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02/01/2023 3:30 AM     Current Market Price:     Gold:  $1,924.34/ozt   Silver:  $23.46/ozt   Platinum:  $1,023.54/ozt   Palladium:  $1,688.82/ozt  

Friday, August 15, 2014

It's the middle of August, What's Up...or down with Gold?

 Another back and forth day in the metals market as another piece of temporarily disconcerting economic news rallied the market early but was offset later on in the day by some conciliatory remarks by Vladimir Putin which was interpreted to slightly diffuse the Ukrainian crisis and help to lift the equity markets.

Opening at $1313 in Asia, gold initially moved lower to $1311.50 but recovered nicely through their afternoon and the early European hours to $1316.50.  Poor economic reports out of the Euro Zone (GDP 0.0%) and month on month CPI (-0.7% - year over year 0.4%)) renewed calls for increased stimulus and put pressure on gold later in the session, pushing the metal down to $1309 prior to the New York open.

A higher than expected Jobless Claims number of 311K (cons. 295K) caught the market by surprise given the recent constructive readings of the last few months.  Gold quickly rose to the intra-day high of $1319 as the U.S. Dollar also took a hit on the news.  Retreating back to $1312 on comments by Putin that Russia would defend itself, but should not "fence itself off from the outside world", triggered quick profit taking in a thin summer market.  The metals settled in to an afternoon trading range, covering either side of a $1311.50 - $1314.50 more than once.  Gold finished quietly at $1312.80. www.kmggold.com

Posted by Michael Gupton at 12:00 AM 0 Comments

Wednesday, April 02, 2014

Gold Bullion from Around the World

Just like the silver bullion that makes its way into KMG Gold, gold bullion is another popular item for us. Since we buy and sell gold bullion in all shapes and sizes, we have a lot of interested customers who purchase the gold bullion as a form of investment. As we mentioned in our last post about silver bullion, many investors prefer to purchase bullion in precious metal form because it protects against inflation and deflation.

Gold bullion coins and bars can be sold in many different ounces and come from various mints or mines from around the world. Gold coins vary anywhere in purity from .900 to .9999 and different mints have changed the gold content of the gold coins throughout the years. They are sold for more than their face value because of their high gold content so their face value is merely symbolic on the coins.

Here are some of the world's most popular gold bullion coins:
  • USA - Gold Eagle. Released by the United States Mint in 1986. The Mint also produces the American Buffalo and Double Eagle gold bullion coins.
  • Canada - Gold Maple Leaf. Released by the Royal Canadian Mint in 1979.
  • Australia - Gold Nugget. Released by the Perth Mint in 1986. One of the few countries which changes the coin's design every year. The Perth Mint also produces the Lunar Series I (1996-2007) and II (2008-2019) coins.
  • China - Gold Panda. Released by the People's Republic of China in 1982. One of the few countries which changes the coin's design every year.
  • United Kingdom - Gold Britannia and Sovereign. Released by the Royal Mint in 1887 and has been released off and on again through the present.
  • Mexico - Gold Libertad. Released by the Mexican Mint in 1981.
  • Austria - Gold Philharmoniker. Released by the Austrian Mint in 1989.
  • Russia - George the Victorious. Released by the Saint Petersburg Mint in 2006.

KMG Gold Gold Bullion Coins

KMG Gold often has a few of these different types of gold bullion coins (along with some bars) in stock at any given time, so just give us a call and we'll let you know what we have available for purchase!
Posted by Mike Gupton at 12:00 PM 0 Comments

Wednesday, March 26, 2014

Cutest Coins Ever Made? Anne Geddes For the New Zealand Mint

Photographer Anne Geddes has been long known for her adorable pictures of babies who are often photographed dressed as fairies, fairytale creatures, flowers and little animals. Her images have been published in books and calendars in 83 counties, and Geddes has proven herself to be a savvy photographer, clothing designer and businesswoman. Born in Australia and now living in New Zealand, Geddes has created a limited edition collection of coins for the New Zealand Mint.

Each of the four coins depicts a baby in typical Anne Geddes style - very cute, curdled up and sleeping! Each coin comes has a face value of $2 and is made of 999 fine silver. The first two coins in the collection were issued in 2012 (the babies sleeping on and in flowers) with additional ones issued in 2013 (baby in a cocoon) and 2014 (Christmas themed).

Sadly KMG Gold doesn't have any of these awesome coins in stock, but we promise we sell a wide range of other (slightly less cute) coins and bullion!
KMG Gold Recycling Anne Geddes NZ Mint Coins
Posted by Mike Gupton at 12:30 PM 0 Comments

Wednesday, March 12, 2014

Silver Bullion From Around the World

Silver bullion coins are very popular here at KMG Gold, with many people seeking them out as a form of safe investment. Many investors prefer silver (and gold) bullion to cash because they protect against inflation and deflation.

Although silver isn't typically used in currency anymore (Mexico is the only country that uses very small amounts in its coins), mints around the world produce their own silver bullion coins that investors and collectors enjoy. Oftentimes, with each new issue of the silver bullion coin in a year, the design will vary slightly but still obtain the coin's original theme.

Silver bullion coins and bars can be sold in many different ounces and come from various mints or mines from around the world. These silver coins and bars are typically 99.9% pure and labelled with ".999". They are sold for more than their face value because of their high silver content, for example, the United States 999-fine Silver Eagle bullion coin only has a face value of one dollar.

Here are some of the world's most popular silver bullion coins:
  • USA - Silver Eagle. Released by the United States Mint in November 1986 and has a face value of $1.
  • Canada - Silver Maple Leaf. Released by the Royal Canadian Mint in 1988 and has a face value of $5.
  • Australia - Silver Kookaburra. Released by the Perth Mint in 1990 and the one troy ounce coin has a face value of $1. Australia also has a Silver Kangaroo which was first minted by the Royal Australian Mint in 1993 and has a face value of $1.
  • China - Silver Panda. Released by the People's Republic of China in 1983 and comes in various sizes with various face values. The one troy ounce coin has a face value of 10 Yuan.
  • Britain - Silver Britannia. Released by the Royal Mint in 1997 and has a face value of 2 pounds.
  • Mexico - Silver Libertad. Released by the Mexican Mint in 1982. These coins do not have a face value.
  • Austria - Silver Vienna Philharmonic. Released by the Austrian Mint in 2008 and has a face value of 1.50 Euro.
  • Russia - George the Victorious. Released by the Saint Petersburg Mint in 2009 and has a face value of 3 rubles.
If you're interested in purchasing silver (or gold or sometimes even platinum!) bullion coins or bars from KMG Gold, please give us a call at 1-877-468-2220 or shop online to see what we have in store. We would be more than happy to set anything you'd like aside for pickup - even if it's not silver bullion
KMG Gold Silver Bullion
Posted by Mike Gupton at 11:30 AM 0 Comments

Wednesday, February 19, 2014

KMG Gold Sponsors 2nd Annual Attire to Inspire Fashion Show

KMG Gold attends Easter Seals Manitoba Fashion ShowFor the second year in a row, and since its inception, KMG Gold was a proud sponsor of the SMD Foundation and KMG Gold attends Easter Seals Manitoba Fashion ShowEaster Seals Manitoba's second annual Attire to Inspire Fashion Show. This exciting fundraiser raised money for children, youth and adults with disabilities in Manitoba.

We love giving back to a good cause and this year was even better than last year because we were able to make it out to the event this time! Project Specialist Tasha DiLoreto (that's me!) and Office Manager Jodi Micelli both attended and we got to see a runway of beautiful clothing and local celebrities, not to mention the delicious food and wine that we were served.

KMG Gold was named the Inspire Sponsor of the show which was held in a new venue this year because it had expanded so much since last year. It took place at the Qualico Family Centre in the Assiniboine Park and 144 people attended the sold out show. The fashion show featured local clothing from several small boutiques in Winnipeg and all of the celebrities in attendance were also local Winnipeg persoKMG Gold attends Easter Seals Manitoba Fashion Shownalities, like Blue Bombers teammates, local news anchors and local politicians.KMG Gold attends Easter Seals Manitoba Fashion Show

We were so happy to be able to support such a fantastic cause and we can't wait to see the show again next year. Our guess is that it will expand again since it was such a fun evening, which is always appreciated in the cold Winnipeg winter!

In the meantime, we'll continue to support Easter Seals Manitoba in a new way: the Drop Zone Challenge! Come read about our quest to watch our boss Michael Gupton rappel down the side of one of Winnipeg's tallest buildings and help us reach our goal of raising $1,500.

Posted by Mike Gupton at 12:30 PM 0 Comments

Wednesday, February 12, 2014

Bitcoin 101

KMG Gold accepts bitcoinPerhaps you've heard of Bitcoin before, the digital currency that popped up in 2009 and which seems to be in the headlines every so often. There are numerous different opinions floating around about Bitcoin, a lot of them uninformed. Since KMG Gold has very recently begun accepting Bitcoin as a form of payment, we thought it would be a great idea to give our customers a quick overview of all things Bitcoin.

Here's the lowdown: Bitcoin is a digital currency that people can transfer between one another by using cryptography to control its creation and the transfer of funds. Bitcoin aren't regulated by any country or any person, the way they even come into existence is through a process called mining where people verify and record payments with one another. Bitcoin are stored in digital wallets which are essentially different software programs that you would use on your computer or smartphone. Bitcoin can be transferred instantly and if you're using your smartphone, it would use a QR code to do so.

KMG Gold accepts bitcoinBitcoin can be bought and sold and traded across anywhere in the world and is somewhat anonymous in the sense that only the Bitcoin address is viewable and not the owner's name. Bitcoin can be stolen and it is impossible to get them back, which is why Bitcoin often generates a lot of flack. However, this can be prevented by working with trustworthy individuals and companies, which is why KMG Gold is eager to adopt this additional form of currency.

Like we mentioned earlier, KMG Gold is now accepting Bitcoin as a form of payment at our 620 Academy Road location in Winnipeg, and is one of the first merchants in town to do so. This means you can use Bitcoin to buy gold, silver, platinum and palladium bullion, gold testing supplies, coins, numismatics and handcrafted jewellery. In the near future, KMG Gold will also be a trusted seller of Bitcoin, offering customers a safe and easy way to purchase Bitcoin.

If you're interested in learning even more about Bitcoin, visit CoinFest Winnipeg 2014 this Saturday February 15. KMG Gold is one of its proud sponsors. It's running from 1pm-5pm at the Santa Lucia Pizza lounge at 4 St. Mary's Rd and will share information about Bitcoin to individuals and local merchants looking to learn more about the digital currency. There will be guest speakers, a Q&A session and door prizes at this event so be sure to come on out if you want to learn more!

Have more questions? Check out this video below that is very informative.








Posted by Mike Gupton at 12:00 PM 0 Comments

Wednesday, February 05, 2014

Gold Gossip: The Cariboo Gold Rush

KMG Gold Gold Gossip Cariboo Gold RushYou've probably heard of the California Gold Rush and the Klondike Gold Rush, but do you know about the Cariboo Gold Rush? In our latest edition of KMG Gold's Gold Gossip blog series we'll tell you all about this exciting time in history.

Although not as major as the California and Klondike Gold Rushes, the Cariboo Gold Rush occurred in what's now the Canadian provinKMG Gold Cariboo Gold Rush Barkervillece of British Columbia and began as early as 1852. In 1858, the Hudson's Bay Company shipped over 800 ounces of gold to the Federal Mint in San Francisco which ignited gold fever. The California gold rush had happened only a few years earlier so the Cariboo sounded like it was the next hot spot for finding gold.

The summer of 1858 saw over 30,000 prospectors sail to Victoria where they first needed to obtain a valid mining license which would allow them to prospect for gold. Gold seekers took to the Fraser River, looking for gold in the sand bars and a lot of people returned to California when they didn't find much. But for those who stuck with it, they worked their way up the Fraser River and reached the Cariboo in 1862, getting lucky.

Initially the gold seekers were American, but as the American Civil War raged on, most went back home, and the prospectors were largely Canadian. It was a Canadian named Billy Barker who found gold first in the Cariboo on Williams Creek. This led to the creation of Barkerville which boomed into a town of 10,000 people all on the hunt for gold. And by 1865, the gold rush was in full swing!

We can thank the gold rush for...
  • Many new towns sprung up who were run by men and women who would become pioneers in the new agriculture and business communities.
  • The city of Victoria hugely expanded and developed.
  • Wagon Road was created by Royal Engineers and stretched 400 miles from Yale into Barkerville.
  • Wagon Road made it possible for the soon-to-be Canadians to access and hold authority over the Cariboo goldfields to ensure the wealth didn't pass through into the United States.

Posted by Mike Gupton at 11:30 AM 0 Comments

Wednesday, January 22, 2014

Gold Gossip: Earthquakes and Gold

KMG Gold Gold Buyers Gold Gossip Blog Series EarthquakesGold can be found across the globe but did you know that some experts believe that earthquakes can actually create new gold deposits? The latest in the KMG Gold Gold Gossip blog series is all about the role that earthquakes can play in gold production.

In the March 17, 2013 issue of the journal Nature Geoscience, it was reported that the water that is found in the faults created by earthquakes will vapourize during an earthquake and can create new gold deposits. The lead author of the study, Dion Weatherly, a geophysicist at the University of Queensland in Australia, believes that this theory offers an explanation for the link between gold and quartz found in many of the world's gold deposits.

When an earthquake hits, it moves along fault lines in the ground. Large faults can have many smaller fractures along their length which are connected by jogs that appear as rectangular voids. Water often lubricates the faults and fills in these fractures and jogs. And since these are often six miles underground, under very high temperatures and pressures, the water carries high concentrations of carbon dioxide, silica and precious metals like gold.

As the fault jog opens wider during an earthquake, the water inside of this void immediately vapourizes and forces silica (which forms quartz) and gold out of the fluids and onto nearby surfaces.

But don't get too excited because the amount of gold left behind after an earthquake is extremely small and the underground liquids only carry one part per million of the precious metal. However, these deposits can build up over time and can even occur with earthquakes with a magnitude smaller than 4.0. After all, the quartz-linked gold deposits are what sparked historic gold rushes like the ones in California and the Klondike, with prospectors tracing the gravels back to their sources, where hard-rock mining continues today.

The above picture is an example of what gold found in quartz looks like. This is an extreme example, but you never know what you might find!

Stay tuned for KMG Gold's next blog post, published every Wednesday. If there's a topic you'd like to read about, share your thoughts in the comments below or via Facebook or Twitter.

Posted by Mike Gupton at 12:00 PM 0 Comments

Wednesday, January 15, 2014

How does KMG Gold offer such high payout rates?

KMG Gold Gold Buyers Melts GoldHave you ever wondered how KMG Gold is able to offer its customers such high payouts compared to the competitors? One reason for this is thanks to our electric induction gold melter. This state-of-the-art melting furnace truly exemplifies our award-winning customer-first philosophy since it eliminates the need for customers to sell their precious metals through a middleman. We can actually melt our customers' gold at our Academy Road location!

Most customers don't know that all recycled gold eventually ends up at a refinery for processing, so it actually can cost quite a bit when you go through middlemen to recycle your precious metals. Middlemen can include pawn shops, coin dealers, traveling road shows, gold parties, kiosks and cheque cashing outlets. All of these middlemen eventually sell the customer's gold and other precious metals to a refinery where the gold is then melted. This is why they aren't able to offer their customers as much money as a business who does their own melting.

We purchased this awesome melter to ensure that in this competitive market, our customers will be best served to ensure they're completely happy with the services that we provide them with. It is this attention to detail and determination that continues to earn us our leadership position in the precious metal recycling industry and so many Better Business Bureau Torch Awards.

If you know of a way we can improve our service to you, please leave your thoughts in a comment below! Don't forget to like us on Facebook and follow us on Twitter!

Posted by Mike Gupton at 2:30 PM 0 Comments

Wednesday, January 08, 2014

Gold Gossip: Fort Knox

KMG Gold Talks Fort KnoxFort Knox. You've definitely heard about it before but how much about it do you really know? Here's the KMG Gold rundown of one of the world's famous gold depositories that continues to drum up hype and excitement every few years.

For starters, Fort Knox is located adjacent to Fort Knox, Kentucky and is officially called the United States Bullion Depository. It was built in 1936 by the US Treasury Department on military land and cost less than $1 million to construct, about $10 million in today's dollars. The reason why Fort Knox was built so quickly was because of President Franklin D. Roosevelt's Executive Order 6102 in 1933, an order which forced American citizens to sell all their gold to the government. Between 1933 and 1937, the federal reserve of gold grew from $4 billion to $12 billion! With a huge growth in the amount of government-owned gold, a secure building was needed to store it.

Below the fortress-like structure of Fort Knox lies the gold vault, a room encased in 17,000 square feet of granite and protected by a blast-proof door that weighs 22 tons. It is also made of 4,500 square years of concrete, 775 tons of reinforcing steel and 700 tons of structural steel. In addition these high levels of physical security, Fort Knox is equipped with alarms, video cameras, minefields, barbed razor write, electric fences, closed circuit cameras and heavily armed guards and army units. To access the vault, staff members must dial individual combinations that are known only to them and no visitors are ever allowed in.

The first shipments of gold to Fort Knox began in 1937 and included everything from gold bullion to new gold bars made from old gold coins. The shipments were gradually made and were sent by 500 rail cars and by mail which were protected by the US Postal Inspection Service and US Treasury Department Agents. KMG Gold Gold Buyer Gold Bars

Throughout history, other precious items have been housed in Fort Knox for safekeeping. The Articles of Confederation, Lincoln's Gettysburg address, three volumes of the Gutenberg Bible and Lincoln's second inaugural address have all seen the inside of Fort Knox. During World War II, Fort Knox held the US Declaration of Independence, the US Constitution and reserves of European countries and key documents from Western History. The crown of St. Stephen and some of the Hungarian crown jewels were also held there.

It's estimated that Fort Knox holds nearly 3% of the world's mined gold, 147.3 million ounces. The price of a troy ounce of gold in 1934 was about $20 and in 1980 it was between $350-$450. Its current price is more than $1,200.

But gold hasn't been transferred in or out of Fort Knox in many years. The only time gold will leave the vault is to be tested for purity during annually scheduled audits. And some people believe that Fort Knox is actually empty! If Fort Knox is empty, what's in it and where is the real gold reserve? This would raise a lot of very interesting questions and we at KMG Gold would love to know more about it.

If you like conspiracy theories, Fort Knox is one topic that will definitely keep you busy for awhile!

Posted by Mike Gupton at 1:00 PM 0 Comments

Thursday, January 02, 2014

Our New Year's Resolutions

We're so happy to be able to wish you a wonderful new year and to thank you for helping support KMG Gold and allowing us to grow into the thriving business that we've become known for.

We couldn't have done any of this without our loyal customers so we want to share how we plan on giving back to our community this year. We have a few things in the works for 2014 but as the year begins, we're lending our support to the Easter Seals and Society for Manitobans with Disabilities (SMD).

The SMD programs that are funded through Easter Seals Manitoba give people with disabilities the opportunity to further their education, build successful careers, develop their life skills, explore recreational activities and create connections with professionals and equipment that can improve their overall quality of life. The SMD also helps strengthen the abilities people already have, enabling them to develop new strengths so that they can truly live their lives to the fullest. KMG Gold proudly supports these mandates and is excited to partner up with such an important organization.

KMG Gold will be supporting the Attire to Inspire Fashion Show for 2014, becoming a sponsor for the second year in a row. We're so excited because this year we'll actually be attending the show too and we can't wait to see firsthand what they have in store.

