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Buying Gold / Nuggets information and questions
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<blockquote data-quote="RedDirtDigger" data-source="post: 117650" data-attributes="member: 2964"><p>Hello flashhunter, the refiners buy gold at a little under spot price ($1.20 per gram below spot price) and you also pay a assay/refining fee of about $160. Refiners like PW Beck turn their gold into bullion and rings and other jewellery findings and would make most of their money that way. </p><p></p><p>I also believe there is a shortage of raw gold avaliable for industry/manufacturing and the market price for refined gold and different gold-silver-platinum-copper alloys for industry is probably significantly higher then spot price, so buying off prospectors makes sense.</p><p></p><p>Spot price is the price for investing in gold on paper, getting a bullion bar in you hand will cost you a significant premium over spot price.</p><p> </p><p>RDD</p></blockquote><p></p>
[QUOTE="RedDirtDigger, post: 117650, member: 2964"] Hello flashhunter, the refiners buy gold at a little under spot price ($1.20 per gram below spot price) and you also pay a assay/refining fee of about $160. Refiners like PW Beck turn their gold into bullion and rings and other jewellery findings and would make most of their money that way. I also believe there is a shortage of raw gold avaliable for industry/manufacturing and the market price for refined gold and different gold-silver-platinum-copper alloys for industry is probably significantly higher then spot price, so buying off prospectors makes sense. Spot price is the price for investing in gold on paper, getting a bullion bar in you hand will cost you a significant premium over spot price. RDD [/QUOTE]
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