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people online in the last 1 minutes - 0 members, 0 anon and 0 guests. (Most ever was 29 at 13:36:32 Sat Aug 3 2002)

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baub
14:05:08 Thu
Mar 15 2012

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gold price

Anyone have an idea of why the gold price is declining?


b

  
LipCa
14:58:03 Thu
Mar 15 2012

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Re: gold price


  
baub
16:28:34 Thu
Mar 15 2012

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Re: gold price

Git it.

Thanks LipCa

B

  
sparkedog
08:29:18 Sun
Apr 8 2012

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Re: gold price

What is paid for the Raw gold? Is it a set percent based on the futures market? If so, what percent?

  
JOE_S_INDY
11:17:09 Sun
Apr 8 2012

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Re: gold price

Well, Sparky,

"Spot Price" is the starting point.

Then the buyer has to either guess, estimate or process a sample of either the Gold or (more often done) melt the entire "Raw Gold" shipment into a homogeneous "Dore' Bar" (a melted mass of all the Gold).

From that Dore' Bar a small sample is assayed to determine the actual % of Gold in that bar, yielding total Gold weight in the bar. (that is the traditional way).

Newer equipment allows instantly arrived at, and hyper accurate, analysis of the Dore' Bar's total alloy metals by metal and highly accurate %. Thus you know the exact weight of Gold, Silver, Copper etc.

So, in selling to a modern refiner like Doral there is a service fee (last month, in Long Island, Doral charged 5%) and then you get a check for the total Gold and Silver values, less that 5%. http://www.doralcorp.com/index.html

Now, that's state of the art for a refiner sale. There is another type of sale - a Rough and Ready private sale.

Jewelers, investors, collectors and just someone who wants to own your Gold are the buyers here. At that point, it's what the market will bear.

Collectors are interested in unique sizes and shapes and pay ~~ some % ~~ premium above spot depending on the Gold's shape or texture, physical size and the buyer's personal preferences.

Jewelers buy at, or below or a bit above spot, depending on a variety of circumstances (usually supply and their needs, which includes their profit margin).

So, to answer your question - it just depends .... :devil:

Joe



---
Wiser Mining Through Endless Personal Mistakes
 
 
peluk
04:26:20 Mon
Apr 9 2012

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Re: gold price

After going to the site,I checked out the topic in the left column titled "What we buy".
When I went there,I saw no mention of gold dust or nuggets.It may be that they do buy these items,I haven't called.I do know when I was in New York City a couple of years ago,a sidewalk vendor with a sign was advertising for his employer that "We buy gold".When I asked to be taken there,I was not surpised to find a Russian in a caged inclosure.He stated,after seeing the nuggets I had,"No,sorry,we don't buy pellets."I explained it was raw gold and he said,"Yes,we don't buy raw gold".

  
ME
13:08:53 Mon
Apr 9 2012

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Re: gold price

Isn't 5% steep? My guy charges 5% on small lots but over 10 oz is 3%, last time I had 1/10th ozers made and he only charged 2% to make up for not paying for the silva which was minimal. HH all, Mark

  
kaveman
16:05:13 Mon
Apr 9 2012

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Re: gold price

5% seems to be the going rate from any decent size commercial buying site, with a refining charge tacked on,.........and don't forget the 'melt loss', which they claim can be as much as another 5%. I'm pretty happy if I can get 80% spot.

  
AK_Au_diver
18:11:42 Mon
Apr 9 2012

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Re: gold price

Here is an example from one of my Oxford Refining receipts. This is Nome gold, so very pure, and very clean.

Receive Wt: 22.53
Melt wt: 21.85
Assay:

Gold:
-- Assay: 88.8%
-- Returnable: 98% (This is their 2% fee for gold)
-- Wt Returned: 19.01

Silver:
-- Assay: 8.2%
-- Returnable: 90% (This is their 10% fee for silver)
-- Wt Returned 1.61

Flat fee per lot, I'm not sure if these are correct:
Assay Charge: $150
Refining Charge: $90

From here the gold and silver is sold at the next day London PM fix price. For an approximate return of 84.3%
[1 edits; Last edit by AK_Au_diver at 23:29:36 Mon Apr 9 2012]

  
baub
18:20:18 Mon
Apr 9 2012

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Re: gold price

Assay charge seems high. Thanks very much for the info AK.

b

  

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