But the thing we're most excited about participating in is the Easter Seals Drop Zone! If you aren't familiar with the Drop Zone event, you're in for a treat. An event that happens in several cities across Canada, individuals are invited to raise money for the Easter Seals and then rappel down the side of a large building. And since 2005, nearly 6,000 superheroes have raised more than $10 million for Canadians with disabilities.

Of course, we'll be sending our own Michael Gupton down the side of the building and we're still trying to decide which superhero he should dress up as. But as excited as we are to see him in action, we're even more excited about how many lives will be changed as a result of this event.

If you'd like to donate to this awesome cause, you can do so online here and you'll even receive a tax receipt for your donation. Or you can give us a call at 1-877-468-2220 if you'd rather donate that way!

Don't forget to stay tuned for fundraising news, events and updates from us!


Posted by Mike Gupton at 11:00 AM 0 Comments

Wednesday, December 11, 2013

KMG Gold wins BBB Environment Friendly Torch Award for 2013!

KMG Gold Recycling wins BBB Torch AwardWe're happy to be adding another beautiful Torch Award trophy to our collection this year. Our second win for 2013, KMG Gold has been awarded the Environment Friendly award from the Better Business Bureau. This is our fifth consecutive award from the BBB and we couldn't have done it without the nominations we received from our loyal and satisfied customers like you!

You might already know that the BBB Torch Awards is an annual program that recognizes businesses that build trust, advertise honestly, remain transparent in their business dealings, honor their promises and display integrity in all of their marketplace KMG Gold Recycling MIchael Guptonactivities. Companies are nominated by peers and customers and the winners are then selected by a panel of independent judges.

We're proud to announce that KMG Gold is currently the only company in the precious metal recycling industry to receive multiple BBB Torch Awards for Business Excellence and the only company to win the Environment Friendly award for 2013.

To be nominated for the Environment Friendly Award, a business must demonstrate leadership and innovation in minimizing the impact the business has on the environment. In our case, the environmental impact is much broader than just our business. All of the precious metals refined by KMG Gold are recycled and placed back into the world's precious metal markets. This helps reduce the demand for newly mined metals, which in turn, helps reduce both the amount of energy required to mine virgin metal, as well as decrease the amount of acid rock drainage generated by mine waste rock dumps and tailings ponds. By recycling their precious metals, KMG Gold customers have helped reduce the amount of acid waste rock generated by virgin mining of gold alone by more than three million tons.

Posted by Mike Gupton at 11:29 AM 0 Comments

Wednesday, December 04, 2013

Mike's Movember Wrap Up

KMG Gold's MIchael Gupton supports MovemberAs November came to a close, so did this year's Movember campaign. If you've been following our blog posts or seeing our recent Facebook updates, you'll recall that KMG Gold President and CEO Michael Gupton participated for the first time this year. Motivated by a KMG Gold Mike Gupton's moustache, last daydesire to help raise money for men's health, he decided to do a twist on the typical moustache and grow his into a handlebar!

We think he did pretty well, and so did his moustache! Mike raised over $185 to support Movember which came from donations from his family, friends and even a few KMG Gold customers. He said he had a lot of fun doing it so we're looking forward to round two in November 2014!

Although Movember is officially over, you can still donate to support the cause. You can donate via Mike's Movember page or through the Movember homepage. Donating to such a great cause is fashionable any time of year, whether or not a cool moustache is involved!

Posted by Mike Gupton at 2:07 PM 0 Comments

Wednesday, November 13, 2013

World Kindness Day

KMG Gold does MovemberWith November 13 marking World Kindness Day, we thought we'd share a little about what KMG Gold does to make the world a little more kind.

KMG strives to donate to a lot of great charities because we truly believe in the importance of giving back to our community and making it a stronger, better place to live in. If you follow our blog, you'll remember that in the summer we supported a local soccer team who made it to the finals! But with the ending of the summer and soccer season, we started looking for new ways to give back.

One of our more recent community service ventures was donating a real gold bar to the Special Olympics' Gold Gala on October 25, an event that celebrated the athletes and the people who support them. While we weren't able to make it out to the event itself, the pictures looked fantastic and we're sure that whoever won the silent auction for the KMG gold bar was as excited about it as we were! KMG Gold Michael Gupton

Our most recent charity venture is Movember. You've probably noticed the spike in men with moustaches in November and maybe wondered what it was all about. Well, it's called Movember (moustache + November = movember!) and men grow the biggest and best moustaches they can while raising money that goes to supporting men's health. Men usually take pictures of themselves throughout the process (we've been posting ours on the KMG Facebook page) and friends, coworkers and family members donate money to support them. You can donate with cash or a cheque but a lot of people find it easier and more convenient to simply visit the participant's individual Movember page and donate online.

With all that said, our boss Mike decided (read: was persuaded by the office) to join Movember and see how much he could raise and how great of a moustache he could grow. You can visit his Movember page here, or visit the KMG Gold home page and click on the moustache pic to be directed to his personal page. We post weekly updates on the KMG Facebook page and you can expect a blog post at the end of the month with before and after pictures, along with the grand total of money he raised for this great cause.

To all of the men out there doing Movember, good luck! Send us your best moustache pictures and we'll post some of the best ones we receive!

Posted by Mike Gupton at 6:30 PM 0 Comments

Wednesday, November 06, 2013

Inside the KMG Coin Shop: The Swiss Franc

KMG Gold sells Swiss RappenAt the KMG Gold head office in Winnipeg, Manitoba, we try to curate a collection of coins that is both interesting and desirable to collectors. If you've visited our new ecommerce website recently and taken a peek around, you've probably noticed that we're expanding our coin and numismatic collection daily.

While we have an impressive amount of Royal Canadian Mint coins for sale, we're also proud to offer a wide assortment of coins from around the globe. We find it very interesting to be able to look at different currencies from different countries and see how they're similar to, and different from, Canadian money!

We like a little excitement in the KMG Gold offices so we thought we'd share one of our coolest coin finds of the week, the Swiss franc. Called Rappen in German or centimes in French, these coins are among the world's oldest currency that is still valid today. The oldest coins, the 10 Rappen, date back to 1879 and are still KMG Gold sells 10 Swiss Rappenmade of their original alloy of copper and nickel. In 1967, francs that circulated with face values of 1/2 franc to 5 francs changed in composition since their silver alloy was worth more than the face value of the coin!

It's interesting that a Swiss Franc from 1879 looks identical to a modern day Swiss Franc (except for some wear and tear!). And each coin is still inscribed with the words Confoederatio Helvetica, the Latin name of the Swiss Confederation.

Each coin that exists is an interesting connection to history and KMG Gold is happy to offer a small selection of this interesting currency online and in-store.

Posted by Mike Gupton at 11:00 AM 0 Comments

Wednesday, October 30, 2013

The Results Are In...We Won!

After receiving dozens of kind nominations from our happy customers and being named a finalist by the Manitoba and Northern Ontario chapter of the Better Business Bureau, we're happy to announce that on October 21, 2013 we were named the winner of the 2013 Torch Award for Marketplace Excellence.

We won the award for a midsize business and were recognized for our display of honesty, integrity and transparency in all out marketplace activities. It is because of our strong customer service that we were able to win this prestigious award and we never could have done it without support from YOU, our happy customers.

President and CEO Michael Gupton started KMG Gold from inside his home (in his dining room, in case you were curious!) in 2007 and when the business outgrew the space, he moved to a Winnipeg storefront in 2009. Since 2009 and since the inception of the Manitoba and Northern Ontario BBB in that same year, we have worked hard to win four consecutive Torch Awards each year since then!

One of the reasons why KMG Gold has been repeatedly recognized is thanks to our mandate of strong customer service and education. When a customer walks into KMG Gold, our goal is to make them feel at home and comfortable with the precious metal recycling business. We want to educate our customers on the processes involved in purchasing their precious metals so that they can make informed decisions when they decide to sell their gold, silver, coins, etc. We believe this is very important since this industry often attracts its fair share of unsavory characters who are willing to do anything to get a sale.

If you nominated us for an award - thank you! And if you didn't, come by and see what sets KMG Gold apart from the competition!
Posted by Mike Gupton at 10:00 AM 0 Comments

Wednesday, September 04, 2013

A Warm Welcome to KMG Gold Recycling's Newest Team Member, Gold-N-Memories of Steinbach, MB

KMG Gold New PartnershipIn an industry rife with unethical businesses, KMG Gold recognizes the importance of only working with businesses and individuals who have a commitment to the same high standards of ethics and integrity as we do. That's why we've implemented the Trusted Gold Buyer program, a designation that recognizes the same high standards as us.

The latest addition to the KMG Gold team is Gold-N-Memories from Steinbach, Manitoba. Gold-N-Memories joins a select group of business authorized to represent the KMG Gold Refinery in the purchase and recycling of unwanted gold and silver jewelry and other precious metals. Gold-N-Memories has made a commitment to the same high standards of ethics and integrity in their business dealings as have, which is why we've chosen to bring them into our network. They will now be able to display the KMG Gold Trusted Gold Buyer banner and decals in their place of business and will be able to incorporate the designation in their business cards, stationery and other marketing materials.

As a winner of multiple BBB Torch Awards that recognize the importance of integrity and ethics in the business place, KMG Gold has long been recognized as the trusted authority in North America for the recycling of precious metals. We strive to educate our customers to ensure they receive the highest payout possible and ensure that they aren't taken advantage of by some less than scrupulous individuals in the gold buying industry.

Posted by Mike Gupton at 3:25 PM 0 Comments

Wednesday, August 14, 2013

It's Finally Here! Shop Online with KMG Gold!

KMG Gold shop online ecommerce siteThe wait is over! KMG Gold Recycling is proud to announce the official launch of our new ecommerce site that gives customers a high-quality online shopping experience. Our first class ecommerce site offers our customers a shopping experience that is truly one-of-a-kind.

Our new site is ideal for those looking to set up their own gold buying businesses, offering everything to complete the process from start to finish; including gold testing products, crucibles, ingot molds and more. Truly offering something for every customer, our site also features hundreds of collectible coins for purchase. We're excited to sell numismatics, Royal Canadian Mint products as well as other coins and paper money from around the world. New items are added daily and feature a wide range of products that are perfect for beginners starting their coin collections and for seasoned coin veterans looking for that specific, rare coin.

Easy to navigate and laid out in a user-friendly manner, KMG Gold is certain that this site will be a game-changer in terms of how people shop in the gold buying industry. We look forward to attracting new customers from across North America and are certain that our high-quality products and positive shipping experience will further increase our already expanding customer base.
Posted by Mike Gupton at 12:30 PM 0 Comments

Wednesday, August 07, 2013

Coming Soon! KMG Gold Recycling's E-Commerce Site

KMG Gold is excited to announce the upcoming launch of our new ecommerce site which will offer products and services to better serve our existing, and future, customer base. We've teamed up with RDO Induction LLC (a leading supplier of induction furnace melting equipment for ferrous, non-ferrous and precious metal alloys) so that we can distribute their leading line of refinery products to our valued customers across North America.

KMG Gold is now officially a Canadian distributor for RDO Induction LLC and we'll be offering several different types of accessories like crucibles, ingot molds, safety and handling equipment and much more, that are crucial to the precious metals industry. We're so excited to offer our loyal customers these new products and services, and we hope they'll be as excited as we are. With the launch of our ecommerce site, we hope to better serve our customers by giving them a one-stop shop for tools, equipment and knowledgeable industry advice. We also know that by increasing our services offered, it helps solidify our position as Canada's leading precious metal recycler. KMG digger logo

For more updates and information about the launch of our ecommerce site, be sure to like us on Facebook and follow us on Twitter. And of course, keep reading our blog to stay tuned for exciting updates and other industry news!

Posted by Mike Gupton at 1:13 PM 0 Comments

Thursday, July 25, 2013

Paper Money? We Buy That Too!

 At KMG Gold we mostly buy and recycle precious metals; anything and everything that's silver, gold, platinum or palladium. But did you know that we also buy coins and paper money too? We have a lot of happy customers who are often surprised at how much we offer to purchase their old coins for and now we can add a couple customers who've sold us paper money!

We got the following paper bills a couple weeks ago and most of us were surprised to find an American $2 bill and a $1 Canadian bill in the mix. We always thought that $1 bills were only found in America and that $2 bills were a thing of Canada's not-so-distant past! Aside from being extremely interesting and very cool, we figured we'd do a little research on the subject and share what we came up with.

It turns out that Canada still used $1 bills up until printing ceased in 1991 and you can actually use $1 bills that you might discover in your attic since they're still considered legal tender! These notes are almost never seen in normal circulation (as us at KMG Gold can attest to!) and certain versions are sought after by collectors, depending on when they were issued and whether or not they were a part of a special collection. The version that we have pictured is a special issue of the bill since it was produced in 1967 to commemorate Canada's centennial, rendering it a highly sought-after collectible piece that depicts the young Queen Elizabeth I.

As for the $2 US bill, it's still in circulation, with the latest issue as recent as 2008. It depicts Thomas Jefferson on the front with a reproduction of the painting The Declaration of Independence by John Trumbull. Although these bills are fairly rare, with their production comprising a mere 1% of all printed US money, they aren't usually worth much more than their face value. They do have a few interesting myths that surround them (like that the bill brings bad luck to the holder which can only be dispelled by tearing off a small corner of the bill), so KMG Gold still thinks they're pretty cool!
Posted by Mike Gupton at 1:40 PM 0 Comments

Monday, July 15, 2013

KMG Gold Recycling Receives Two More BBB Nominations

As a previous winner of several Better Business Bureau (BBB) Torch Awards, KMG Gold Recycling is proud to announce that we've been nominated for two more of these highly-coveted awards for 2013. We've been nominated for the Marketplace Excellence award and the Environmentally Friendly award, both of which we've won in the past, and both of which we're crossing our fingers for this time around!

Since 2010, the BBB Torch Awards has operated as an annual program that recognizes businesses that build trust, advertise honestly, remain transparent in their business dealings, honour their promises and display integrity in all of their marketplace activities. Companies are nominated for the awards by peers and customers and the winners are selected by a panel of independent judges. KMG Gold is currently the only company in the precious metal recycling industry (and in Winnipeg!) to receive multiple BBB Torch Awards for Business Excellence.

According to Michael Gupton, President of KMG Environmental Inc., the parent company of KMG Gold, being recognized for the Environmentally Friendly Award this year is something very special. To be nominated for the Environmentally Friendly Award, a business must demonstrate leadership and innovation in minimizing the impact the business has on the environment. All of the precious metals refined by KMG Gold are recycled and placed back into the world's precious metal markets, helping decrease the amount of acid rock drainage generated by mine waste rock dumps and tailings ponds. By recycling their precious metals, KMG Gold customers have helped reduce the amount of acid waste rock generated by virgin mining of gold alone by more than six million tons.
Posted by Mike Gupton at 3:35 PM 0 Comments

Friday, July 05, 2013

Looking Back: Attire to Inspire Fashion Show

One of our favourite charity events that we attended in the past few months was the Attire to Inspire Fashion Show. The sold-out February show raised money for the Society of Manitobans with Disabilities and for the Easter Seals Manitoba, helping 47,000 Manitoban children, youth and adults. All the proceeds raised stayed within the province to help sustain and support the programs and services provides by these two fantastic charities.

KMG Gold attends Attire to Inspire Fashion Show for Easter Seals ManitobaSince KMG Gold Recycling was founded in 2007, working with charities has been an important element of our business that president and founder Michael Gupton supports. At KMG Gold, we're proud to be able to lend our support to the SMD Foundation and Easter Seals Manitoba in helping them achieve their mission of building a community that supports independence, participation and empowerment of persons of all abilities in Manitoba. As much as we love being recognized as Winnipeg's most-trustworthy gold buyer, we also strive to be recognized as vibrant community leaders who give back to charities through donations and other means. This latest expansion of community support is another part of our ongoing commitment to give back to our local communities in which we operate.

To learn more about KMG Gold's role in community advocacy, please visit us at www.kmggold.com. Like us on Facebook and follow us on Twitter for updates, news and promotions at KMG Gold. For more information about the Society of Manitobans with Disabilities and Easter Seals Manioba, visit http://www.smd.mb.ca/.
Posted by Mike Gupton at 10:05 AM 0 Comments

Tuesday, July 02, 2013

It's Ladies' Night in Elma, Manitoba!

KMG Gold loves ladies' Night in ManitobaIs there anything better than having a glass of wine and catching up on some gossip with your girlfriends on ladies' night? If you live in Elma, there is. Ladies at the local community centre invited Michael Gupton, the president and founder of KMG Gold Recycling, to their last event, asking him to evaluate and purchase their unwanted jewellery, coins and silverware. These ladies were looking to have a fun night out together and also make a little spending money!

Gupton said he was surprised by the invitation but was flattered, saying, "I think we've found ourselves a new market niche." Used to receiving gold and other precious metals in the mail and seeing lots of different people coming through the doors of his popular store on Academy Road in Winnipeg, 
KMG Gold attends ladies' night in Elma Manitoba with great results Gupton is happy to have found another way to purchase gold that is even more convenient for the customer. Since customer satisfaction is one of the key mandates in KMG Gold's commitment to service excellence, being invited to evaluate and purchase precious metals in a new environment is right up Gupton's alley.

If you are interested in hosting a gold party of your own, we'd be happy to give you some more information about how we can help you do so. Give us a call toll-free at 1-877-468-2220 or reach out to us on Facebook or Twitter and we'll be happy to help!
Posted by Mike Gupton at 10:51 AM 0 Comments

Monday, June 24, 2013

The Latest in Metal Analysis Technology Hits KMG Gold

KMG Gold Latest Innovative TechnologyKMG Gold is ready to improve the speed and efficiency of metal analysis even more with the newest addition to their location at 620 Academy Road. The Fischerscope X-Ray XAN 123 Spectrometer was recently purchased by the company and is one of two machines in all of Winnipeg. This innovative machine is optimized for fast, non-destructive analysis of jewellery, precious metals, gold, platinum, silver, rhodium coins and all jewellery alloys and coatings - everything KMG Gold sees on a daily basis.

This new machine allows for extreme precision and very low detection limits, detecting elements of precious metals in mere seconds. Fast and accurate, with better than 1% precision for gold, this machine displays its results in karats or KMG Gold Latest Innovative Technologyweight
 percentages and results can easily be printed out as custom reports. Our customers will benefit from this high-tech equipment and get a faster and more accurate analysis of materials they bring to us, resulting in an even higher payout.

KMG Gold president Michael Gupton says of the machine, "With only two of these machines in Winnipeg, KMG Gold is committed to providing our customers with the absolute best that the industry has to offer." This statement certainly rings true as the acquisition of this machine marks another part of KMG Gold's ongoing commitment to using the latest developments in science and technology to improve their level of service to the customer and as a tool in their ongoing efforts to help create a more educated consumer.

