Buy Gold Ingots.
Gold Ingots are often referred to as gold bars. They are purely refined gold bars produced meeting the standards of that specific gold mint.
Their process of production involves pouring melted gold into a mould of different shape gold s, which is the cooled to cast gold bars. This differentiated a gold ingot form other gold bars which are by stamping of bullion sheets to a specific design and size.
Gold ingots are produced in different sizes and shapes depending on the mould but the popular shape produced is a rectangular gold ingot.
A good delivery gold ingot weighs 400 troy ounces that is about 12.4 kilograms or 27.4 pounds and is has been set by the London Bullion Market Association (LBMA).
It should have a length of 210 – 290mm, width of 55 – 85mm, height of 350-430 T. Oz and should contain 99.5% of pure gold.
Common weights of gold ingots on the market include 1 kilogram gold ingot, weighing 32.15 troy ounces and smaller popular bars include 1 ounce, 10 ounces, and 100 grams.
Gold ingots are stamped with a variety of information most of which includes the weight of the bar, its purity, name or logo of the manufacturer and a unique serial number.
They are often used as wealth reserves by central banks, investors, and financial institutions.
They are also used in various industrial applications such as the electronic, jewelry and medical industries and used for immediate cash transactions on the gold market. buy gold ingots
What Are Gold Ingots Used For? Buy gold ingots
Gold ingots also known as gold bars are used for a variety of purposes depending on the consumer needs and some of these include;
Individual purchase gold ingots as a way of securing their wealth and diversifying their investment portfolios. Financial institutions purchase it to add it on their investment portfolios.
Central banks hold it as part of their foreign exchange as it serves as an asset that can be liquidated during times of inflation, economic crisis.
Serves as a financial asset that can be liquidated in times of economic crisis.
They are traded by gold collectors over the counters in the commodity exchange market and serve as standard units in the gold market.
They are used by artisans and jewelers as raw materials for making luxurious items like jewelries and decorative items.
Gold is characterized with an excellent conductivity and a high resistance to corrosion making it very vital in the manufacturing of different electronic devices such as switches and connectors
Gold ingots can be used as a collateral security for securing big loans by acting as an asset that lenders can 100% rely on.
How Much Is A Gold Ingot Bar Worth?
Price of the gold ingot is determined by the current spot price on the gold market and also by its purity and weight.
Gold ingots come in various shapes, sizes and weights with the common good delivery sizes on the gold market including 1 gram, 1 ounce, 100 grams, 1 kilogram, and 400 ounces. But with a standard purity that’s 99.99% of pure gold.
The market costs of gold ingots fluctuate depending on geopolitical events, supply and demand, economic factors, among others.
To get the market value of a gold ingot, you should be sure of its weight in troy ounces with 1 kilogram = 32.15 troy ounces and 1 gram = 0.03215 troy ounces.
You can always check for the current price of gold per troy ounce from different trusted gold market platforms, gold investment sites and from financial news.
You will then multiply the current spot price per troy ounce.
If you have a 1-kilogram gold bar and the current price of gold is $1,900 per troy ounce:
1 kilogram = 32.15 troy ounces
Value = 32.15 troy ounces
$1,900/troy ounce = $61,085
Please note that prices may vary due to different premiums charged by gold dealers covering for manufacturing and distributions costs.
Current Gold ingot bar spot price according to its weight.
| Weight | Price |
| 1 gram | $68.73 |
| 1 ounce | $20,700.o4 |
| 1 kilo | $67,676.72 |
Data is accurate as of April 5, 2024 and is subjected to change. +256785307551