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Gold and Silver Price, Products & Market Updates
Our sister site SELL GOLD is now live. Sell gold specializes in buying your gold jewellery, scrap gold and other gold items. Check out the website for live prices of different grades of gold at http://sellgold.com.au
Sell gold is fast becoming a top Sydney gold buyer. With transparent pricing and experienced staff, you will be looked after when selling your gold.
Please note our new banking details going forward into 2016. We will no longer be using our Westpac or CBA account. All future orders that are direct deposit need to be made into our NAB account, see details below
Bank: NAB (National Australia Bank)
Account Name: Bullion Money Australia Pty Ltd
BSB No: 082 330
Account Number: 957 782 782
Reference No: Use your invoice or order number
ABC Refinery, the refinery division of Pallion, which is the exclusive producer of the ABC Bullion products, has today been appointed to The London Bullion Market Association’s (LBMA) Good Delivery list for gold.
ABC Refinery’s appointment to this exclusive list is a testament to its ability to refine and produce gold products to LBMA level, universally regarded as the highest international standard. LBMA accreditation is given only to companies that meet the Association’s stringent assaying and bar quality criteria as well as its responsible gold and net tangible asset requirements.
The appointment makes ABC Refinery one of two LBMA accredited gold refineries in Australia (the other being Perth Mint)
Pallion CEO Andrew Cochineas said the accreditation is international recognition for the brand’s commitment to mining, refining and supplying superior gold product:
“ABC Refinery is delighted to be recognised amongst LBMA’s exclusive list of the world’s leading gold refiners. Australia is the second largest producer of gold globally and the addition of ABC Refinery to the LBMA good delivery list for gold gives primary producers in the region the benefit of choice.”
“As a wholly privately owned Australian business, LBMA accreditation is an important milestone not only for ABC Refinery but also the broader Pallion group which is a real Australian manufacturing success story.”
To be successful in attaining accreditation, ABC Refinery had to satisfy the LBMA of its ownership, history, production capability and financial standing. It also had to pass the LBMA’s exhaustive technical testing procedures, under which ABC Refinery’s ABC Bullion gold bars were examined and assayed by independent referees and its own assaying capabilities were tested added Mr. Cochineas.
Bullion Money is a proud supporter and distributor of the ABC Bullion branded bars. You can purchase ABC bars through Bullion Money here
About the London Bullion Market Association
The London Good Delivery List of Acceptable Refiners of gold and silver is maintained by the LBMA, by whom it is copyrighted. It lists those refineries whose gold and silver bars have been found, when originally tested, to meet the required standard for acceptability in the London bullion market. The List now includes 73 gold and 82 silver refiners. The LBMA is the international trade association that represents the wholesale over-the-counter market for gold and silver bullion. The LBMA undertakes many activities on behalf of its members, including the setting of good delivery and refining standards, the organisation of conferences and other events and serving as a point of contact for the regulatory authorities. See www.lbma.org.uk
WE HAVE A NEW WEBSITE.
This is mostly (99.9%) fantastic news. Our site is:
- More secure
- More reliable
- Easier to use
- AND has some features coming up that we think you will absolutely love!
The bad news (for a little bit) is your unallocated and stored holdings has not been transferred to your new account dashboard. DON'T PANIC! We are aware of this issue and all your holdings will be available in your account by 25/11/2015.
However, if you have an existing account with us already - you will need to reset your password (you can change it to your current password if you like). This is because it is impossible for us to move your old password across to the new system (because we don't know it!).
To make this process as easy as possible we have listed the step by step instructions below for you. If you have any trouble what-so-ever we are HERE TO HELP. So please don't hesitate to send us an email or give us a call on 1300 722 337
We truly hope you like the new website and welcome any feedback - good, bad or otherwise.
How to Reset Your Password
Last year the Chinese Panda coins were absent of a weight inscriptions on both silver and gold coins. The coins remained the same purity, weight and denomination as precious years. The removal of the weights from the coins was a big move in the bullion coin market. This year the Chinese mints have taken it 1 step further and are abandoning the the Troy oz measurement.