 
Posted by Mike Gupton at 11:51 AM 0 Comments

Thursday, November 10, 2011

Gold Moves Higher on Uncertainty

The price of gold edged up this morning but worries about the restructuring in Greece and a deepening debt crisis in Italy weighed on commodities. The dollar extended losses against the euro after better than expected job data from the United States,
Supporting gold, the euro briefly extended gains versus the dollar after U.S. data showed new claims for unemployment benefits declined for a second straight week.
A weaker U.S. currency makes dollar-priced commodities such as precious metals more affordable for holders of other units.
Gains however were capped by worries about the deepening Euro debt crisis, which pushed investors to sell commodities, including precious metals, reducing the bullion safe haven allure.
Italy moved closer to a national unity government on Thursday, with outgoing Prime Minister Silvio Berlusconi reversing a call for early elections, as EU policymakers dithered over an accelerating debt crisis. Some fear that a deepening euro zone crisis will continue to weigh on gold.
Italy, now firmly at the heart of the euro zone crisis, paid a 6.087 percent yield, the most in 14 years, at a one-year debt auction on Thursday but placed the full planned amount of 5 billion euros.
Greek political leaders resumed their search for a deal on a new prime minister after one agreement collapsed.
Emphasising worries, the European Commission said the euro zone economic growth will slow sharply next year as weak confidence undermines investment and consumption and tighter fiscal policies reduce domestic demand.
Gold fundamentals however, remained supportive.
New York's SPDR Gold Trust, the biggest gold-backed ETF, said its holdings rose 0.24 percent on Wednesday from Tuesday, while that of the largest silver-backed ETF, New York's iShares Silver Trust gained 0.26 percent.
Silver rose 0.29 percent to $34.14 an ounce while platinum rose 0.25 percent to $1,627 an ounce and palladium rose 0.15 percent to $645.47 per ounce.
Posted by Caitlyn Diamond at 8:48 AM 0 Comments

Monday, November 07, 2011

Gold Climbs To Six Week High

Gold climbed to a six-week high in New York as concerns about Europe’s debt crisis spurred demand for the metal as a protection of wealth.

Italian Prime Minister Silvio Berlusconi’s allies pressured him to step aside after contagion from the region’s sovereign debt crisis pushed Italy’s borrowing costs to euro-era records. That overshadowed Greek Prime Minister George Papandreou’s agreement to step down, sending European equities lower.

Gold for December delivery gained as much as $25.20, or 1.4 percent, to $1,781.30 an ounce, the highest price since Sept. 22, and was at $1,777.70 by 8 a.m. on the Comex in New York. Immediate-delivery gold was 1.2 percent higher at $1,776.10 in London.

Bullion is in the 11th year of a bull market and futures reached a record $1,923.70 an ounce on Sept. 6 as investors sought to diversify away from equities and some currencies. The metal is up 25 percent this year.

Holdings in exchange-traded products backed by gold gained 3.1 metric tons to 2,284.6 tons on Nov. 4, the highest level since Aug. 23, data compiled by Bloomberg.

Silver for December delivery gained 1.5 percent to $34.605 an ounce in New York. Palladium for December delivery was 1.1 percent higher at $662.55 an ounce. Platinum for January delivery rose 0.8 percent to $1,642.90 an ounce.
Posted by Caitlyn Diamond at 9:13 AM 0 Comments

Saturday, November 05, 2011

Gold Posts Weekly Gain

Gold eased at the end of the week with a surge in the US dollar, but the precious metal still managed to post weekly gains. After Thursday’s rally on the announcement of the cancellation of the proposed referendum in Greece, the markets seem to calm.

Greek Prime Minister George Papandreou drew criticism during the week after announcing plans to hold a referendum to approve the latest bailout package for the debt-laden country.

The announcement pushed the euro lower as traders feared that the bailout would be rejected by Greek voters, forcing a default and potentially triggering a financial meltdown in Europe. Meanwhile, demand for the safe haven US dollar was high, while gold, which is seen as an alternative asset to the American currency, was in decline.

The markets breathed a sigh of relief on Thursday when Papandreou agreed to cancel plans to hold a referendum following emergency talks with German Chancellor Angela Merkel and her French counterpart Nicolas Sarkozy.

As a result the euro and gold surged, while demand for the US dollar faltered.
Posted by Caitlyn Diamond at 8:45 AM 0 Comments

Friday, November 04, 2011

Massive Gold Coin Returns To Canada

 A large gold coin which had displaced an Australian coin as the world's biggest, but recently lost the title, was on display this week in Canada's largest city.

The coin, measuring 50 centimeters across, took over two years to make from design to final product. When it was introduced in 2007 by the Royal Canadian Mint, it set a Guinness World Record.

But the Perth Mint reclaimed the record for the world's biggest bullion coin last week when it unveiled a 1,000-kilogram coin. It previously held the title with a 10kg coin until 2007, when the Canadian mint launched its 100kg coin.

Although it is now only the second biggest gold coin in the world, the Royal Canadian Mint's huge gold coin is still the purest, according to the mint, and it has traveled the world.

"It's been to the Middle East, it's been to China, it's been to Europe," said Royal Canadian Mint spokesperson Alex Reeves, noting that the coin has a face value of $1 million and the gold is 99.999% pure.

One side of the coin features a maple leaf design, while the head of Queen Elizabeth II is on the other side.
Posted by Caitlyn Diamond at 8:28 AM 0 Comments

Thursday, November 03, 2011

Gold Rises On European Fears

The price of gold rose again this morning, helped by a resurgent euro. The turmoil overseas has been hitting the financial markets due to political chaos in Greece as European leaders contemplated the country's exit from the euro zone.

Gold has been easing higher in the past week. With the threat of a potentially disastrous Greek financial collapse, gold’s safe-haven appeals to those who fear a liquidity crunch in case of a default.

Gold's rise off the earlier losses was echoed in other financial markets. Early losses in stocks and the euro turned to gains on hopes that Greece might ditch a plan to hold a referendum which will test its resolve to stay in the currency bloc.

France and Germany, angered at Greece's shock move to call for a referendum on its latest bailout plan, have issued statements to Prime Minister George Papandreou that Athens would not receive EU aid until it decides whether it wants to stay in the euro zone.

Spot gold was up 0.8 percent at $1,752.29 at 1222 GMT, off an intraday high of $1,758.63, from $1,737.70 on Wednesday. U.S. gold was up 1.3 percent at $1,752.70.

The prospect of a hard Greek default and euro exit hung over a meeting of G20 leaders beginning in Cannes on Thursday. Eyes are also on the European Central Bank, which will meet on Thursday and is expected to hold interest rates steady.

Posted by Caitlyn Diamond at 8:13 AM 0 Comments

Wednesday, November 02, 2011

New Gold Investment Product From The Mint

The Royal Canadian Mint is pleased to announce its initial public offering of Exchange Traded Receipts (ETRs) under the Mint's new Canadian Gold Reserves program. Each ETR provides evidence of ownership in physical gold bullion held in the custody of the Mint at its facilities in Ottawa, Ontario. The Canadian Gold Reserves program marks the expansion of the Mint's successful core bullion and refinery business.

"We believe that this new program will build on our reputation and continued success as a world-class custodian of precious metals," said Ian E. Bennett, President and CEO of the Royal Canadian Mint. "With the introduction of the Canadian Gold Reserves ETR program we hope that investors will see this as a convenient, efficient and secure method for investing in and owning physical gold."

Unlike other gold investment products, the purchaser of an ETR owns the actual gold rather than a unit or share in an entity that owns the gold. The net proceeds of the offering will be used to purchase gold on behalf of the initial purchasers of ETRs at the London pm fix price on the closing date of the offering (Closing Date).  Subject to certain restrictions, ETR holders will be entitled to redeem their ETRs for physical gold products in the form of 99.99 per cent pure gold bars or coins, or for cash based on the future gold price or market price of the ETRs.

Subject to market conditions, the initial offering of ETRs is targeting an issue size of approximately CAD$250 million. The issue price per ETR will be CAD$20.00 or the USD equivalent and the Per ETR Entitlement to Gold will be determined on the Closing Date and will be reduced daily by an annual service fee of 0.35 per cent.

Subject to the satisfaction of certain conditions, the ETRs will be listed on the Toronto Stock Exchange and commence trading on the Closing Date. ETRs will be listed in both Canadian and U.S. dollars and may be traded in either currency.

Through a competitive process, the Mint has selected a syndicate of investment dealers led by TD Securities Inc. and National Bank Financial Inc., and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., Cormark Securities Inc., MGI Securities Inc. and Raymond James Ltd. to distribute the ETRs on a best efforts agency basis.

Closing is expected to occur in late November 2011. The offering is being made on a prospectus-exempt basis pursuant to the terms of an order of the Ontario Securities Commission dated August 30, 2011.

The ETRs have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States. This media release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer, solicitation or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Posted by Caitlyn Diamond at 8:23 AM 0 Comments

Tuesday, November 01, 2011

Bars Over Bling In India

The demand for gold fell in India during the peak festival season over the past one month as high inflation and tight household budgets dented consumer spending according to the World Gold Council. The council also said that sales of bars and coins maintained the same volume both in the organized sector--sold through banks and post office outlets--and the unorganized sector, such as jewelers.

The shift towards the purchase of more coins and bars, traditionally smaller in quantity than jewelry could be an indication that more consumers wanted to buy at least some of the precious metal as a long term investment.

Traditionally, gold sales in the world's largest consuming nation are strongest during this period as it is considered auspicious for purchases. This year, the festival season began in the first week of October and culminated with Diwali, the festival of lights, on Oct. 26. The largest purchases during this period usually happen on Guru Pushya Nakshatra, or the day of auspicious ventures, which fell on Oct. 20, and on Dhanteras, celebrated on Oct. 24.

"Overall, the market reported a reduction in demand compared to last year," the World Gold Council said in an issued statement.
The council didn't specify gold sales volume for the period, but is likely to give the detailed statistics in late November as well as its outlook for the year ahead.

"Large jewelers who we spoke to reported similar or slightly lower levels of sales than the previous year. The overall market though reported a fall in jewelry in volume terms," the council said.

The council said that buying sentiment was muted because of tighter household budgets, high inflation as well as expectation that gold prices could fall post the festival season if the Indian rupee strengthens against the U.S. dollar.
India imports nearly all its annual gold requirement and, therefore, local prices are heavily influenced by the currency exchange rate. The rupee has depreciated about 11% against the dollar since April and was quoting at 48.87 to the dollar Monday.
Posted by Caitlyn Diamond at 8:25 AM 0 Comments

Sunday, October 30, 2011

Acid Testing For Authenticity

Gold is one of the most popularly traded metals on an international basis and now more than ever, eyes are focused on the precious metal. While other investments have incurred losses due to the uncertainty and upheavals in the market, gold has remained fairly stable. Gold has become one of the most reliable investments available today. It has become the top choice of investors because of its ability to make money. People opt to invest in gold when they come to know and understand the unique facts about gold. But there are times when one finds that they have bought a fake metal when it is tested for authenticity.  This is a risk associated with gold as an investment and can lead to huge losses.

A gold buyer can check gold purity at home without much trouble. The acid test is the most popular of the several methods used for gold testing. A number of acids are used in this test but the most common are nitric acid and hydrochloric acid. When acid methodology is used, the sample will change colour to green if it contains copper and will not react at all if it’s pure gold.

A local chemical lab or a chemical supplier can be used to procure the ingredients to perform this test. In addition, people can also buy a dropper along with the acids to make their handling easier. The dropper is very useful during the testing because the acids are corrosive and hazardous in nature. For safety reasons, people should utilize protective clothing. In order to perform the test, people need to make a scratch on the gold sample which has to be tested.

Ten seconds should be given to allow the sample to react to the acids after they have been applied. The sample should be cleaned properly to remove the chemicals remains of the acids. When people have to do a retest, this should be done immediately. Otherwise, the leftover residue might create confusion and not give discernible results. The sample can be washed with water for proper cleaning.

Professionals who offer gold assay services to the public make use of this particular method for gold testing. Both, a gold buyer and refiner can use this acid testing method for checking their gold purchases. When people wish to test authenticity of gold which they are purchasing, it is better to use the services of a well reputed refiner or tester. Premixed acid kits are also available for people who wish to avoid handling acids. These kits are available on the internet and can be used by amateurs. When you apply it on your gold, you will discover how accurate the gold acid test can be.
Posted by Caitlyn Diamond at 11:10 PM 0 Comments

Friday, October 28, 2011

Gold Stocks Push TSX

Gold stocks pushed the Toronto stock market slightly higher Friday while commodity prices stepped back as relief over an agreement to deal with the European debt crisis faded.

The S&P/TSX composite index was 25.87 points higher to 12,491.31 while the TSX Venture Exchange was off 2.27 points to 1,612.53.

The Canadian dollar was down 0.52 of a cent to 100.36 cents US after closing above parity with the American currency Thursday for the first time since Sept. 20.

U.S. markets were also weak as the Dow Jones industrial index stepped back 18.61 points to 12,189.94. The Nasdaq composite index was down 8.8 points to 2,729.83 and the S&P 500 index lost 4.41 points to 1,280.18.

Global stock markets racked up solid advances Thursday after eurozone leaders unveiled a plan to cut Greece’s debt, increase the firepower of the continent’s bailout fund to €1 trillion euros and strengthen the region’s banks, partially so they can sustain deeper losses on Greek bonds.

The TSX jumped 279 points while the Dow industrials surged 339 points.

However, investors stepped back Friday after analysts raised questions about the lack of detail in the plan.

Confidence was further undermined after Italy saw its borrowing costs rise in a sale of €7.9 billion in sovereign debt. The interest rate demanded by investors to lend the Italian government 10-year money topped six per cent, surpassing the 5.86 per cent rates paid a month ago.

Italy has seen its borrowing costs rise under pressure from Europe’s sovereign debt crisis. The European Central bank for weeks has been buying Italian bonds to keep rates at manageable levels.

The gold sector was ahead 0.74 per cent while December gold was $5.70 lower to US$1,742 an ounce. Goldcorp Inc. improved by 95 cents to C$48.80 while Barrick Gold Corp. fell 99 cents to $49.60.
Posted by Caitlyn Diamond at 12:02 PM 0 Comments

Tuesday, October 25, 2011

Gold Set For A Nice Ride

The growing optimism over the ability of European to step in and address the overseas debt crisis has gold poised for a third consecutive daily rise.

European leaders are set to meet on Wednesday with plans in place for Greece's debt to be reduced, bail-out packages for the European banks, and the euro zone's EFSF rescue fund to be increased to provide partial insurance for the sovereign bond markets.

Uncertainty about just how close European Union leaders will come to solving the debt crisis kept many markets trading quietly and gold was no exception.

Spot gold was last up 0.4 percent on the day at $1,658.40 an ounce, having risen by 2.5 percent over the last three trading days, its best three-day performance in a month, although this month, it has underperformed most major markets.

Silver rose by 0.3 percent to $31.75 an ounce, on course for its third straight daily rise.

Options on U.S. silver futures expire on COMEX on Wednesday. Most open interest centers on put options -- which give the holder the right, but not the obligation to sell metal at a pre-determined price by that date -- at $32.00 an ounce and on call options -- which give the holder the right but not the obligation to buy metal -- at $31.00.

Platinum was up by 0.8 percent at $1,550.49 an ounce, also having risen for three days in a row, marking its largest three-day gain since mid-August.

Platinum has fallen by more than 12 percent this year, as concern has grown about the impact to car demand, particularly in Europe, from the euro zone debt crisis. Europe is home to the world's largest market for diesel-fueled vehicles, which require a higher loading of platinum in their catalytic converters.
Posted by Caitlyn Diamond at 8:25 AM 0 Comments

Monday, October 24, 2011

Gold Is Still The Bright Spot

Gold rose for a second day on concerns about the European debt crisis and monetary policy in the U.S. has increased the demand for the metal as a protection of wealth and safe haven investment.

European leaders have ruled out tapping the European Central Bank’s balance sheet to boost the region’s rescue fund and outlined plans to aid banks. Federal Reserve Vice Chairman Janet Yellen said on Oct. 21 that a third round of large-scale securities purchases may become warranted to boost the U.S. economy.

Gold for December delivery gained $21.60, or 1.3 percent, to $1,657.70 an ounce by 8 a.m. on the Comex in New York. Prices slipped 2.8 percent last week. Immediate-delivery gold was 0.9 percent higher at $1,657.13 in London.

Bullion is in the 11th year of a bull market and futures reached a record $1,923.70 an ounce on Sept. 6 as investors sought to diversify away from equities and some currencies. The metal is up 17 percent this year.

Crisis Summit
Europe’s 13th crisis-management summit in 21 months also explored how to strengthen the International Monetary Fund’s role. The leaders excluded a forced restructuring of Greek debt, sticking with the tactic of enticing bondholders to accept losses to help restore the country’s finances. Another summit will be held in two days.

Gold imports by India, the world’s largest bullion consumer, may decline by as much as 30 percent this month as higher prices weaken demand, Prithviraj Kothari, president of the Bombay Bullion Association, said in a recent interview from Mumbai. Imports may be 70 metric tons to 80 tons in October, compared with 100 tons a year earlier, he said.

Silver for December delivery rose 1.2 percent to $31.555 an ounce. Palladium for December delivery was up 1.9 percent at $629.95 an ounce. Platinum for January delivery gained 1.9 percent to $1,538.60 an ounce.
Posted by Caitlyn Diamond at 7:31 AM 0 Comments

Saturday, October 22, 2011

Weaker Dollar Pushes Gold Higher

A weaker dollar and the growing optimism over the debt crisis in Europe drew some investors into the market, the price of gold and the precious metals focus climbed. On Friday, gold rose for the first day this week.

Some investors buy gold on the philosophy that the metal holds its value better than most other assets during economic turmoil including the dollar. For years gold has been considered the safe haven currency. But some market participants are still wary of gold after a sell off last month but the overall history of gold has always been positive. They forecast a price of $1,800 per ounce by the year's end.

Gold futures for December delivery gained 1.4 per cent to settle at $1,636.10 an ounce at 1:46 p.m. on the Comex in New York, the biggest advance since Oct. 10. Still, the metal dropped 2.8 per cent this week, the first weekly loss in three.

Bullion slipped to $1,604.70 yesterday, the lowest since Oct. 5.

Bullion is in the 11th year of a bull market and futures reached a record $1,923.70 on Sept. 6 as investors sought to diversify away from equities and some currencies.
The metal has advanced 15 per cent this year.

Silver futures for December delivery rose 3 per cent to $31.193 an ounce, the biggest gain since Oct. 10. The metal has gained 3.7 per cent this month.

On the New York Mercantile Exchange, platinum futures for January delivery advanced 1.3 per cent to $1,509.20 an ounce, rising for the first time this week. Palladium futures for December delivery jumped 5.8 per cent to $618.25 an ounce, the biggest gain since Nov. 18.
Posted by Caitlyn Diamond at 7:26 AM 0 Comments

Friday, October 21, 2011

Decade Long Hot Streak

Most people in the industry know that gold has been on a decade-long hot streak, but it’s interesting to understand how great and sustained the increase has been.
The price of gold itself quintupled in value against the dollar from April 2001 to its all-time high in August of $1,913 per ounce. Even though prices have cooled to around $1,600 per ounce, gold is still priced much higher than 10 years ago, when gold prices stood at just $280 an ounce.

Unlike other precious metals like platinum, silver and copper, which have industrial uses, gold is used only for accumulation and investment. Gold has been criticized by billionaire investor Warren Buffett in the past: "You can fondle [gold], you can polish it, you can stare at it. But it isn't going to do anything... I'd bet on a good producing business to outperform something that doesn't do anything."

So why is gold considered so valuable?

The main reason: It's been recognized for centuries as a limited form of currency, able to withstand economic pressures that paper currency cannot.

Gold is typically used as a safe haven during times of inflation, weak currency, economic instability and uncertainty or war. While we don’t have high levels of inflation right now, it is a looming threat that many fear is unavoidable.
With that said, let's look at some of the main reasons why gold prices have been so high lately:

When the dollar is weak (as it has been for almost a decade), many investors trade their dollars for gold as it better preserves its intrinsic value. That's because it's a limited resource and a medium of exchange that can't be replicated or reprinted like paper money..

