Gold Bullion Information
A universal currency, instantly convertible into any worldwide money system, gold bullion is a secure and trusted long-term investment that retains a relatively high value. Gold bullion attracts both private, small investors and major international dealers. Anyone can own gold bullion in either coins, bars or ingots, as well as jewelry.
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Gold Bullion Defined
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Gold bullion is 99.9 percent pure gold, unlike jewelry where the gold content is often diluted with other metals and the gold content measured in karats. Bullion gold is melted down into coins or bars of predetermined weight and is measured by mass and purity.
Gold Bullion Bars
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Gold bars or ingots are usually our first thought when we think of gold bullion. The best known and most traded gold bar is the London Good Delivery (LGD). These are the bars frequently pictured in thriller heist movies and for that reason are the most recognizable. LGD gold bullion bars are held in central banks worldwide or by private or corporate investors, and are traded daily on the open market.
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Gold Bullion Coins
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An America Eagle gold bullion coin. Bullion coins are popular with investors because of their portability, ease of identification and guaranteed standard. One of the most popular is the American Eagle Gold Bullion coin which is produced by the United States Mint and available through dealers across the country. Other popular bullion coins include South African Krugerrands and British Sovereigns.
Gold Bullion in Jewelry
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Gold jewelry that is 24K is considered pure gold, so in market terms it would have the same value as gold bullion. But this is taking into account just the value of the gold. Jewelry also has an extra value with regard to the work and skill put into creating it, the perceived value of the designer or simply the fashion of the day.
Gold Bullion Trading
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The price of gold bullion is driven by supply and demand as global gold trading centers open and close throughout the day. A moment by moment watch is kept on the changes in gold prices and is known as the gold spot price. This is the price paid for immediate delivery of gold at that particular time and can change immediately.
Fort Knox Gold Bullion
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The gold bullion depository at Fort Knox, the most famous of all the world bullion vaults, was opened in 1937, with the first deposits made in January of that year. Security includes 750 tons of reinforced steel and 16,000 cubic feet of granite. Famous documents that have been previously stored in the depository include the United States Declaration of Independence and Lincoln’s second inaugural address, along with the U.S. Constitution. No visitors are ever allowed to the facility.
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References
- Photo Credit golden economy image by Alex Fish from Fotolia.com gold coin image by Greg Pickens from Fotolia.com
