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The physical gold becomes your personal property. Gold - Dealing QuantityīullionVault : On BullionVault you buy grams of 100% pure 'fine' gold. This is because it is highly likely that when you withdraw bullion it will lose a substantial proportion of its value with the loss of its Good Delivery status. In both cases you have the right to withdraw - for a fee - but in both cases the services should be used where you do not expect to withdraw gold except in emergency.
Dfo buy gold reddit professional#
In both cases the bars retain their Good Delivery status, and thus their marketability in professional bullion markets. Some gold assets may temporarily be in forms other than Good Delivery Bars, but where in other forms are likely to be converted into physical allocated good delivery bars in due course.
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Most of the gold owned by the trust will be in the form of allocated, vaulted Good Delivery Bars.
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The trust deed requires the gold denominated debt of the trust to be backed by gold assets which the trust must own - although possibly in various forms. Gold ETFs : You are buying a quoted, gold denominated, debt security which is the obligation of a trust created for the specific purpose of enabling gold investment through it. Is it Gold you're Buying?īullionVault : You are buying physical gold in Good Delivery Bar form already stored in a specific accredited gold bullion vault in the location you chose. BullionVault was designed primarily for private individuals. They were targeted originally at investment institutions.īullionVault has been around since early 2005. They started in Australia, and are now available widely. Gold ETFs have been around since about 2003. Digital Gold Currency was an early attempt, but now, by far the two most successful approaches are Gold ETFs and BullionVault. This encouraged attempts by innovative businesses to find a way to make professional market gold accessible to a new generation of gold bullion investors. Meanwhile the professional market continued to trade between its own members at considerably higher volume and with trading costs well below 1%.Įventually the gold price turned, in 2001. Dealing gold bullion for investment became a very low volume business, and small bar trading costs escalated to 6% or more. Smaller volumes led to a tougher environment for retail gold dealers, which led to still higher dealing costs. This created a vicious circle of decline. But that market was much less liquid than the professional market, and applied very much higher dealing costs. Both were blocked out of the most competitive international gold bullion market in the world.įor a while this forced many would-be-gold-buyers into the parallel market for small bars and Coins. Unfortunately the accredited vaults operate very secure and cautious businesses, and they had become inaccessible both to investing institutions and - particularly - to private buyers. Professional buyers don't accept any other bars as adequate delivery, by a seller, of a spot gold market trade. They are produced by accredited manufacturers and must be kept continuously in accredited storage vaults to retain their integrity.
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Most of the marketplace's ultimate customers were gold jewellery manufacturers.Ī fundamental constraint was keeping new gold bullion investment buyers out, and this was the form of the professionally traded commodity - the gold bullion Good Delivery Bar.Īt 400 oz each these bars are large. The investment market in gold bullion dried up, and the professional spot bullion market shrank in on itself, becoming a closed shop for die-hard gold dealers and traders. The gold bullion market became very inaccessible to private investors during the 20 year slide in the gold price from 1980 ($850 an ounce) to 2001 ($260 an ounce). Data for 31 December 2021 Gold Market Background