Because gold is valued in dollars, a declining dollar value actually means the price of gold goes up. For example, let's say for illustration purposes gold is worth $1 per ounce. If the dollar falls 10% in value, you'll need $1.10 to buy the same ounce of gold because your dollar has less purchasing power; thus gold would then be worth $1.10 per ounce.
Posted by Caitlyn Diamond at 10:12 AM 0 Comments

Thursday, October 20, 2011

Gold Scams

If you’re like us, you’re surprised these Cash-For-Gold and travelling roadshow scams and predators are still around considering the options available today. At KMG Gold, we're determined to educate the consumer so they can make the wisest decision possible.

Walking around the corner or even outside the city limits to sell gold coins and used jewelry for cash seems may seem appealing to some, it is definitely not the best idea. Businesses that provide cash for gold pay pennies for the true value of gold.

If individuals absolutely must sell their gold items for cash, they should be aware that the price of gold is only a small factor in the offer price provided by these operations. A person may make a profit on a piece of jewelry or a coin purchased ten years ago just because the item is worth more than what was paid for it. The buyer in turn makes their money by reselling the item to a refinery. You have the option of dealing directly with the refiner hence cutting out the middleman.

Jewelry stores significantly mark up the price of gold items so they can make a profit. When a piece of gold jewelry is traded for cash, the offer received is not based on what the item is worth in metal value, it is based on how the store will use the item. If the gold piece is sent off somewhere to be melted, the store will receive the value is based on the melt weight.

With the high price of gold, it pays to be informed about the industry and the different transactions available. The more you know, the money may end up in your pocket and not theirs.
Posted by Caitlyn Diamond at 7:34 AM 0 Comments

Thursday, October 20, 2011

Gold Down But Still A High

The spot gold price was down slightly in Europe as uncertainty over the euro-zone continues to weigh on investor sentiment ahead of an eagerly awaited summit in the region at the weekend. The spot price of gold was $1,651.40 a troy ounce, down 0.2% on the day.

"The price of gold has not really profited from the growing uncertainty," instead moving lower with assets seen as relatively risky and trading inversely to the dollar, seen as a refuge in times of uncertainty, Commerzbank said in a press release. 

The bank's analysts argued, though, that there "would certainly be grounds for a rise in price; it is becoming increasingly clear that a fast and comprehensive solution to the euro zone debt crisis will not be found at the EU summit this weekend."

They forecast a price of $1,800 per ounce by the year's end.

Dennis Gartman, an independent market consultant pointed to the metal's slow recovery from the late September lows as a sign that prices may continue to struggle. Since toppling 20% from an all-time high at $1,920.94 on Sept. 6 to a two-and-a-half month low at $1,533.23 on Sept. 26, the metal has only risen around 8%.

"Given the severity of the break in mid-September, if the gold market was still technically healthy it should have bounced sharply back, regaining that which it had lost rather swiftly," said Mr. Gartman.

"Taking twice or three times as long to regain only a third or so of what had been lost seemed at least awkward and at worst bearish," he added.

In other metals, spot silver was down 1.0% at $31.702 per ounce, spot platinum was flat at $1,527.20 and spot palladium fell 0.3% to $616.75 per ounce.
Posted by Caitlyn Diamond at 7:30 AM 0 Comments

Wednesday, October 19, 2011

Doing The Right Thing With The Wrong Motives Only Turns Out Bad

Fortunately, we live in a world where many people like to give with an open heart to help others in need. But unfortunately, that also means we've created a climate that's ripe for fake charity scams and scam artists to step in and take advantage of good intentions. They know they can tug at our heartstrings and walk away with the cash. But doing the right thing with the wrong motives will only turn out bad.

In the aftermath of a natural disaster or as we draw close to the holiday season, donating to a charity can sometimes bring much needed relief to victims in need. But not every charitable opportunity is on the up and up. Scammers preying on people's emotions and desire to help are so plentiful that its difficult to determine what is real and what isn't. And, this is the big one, what will benefit the one’s in need the most.

Too often, especially during this time of the year, we see businesses and organizations offering a portion or proceeds of their business if you use their service or buy their product. In some cases the “charitable” portion has been quietly hidden in the price.

We have to ask ourselves, would the organization give to the charity even if we didn’t participate? Is my business support really going to go towards making a difference? The whole concept of charitable giving is to, well give without some type of limitations placed.

Some businesses will raise their price to cover their so called gift, while others will lower their service level to make up the difference.
Sometimes you have to ask yourself if dealing with a particular organization that claims to give is really going to follow through with their promise or is it a just a way to grab more business. Don’t get drawn in by letting these operations pull on your heartstrings.

When it comes to selling precious metals, one has to take good hard look at the offer they receive from an organization. Is the amount being offered fair? Is that amount with a charitable donation the best use of the item you are considering?

As an example, if a gold ring is worth $100 in metal value and the organization is offering to purchase it for $30 plus expecting a $10 donation that leaves you with a total of $40 less the donation amount. You still walking away with only $30.

If another organization offers $70 for the same ring, you can make still more substantial donation and have more money in your pocket. 
In precious metals like gold, silver and platinum, If possible, get several quotes to ensure you are getting the best deal possible and the organization is true to their word.

There's always going to be unscrupulous people that try to get in the middle of the flow of money to charities.  Making sure it's an actual charity still doesn't always mean they are going to do great things, but at least make sure it's not an individual walking away with your money and your good intentions.
Posted by Caitlyn Diamond at 7:47 AM 0 Comments

Tuesday, October 18, 2011

Mint Unveils Five New Commemorative Coins

by Rachel Man

The Royal Canadian Mint has capped off the celebration of Parks Canada's centennial year by unveiling five new commemorative circulation coins which immortalize Canadians' pride in their legendary natural heritage and capture their trademark passion for the great outdoors. The commemorative circulation coins unveiled by

Canadian government officials and representatives of Parks Canada and the Mint, at a public ceremony hosted at the Canadian Museum of Civilization in Gatineau, Quebec. The collection includes: the 2011 Parks Canada Centennial one-dollar circulation coin; the 2011 Boreal Forest two-dollar circulation coin; and three new 25-cent circulation coins (half of which will be coloured) featuring the Orca, Peregrine Falcon and Wood Bison. The 2011 Parks Canada Centennial one-dollar coin will begin circulating in the coming weeks, followed by the remaining 2011 commemorative circulation coins later this year, and in early 2012.

"The Royal Canadian Mint is proud to help Canadians celebrate their country's legendary natural heritage with five new commemorative circulation coins honouring our great outdoors and a century of nature conservation by Parks Canada," said Ian E. Bennett, President and CEO of the Royal Canadian Mint. "I am very pleased that Canadians of all ages will be able to collect these coins as keepsakes of their fondest memories of our national parks, our forests, and our precious wildlife."

"This new series of commemorative circulation coins from the Royal Canadian Mint captures the essence of Canada's natural, historical and cultural treasures," said the Honourable Peter Kent, Canada's Environment Minister and Minister responsible for Parks Canada. "By creating the world's first national parks service, Canada has made nature conservation a prized Canadian value and inspired countries around the world to protect their unique wilderness regions."

The Mint will invite the public to trade their loose change to obtain the one-dollar Parks Canada centennial circulation coin at its boutiques in Ottawa, Winnipeg and Vancouver. Parks Canada will also offer it in a face value coin exchange at many national park and historic site locations across Canada. For more details, visit www.pc.gc.ca.
Posted by Caitlyn Diamond at 8:10 AM 0 Comments

Monday, October 17, 2011

Gold Steady In Early Trading

Gold was steady on overseas early Monday, after posting its biggest weekly gain since early September, as investors await concrete steps to tackle the euro zone debt crisis that could come out of a European Union summit this weekend.

Finance ministers and central bank governors of the Group of 20 major economies said they expected the Oct. 23 summit to "decisively address the current challenges through a comprehensive plan".

Many investors have stayed away from gold given market turbulence in the past few months caused by the deepening euro zone debt crisis, the fight over raising the US debt ceiling and fears that the global economy would plunge into another recession.

Spot gold edged up 0.2 per cent to $1,682.39 an ounce by 0320 GMT, after rising around 2.5 per cent in the previous week.

US gold inched up 0.1 per cent to $1,684.70. "Gold has not been showing its safe haven property in the past few weeks," said Ong Yi Ling, an analyst at Phillip Futures in Singapore.

"If we see risk assets continue to rally with concrete steps in Europe in place, gold will have the potential to break the $1,700 resistance."

Managed money in US gold futures and options raised their net long positions for the second time in the past 10 weeks in the week ended on Oct. 11, data from the US Commodity Futures Trading Commission showed.

Gold bar premiums in Hong Kong eased slightly from last week, as shipments ordered over the past week or so started to arrive.

The buying interest softened as prices have rebounded from the end of September when prices dipped well below $1,600.

"People are waiting for more information from Europe by the end of the month," said a Hong Kong-based dealer, "The shipments have released the pressure on supply, and the premium has fallen to about $2."

A second dealer reported premiums between $2.50 to $3.50 above spot prices, from $3 to $4 last week.

"On the Asian side, $1,650 is an attractive level for physical buyers," he said.
Posted by Caitlyn Diamond at 12:37 AM 0 Comments

Monday, October 17, 2011

Triple Demand In Hong Kong Opens New Market

Today, Hong Kong’s Chinese Gold & Silver Exchange Society, a century-old bullion house, started trading gold quoted in yuan, boosting the city’s status as an offshore hub for the currency.

The contract may generate as much as HK$6 billion ($770 million) in trades a day, exchange President Haywood Cheung said in an Oct. 14 interview. Daily bullion trading volume at the society, which has 171 active members, has jumped to HK$136 billion this year from last year’s HK$31 billion on appetite for gold as a haven from stock declines, he said.

“There’s triple demand for this yuan product,” said Cheung on Oct. 14. “Investors can enjoy the bull market in gold, the yuan’s appreciation and hedge gold denominated in other currencies against the yuan.”

Chinese Vice Premier Li Keqiang pledged the nation’s support for yuan business in Hong Kong two months ago. The city’s richest man, Li Ka-shing, sold Hong Kong’s first renminbi shares in April and the city’s bond sales in the currency have more than tripled this year. Yuan deposits in the former British colony rose 93 percent this year to a record 609 billion yuan ($96 billion) in August.

“It’s part of a larger trend in Hong Kong to increase investments priced in renminbi,” said Zhang Qiang, an analyst in Shanghai at Haitong Futures Co., China’s largest futures brokerage by registered capital. “It’s a good proposition for investors who want exposure to both gold and renminbi, however, this would depend largely on the two moving in tandem.”
Posted by Caitlyn Diamond at 12:25 AM 0 Comments

Saturday, October 15, 2011

Another Positive Outlook

A weekly gold survey by Bloomberg revealed that traders have turned the most positive on the yellow metal in three months. The latest results showed that 88% of respondents expect the price of gold to rise next week – the highest level since mid-July.

The positive sentiment was attributed to ongoing concerns over “Europe’s debt crisis, slowing growth and a bear market in equities,” according to Bloomberg.

Twenty-two of 25 people surveyed by Bloomberg expect the metal to rise next week, the highest proportion since mid-July. Prices rebounded 9.2 percent since reaching a two-month low at the end of September and investors are adding to their holdings in gold-backed exchange-traded products for the first time in a month, according to data compiled by Bloomberg. Traders also expect gains in copper, sugar, corn and soybeans, surveys show.

Gold slumped as much as 20 percent since reaching a record $1,923.70 an ounce on Sept. 6 as investors sold the metal to cover losses in other markets. As much as $4.2 trillion was erased from the value of global equities in the past month on mounting concern that economies will tip back into recession and European lawmakers will fail to prevent sovereign defaults. The last time traders and analysts were this bullish, bullion surged 21 percent to an all-time high within eight weeks.

"Like always, the big picture remains positive,” said Michael Gupton, founder and president of KMG Gold. “The supply-demand fundamentals are in place and everything still looks good.”

COMEX gold futures, per the December 2011 contract, pared their gains as morning trading progressed on Friday. The yellow metal hit an intra-day high of $1,685.50 earlier, but was up just $3.00 at $1,671.50 per ounce as of 10:55am ET
Posted by Caitlyn Diamond at 7:48 AM 0 Comments

Friday, October 14, 2011

Gold Rises Again

In the opening markets, gold rose on track to post its biggest weekly gain in more than a month. There is still uncertainty in the markets with the anticipated G20 meeting whose agenda will be dominated by the euro zone debt crisis and steps to tackle spreading issues.

Spot gold rose 0.4 percent to $1,671.99 an ounce at 1139 GMT, from $1,666.20 late in New York on Thursday.

Reflecting growing concern about the region's debt crisis, ratings agency Standard and Poor's downgraded the long-term credit rating of Spain by one notch, just as policymakers get ready to pressure Europe to act swiftly to tackle its financial woes at a weekend meeting.

Although investors are not expecting any concrete resolutions to the debt crisis, they hope it will provide an opportunity for officials to agree on the outlines of a plan in time for a European Union summit on October 23.

"Like always, the big picture remains positive,” said Michael Gupton, founder and president of KMG Gold. “The supply-demand fundamentals are in place and everything still looks good.”

Also helping boost gold was a fall in the dollar, which dipped against a basket of currencies. A weak dollar makes commodities priced in the U.S. unit cheaper for holders of other currencies.

Gold prices are up 2.3 percent so far this week, on track to post its strongest weekly gain since early September.

U.S. gold gained 0.4 percent to $1,674.80 an ounce, while spot silver rose 0.2 percent to $31.85 an ounce.
Posted by Caitlyn Diamond at 7:34 AM 0 Comments

Thursday, October 13, 2011

Demand Strong In Asia and India

Physical purchases in China and India, ahead of the key gold-buying wedding and festival season, have been in decent volumes, and are expected to continue to escalate, traders and analysts said.

As of this morning, spot gold fell slightly in Europe as the dollar came back in a rebound. According to the London Price Fix, the spot price of gold was $1,672.20 a troy ounce, down from bid levels of $1,674.50 late in New York on Wednesday.

Some insiders in the market feel the precious metal has found its comfort level around the key $1,700 per ounce region in recent days. The current price has been helped by renewed physical interest from Asia ahead of the festival season in India. 

Still, bullion also continues to trade with riskier assets, while it moves against the U.S. dollar. Gold is priced in dollars, so it tends to fall when the dollar gains, making it more expensive to purchase in other currencies.

The dollar gained against the euro Thursday as concerns lingered about Europe's debt problems and slowing global growth, despite recent signs of progress on tackling the European crisis.

Analysts said minutes of the Sept. 20-21 U.S. Federal Reserve Open Market Committee meeting, which revealed a long discussion of what steps could be taken to give the economy further support, should help to provide some support to prices.

In other metals, spot silver had fallen to $32.110 per ounce from about 432.60 late in New York. The market, which is thinly traded and therefore tends to record wider intraday moves than its sister metals, has been range-trading between $31.130 per ounce and $33.050 since Monday.

Meanwhile, spot platinum was at $1,534.25 per ounce, from $1,550 and spot palladium was at $601.25 per ounce, from $613.00.

One London-based trader said the platinum-group metals, which tend to trade in tandem with base metals because of their industrial applications, have held up well given a sharp slide across markets on the London Metal Exchange. In mid morning, LME three-month copper traded down 1.7% at $7,397 a metric ton.
Posted by Caitlyn Diamond at 7:25 AM 0 Comments

Wednesday, October 12, 2011

Gold Gains Again

Gold gained to a two-week high in New York as concern over Europe’s debt woes spurred demand for the metal as a protection of wealth.

Slovakia, the only country in the 17-nation euro area that hasn’t approved a planned reinforcement of the European Financial Stability Facility rescue fund, is headed for a second vote after failing to approve the package. Physical gold demand was “decent” yesterday, UBS AG said today in a report.

Gold for December delivery gained as much as $28.90, or 1.7 percent, to $1,689.90 an ounce, the highest price since Sept. 23, and was at $1,685 by 8:02 a.m. on the Comex in New York. Immediate-delivery gold was 1.3 percent higher at $1,684.03 in London.

The Diwali religious festival later this month in India, the biggest bullion buyer, and then the traditional wedding season, may increase demand.

Gold is in the 11th year of a bull market, the longest winning streak since at least 1920 in London. Futures reached a record $1,923.70 on Sept. 6 as investors sought to diversify away from equities and some currencies. The metal is up 19 percent this year.

No-Confidence Motion
The Slovakian rejection also triggered the fall of Prime Minister Iveta Radicova’s government, as the vote yesterday was tied with a no-confidence motion. European Union and International Monetary Fund officials indicated Greece will get an 8 billion-euro ($11 billion) loan next month, saying the nation has made “important progress.”

Silver for December delivery rose 2.6 percent to $32.83 an ounce. Palladium for December delivery was up 0.4 percent at $607 an ounce. Platinum for January delivery gained 2 percent to $1,549.90 an ounce.
Posted by Caitlyn Diamond at 7:51 AM 0 Comments

Tuesday, October 11, 2011

Investors Wait For Vote

Gold declined from a two-week high as investors awaited a vote in Slovakia to approve the European bailout fund.

Bullion for immediate delivery shed as much as 0.6 percent to $1,666.65 an ounce, after climbing to $1,684.63 an ounce, the highest level since Sept. 23. It traded at $1,668.25 at 4:10 p.m. in Singapore. The metal jumped 2.4 percent yesterday, the most since Sept. 8. Futures for December were little changed at $1,669.90 an ounce.

Slovakia is the only country in the 17-nation euro area that hasn’t ratified a planned reinforcement of the European Financial Stability Facility. The nation’s four-part coalition yesterday failed to resolve a dispute with rebel lawmakers, threatening to delay measures to stem Europe’s debt crisis.

U.S. stock futures declined and the euro was little changed after reaching a three-week high against the dollar yesterday as Slovakia’s parliament prepared to vote. German Chancellor Angela Merkel and French President Nicolas Sarkozy pledged at the weekend to deliver a plan by Nov. 3 to stem the debt crisis.

“We’re in the peak seasonal demand period now and that should also help buoy gold prices,” said Wang, who was ranked fifth in a Futures Daily and Securities Times poll of China gold analysts.

In India, the world’s largest consumer, the peak-demand period began in August with Eid, continues in October with Diwali, and is followed by the traditional wedding season. In China, the second-biggest buyer, demand typically picks up during the National Day holidays at the start of October through till the Lunar New Year in January.

Cash silver lost 0.9 percent to $31.8237 an ounce after climbing 1.5 percent to $32.565 an ounce. Spot platinum was little changed at $1,521.75 an ounce, while palladium dropped 0.9 percent to $610.13 an ounce.
Posted by Caitlyn Diamond at 8:36 AM 0 Comments

Saturday, October 08, 2011

Still A Golden Opportunity

Gold prices rose over $100 an ounce for the third-quarter settling the other day at $1,622.30. I’ll be honest, the 6.5% gain was by no means a cakewalk for anyone interested in the precious metals market and investors. Remember last month? Some of us still have the taste of that $1900 price from just last month.

The uncertainty in the markets has once again refueled the age long debate over the precious metal's position as a safe haven investment. I sometimes laugh when people bring up the doom and gloom of September 10% sell-off, claiming that as the sign the bubble burst. But I couldn’t disagree more.

Gold has been coveted since Biblical times and a few days of down prices will not affect its real value. Even the last quarter’s price increase was better than most equities out on the open market.

To be honest, I don’t believe there will be a huge rally either in the early days of this next quarter but I’m still hearing talk from some market insiders that we’ll see gold rebounding by year-end up to levels between $1,800 - $2,000 an ounce.