The new 2016 silver panda coins will now be a round 30 grams instead of 31.10 (1 troy oz) The smallest gold Panda coins will now be 1 gram instead of 1/20 oz
| Prior Pandas in OZ | Prior Panda in G | 2016 Pandas in OZ | 2016 Pandas in G | |
| Gold Pandas | ||||
| 5 Yuan | 0.05 | 1.55 | 0.0322 | 1 |
| 10 Yuan | 0.10 | 3.110 | 0.0965 | 3 |
| 25 Yuan | 0.25 | 7.77 | 0.2572 | 8 |
| 50 Yuan | 0.50 | 15.55 | 0.4823 | 15 |
| 100 Yuan | 1.00 | 31.1035 | 0.9645 | 30 |
| Silver Pandas | ||||
| 10 Yuan | 1.00 | 31.1035 | 0.9645 | 30 |
With 1.35 billion people, China has the world’s largest population. Its gold reserves are the fifth highest in the world and are currently valued at around £39.9 billion – a 60% increase since 2009. There’s no doubt that there is a healthy appetite for gold within the country, therefore it makes sense for them to go after the national market rather than concentrate on international sales.
The majority of the English-speaking world, including the US, Australia and the UK, use troy ounces when calculating precious metal prices. The UK’s A.M. and P.M. gold fixes are provided by the London Bullion Market Association, who also use the measurement. Furthermore, most bullion coins are issued in multiples or fractions of troy ounces as a standard. You could say the modern market is built around the troy ounce.
By altering the weight of the coins the pandas will no longer be in direct competition with those from the world’s leading mints, such as Britannias, maples, eagles or krugerrands. Whilst converting into troy ounces or grams isn’t a hard task (here at Chard we’re used to dividing or multiplying everything by 31.1035 – those six digits are all but branded into our brains) it could potentially put customers off. It requires some knowledge on converting the spot price into grams (or the coin into troy ounces) which the average investor may find off putting – people didn’t like changing from imperial to metric after all!
On the other side of the argument, are troy ounces outdated? When it comes to bars, or larger coins, we tend to use grams and kilos anyway. Sovereigns weigh 7.98g and contain just under quarter of a troy ounce (0.235oz) of gold. The weight doesn’t discourage customers, in fact, they’re probably our most popular gold bullion coin. What sets sovereigns apart from pandas though is the rich numismatic history which precedes modern standards.
At Bul
lion Money we have customers all around the world. International clients have asked us if they can make payment in US dollars into a US Bank account. This is certainly possible! To create your order in USD, make sure to click the "USD" button located on the top right of the website. (see image) All prices shown on our website will be converted to US Dollars. Simply follow the normal checkout procedure and the order total will be in USD and our US Bank details will be provided. If you have any queries please contact us via email or phone.
US BANK DETAILS:
Citibank
3990, South Maryland Parkway
Las Vegas, 89119, Las Vegas
Account Name: Bullion Money, LLC
Routing #: 322 271 724
Account #: 000205555832
The official advertising embargo release of the Lunar Goat/Sheep coins is 13th of August, at this point Bullion Money will release the images of the new coins and pre-sell the year of the goat coins. Delivery of the coins to Bullion Money will happen after 1st of September 2014. The coins will be available to our clients and public proceeding this date.
Along with the Lunar bullion coins the following bullion series coins embargo will also finish 13th August and be released as per dates advised;
The 1 oz Silver Goat 2015 and the 1 oz Gold Goat coins have a limited mintage of 300,000 and 30,000 respectively. Typically the Year of the Goat isnt considered an exciting animal unlike the recent Lunar Year animals like the Dragon, Horse and Tiger. However if the past years are anything to go by, these coins will sell out very quickly from the Perth Mint. The only other coins in the Lunar Year series which have a limited mintage are the 10 kg Silver and gold coins. These coins are restricted to approx 100 by the Perth Mint. It is also worth noting the Year of the Goat had very strong sales in the Lunar Series 1 released by Perth Mint.
Silver 2015 Year of Goat Coins - 3 goats (Family) stylised in a rural scene with tree branches overhanging the top left part of the coin along with the chinese character for 'goat' incsribed above the goats.
