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Gold becomes the new toilet paper: Coin dealers report a huge increase in people buying bullion during the coronavirus pandemic

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"High pure gold," as it is called in the standards, refers to the gold with purity of 99.999 percent, or "five nines," and is also the highest purity so far, a spokesman with the National Gold Standardization Technical Committee said Friday.

Generally speaking, a gold ornament with an amount of metal reaching 99 percent is called "pure gold," and more than 99 percent is called "thousand pure gold."

Currently in the Chinese market, the highest purity level of a gold ornament usually reaches 99.99 percent, or "four nines."

With the purity of 99.999 percent, the "high pure gold" used to be used in high-tech industry, such as aerospace. It requires a higher quality of the raw material and a more complicated technological craft.

Which country has the best quality gold in the world?
China sets national standards for "highest pure gold"

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How much is a 24k gold brick worth?
As today's price of gold is $1,334.25 USD per Troy ounce, so the gold bar will be worth of approximately $531,031.50 USD. 12.4Kg is 398.67 Troy ounces.

For centuries, gold has been regarded as having a negative correlation with equities and a positive correlation with inflation. In other words, gold is a safe-haven investment during times of economic recession and a worthwhile store of value during expansionary periods.

Gold is one of those rare items with an absolute world value. Before I tell you how to buy gold, I will tell you how not to buy gold. Do not buy gold coins or jewelry. Gold coins sell for far more than the spot price of gold and will never be worth what you paid for them. The purity of gold is defined in karats. A karat is 1/24 part of pure gold by weight, so 24-karat gold is pure gold. For example, 12-karat gold is 50 percent pure gold. You can find the spot price of gold each day; today the spot price of gold is $1,353.37 per ounce of pure gold. You will never find gold for less than the spot price and it is difficult to find gold at the spot price. You will generally have to pay some premium above the spot price to purchase gold. The correct way to purchase gold is to purchase bullion. You can search the internet for a trustworthy site to purchase gold bullion, then pay as close as you can to the spot price for the day. If you attempt to purchase gold in any other way you are likely to purchase anything from pot metal to 10 karat gold. The most intelligent way to purchase gold is to buy as much weight as you can afford at a given time. You will pay closer to the spot price by purchasing a kilogram than purchasing a quarter of an ounce. . Pawn shops purchase gold and are frequently cheated. It is no small feat to cheat a pawn shop. The only way to know for sure what purity gold has is to have it assayed for fineness. Having a bar of gold assayed costs money, you would not want to go through that process for $100 worth of gold.

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Which country sells the cheapest gold?

Gold in Dubai is cheaper. Dubai has always been favoured for its exemption from taxes. Although introduction of the Value Added Tax, (VAT), in 2018 does levy a 5% tax on any items purchased, buying gold is still considerably cheaper in Dubai compared to other countries in the world.

Dubai, U.A.E., is an incredible and cheapest place to shop gold. Word gold pops up in mind whenever we think about Dubai. Dubai is very popular for the sale of gold. Gold Souk in Deira is very popular place for gold shopping. You will become speechless after seeing the crowds and the glittering display of gold everywhere. Gold is pure with good prices. Prices go down on special events and festivals. You will be surprised after seeing such rich amount of gold in Dubai.

How much is a 24k gold brick worth?
As today's price of gold is $1,334.25 USD per Troy ounce, so the gold bar will be worth of approximately $531,031.50 USD. 12.4Kg is 398.67 Troy ounces.

Thanks and have a happy day.