The demand driving the precious metal higher is not Western centric. We see gold activity influenced more by technical levels, whereby a consolidation move could be easily fueled into a major correction or crash. But what's easily forgotten is the strength in Asian demand. And of course there's China, a key demand player that has gone from net neutral to a positive demand effect of 300 tons per years according the World Gold Council. China accounted for 6% of total global demand in 2000 and rose to 18% in 2010.

According to the World Gold Council, central banks imported 198.4 tons of gold in the first half of 2011 versus two years ago, they were selling 450 tons a year.

Of course, any gold outlook that doesn't address currency would be remiss. As Europe continues to sort through it's debt crisis, we'll likely see more currency fluctuations. The more instability in the EU, the faster the flight to safety into the US dollar becomes.

The only real advice we can give is to watch the market price, educate yourself and check around at the prices different operations are offering. Right now there is a huge gap in what businesses are paying for used gold and it pays to do your homework.
Posted by Caitlyn Diamond at 4:33 PM 0 Comments

Friday, October 07, 2011

Shortage In Vietnam

On several days recently gold shops in Hanoi and Ho Chi Minh City have sold out their supplies of the precious metal, according to state media reports, as anxious consumers have rushed to protect themselves against Asia’s highest inflation rate.

Vietnam’s Communist government is keen to tackle inflation, restore confidence to the currency and stabilize the shaky banking sector. But it is also concerned that too much tightening may hit economic growth in this export-dependent country.

Officials must find a delicate balance between growth and inflation at a time when their room for maneuver has been severely limited by the global slowdown and their own policy mis-steps and about-turns, which have seriously undermined investor confidence.

Part of the problem is communication, or the lack thereof. Thursday’s move by the central bank to increase a key inter-bank lending rate from 14 per cent to 15 per cent should have been a reassuring signal of the government’s commitment to the stay the course when it comes to tight monetary policy.

But, as usual, the decision was published with minimal explanation to either bankers or the wider public, leaving many scratching their heads again as they tried to divine the motive behind the latest decree from Vietnam’s less-than-transparent rulers.
Posted by Caitlyn Diamond at 8:13 AM 0 Comments

Friday, October 07, 2011

Gold - Strong Alternative

Gold will probably stay strong due to a lack of alternative “safe havens” for investors operating in a slowing global economy, top performing commodity fund managers said in a recent interview.

"We consider the current weakness in gold as temporary and also the slump in commodity prices should come to an end soon," said Kurt Hug, an investment adviser for the Antares Precious Metals Fund.

The gold price has risen by nearly 17 percent so far this year, having hit a record $1,920.20 an ounce in early September before correcting sharply downwards. It was around $1,655 an ounce on Friday.

The fund came third in the Lipper Global commodity sector rankings in the third quarter of 2011 by keeping a high percentage of "strategic liquidity" in Swiss francs in anticipation of "a severe, but short-lived commodity shock."

Fund research and analysis organization Lipper, a Thomson Reuters company, covers more than 108,000 funds. The commodity segment covers funds investing in both commodities futures and natural resources-related equities.

Also staying defensive was Paula Bujia, manager of the $330 million Schroders Gold and Precious Metals Fund, which came fourth. Steering clear of precious metals other than gold, and investing in mid-cap gold miners rather than seniors and juniors, helped her outperform, she said.

Those who are not worried about this type of inflation are petrified of deflation. But even in such a scenario, gold is still a better bet than any currency, according to the gold bugs.

If consumer prices were to fall by some 4 or 5 per cent, stock markets could plummet and the global banking system would be placed under great stain.
The price of gold could also fall, but probably not nearly as much, thereby preserving wealth and purchasing power.

Yet, others argue that a better strategy in a deflationary scenario is to invest in fast-growing industries. “People are very persuaded by crash and doom scenarios, and gold offers a cure for it. But there are other, more positive solutions. Invest in electric cars, recycling, renewable energy – these sectors are growing, and they hold massive potential,” says Chris Eibl, co-founder and head of trading of Tiberius Asset Management.
Posted by Caitlyn Diamond at 8:11 AM 0 Comments

Thursday, October 06, 2011

Gold Price Firm

Gold firmed in Europe on Thursday as a strong recovery in equity markets cut selling of the precious metal to cover losses elsewhere, and as physical buyers took advantage of lower prices to stock up. Keep checking the KMG Gold websites for updates on the price.

Spot gold was up 0.7 percent at $1,651.49 an ounce at 0910 GMT, extending the previous session's 1 percent gains. Trade is expected to be choppy ahead of a policy meeting and press conference from the European Central Bank later.

Concerns over the outlook for the euro zone, as the bloc wrestles with its stubborn debt crisis, were a key factor pushing gold to a record $1,920.30 an ounce last month.

"It is extremely hard to see where the solution will come from," said VM Group analyst Carl Firman. "I think (the euro zone authorities) will be forced into a solution, but the volatility is based around whether it will be sufficient, or another stop-gap."

"We need to see some more definitive news, and in the meantime, we will have a hell of a lot of volatility across the markets," he said.

Gold saw its biggest decline in nearly three years last month as pressurized selling to cover heavy stock market losses pulled prices more than 20 percent from record highs and prompted a period of intense volatility.

European equities extended the previous day's strong gains on Thursday on hopes officials will succeed in their efforts to support Europe's financial sector, while data raised optimism the U.S. economy might avoid slipping into recession.

ECB President Jean-Claude Trichet is expected to prepare the ground for a pre-Christmas interest rate cut at his final policy meeting and offer banks further protection against the euro zone's worsening debt storm.

The euro rose against the dollar and German government bonds fell on optimism over Europe's efforts to aid the financial sector, ahead of the ECB meeting.

ECB President Jean-Claude Trichet is expected to prepare the ground for a pre-Christmas interest rate cut at his final policy meeting and offer banks further protection against the euro zone's worsening debt storm.
Posted by Caitlyn Diamond at 4:54 AM 0 Comments

Wednesday, October 05, 2011

Our New Addition - Rachel Man

We are pleased to announce a new addition to the KMG Gold family. Rachel Man joins KMG Gold as our new account manager based in the Winnipeg branch.

“I was amazed at the depth of knowledge she has, her attention to detail and her commitment to client service,” Michael Gupton, President of KMG Gold stated.  “Rachel is a perfect fit for us.”

Rachel brings over half a decade of experience in the precious metals industry as well as an in depth knowledge of the gold and silver coin community. She has a keen interest in gemology, coins and military artifacts.

Rachel’s greatest strength is the way she puts the customer first. She is devoted to educate and inform each and every client she comes in contact with.  
When it comes to precious metals recycling, KMG Gold Recycling is Canada’s trusted authority, providing a tradition of excellence, high quality and unparalleled service and Rachel is a welcome addition.

In October of 2010, the Manitoba Chapter of the BBB presented KMG Gold with their inaugural Torch Award for Marketplace Excellence demonstrating ethics and integrity in the marketplace.  BBB Torch Award winners build trust, advertise honestly, tell the truth, remain transparent, honour their promises, and display integrity in all of their marketplace activities.  This prestigious award affirms KMG Gold as a trusted partner for Canadians wanting to get trusted estimates and best value when recycling their precious metals.

KMG Gold leads the gold and precious metals buying industry by making detailed information about precious metals, the current gold buying market environment, and other helpful tips for gold buyers and sellers available online at their website – www.kmggold.ca. 
With numerous drop off locations across western Canada, Ontario, and the western United States, KMG Gold is able to accept shipments from anywhere in either country. Precious metals can be dropped off or sent directly to any of these convenient locations in securely packed boxes, or using one of KMG Gold’s exclusive SecureShip™ Envelopes.

KMG Gold is also the first company in the highly publicized gold & metals buying industry to have partnered with the world’s largest insurance underwriter to offer shipping insurance for precious metal shipments from the consumer to their office, reducing any sense of risk.  Any metals shipped to KMG Gold using a SecureShip™ Envelope can be fully insured at half the cost of the competition’s shipping insurance – and KMG’s customers can be assured the value of contents contained in their packages is safe, even if the package is lost. No other metals buyer uses shipping insurance that offers this guarantee.

Contact us at 204.452.GOLD
Posted by Caitlyn Diamond at 9:07 AM 0 Comments

Tuesday, October 04, 2011

Gold Price Rises

Gold prices rose in Europe on Tuesday as fears that Greece could be heading for a default, potentially sparking a banking crisis in Europe, hurt stock markets and prompted investors to seek out assets seen as lower risk.

European shares fell 2.7 percent in early afternoon trade, while the STOXX Europe 600 Banking Index tumbled as much as 4 percent. World stocks hit a fresh 15-month low.

Spot gold was up 0.3 percent at $1,660.70 an ounce at 1117 GMT. German bunds, which are also seen as a relatively safe store of value, climbed along with gold.

Investors are still wary towards gold after it was caught up in a broad-based financial market rout in late September, which saw heavy selling of the metal to cover losses on other markets. Prices fell 20 percent from the record $1,920.30 an ounce hit early in the month.

"There is still potential for further slides should profit taking again set in. I'm not really convinced gold weakness is over," said Commerzbank analyst Eugen Weinberg.

"But gold is definitely living up to its status as a safe haven at the moment. That is very reassuring for investors."

Despite putting in its weakest performance in nearly three years in September, gold still managed to deliver its biggest quarterly gain of 2011 in the third quarter, and is up more than 15 percent so far this year.

This is even after some gains in the dollar, which has inched up 1.4 percent this year versus the euro. Gold is usually pressured by a stronger dollar, which makes it more expensive for other currency holders.

That traditional relationship has broken down since the credit crunch of 2008 as both the dollar and gold were targeted as stores of value. The dollar rose 0.2 percent against a currency basket on Tuesday, in line with gold.
Posted by Caitlyn Diamond at 7:04 AM 0 Comments

Monday, October 03, 2011

Honesty Is The Best Policy

The old Chinese proverb ‘Honesty is the best policy’ is often ridiculed in today’s business environment, but it’s crucial in ours. In some fields of business, it’s a worthless and extinct virtue. At KMG Gold, we know there is a close relationship between sincerity and truth and people can expect higher revenues in the business world if we combine them in reality.
A business that follows ethical practices is aware of the advantages that honesty can bring to the bottom line. After years of experience in the gold business, we know that customers want to know they have found an honest gold buyer.
You’ll find that people you conduct business with will show you far more respect if you employ the virtue of honesty. Any  business must develop a healthy reputation and a strong foundation. With the aid of ethical and honest practices, a business can prosper and succeed in any competitive environment. In this particular field, having a good reputation is valuable and can only be developed if people trust the the entire organization. This provides confidence and a boost to the business which can lead to building strong personal and business relationships.
A business can expect prosperity and success if it complies with honesty, sincerity and truth. If, instead of duping people,current gold dealers chose to carry out open and honest transactions, they could expect success in the long run, but few do.
Honesty holds a lot of benefits. If personnel practice honesty, we will all see a sense of pride. This sense of pride can lead to earning greater revenues because it offers a mental boost to the organization.
Furthermore, a vibrant, strong goodwill can be developed by any honest business. This is especially true in the case of precious metals. Word travels fast in this industry and it doesn’t take long for the public to see who is on the right side of their transaction.
This is and always will be the backbone of KMG Gold.
Posted by Caitlyn Diamond at 11:00 AM 0 Comments

Sunday, October 02, 2011

Gold Can Still Outshine Cash

Watching the price of gold dive in recent weeks as the eurozone crisis worsened and economic indicators turned particularly gloomy has led some to question the yellow metal’s status as a haven asset.
Investors may disagree on what its price should be or what portion, if any, of a balanced portfolio it should make up, but on one issue there is consensus – gold is all about fear.
With central bankers making good use of their printing presses over the past three years, many investors are increasingly concerned about uncontrollable inflation eating into their cash piles. “Governments do not really understand the long-term effects of printing so much money,” says Dylan Grice, a global strategist at Société Générale Cross Research Alternative View.
“Inflation will be OK if central banks can remove the excess emergency money at just the right time and in the right quantities. I just worry that they are massively overconfident in their ability to do this.” Gold, on the other hand, was created billions of years ago when stars collided in outer space. There is no more where it came from. “Gold may be a mere lump of dense, useless shiny metal, but it’s one which crackpot central bankers can’t print,” Mr Grice notes.
“Fiat currency is a store of value to the extent that people have faith in politicians and central banks. The problem is that trust has been eroded. Central banks are under tremendous pressure to print,” says Tim Price, director of investment at PFP Wealth Management.
This was evident recently when the Swiss National Bank announced it was prepared to buy unlimited amounts of foreign exchange to stop the Swiss franc appreciating further or, in other words, to print unlimited amounts of the franc and debase its currency. With the Swiss having resisted printing money during the crisis, while competitors expanded their monetary bases with abandon, investors have been selling their own currency for the stronger franc.
But Switzerland ended up with an overvalued currency, which was harming its economy and action had to be taken. The bank’s move will boost gold, argues Mr Grice, as it “merely narrow[s] the universe of honest destinations for flight capital with which gold has historically competed.”
Those who are not worried about this type of inflation are petrified of deflation. But even in such a scenario, gold is still a better bet than any currency, according to the gold bugs.
If consumer prices were to fall by some 4 or 5 per cent, stock markets could plummet and the global banking system would be placed under great stain.
The price of gold could also fall, but probably not nearly as much, thereby preserving wealth and purchasing power.
Yet, others argue that a better strategy in a deflationary scenario is to invest in fast-growing industries. “People are very persuaded by crash and doom scenarios, and gold offers a cure for it. But there are other, more positive solutions. Invest in electric cars, recycling, renewable energy – these sectors are growing, and they hold massive potential,” says Chris Eibl, co-founder and head of trading of Tiberius Asset Management.
The recent sharp fall in the price of gold – prompted by declining fears of a surge in inflation in the US and of a collapse in the US dollar – took many analysts by surprise, yet it has done little to alter the fundamentals behind gold’s appeal versus cash today.
Gold may be disliked by some for paying no income, but with the Federal Reserve promising interest rates of close to zero per cent for the foreseeable future, cash deposits are earning no interest either.
“With bank deposits, you’re also fully exposed to the creditworthiness of the bank. It seems unfair especially as in real terms you’re actually losing some 5 per cent per year due to inflation,” says Mr Price.
His portfolio is almost 30 per cent in “real assets”, mostly gold and silver bullion vehicles. But it is not enough, he says, and he is building up the positions. “Fiat money is being printed faster than we can try to protect its value. We’re trapped in an Alice of Wonderland situation, where we’re running just to stay still.”
While no one knows exactly how a Greek default would affect the euro and the other currencies, or quite what would have happened if the US Congress had failed to agree on a debt ceiling deal, the price of the yellow metal works in a different way. “Above all, its value does not depend on the creditworthiness of any government or financial institution, and that may yet prove very significant in the weeks and months ahead,” notes Julian Jessop, chief global economist at Capital Economics, a research group.
Unlike the value of sterling or the dollar, the gold price is not limited by economic and policy considerations. Should Greece default or the eurozone break up, the dollar is expected to be the currency that benefits most given its status as the world’s reserve currency, but even it would be seriously undermined by fears that the US economy would suffer from the fall-out. The ensuing scramble for gold would be likely to boost its price significantly.
An example from the 1930s is often cited by gold bugs as an illustration of gold’s superiority to fiat money. In the midst of the Great Depression, an increasingly desperate president Franklin D. Roosevelt took advantage of a wartime statute that had not been repealed to outlaw “the hoarding of gold coin, gold bullion, and gold certificates within the continental United States”. The possession of monetary gold by individuals or companies became illegal, with some minor exceptions. Those who owned gold had the choice of exchanging it for $20.67 per troy ounce at the Federal Reserve or face a fine of up to $10,000 or up to 10 years in prison.
The order had limited effect as most people could simply hide or take their gold abroad. But to some investors it is a telling example of the arbitrary measures governments can take in a crisis. And it is clear, they argue, that an investor would want to hold gold over cash in such a situation. Gold will retain value even if the entire monetary system collapses. Who knows which currencies will still be around?
Posted by Caitlyn Diamond at 9:43 AM 0 Comments

Saturday, October 01, 2011

Gold Ends Quarter On A High

Gold rose Friday on worries of a global economic slowdown, and the price of bullion notched its biggest quarterly gain of this year even after a sharp pullback from a record hit this month.

Gold posted a quarterly gain of 8 per cent – its biggest this year, despite a drop of 11 per cent for September – its largest monthly decline in three years.

For the day, gold finished higher as safe-haven buying resumed despite a rising dollar. Equities and industrial commodities fell after data showed manufacturing in China contracted for a third consecutive month in September.

“I think the correction has run its course. For the first time in quite some time, we actually bought some gold and platinum exchange-traded funds today,” said James Dailey, portfolio manager of the TEAM Financial Asset Management.

Spot gold was up 0.4 per cent at $1,620.60 (U.S.) an ounce by 2:55 PM ET.

U.S. gold futures for December delivery settled up 30 cents at $1,622.30 an ounce, with trading volume sharply below this week’s average as some bullion traders were away for the Jewish New Year holiday.

Gold, which fell this month during a broad selloff of riskier assets as investors worried about euro zone debt and a sluggish U.S. economy, remained 15 per cent below its record of $1,920.30 an ounce set Sept. 6.

Trade has been extremely volatile this month. The wide $400 trading range after the record on Sept. 6 has kept investors wary even as the correction from that high has lifted physical demand.

“In markets that have been shaken as badly as gold market has been shaken, it will take days, perhaps even weeks, before the bullish trend clearly reasserts itself, but we do believe that the margin clerk liquidation has probably run its course,” said independent investor Dennis Gartman.
Posted by Caitlyn Diamond at 6:41 AM 0 Comments

Friday, September 30, 2011

The Karat

Everyone has heard the term karat but few know the meaning or the original of the word. In the gold industry, karats is used to describe the purity of the gold used to make the piece. The word dates back to ancient Mediterranean and Middle Eastern civilizations that used carob seeds to measure the weight of gold.

The word carat is derived from the Greek word kerátion , which means “fruit of the carob.” Carob seeds were used as weights on precision scales because of their reputation for having a uniform weight. The other reason for the seeds use was that it was in order to keep regional buyers and sellers of gold honest, potential customers could retrieve their own carob seeds on their way to the market, to check the tolerances of the seeds used by the merchant. If this precaution was not taken, the potential customers would be at the mercy of "2 sets of carob seeds". One set of "heavier" carob seeds would be used when buying from a customer (making the seller's gold appear to be less). Another, lighter set of carob seeds would be used when the merchant wanted to sell to a customer.

As the softest metal in existence, pure gold is not the best for creating jewelry. Because of its softnesss. gold is often strengthened with zinc, copper, or silver. Rarely is pure gold used in the manufacturing of jewelry and the karat system is used to determine the concentration of its content.  

Most gold jewelry in the U.S. is 10, 14, or 18k. A piece that is 18k is 75 percent pure gold, making it the most valuable of the three. Even when pieces have equal weight, the item with the higher number of karats will be more valuable. An 18k gold item will contain more yellow in the colored tint. Though 14k is more popular in the U.S., 18k gold is purchased by most European consumers.

Just because jewelry is stamped 18K does not mean it is. Laws vary between countries in terms of ensuring that these stamps are accurate. The U.S. is just one country that may not pursue a manufacturer for using a misleading stamp. Some countries mandate that gold purity be verified by a third party before a piece of jewelry may be stamped.