Gold 2014 Year of the Goat Coins - A mature goat depicted in front of stylised mountains perched on rocks. The goat has large curved horns. The chinese inscription of 'goat' appears on the left portion of the coin
2015 Gold Kangaroo coins - 1 bouncing kangaroo which appears to be crossing the Australian outback highlighted with shrubs/grass and distant trees in the background. A large full moon is depicted on top right hand side of the coin. The large 1 KG gold kangaroo design will remain the same as per previous years. (Red Kangararo centered around a stylised border)
Silver 2015 Kookaburra coins - This is the special 25th Anniversary edition. (25 years since the release of the silver kookaburra coins). The Perth Mint have decided to keep the design of this coin as per the first Kookaburra coin released in 1990. A single kookaburra sitting on a tree stump surrounded by eucalyptus leaves.
Silver 2015 Silver Koala coins - Large adult koala sitting in betweem the wedge of a tree. The Australian bush landscape occuppies the background.
Infographic: Gold and the best 5 Reasons to own it! (Diversify Portfolio, Store of value, Safe haven, The fundamentals, Contrarianism and value.
NEW YORK (MarketWatch) — Gold prices pushed above US$1,300 on Thursday propelled by continued tension in Iraq and signals from Federal Reserve Chairwoman Janet Yellen that short-term rates can be held steady for a while longer.
Gold for August delivery GCQ4 +0.20% jumped $41.40, or 3.3%, to settle at $1,314.10 an ounce on the Comex division of the New York Mercantile Exchange. That’s the highest level since April 14, tracking the most-active contracts, according to FactSet data. July silver SIN4 +0.42% added 87 cents, or 4.4%, to end at $20.65 an ounce.
President Barack Obama said Thursday the government would send 300 military advisers to Iraq amid escalated violence. The U.S. has indicated that it wants a government in Iraq that can work with the country’s Sunni population, perhaps one without current Prime Minister Nouri al-Maliki, according to The Wall Street Journal.
Iraq has been “a background factor that’s helping to elevate gold,” said Brien Lundin, editor of Gold Newsletter. “I think the generally dovish interpretation of the Fed policy statement yesterday has also helped gold,” he said, adding that the two factors pushed gold futures toward technical levels that further accelerated gains.
Yellen on Wednesday refused to shed light on when the central bank could hike interest rates, emphasizing that there’s no “mechanical formula” for future increases. She also said that recent inflation data were “noisy,” dismissing some speculation that the Fed could tighten policy based on data showing higher inflation. A continuation of low interest rates in the U.S. would benefit gold, as they make alternative assets such as gold more attractive.
Still, the market is beginning to appreciate that “retail price inflation will become an issue in the U.S. economy,” said Lundin.
The dollar DXY -0.01% fell against major rivals Thursday, making dollar-denominated commodities less expensive for foreign investors.
Weekly jobless claims declined by 6,000 to 312,000 last week, roughly in line with expectations, according to data released Thursday.
“Geopolitical flash points will continue to be very closely monitored for new developments,” said Kitco’s Jim Wyckoff. “Both situations are likely to worsen before they become better. The gold market, crude oil, U.S. Treasuries and the U.S. dollar should all at least see limited selling interest as these two developments play out.”
Elsewhere in metals trading, July platinum PLN4 -0.42% added $23.70, or 1.6%, to end at $1,474.50 an ounce, while September palladium PAU4 -0.35% rose $15.95 or 1.9%, to settle at $838.60 an ounce. High-grade copper for July delivery HGN4 -0.18% added 2 cents, or 0.6%, to end at $3.08 a pound.
Author: Saumya Vaishampayan is a MarketWatch reporter based in New York. You can find her on Twitter @saumvaish.
Here is the latest infographic for silver, outling the importance of this element in modern day technology, health care and medicine.
Bullion Money is one of Australia’ most trusted and largest bullion dealer. We pride ourselves on unparalleled service and offer the highest quality of Gold and Silver bars, coins and bullion online and in our Showroom located in Sydney, Australia. Our objective is to provide you the products, services, resources and investing knowledge to help you attain your investment goals. Approved distributors of ABC Bullion Gold, Perth Mint Products and PAMP
