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Gold Price Singapore

Further Understanding

Practical information on the Gold Price Singapore

Simply What is Gold?

Gold is a precious metal whose price varies from place to place and time. It is one of the most recognizable and safe-haven investments. The metal is deemed the most reliable stock compared to fiat money and fluctuating stocks. Therefore, it is mainly used as the world’s standard financial tool . Although it cannot be used to pay dividends or not consumed, it is a profitable investment sought by almost everyone. Its price is never constant, meaning that it keeps varying.
Changing Gold Prices

Why does the price of Gold Change?

Since it is a precious and expensive metal, it is sold in various quantities, and each is sold at its specific price depending on its weight. The price that you might get for one kilogram of Gold today is not the same as it was yesterday nor what you will find tomorrow. This means each day; Gold has a different price. The price of Gold keeps increasing because many people invest in it for various reasons.

Check out a couple of reason below:

Gold can act as a hedge for inflation

Sometimes countries experience an intense reduction of interest rates or print a lot of money, which leads to devaluation of the currency. This, therefore, results in deflation inflation. But Gold is an asset with its unique nature and possesses its intrinsic value, so it won’t be affected in any way. So people use it as a hedge in situations when people have no faith in a country’s currency.
Gold Coins
Changing Gold Prices

It is a hedge against risks.

People opt for Gold because it provides a hedge during a crisis, like during situations that make paper investments’ value like bonds and equities decrease. The market risks make Gold attractive to investors since metal’s beta is always low. However, its fluctuating price power renders it unreliable in some cases. For instance, the gold price might rise amid a crisis and crash when the economy recovers.

9999 Gold

What is 9999 gold and how does it differ from 999 gold?

9999 Gold is also called 24 karat gold and is the highest purity the is used for Jewellery. There are higher levels of 99999 gold (5 nines) and the Perth Mint refined to 999999 gold (6 nines) the purest gold ever produced back in the 50’s. 

Because Gold is malable the higher purity they can really only go to 9999 gold (24 Karat Gold)

999 fine gold and 9999 fine gold are distinct. Because of the difference, 9999 gold is considered to be more refined. The term “refined gold” refers to gold that has been processed to remove most of its impurities.

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If you are looking to buy or sell Gold in Singapore you will need to use a licensed Precious Metals Dealer
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