Those who buy gold coins are familiar with 24k gold because it is often used to make modern bullion coins. However, since it is often too soft for jewelry-making purposes, 18k is usually the highest number found on jewelry, though 22k is also available.
Posted by Caitlyn Diamond at 8:18 AM 0 Comments

Thursday, September 29, 2011

Scams & Predators

If you’re like us, you’re surprised these Cash-For-Gold scams and predators are still around considering the options available today. At KMG Gold, we're determined to educate the consumer so they can make the wisest decision possible.

Walking around the corner to sell gold coins and used jewelry for cash seems may seem appealing to some, it is definitely not the best idea. Businesses that provide cash for gold pay pennies on the true value of gold.

If individuals absolutely must sell their gold items for cash, they should be aware that the price of gold is only a small factor in the offer price provided by the Cash-For-Gold groups. A person may make a profit on a piece of jewelry or a coin purchased ten years ago just because the item is worth more than what was paid for it. The buyer in turn makes their money by reselling the item to a refinery. You have the option of dealing directly with the refiner hence cutting out the middleman.

Jewelry stores significantly mark up the price of gold items so they can make a profit. When a piece of gold jewelry is traded for cash, the offer received is not based on what the item is worth in metal value, it is based on how the store will use the item. If the gold piece is sent off somewhere to be melted, the store will receive the value is based on the melt weight.

With the high price of gold, it pays to be informed about the industry and the different transactions available. The more you know, the money may end up in your pocket and not theirs.
Posted by Caitlyn Diamond at 11:45 AM 0 Comments

Wednesday, September 28, 2011

Gold Futures Gain

Gold futures gained the most in seven weeks as commodities and equities rallied amid optimism that European leaders will take steps to resolve the region's debt crisis.

The Standard & Poor's GSCI index of 24 raw materials surged as much as 3.6 percent, while the MSCI All-Country World Index jumped as much as 4 percent. In the previous three sessions, gold tumbled 12 percent, the most since 1983, on sales by investors to cover losses in other markets amid mounting concern that the global economy would slump.

"Gold is behaving like a classic commodity and is moving in tandem with the equity market," Adam Klopfenstein, a senior market strategist at MF Global Holdings Inc. in Chicago, said in a recently published interview. "The selloff was overdone."

Gold futures for December delivery gained $57.70, or 3.6 percent, to settle at $1,652.50 an ounce at 1:33 p.m. on the Comex in New York, rising the most since Aug. 8. Yesterday, the metal tumbled as much as $104.80 to $1,535, the lowest since July 8.

The precious metal has gained 16 percent this year, surging to a record $1,923.70 on Sept. 6.

"There is a small but growing group who believe this pullback will prove to be a good buying opportunity," Edel Tully, a London-based analyst at UBS AG, said in a report. "Gold needs to stabilize after suffering a good deal of reputational damage with recent wild moves."

Silver futures for December delivery advanced $1.56, or 5.2 percent, to $31.536 an ounce, the biggest gain since July 13. In the previous three sessions, the price tumbled 26 percent, touching a 10-month low of $26.15.
Posted by Caitlyn Diamond at 5:26 AM 0 Comments

Tuesday, September 27, 2011

Why The Drop?

There has been a lot of turmoil in the financial markets in the markets these days, but if there’s one investment that should be going up according to the experts, it’s gold. 

Gold has always been charged as the ultimate investment because it has been a "store of value." But the majority of the experts agree that gold is bound to keep going up as volatility rises, the gold bugs pronounce.

But the question floating around the investment atmosphere is, “Now that markets are struggling, why is gold on a slide?”

Several economists and market watchers seem to the answer. The word on the street is that people prefer to be holding cash as panic spreads across Europe. To get cash, they need to sell their investments including their gold holdings. If we go back to simple supply and demand concepts that explains the temporary price drop on gold.

“It shows you that at times of extreme stress, there is not a suitable substitute to liquidity and although gold is liquid by metal standards, in comparison to Treasurys, when you get this kind of flight to cash, then it really is cash that counts and that means U.S. dollars,” Credit Suisse analyst Tom Kendall said in a recent interview..

His point is quite valid, but he fails to mention any profit-making these investors may have cashed in on. It has been well documented that in recent years gold has been traded as an investment opportunity, rather than a store of value. So while investors were buying into the long-term strategy, big hedge funds and commodity traders were simply waiting for gold to hit a breaking point, just as they waited for metals such as silver to hit a breaking point back in April. As soon as one fund starts to sell, many more do.

It’s situations like this that prove, yet again, that gold is a safe bet. The current market situation demonstrates why some people keep buying and selling the precious metal over the long term. To make the most of any investment strategy you have to understand how or why the value moves.
Posted by Caitlyn Diamond at 8:57 AM 0 Comments

Monday, September 26, 2011

Gold Is A Victim Of Its Own Success

The price of gold was down again on Monday as investors traded the metal for the perceived safety of cash. "Essentially gold is a victim of its own success," said Edel Tully, a precious-metals strategist at UBS in London.

The price of spot gold fell to its lowest in two and a half months, and is now down 9% from the record high of $1,920.94 a troy ounce that it notched on Sept. 6. The price of spot gold was recently at $1,615.0/oz, down 2.4% from its close in New York on Friday.

“It’s a good time to sell,” said Michael Gupton of KMG Gold in Winnipeg. “It always is if you apply my Dollar Averaging concept,” Gupton explained referring to his upcoming publication, As Good As Gold.

Analysts said gold is suffering at the hands of investors who are cashing in on gold's recent bull run to shore up their books and cover losses elsewhere. Gold was one of the main beneficiaries during the turbulence in financial markets this summer and the growing aversion among investors toward risky investments.

Mr. Gupton added that the extent of the selloff was not surprising, and reflected the strong demand for cash amid a strengthening dollar. “Gold is a safe alternative and this action just proves my point.”

The price of silver was recently down 7.7% at $28.56/oz. It had earlier traded as low as $26.100/oz.

The price of spot platinum was 3.8% lower at $1,543.70/oz, while the price of spot palladium was down 1% at $625.50/oz.

Posted by Caitlyn Diamond at 8:01 AM 0 Comments

Sunday, September 25, 2011

Gold Vending Machines?

China has installed the country’s first gold vending machine in a busy shopping district in Beijing. Largest Gold producer and second largest to India in consuming, China becomes the sixth nation to open a gold vending machine for its people.

Gold vending machines are now operating in the US, UAE, Germany, Spain and Italy. According to reports, China is set to open vending machines, made by the same German company TG Gold Super Market that supplied machines to other countries.

Shoppers in the popular Wangfujing Street can insert cash or use a bank card to withdraw gold bars or coins of various weights based on market prices. The machine was launched Saturday by the Beijing Agricultural Commercial Bank and a gold trading company, the report said.

The machines will dispense gold bars weighing up to 2.5 kilograms and work just like the normal automatic teller machines (ATMs), cnr.cn reported, and citing sources close to the matter.

The machines can accept both cash and credit cards. The cash-for-gold machines will be on trial at Beijing’s upscale clubs and private banks during the initial period for security reasons. They plan to install an unspecified number of machines in secure locations such as gold shops and up market private clubs.

Gold is often used as a hedge against inflation and the machines could prove popular among Chinese consumers looking for a convenient way to safeguard their cash amid rising prices.

Chinese consumer demand for gold soared 27% year-on-year to 579.5 tonnes in 2010, according to the World Gold Council. India, the world’s top consumer, saw a 66% increase to 963.1 tonnes.
Posted by Caitlyn Diamond at 4:23 PM 0 Comments

Saturday, September 24, 2011

Ethics In The Gold Industry

One of the most important traits which is argued about and discussed in the gold industry is ethics. What’s more is that it’s on the pillars and basis of ethics that the gold industry is dependent. It has been witnessed that most gold dealings are conducted dishonestly. It is a very common activity of people to amalgamate gold with other substances. Therefore, a particular set of ethics have to be followed by gold dealers for avoiding different problems.

It is vital that the individuals which are being served should be offered complete dedication by all members of the gold industry. From the client’s point of view, it becomes a very constructive and faith building activity. There are several dealers in the industry which are dishonest so people do not know how to find an honest gold buyer. Even if a single member of the industry is dishonest, the reputation of the entire industry goes down the drain. In fact, if this happens, people will never revert to the same dealer if he is dishonest.

When dealing with the shareholders of the gold mining company, ethics again play a very important role. If there is even a small inkling that the company is conducting fraudulent activities, the government will have to interfere. The credibility and the reputation of the company will be destroyed in the occurrence of a scam. It is vital to lay importance of ethics in the event of a company wishing to carry out expansion.
In case of inter business dealings, ethics are also crucial. This is because if any competitor gets even a minor hint of any fraudulent activities, they will destroy the reputation of the company by disclosing the matter to higher authorities. In this case, legal action can also be taken by a company. In this manner, both the shareholders and the public will lose their trust in the company. Hence, business ethics should be followed in order to avoid such a situation.

The backbone of a company is its employees. Without the contribution of the employees, the company will cease to exist. Business ethics play a very vital role in the benefit of not only the company as a whole but also the employees because it leads to more productivity. In addition, the employees will work harder and with more dedication for achieving their aims in target as their confidence will be boosted.

KMG Gold Recycling which is a precious metal refinery in Canada is a perfect example of business ethics. It complies with all rules and regulations and work to maintain the faith and trust which people have placed in them. All business ethics are followed by it.
Posted by Caitlyn Diamond at 8:09 AM 0 Comments

Friday, September 23, 2011

Crucial Steps In Buying Gold

The world economic scenario has undergone a lot of turbulence and uncertainty in the past few decades. Therefore, it is a secure alternative to make long term investments. The retirement accounts are decreasing, the stock exchange is also subject to huge fluctuations and the value of all currencies is on a decline. Gold has become a prized investment in such these circumstances. Gold has emerged as a winner because it has been able to withstand all the lashes of recession. Apart from being used in ornaments, gold also possesses immense historical value and importance. What’s more is that by buying gold at a lower price and selling it at a higher price, one can make money.

To ensure that gold proves to be a secure and reliable investment, people should understand some simple steps to buy gold. To gain a full understanding of the ins and outs of the market, people should thoroughly analyze the gold market. If one wants to know the potential value of gold holdings, people should understand the value of the metal and have complete knowledge of its historical relevance. Moreover, people should be aware that gold investment is not restricted to one specific option. People can buy metal futures, certificates, stocks of mining companies, wafers, physical bars and coins and mutual funds of precious metals amongst others.

Before settling on one form of investment, people should have a thorough understanding of the gold industry. In addition, the mode of investment which is selected should enable people to make money and should also be within means. Those investors should look for gold coins that have a limited allocation. Not only these coins have immense historical value, but are easy to transport and convenient to store and hold.

Finding a reliable gold dealer is the next step which has to be followed. It is essential to find a dealer who is honest, trustworthy and follows all business ethics from the ones which are available locally as well as online. All Canadian cities like Toronto, Calgary, Kamloops, Vancouver, Winnipeg, Victoria etc have their own gold dealers.
There are several gold dealers located in each city. It can be seen that people can save on the transportation and shipping costs can be saved if one opts to use a local dealer. On several occasions, people can gain confidence by investing in smaller items.

People can choose any gold refinery in Canada for confirming gold authenticity of gold with the help of gold assay services. KMG Gold Recycling is a suitable choice when looking for a precious metal refinery in Canada. People can make a decision once the refinery has analyzed the gold. KMG would be the ideal choice as it conducts all its transactions with honesty. 
Posted by Caitlyn Diamond at 7:56 AM 0 Comments

Thursday, September 22, 2011

Silver Sales Rise 30%

The Royal Canadian Mint is on track to raise sales of its silver bullion coins by around 30 percent to 25 million ounces this year and to match last year's record gold sales of around 1 million ounces, an executive from the Mint said.
Speaking on the sidelines of the London Bullion Market Association annual conference, John Moore, executive director of bullion and refinery services at the Mint, told Reuters investors believed silver had more room to rise than gold.
"In terms of our sales this year, year to date we're tracking to the same volumes as we had last year in gold, which were record volumes for us. heading toward a million ounces," he said.
"In silver, we are 30 percent ahead of where we were last year," he said. "We finished last year with 18 million ounces of silver (sales). We are looking at increasing those sales by about 30 percent to the end of this year, to around 25 million ounces."
While silver sales have been strong, very few scrap coins are being returned to the market despite a rally in silver prices to record highs near $50 an ounce in late April.
The metal dropped sharply from that high, however, falling by around a third in just six sessions after its record high, unsettling some investors.
"Analysts are still calling for silver to follow gold and go back up to $50," Moore said. "If you believe gold is going to $2,000, you will probably believe that silver will follow it and go to $50."

Posted by Caitlyn Diamond at 1:06 AM 0 Comments

Wednesday, September 21, 2011

Gold's Storage Wars

Gold climbed to a record $1,921.15 an ounce on Sept. 6. Prices more than doubled since the end of 2007 as stock markets slumped, economies contracted and central banks and governments pumped more than $2 trillion into the global financial system. It all sounds perfect but there are issues involved.

Deep in the 7.4-acre Singapore Freeport next to Changi International Airport’s runways is the bullion vault of Swiss Precious Metals, behind seven-metric-ton steel doors built to survive a plane crash or earthquake.

The rooms are almost full after demand rose fivefold in the year since the Geneva-based company opened the facility. The firm is planning on an expansion to cope with the surge of investors willing to pay as much as 1 percent of the value of their holdings each year to keep them secure.

“The European debt crisis and its impact on the solvency of European financial players are driving European customers to find safe investment opportunities like physical gold and other precious metals,” a representative said. 

Barclays Capital is building a new vault, The Brink’s Co.and Deutsche Bank may add more space to there facilities, and the Perth Mint may expand for the first time since 2003. It’s a sign they expect demand to keep increasing after the 11-year rally during which prices increased sevenfold. Investors in exchange-traded products backed by gold bought 2,198 tons of bullion since 2003, exceeding all except four countries’ official stockpiles.

Gold rose 28 percent to $1,813.15 this year. The metal will exceed $2,000 this year, according to the average estimate of 16 respondents in a Bloomberg survey at the London Bullion Market Association’s conference in Montreal. The metal will peak at $2,268 next year, the survey showed.

Storage companies are responding. The 112-year-old Perth Mint, which refines more than 8 percent of all supply and is owned by the Western Australian state government, may add a new vault within the next year, according to Treasurer Nigel Moffatt. The mint sells everything from gold coins to 400-ounce (12.4-kilogram) bars.

Brink’s, the largest bullion carrier in the U.K., is considering adding more storage after opening a new London vault earlier this year. Barclays, based in London, is building a vault in the city that will open next year, the bank said in a statement last week.
.
“With gold prices where they are, we encourage people to keep it in safety-deposit boxes at banks or vaults, which gives that sense of security,” said Scott Carter, chief executive officer of Goldline International Inc., a Santa Monica, California-based precious-metals retailer established a half-century ago.

“Many vaults are hitting the insurance limit as prices of gold have surged and even if space is available, the full replacement insurance may not be available,” said Savneet Singh, the CEO of New-York based Gold Bullion International, which offers precious-metals storage to wealthy individuals, hedge funds and financial institutions. “The smaller customers are already getting squeezed.”


Posted by Caitlyn Diamond at 7:25 AM 0 Comments

Tuesday, September 20, 2011

Jeweller's Scale

Jewellers scale are a must have for people who deal in precious metal items. Such items include diamonds, semi-precious stones, silver and gold.

What Is A Jewellers Scale?
This is a weighing machine that can measure very minute objects. The scales are digital and are available in stores that stock jewellery and precious metals. Resellers are also popular users of these scales. They weigh carats either for gold or diamond, and help in determining the value of the underlying precious metal.

How Gold Is Weighed
Currently, gold is weighed as:
1 ounce           -     31.1 grams
1 kilogram      -     32.2  ounces

One buying a scale must be careful so as to get the best scale. Reputable makers of these scales have evenly distributed their products in the market. There are some guidelines that can help a buyer know exactly what to look for in a scale. These are mainly requirements that have been set by the industry in regard to the ideal scales. These are:
a)Digital display
A jewellers’ scale must have a digital display that gives accurate measurements. The scales are convenient because they give quick results, in seconds! Whether a person is  seeking to buy or to sell precious metal items, a jewellers scale offers more efficiency than other weighing methods. Accurate measurements lead to accurate transactions which are necessary for business efficiency.
b)Source of power
Jewellers scale are very convenient for use. For people who are always on the move, battery run scales are available. They are also portable hence ideal  for field studies.

Uses Of Jewellers Scales
Though the word  jewellery is used in its name, jewellers scale can be used by just about anyone. Insurance firms use them use them to ascertain the inherent values of items such as rings, bracelets, gold items and other precious metal items. They do these tests so as to determine the amount of insurance cover that is payable for the precious metal items.

Auction houses also have these scales for establishing the values of items from diamonds, silver, gold or semi-precious metals.

Individuals are also users of these scales. They use them to determine the value of the jewellery they buy. It is important to know that the item one is buying is genuine and that the value stated is indeed the true value.

Modern systems weigh gold in grams though the price of gold is quoted in ounces. Knowing the ounce equivalents of these grams helps an individual get the correct price for gold items.

Therefore, one should invest in a jewellers scale that is properly calibrated as this is the first step to determinig the true value of a precious metal item. Consider your options carefully!


Posted by Caitlyn Diamond at 8:21 AM 0 Comments

Monday, September 19, 2011

Most Money for Gold at the Refinery

Earning top dollar for a stash of scrap gold begins by selling directly to the refinery. The biggest mistake you can ever make is selling gold, silver, platinum or palladium to local middlemen. Middlemen will rip you off by paying peanuts for scrap gold items. There are as many reputable gold buyers as there are fly-by-night firms run by middlemen.

How to identify reputable refineries

A number of factors can come in handy when looking for reputable refineries. Look out for the following;

Honesty and Integrity

Honesty and integrity will be embodied in accreditations such as Better Business Bureau (BBB), McAfee, VeriSign and TRUSTe. Honesty and integrity are two important cornerstones of any successful business. The Better Business Bureau is a consumer watchdog that fosters trust between customers and companies. A company that lacks accreditations cannot be trusted. It’s too great a risk and chances are you will be paid peanuts for your stash of scrap gold.

High Payout Rates

Refineries pay more money than local middlemen gold buyers, pawn shops or pawn brokers. Refineries will pay an average six times more money than local middlemen. Rather than sell gold, silver, platinum or palladium items to middlemen, deal directly with refineries for the most money. Local middlemen simply collect gold, silver, platinum and palladium items and sell to refineries for top dollar. Middlemen or pawn shops and pawn brokers can never offer top dollar. They are also looking to make top dollar from refineries and will thus pay peanuts for your gold.

Fast Turnaround

Refineries offer faster turnaround, with faster services and payments. Beware of gold buyers who hire summer students or minimum wage workers to test and analyze your gold. All gold, silver, platinum, palladium and rhodium at KMG Gold is professionally tested and analyzed by a KMG Gold Certified Engineering Technologist, Certified Engineering Technician, or Applied Science Technologist. This in turn, results in faster turnaround and payments.

Shipping Insurance

Only the best gold buyers and gold refineries offer real, claimable insurance for your precious metal. UPS, FedEx, Purolator, Canada Post, the US Postal service etc will all sell you insurance, but it is not claimable for precious metals, gems, jewelery, gold bars, silver bars coins wafers etc.
Only KMG Gold Recycling offers genuine, claimable shipping insurance for your gold at one half the costs of the other carriers insurance.

