Value of the U.S. Dollar – 

Gold is dollar-denominated, which means the value of the dollar will always have an effect on the price of the precious metal. A stronger dollar means the price of gold can be lower or properly controlled. A weaker dollar, on the other hand, will result in an increase in the price of gold.

Jewellery and Industrial Demand – 

Demand for gold from jewellery makers and other companies that use gold in their products can affect the price of the metal. A significant increase in demand can result in an increase in price.

Wealth Protection – 

Gold is mostly used as a hedge against inflation. During times of economic uncertainty, many wealthy people turn to gold to protect their wealth. The higher the demand for gold for wealth protection, the higher the price can become.

Investment Demand – 

Exchange Traded Funds and other investment vehicles also purchase gold for several reasons. The higher the demand from this sector, the higher the price of the precious metal.

Gold Production – 

Though the supply of gold never drops, an increase in production can also affect the price of the precious metal significantly. The more gold is mined, the better it will be for the price to remain stable. Disruption in gold mining can result in an increase in price. 


Reasons [to & not to] Invest in Gold

By: GOLDCeylon on May 24, 2022 / comment : 0

 


5 Reasons to invest in gold 👆

  • Because it is a real asset with limited supply, gold is an effective inflation hedge.
  • Gold typically performs well during recessions, bear markets, and when stock market volatility  is high.
  • Gold has a low correlation with most asset classes. This is a useful characteristic when building a diversified investment portfolio. A gold investment can be an effective way to hedge portfolio risk and volatility.
  • While interest rates are low, the opportunity cost of investing in gold is low. In other words, by owning gold you are not missing out on high interest or dividend payments.
  • Gold is a tangible asset and you know exactly what you own. On the other hand, the value of financial assets is based on expectations about the future which involves uncertainty.

5 Reasons not to invest in gold 👇

  • Unlike cash, stocks and bonds, gold does not pay any sort of yield. In fact, storing and insuring gold can result in a negative yield.
  • What is gold worth? Because there is no yield, it’s impossible to calculate the intrinsic value of gold. The gold price is driven entirely by supply and demand, which means its price has a speculative nature to it.
  • Liquidity can be a problem with a gold investment. If you own physical gold, you need to store and transport it. If you own gold indirectly, you may be exposed to the same liquidity problem as other financial assets in the case of a collapse of the financial system.
  • For physical gold, transaction costs are higher than they would typically be for assets that are electronically traded. This is especially true for gold coins.
  • Speculation and the use of leverage are creating increasing risks for anyone investing in gold. When you use leverage to buy an asset, you will probably not be able to ride out a meaningful decline. If there are too many speculative long positions, and those positions are leveraged, the price can fall substantially in a short period.
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