Additionally, watch out for gold buyers who don’t have a privacy policy or who aren’t certified by TRUSTe. They might sell your e-mail address and your personal information. Beware of gold buyers who don’t have a terms and conditions of service page on their web site. They are hiding things from you. Or perhaps they just might be fly-by-night firms looking to buy gold cheaply.
Posted by Caitlyn Diamond at 10:32 AM 0 Comments

Monday, September 19, 2011

Safe Keeping

Owning gold is starting to become the “in” thing in the investment industry because it’s perceived as a hedge in troubled economic times. With the current value of gold seemly edging higher almost on a daily basis, there are more and more people who are keeping gold investments at home.

“For many people owning gold jewelry means they are now in possession of a significant value of gold,” stated Cpl. Richard De Jong, spokesperson of the North Vancouver RCMP. “The RCMP is cautioning people to be very mindful of where and how they are storing their gold; thieves have been very specific in residential break and enters by stealing just gold jewelry.”

Several agencies and organizations, including KMG Gold are offering some safety tips to consider for safekeeping your gold:

Bank safety deposit boxes are secure and may offer one of the best protection options from theft or loss.
An in-house, fire-rated securely fastened safe may also provide security.

To mitigate the risk of theft, diversify where you choose to store your gold. Do not store all your gold in one specific hiding place in your residence. If thieves find one storage location they may quickly move on.

Be cautious when telling your friends or neighbours about the value of your gold. Keep quiet about the gold you have and you will not have to worry about being targeted for a break and enter or home invasion.

Assume any potential thief may have a metal detector to locate your gold. Therefore, keep your gold stored in a location that contains other metals that could act as a “camouflage” by naturally setting off a metal detector

Think about ‘providing a facade as bait’ for any potential thief. By having a jewelry box with inexpensive items inside, it may be enough perceived riches for the robber to then leave.

Stay away from hiding your gold in predictable places such as a freezer, a cookie jar or under a mattress. Think outside the box and utilize obscure locations.

Seriously consider placing your gold “on account” with a local refinery or recycler like KMG Gold in Winnipeg. By using this service, you keep the investment without risking the chance of theft or loss.

All locations whether in your home or outside, have advantages and disadvantages. Think smart and be proactive in protecting your gold,” suggests Michael Gupton of KMG Gold. “Your gold is worth it!”
Posted by Caitlyn Diamond at 7:49 AM 0 Comments

Saturday, September 17, 2011

Silver Used In Photography

Silver is a soft, white, lustrous transition metal. The metal occurs naturally as an alloy with gold and other metals. It is also available in minerals such as argentite and chlorargyrite. However, most of the silver is a byproduct of copper, gold, lead and zinc refining.

Silver is a valued precious metal used to make ornaments, jewellery, high-value tableware and currency coins. Today, silver has found an array of use as conductors, catalysts, disinfectants as well as in photography.

Silver In Photography
Photography has been around since the early 1800’s. Silver was used in photography for making silver based films. Its popularity grew steadily over the years. However, the recent introduction of digital cameras has reduced the use of silver in photography.

Silver halide crystals were used to cover a film. The crystals, once exposed to light would set. Due to their stability, they produced high definition photos and was therefore the best photographic method.

In the medical and industrial fields, X-rays use silver based films. Industrial inspections involve routine tests of cast metals. Scanning of machinery parts to display hidden flaws is done using these silver based X-ray films.

However, the use of digital cameras has greatly reduced the demand of silver in photography. In 2007, the demand for silver in photography was about 12 – 15% of the years’ total production. This was approximately half the silver that was demanded ten years before. With this large decline, silver is still significant in the industry.

Crime Scene Cameras
Silver based films are widely used and are the recommended technology for evidentiary photography and other field applications. These cameras are preferred because they offer high resolution and the highest dynamic range. Of the available camera technology options, these cameras possess the best colour range.
Compared to digital storage media, silver based films have a more lasting storage medium which is readily available.

Advantages Of Silver Based Films
1.They have a high resolution quality that gives a sharp image. The small sized silver crystals are the ones that give the cameras this high resolution.
2.The films are readily available and are manufactured by many reputable companies.

Disadvantages Of Silver Based Films
1.The films require separate processing and printing facilities.
2.They use up a lot of time in processing.
3.Processing this films produces environmentally hazardous byproducts.
4.The film needs a lot of care in handling before it is processed. This is because exposure to  humidity and temperature destroys the content.
5.The images taken can not be viewed immediately like in digital cameras, unless an instant film was used.
6.They do not have provisions for editing the images taken hence all faults are processed with the images.



Posted by Caitlyn Diamond at 7:54 AM 0 Comments

Friday, September 16, 2011

Seller Beware!

We’ve all heard the saying - ”Buyer beware,” but in today’s precious metals industry, the term “Seller beware,” is by far more appropriate.

“The predators are out in full force,” said KMG Gold founder and president, Michael Gupton.  “And unfortunately it’s because they can get away with it. They feed of the fact that today’s consumer is not aware of the options available.”

With the recent upswing in the price of gold and silver, more and more people are turning to gold buyers to sell their unwanted and scrap gold jewelery and coins. Jewelers, pawnshops and even “traveling roadshows” as Gupton calls them have all entered the market in an effort to grab a piece of the action.

“They are nothing short of predators,” Gupton claims when asked about these roadshows. “Don’t do it. They come to the outskirts of town because they are unlicensed and can’t do business in the city. They grab your stuff with an almost insulting offer and leave as fast as they can.”

Gupton has owned and operated KMG Gold, a local refiner and recycling operation in Winnipeg since 2007. He has been committed to educating the public on the precious metals industry and the tragic environment al effects of mining.

“All you have to do ask questions and check out their web sites, “said Gupton.  “ When they state they ‘probably’ pay out the highest rates that should be an immediate red flag. The other thing is ‘they arrange’ to refine and recycle used jewelery. What does that mean? It means they probably send it to us or another refinery. They are just middlemen.”

Michael Gupton founded KMG Gold in 2007 with his wife Karen, hence the name “KMG”, and has since proven himself a leading voice in the gold recycling industry by advocating for consumer interests, by publishing a wide variety of information and resources on the KMG Gold website.  KMG Gold was awarded the Manitoba Chapter of the 2010 Better Business Bureau TORCH AWARD for Torch Award for Marketplace Excellence demonstrating ethics and integrity in the marketplace.  BBB Torch Award winners build trust, advertise honestly, tell the truth, remain transparent, honour their promises, and display integrity in all of their marketplace activities. 
Posted by Caitlyn Diamond at 11:20 AM 0 Comments

Friday, September 16, 2011

Platinum Mining

Platinum has very few sources though its demand has been continously rising. Production of this metal is concentrated in two regions: South Africa and Russia. They produce 90% of the world’s platinum.
Globally, platinum mining companies are less than ten. Other countries like Canada, Zimbabwe and United States mine Platinum from smaller deposits. The increase in demand has been an incentive to the mining companies to develop plans for expansion.
Platinum mining companies require a lot of capital. This is used for production facilities and for ensuring survival by financing exploration and production. Platinum is both a precious metal as well as an industrial metal. Its use as an industrial metal is because of its resistance to chemicals and extreme temperatures as well as stable electric properties.
Processing operations
Mining of platinum is a very involving process. Extraction, concentration and refining may take up to six months. Statistics show that for an ounce of the metal to be obtained, 7 to 12 tonnes of its ore must be processed.
                     Extraction
Most platinum occurs underground. Extraction  is labour intensive and involves miners drilling holes which are then blasted by use of explosives. The ore is then harvested and taken to the surface. Here it is crushed and milled into smaller particles that expose the minerals  (PGM) which contain the platinum.
These particles are then mixed with water and other special reagents, a process known as ‘froth floation’.  Air is then blown through the mixture making the PGM particles float  on the surface. The floation concentrate is removed . To ensure that all the PGM material is obtained, the material that fails to float is taken through the milling and floation process again.
                   Concentration
The floatation concentrate is dried and smelted at temperatures of above 1500? C. This separates the valuable metal as a matte from the unwanted minerals. Periodical tapping of this material removes sulfur  and iron. This increases the PGM content to about 1400 grams per ton.
                    Refining
Refing of this PGM material is necessary as it removes nickel, copper and cobalt. This is done through standard electrolytic techniques. The final step of purifying the PGM concentrate is then done. Traces of gold or silver that may be present are removed by a combination of techniques such as, solvent extraction, distillation and ion-exchange. Dissolving the resultant material in hydrochloric acid and chlorine gas obtains soluble metals. These are first gold, then platinum and palladium.
Recycling
Platinum can also be obtained from scrap material. The autocatalyst sector provides the greatest proportion of recycled platinum. The catalyst substrate is smelted together with iron or copper. Leaching is then done to dissolve the copper or iron, obtaining a concentrare that undergoes the refining process.
Posted by Caitlyn Diamond at 7:34 AM 0 Comments

Thursday, September 15, 2011

Gold prices are likely to break through $2,000

Gold prices are likely to break through $2,000 an ounce by year-end to new record highs, metals consultancy GFMS said in a report on Thursday, as inflation pressures in Asia and debt concerns in the West lead to a recovery in investment demand.

While investment was soft in the early part of this year, jewellery purchasing held up remarkably strongly as prices climbed to records, the company said, while central banks added to holdings and scrap supply remained muted.
World investment in gold is forecast to jump by more than a quarter year-on-year to 1,069 tonnes in the second half, largely on the back of soaring bar demand, and could push the market significantly higher.

"Apparently low investment figures were very much a first-quarter story," said Neil Meader, research director at GFMS. "As soon as that Western disinvestment stops, you then have investment coming back at a time when the jewellery market is still strong and scrap is not doing a huge amount."

"Throw in a couple of hundred tonnes of official sector purchases, and you get some quite interesting price pressures going on," he said.

A forecast for a hefty 43.5 percent year-on-year fall in implied net investment -- chiefly reflecting activity in exchange-traded funds, on COMEX and in over-the-counter trading -- was a reflection of profit-taking early in the year, Meader said.

But the low interest rate environment, poor confidence in paper currencies and concerns over sovereign debt are all still strong factors underpinning interest in gold. In the full year, world investment is seen rising 1 percent to 1,693 tonnes.

Selling out of exchange-traded funds in the first quarter of the year, when the major gold funds recorded the largest quarterly outflow on record, has been partly reversed, suggesting appetite for the products has recovered.

Bullion bar buying, which has been consistently strong this year, rose 43 percent in the first half and is expected to stay strong in the remainder of the year, with GFMS forecasting a further 8 percent rise in the second half.

"We have seen periods where ETF demand wasn't great, and to an extent that was due to some people shifting out of ETFs into allocated metal accounts, because that is a lower-cost vehicle for holding gold," said Meader.

"That phenomenon happens when you have new entrants in the market. The ETFs are very visible and easily understandable, and that attracts new entrants, but once they are more familiar with gold ... and if their positions build to a certain size, they may be in a position to switch into allocated metal."
Posted by Caitlyn Diamond at 7:20 AM 0 Comments

Wednesday, September 14, 2011

2011 American Eagle Silver Uncirculated Coins

The United States Mint will offer 2011 American Eagle Silver Uncirculated Coins beginning at noon Eastern Time ( ET ) on September 15, 2011. The one-ounce .999 silver coin is currently priced at $60.45. As with all products sold by the United States Mint containing precious metals, pricing is subject to change.

Struck on specially burnished blanks, American Eagle Silver Uncirculated Coins feature a finish similar to their bullion counterparts but carry the "W" mint mark, indicating production at the United States Mint at West Point. Each coin is encapsulated in protective plastic and placed in a blue presentation case accompanied by a Certificate of Authenticity.

The obverse ( heads side ) design of the American Eagle Silver Uncirculated Coin features an image of Lady Liberty in full stride enveloped in the folds of the American flag with her right hand extended and branches of laurel and oak in her left. The reverse ( tails side ) design of the coin depicts a heraldic eagle with shield, an olive branch in the right talon and arrows in the left.

Orders will be accepted at http://www.usmint.gov/catalog or at 1-800-USA-MINT ( 872-6468 ). Hearing- and speech-impaired customers with TTY equipment may order at 1-888-321-MINT ( 6468 ). A $4.95 shipping and handling charge will be added to all domestic orders. There is no household order limit.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

Posted by Caitlyn Diamond at 7:27 AM 0 Comments

Tuesday, September 13, 2011

Gold Crowns

A crown is a form of dental restoration which is used on a tooth or a dental implant. They are used when a cavity develops on a tooth and are applied on the tooth using dental cement. Their purpose is to improve the appearance and strength of a tooth. Different materials are used for making the crowns. Gold is the most common.

Full Gold Crowns
These are the most common gold crowns used by dentists. Though they are called gold crowns, they are made up of a number of elements: the noble metals (gold, platinum and palladium) and the base metals (silver, copper and tin). Gold crowns that have a high noble content are of better quality.

Technique For Making Gold Crowns
Gold crowns are made through a process known as the Lost-wax technique. A dentist takes the impression of the tooth to be replaced, those adjacent and those opposite. The dimensions of the cast crown are then done in three dimensions, that is, the height, width and depth.

The measurements are recorded on an impression material and send to a dental lab. Dental stone or plaster is used to make the models of the tooth. The models are then ditched, died and articulated so that their arches meet properly.

To this tooth analog, known as a die, is applied wax. The wax is carefully moulded to gain the shape and exact dimensions of the tooth being replaced. Before the wax is applied, a die spacer is applied. This helps provide a space between the actual tooth and the gold crown.

A lubricant is also applied to ease in removal  of the wax pattern once preparation is complete. The wax pattern is then invested in a plaster like material. It is then placed in a furnace which burns off all the wax and plastic that was in the wax pattern, hence the name Lost-wax technique. A hollow is left which is known as the investment pattern.

To this hollow is shot pennyweights of melted gold. Once it has cooled, the crown is polished to high shine. Touching up is done at the place of attachment as the dentist checks to see if fits in with the adjacent teeth.

Advantages Of Gold Crowns
•Gold is very strong and resistant to corrosion. It is mostly applied on the back teeth that have biting forces.
•It adapts and fits well as a crown.
•Preparing a tooth for a gold crown is easy as no healthy tooth structure is tampered with.
•It provides longevity in service.

Disadvantage Of  Gold Crowns
Full Gold Crowns have one major disadvantage. This is the fact that they are cosmetic and hence not suitable for front teeth.

Posted by Caitlyn Diamond at 7:56 AM 0 Comments

Monday, September 12, 2011

Important Steps Involved In Buying Gold

The world economic scenario has undergone a lot of turbulence and uncertainty in the past few decades. Therefore, it is a secure alternative to make long term investments. The retirement accounts are decreasing, the stock exchange is also subject to huge fluctuations and the value of all currencies is on a decline. Gold has become a prized investment in such these circumstances. Gold has emerged as a winner because it has been able to withstand all the lashes of recession. Apart from being used in ornaments, gold also possesses immense historical value and importance. What’s more is that by buying gold at a lower price and selling it at a higher price, one can make money.

To ensure that gold proves to be a secure and reliable investment, people should understand some simple steps to buy gold. To gain a full understanding of the ins and outs of the market, people should thoroughly analyze the gold market. If one wants to know the potential value of gold holdings, people should understand the value of the metal and have complete knowledge of its historical relevance. Moreover, people should be aware that gold investment is not restricted to one specific option. People can buy metal futures, certificates, stocks of mining companies, wafers, physical bars and coins and mutual funds of precious metals amongst others.

Before settling on one form of investment, people should have a thorough understanding of the gold industry. In addition, the mode of investment which is selected should enable people to make money and should also be within means. Those investors should look for gold coins that have a limited allocation. Not only these coins have immense historical value, but are easy to transport and convenient to store and hold.

Finding a reliable gold dealer is the next step which has to be followed. It is essential to find a dealer who is honest, trustworthy and follows all business ethics from the ones which are available locally as well as online. All Canadian cities like Toronto, Calgary, Kamloops, Vancouver, Winnipeg, Victoria etc have their own gold dealers.

There are several gold dealers located in each city. It can be seen that people can save on the transportation and shipping costs can be saved if one opts to use a local dealer. On several occasions, people can gain confidence by investing in smaller items.

People can choose any gold refinery in Canada for confirming gold authenticity of gold with the help of gold assay services. KMG Gold Recycling is a suitable choice when looking for a precious metal refinery in Canada. People can make a decision once the refinery has analyzed the gold. KMG would be the ideal choice as it conducts all its transactions with honesty. 
Posted by Caitlyn Diamond at 6:20 AM 0 Comments

Sunday, September 11, 2011

The New Gold Rush?

Some people are referring to this period of time as the new “Gold Rush.” Most will agree, the current market has been a golden opportunity for investors, some consumers, but as usual the con artists have jumped on the band wagon as well.

According to KMG Gold, president and founder, Michael Gupton on CJOB 68 radio, “Beware: pay attention to past scams and watch out for new ones that are circulating via email, newspaper advertisements and flashy television commercials.”

If someone really wants to buy gold, don't fall for late-night TV pitches or telephone sales calls that come out of the blue. Think about it: Why would a stranger want to tip you off to a hot gold mine investment?

"If gold is hot, you'll see gold scams," warned Gerri Walsh, vice president for investor education for the Financial Industry Regulatory Authority, the nation's largest independent securities regulator.

Gold futures hit a record $1,923.70 an ounce Tuesday before falling back, a good reminder that this is a volatile investment -- even the legitimate deals.

Many of people have never invested or sold gold and have no idea how to go about such a transaction like this. Scam artists take advantage of the fact that individuals are basically unaware. They see the hype and headlines, plus the knowledge that many investors are turning to gold out of anxiety over wildly swinging stock prices.

Take your time. Do your research and only go with companies that have been in the gold business for a long time.

"If you are going to buy or sell a piece of gold, always buy from a reputable dealer who can provide the verification on the purity and authenticity of the piece," Gupton stated. 

The Financial Industry Regulatory Authority, the nongovernmental regulator for securities firms in the U.S., issued an investor alert recently to warn potential investors about the possibility of getting bit by the latest gold bug.

The North American Securities Administrators Association also listed schemes involving gold and other precious metals in its top 10 investor traps.

In one, a fast-talking promoter tried to raise capital for extraction equipment to reopen a long-dormant gold mine in exchange for a full refund on your investment, plus interest and a stake in the mine.

In another, operators claimed to have special coins or nuggets that they could store or trade for investors in special markets for high profits and returns.

In both cases, investors suffered heavy losses.

Be warned, too, about some gold-related investment scams that pitch stocks supposedly connected to mining or exploration. One false promise could be that a given company's stock is a buyout target for other mining companies.
Posted by Caitlyn Diamond at 6:41 AM 0 Comments

Thursday, September 08, 2011

Silver - The Perfect Alternative

The price of silver has been closely tracking that of gold during the precious metal’s bull run lately. Silver’s role as a precious metal has, at times has avoided any price negative news that has affected the other industrial commodities.

Silver benefits from gold’s rising prices largely because investors, whether in the paper or the physical markets, view it as an attractive leveraged play on gold. Silver offers exposure to the rising demand for safe haven assets at a cheaper price, sometimes earning it the title of “poor man’s gold.”

Of course, choosing silver as an alternative to gold has its risks, especially since the white metal isn’t entirely a precious metal. Silver’s price movements can be heavily impacted by favourable or unfavourable market sentiments regarding the health of the industrial sector, making the silver market highly volatile and prone to large swings in prices.

“Regardless of what happens, silver is still silver,” says Michael \Gupton of KMG Gold in Winnipeg. “It is considered both a precious metal with monetary overtones and also an industrial metal – two positive traits that affect its value.”

Worth the risk?

In spite of the risks, many people still find silver an attractive investment as it has the potential to bring far greater return on investment. The return on investment for silver can surpass gold as price movements over the last year have shown. From August 31, 2010, the price of silver year-over-year gained 115 percent compared to 47 percent for gold; meaning, that one hundred ounces of gold you bought last year for $124,770 made you $57,750 if you sold it one year later. However, you could have put that $124K all into silver and made nearly $143K for a total return of 147 percent more than your return on gold.

Over this next year, analysts expect gold prices to reach even higher and for silver to continue outperforming gold. “When we look at gold versus silver, we feel that silver prices could enjoy more of a gain over the next year or so." stated Gupton. 
Posted by Caitlyn Diamond at 10:36 AM 0 Comments

Tuesday, September 06, 2011

Gold Prices

The London Gold Fixing is the most common benchmark for the price of gold. The London Gold Fix refers to a twice daily telephone meeting of committee members from five bullion trading companies on the London Bullion market.

Representatives from the five firms meet twice daily to set the price of gold bullion. However, gold trading goes on world over based on the intra-day spot price, which is typically taken from over-the-counter gold-trading markets globally.

Recent Price Increases

The recent increase in the price of gold can perhaps be traced back to 2008, when the gold price went above US$1,000 to peak at US$1,004.38. However, after the March 2008 increase, Gold prices once again fell to a low of US$712.30 per ounce.

But it wasn’t long before the prices begun to rise again in late February 2009. Towards this time, the gold price provisionally went above US$1000 but later experienced a slight decline towards the end of the first quarter of 2009. By the end of 2009, the earlier March intra-day spot price record of US$1,033.90 was surpassed numerous times in October.

The price of gold effectively began climbing new highs in late 2009, peaking at about US$1226 before a sudden slight decline. However, as of August 19, 2011, the price of gold had peaked at a new all time high of US$1852.00 at the London Gold Fix.

A number of factors account for the fluctuating price of Gold.

Like any other goods, the price of gold is largely determined by speculation, supply and demand. On the one hand though, saving and disposal also affect greatly the price of gold more than its consumption. The fact is, most of the world’s gold ever mined can be found in bullion bars or jewelry, but with minimal value in terms of gold’s fine weight. As of the end of 2006, estimates indicate that all gold ever mined globally summed up to 158,000 tons.

Considering the fact that vast amounts of gold are stored above ground than annual gold production, the gold price is mainly driven by alternating sentiment (demand), as opposed to annual production (supply).

Estimates from the World Gold Council indicate that annual mine production of gold in recent years has been around 2,500 tons. Out of this amount, about 2,000 tons goes into the jewelry and dental industry and a further 500 tons is used by retail investors and exchange traded gold funds.

There has never been a better time to sell gold given the high price of gold currently in the international bullion market. Generally, the price of gold has also historically gone up in uncertain economic situations, such as inflation, as investors rush to hedge against financial losses.
Posted by Caitlyn Diamond at 9:02 AM 0 Comments

Thursday, September 01, 2011

Shipping Insurance for Precious Metals in Canada

Shipping insurance is vital when looking to ship scrap gold, silver, palladium or platinum to the refinery. Refineries pay the most money for items of scrap precious metal such as old earrings, thermocouple wire, wafers, coins, bracelets, rings, silver electrical contacts and silver from photography labs etc.

Several companies offer shipping insurance for precious metals in Canada and the US. For high returns from gold, silver, platinum or palladium, finding genuine shipping insurance is crucial.

Genuine Shipping Insurance

Not all companies that offer shipping insurance in Canada provide coverage for items of precious metal. On the contrary, some shipping firms offer insurance that is not claimable for items of precious metals. For instance, you can buy shipping insurance from companies such as UPS, FedEx, Purolator, Canada Post, the US Postal service amongst others.

However, the shipping insurance offered by these firms is not claimable for items of precious metals, gems, jewellery, gold bars, silver bars, coins, wafers etc. But there are Canadian companies that offer genuine shipping insurance claimable for items of precious metals.

Only KMG Gold Recycling offers real, claimable shipping insurance for your gold at one half the costs of the other carriers insurance.

Why chose KMG Gold Recycling?

KMG Gold Recycling pays out an average five times more money than its industry competition. When it comes to jewellery, KMG Gold Recycling is America's trusted authority, providing a tradition of excellence, high quality and unparalleled service.

Last year, KMG Gold Recycling won the 2010 Better Business Bureau Torch Award for Marketplace Excellence demonstrating ethics and integrity in the marketplace.

BBB Torch Award winners build trust, advertise honestly, tell the truth, remain transparent, honor their promises, and display integrity in all of their marketplace activities.

KMG Gold offers a secure and safe way to sell your unwanted jewellery for the most money in the industry. With the current high price of gold, there's never been a better time to sell. KMG Gold Recycling's expertise and experience ensures your peace of mind. The company offers a competitive payout, quick turnaround and fast payment.

KMG Gold Recycling is North America's newest and most dedicated full service refinery and gold buyer. The company has the most comprehensive recycling services of any refinery and gold buyer. Payments and services are efficient as the company offers excellent communication and customer support. Every single transaction is fully transparent and open.

There are custom settlement options tailored to suit all of your needs, whether you're an individual selling small lots of gold or the large refining lot customers. Currently, KMG has the highest gold buyer pay out rates in North America! All of KMG Gold’s prices for cash lots and refining lots change every day with the market price of precious metals.

Posted by Caitlyn Diamond at 9:25 AM 0 Comments

Saturday, August 27, 2011

Investing In Precious Metals

Investments in precious metals have historically been used as hedge against uncertain economic situations. People have taken to investing in Gold and Silver as a way to store value during inflation. When physical currencies are losing their value in uncertain times, investors rush to gold to store the value of their money in Gold’s intrinsic value.

Precious metal investing was more pronounced when national currencies were still pegged against gold. Today though, national currency values are not tied to gold as such. On the contrary, national currencies are nowadays more backed by a nation’s gross domestic product.

Suffice to say, there are other numerous reasons for which people invest in precious metals. Estimates indicate that over the last few years, the demand for silver, gold, palladium and platinum has increased considerably. Demand has almost outstripped supply.

In addition, the market price of the precious metals has been maintained at a nominal rate due to the disposal of gold reserves by national central banks. Increased investments in precious metals have also been witnessed from rich investors from the developing world, such as China.

These investors from developing states are keen on storing away their personal wealth. Analysts portend that the current demand for precious metal may not wither. It may take a recession to slow down demand for gold and other precious metals.

Investors have always considered precious metals as reliable depositories of absolute value—as opposed to the relative value of paper currency.

How to Invest in Precious Metals

Most people think of investing in precious metals as buying bullion, namely bars and wafers, coins etc. Whereas most investors prefer to invest in bullion, there are other diverse options available. Precious metal investments can be undertaken through vehicles such as jewellery, mutual funds, coins, bullion, futures, options or mining stocks.

The one merit with investing in precious metals lies in the liquidity of the investment. Precious metal investment options have great liquidity and can be bought and sold at will, anytime. Note however, than unlike silver and gold, palladium and platinum are less liquid. But regardless, they all can be bought and sold at anytime.

Portfolio Diversification

Most investors allot a percentage of their investment portfolios to precious metal investments. But like other investments, silver and gold fluctuate in prices depending on a varied number of factors. Gold and silver prices can change drastically! Generally though, investors rush to precious metal investments when the economic situation seems untenable.

Whenever investors lose confidence in other assets and values dive, precious metals become a preferred investment alternative. The one major driver of gold and silver investment is speculation. However, supply and demand, as well determine the price of gold and silver.

Posted by Caitlyn Diamond at 9:43 AM 0 Comments

Friday, August 26, 2011

Golden Headlines

Goldsmiths struggle in soaring market for precious metals

Demand for jewellery dries up as people become sellers of gold rather than buyers

With its genteel Georgian square and cobbled pavements, Birmingham's 250-year-old jewellery quarter is a world away from the high-octane trading desks of the Square Mile in London.

But investors in the City and elsewhere are playing God with the district's 400 manufacturers and goldsmiths, whose livelihoods are threatened by the unprecedented march of the gold price, which has surged nearly 500% in the last decade and touched a record high of $1,911 (£1,176) this month.
This dramatic rise has not gone unnoticed by the general public, who have been shrewdly digging out their jewellery boxes. The handwritten sign outside one store promises "£12 per gram" for nine-carat gold rings and chains, while nearby windows scream "we buy gold, best prices paid". The people peering in the windows are now as likely to be selling family heirlooms as shopping for them.

Gold Ends Up 2% As Hopes Of Stimulus Remain

NEW YORK (Dow Jones)--Gold ended 2% higher on demand for a store of value after Federal Reserve Chairman Ben Bernanke gave markets no hints that another liquidity injection was imminent.

The chairman said the central bank is ready to provide more support to a weak U.S. economy and the Fed would extend its mid-September meeting to two days to discuss options possible policy options.

"The Committee will continue to assess the economic outlook in light of incoming information and is prepared to employ its tools as appropriate to promote a stronger economic recovery in a context of price stability," Bernanke said.

Gold prices whipsawed throughout Bernanke's speech, slumping $20 to graze session lows then recovering to touch a high of $1,800.

But while the chairman gave no indications of more quantitative easing, many market watchers took the September meeting extension as a sign that help was on its way.

"The market is looking for more easing at the September meeting and gold is driven higher by that," said Matt Zeman, head of trading at Kingsview Financial.
Gold for December delivery, the most actively traded contract, settled up $34.10, or 1.9%, at $1,797.30 a troy ounce on the Comex division of the New York Mercantile Exchange. The contract marched even higher after floor trading closed, touching $1,810.60 recently.

Gold Price Plunges 5.6%, Tarnishing Safe-Haven Image

Maybe gold isn’t so safe after all.After months of setting record after record, the price of gold plunged $104, or 5.6 percent, Wednesday to finish at $1,757 per ounce. That was the biggest percentage drop in nearly 3 1/2 years and a blow to investors who thought the metal could go only one way – up.
“Gold was considered a safe haven for years because it wasn’t popular, but now it’s popular,” said Cetin Ciner, a professor of finance at the University of North Carolina-Wilmington. “You can’t have a fad and a safe haven at the same time.”

Investors may have been selling on news of new rules in China requiring traders to set aside more collateral when borrowing money to buy gold. After gold settled in the U.S. Wednesday, exchange operator CME Group announced it was raising its collateral requirements, too.
Posted by Caitlyn Diamond at 4:55 PM 0 Comments

Friday, August 26, 2011

Commodities Markets

The commodity market refers to markets whose primary function is the exchange of raw products. Commodities are traded on regulated exchanges, for which they are bought and sold. Products in commodities markets are bought and sold in standardized contracts. Items traded on the commodities markets include agricultural produce such as soy, wheat, corn etc; precious metals such as palladium, platinum, silver and gold; energy options, etc.

Commodities Trading

Trading in commodities mainly consists of direct physical trading, as well as derivatives. The commodities markets have experienced an upturn in the volume of trading over the last one decade. The increase in trading volume has been largely accredited to the attraction witnessed in recent years amongst investors to commodities as an asset class. Additionally, there has been a proliferation of alternative investment options that have made it easier to access the commodities market.

Various types of trading are undertaken in the commodities markets. They include Spot trading.

In spot trading, the delivery of the underlying commodity is done immediately, or at a later specified time with a minimal lag in the time of delivery due to unforeseen technical hardship. Therefore, in spot trading, the investor undertakes a physical inspection of the underlying commodity. Either the whole commodity is inspected or a sample inspected.

Spot trading is typically done in markets like the wholesale markets. Commodity markets however demand that buyer and seller agree to acceptable standards and trade is undertaken without physical inspection.

Forward contracts

A forward contract involves an agreement between buyer and seller for delivery of the underlying commodity at a pre-arranged future date. The forward contract includes a pre-fixed price that is unchangeable in the future, at the time of commodity delivery. Today’s fixed price is typically referred to as forward price.

Futures contracts

A futures contract can almost be defined as a forward contract. However, the futures contract is transacted through the futures exchange. But like the forward contract, the futures contract is an agreement between buyer and seller to deliver the underlying commodity at a future agreed date and fixed price. Simply put, a futures contract is a “buy now, pay and deliver later” agreement.

Earlier on, futures contract typically traded in food and agricultural products. However, the futures markets have evolved since its earlier founding and are now standardized into futures contracts.

Even though forward contracts are complex by today’s standards, the earlier forward contracts were mainly utilized for rice in 17th century Japan. Modern forward contracts began in the 1840s in Chicago. Because Chicago was centrally located, it rose as a trading center between Midwestern farmers and producers and the consumers in the east on the one hand.

In a nutshell, a futures contract is a standardized contract that involves the buyer and seller agreeing to terms with regard to commodity size, grade, quality and location. However, the traders are free to negotiate the pre-fixed price of the underlying commodity.

Posted by Caitlyn Diamond at 8:52 AM 0 Comments

Wednesday, August 24, 2011

Shipping Insurance for Precious Metals in Canada

Shipping insurance is vital when looking to ship scrap gold, silver, palladium or platinum to the refinery. Refineries pay the most money for items of scrap precious metal such as old earrings, thermocouple wire, wafers, coins, bracelets, rings, silver electrical contacts and silver from photography labs etc.
Several companies offer shipping insurance for precious metals in Canada and the US. For high returns from gold, silver, platinum or palladium, finding genuine shipping insurance is crucial.

Genuine Shipping Insurance

Not all companies that offer shipping insurance in Canada provide coverage for items of precious metal. On the contrary, some shipping firms offer insurance that is not claimable for items of precious metals. For instance, you can buy shipping insurance from companies such asUPS, FedEx, Purolator, Canada Post, the US Postal service amongst others.

However, the shipping insurance offered by these firms is not claimable for items of precious metals, gems, jewellery, gold bars, silver bars, coins, wafers etc. But there are Canadian companies that offer genuine shipping insurance claimable for items of precious metals.

Only KMG Gold Recycling offers real, claimable shipping insurance for your gold at one half the costs of the other carriers insurance.

Why chose KMG Gold Recycling?

KMG Gold Recycling pays out an average five times more money than its industry competition. When it comes to jewellery, KMG Gold Recycling is America's trusted authority, providing a tradition of excellence, high quality and unparalleled service.
Last year, KMG Gold Recycling won the 2010 Better Business Bureau Torch Award for Marketplace Excellence demonstrating ethics and integrity in the marketplace.

BBB Torch Award winners build trust, advertise honestly, tell the truth, remain transparent, honor their promises, and display integrity in all of their marketplace activities.

KMG Gold offers a secure and safe way to sell your unwanted jewellery for the most money in the industry. With the current high price of gold, there's never been a better time to sell. KMG Gold Recycling's expertise and experience ensures your peace of mind. The company offers a competitive payout, quick turnaround and fast payment.

KMG Gold Recycling is North America's newest and most dedicated full service refinery and gold buyer. The company has the most comprehensive recycling services of any refinery and gold buyer. Payments and services are efficient as the company offers excellent communication and customer support. Every single transaction is fully transparent and open.

There are custom settlement options tailored to suit all of your needs, whether you're an individual selling small lots of gold or the large refining lot customers. Currently, KMG has the highest gold buyer pay out rates in North America! All of KMG Gold’s prices for cash lots and refining lots change every day with the market price of precious metals.

Posted by Caitlyn Diamond at 9:32 AM 0 Comments

Thursday, August 18, 2011

Buying Gold Bullion In Winnipeg

There has been a drastic increase in gold investment in the city of Winnipeg. People often chose to invest the spare cash they have into gold and then liquidate it when prices rise. Like other cities in Canada such as Calgary, Vancouver, Montreal, Victoria etc, Winnipeg is also becoming the hub of gold trading. Buying Canadian gold bullions can lead to a variety of options for people in regard to investment. As there is no lock period for the purpose of liquidating your investment, you can sell your gold when you want.

People reap certain benefits when they purchase gold:

• It is said to be the safest and most reliable form of investment, because the gold bullion is offered to people by the government. A variety of options are offered by the Canadian Mint for to invest in gold bullion. When you want to buy gold, you have the option of public or private parties. Trading is conducting with the help of spot prices but premium may also be charged. A Winnipeg gold buyer should remember that for gold investment, there are numerous ways. There are different ways to invest in gold so it is not necessary to purchase gold bullion.

• People can make use of the internet to make an online purchase and thus make an investment in gold. In this manner, people can use gold as a means of trading as they will not get their hands on tangible gold but it will instead be available in the form of stock or a commodity. But this is only applicable in situations where gold is bought for investment purposes.

• For people who are newcomers in the market and are making gold investments for the first time, there are literature and magazines which can offer all the necessary information about the gold market and explain its trends which can lead to better decision making. Reading them will be helpful in comprehending the moods and trends of the market and will help people in deciding the correct time for making or selling investments.

To earn top dollar as a buyer, one needs to spend time in educating oneself about the trends of the market and the different trading strategies which are used and will eventually allow you to get higher returns from your investment. If one wants good results, then for starters, small investments should be used and once people have analyzed and understood the market conditions and trends, huge investments can be made. To make a great profit in a short time, people can make large investments once they have gained confidence. The most liquid and highly paying investment is gold. But it requires large investments so one should be cautious. Before investing in private parties, people should get feedback from old clients and research it thoroughly. Before entering the market, one should be aware of the trends and political conditions.
Posted by Caitlyn Diamond at 9:10 AM 0 Comments

Thursday, July 14, 2011

Scrap Gold Buyer Online

Scrap gold buyer online in Canada, KMG Gold is the right place to sell gold. KMG Gold is the 2010 BBB Award Winner for Marketplace Excellence, Honesty, Ethics and Integrity in Business. This is enough proof for the integrity and ethics in business. You might want to read through real time customer testimonials in the KMG Gold website.

When we talk about buying precious metal bullion, we mean to talk about buying gold bullion, buying silver bullion, buying platinum bullion, buying palladium bullion, and buying rhodium bullion. It can be either one or more of these bullion types based on your affordability. These metals are precious because they are rare. Whether you are buying gold bullion or selling gold bullion it is very important you understand the reputation of the buyer and then go about the buying process.

Ensure that the dealer from whom you are buying the bullion is providing you with a consistently better price than the rest of the dealers. Since the prices for precious metals are transparently displayed in online gold selling sites you can safely compare the rates from different gold buying and gold selling sites about the price you can pay to buy for your gold or the price you can get for your gold, in case you are selling your gold.

When you set out to buy precious metal bullions you will find a mix of them in different weights, shapes and sizes:
• Gold coins, gold wafers, gold coins of different weights, gold bars, gold kilo bars
• Silver coins, silver wafers, silver coins of different weights, silver bars, silver kilo bars
• Platinum coins, platinum wafers, platinum coins of different weights, platinum bars, platinum kilo bars
• Palladium coins, palladium wafers, palladium coins of different weights, palladium bars, palladium kilo bars
• Rhodium coins, rhodium wafers, rhodium coins of different weights, rhodium bars, rhodium kilo bars

From the assortment of available choices you have to decide the form of bullion you would like to posses and you should make your purchase accordingly. If you want to buy precious metals in Canada whether you are looking to buy gold in Canada, buy silver in Canada, buy platinum in Canada, buy palladium in Canada, or buy palladium in Canada deal with a company who has a stable customer service in case you might want to deal with them after sale. A good dealer will answer your concerns even long after you have completed the purchase.

There are online gold buying websites that allow you to continue with the gold buying and gold selling round the clock. You can take your time and shop at your convenience to reach the best price possible for your purchase.

Posted by Caitlyn Diamond at 9:12 AM 0 Comments