The 400 oz gold bar, also known as the Good Delivery Bar, is the largest physical investment in gold you can make today. But you can also buy affordable gold bars in many sizes that weigh as little as 1 gram (0.0322 troy ounces). Bars denominated in ounces and fractional ounces are the most common in North America and around the world. The most common sized gold ingot available worldwide is the 1-ounce gold ingot.
This is equivalent to approximately 31,105 grams of gold. Fractional ounce gold bars are rare, but are available. However, the most popular sized gold bars are 1-ounce gold bars followed by 10-ounce gold bars. Most European precious metals refineries that produce gold ingots in gram denominations will also release 1-ounce gold ingots.
These include Argor Heraeus and Valambi. While all of the gold bars GoldCore sells come from refineries and mints approved by the LBMA, the bars you receive may not necessarily be identical to those shown in the image. London Good Delivery 400-ounce gold bars have a fineness, or gold content, of at least 995.0 parts per thousand fine gold. When investing in gold, Irish investors should look for a form of gold that matches their long-term investment objectives.
Buy gold bars and coins weekly or monthly over several months or years, and plan to keep them for the long term. To determine the gold price of a London Good Delivery gold bar, simply multiply the weight of the bar in troy ounces by the purity of the bar and multiply it by the spot price of gold and add or subtract the gold bar premium. Smaller bars, including 1-gram and 5-gram gold bars, have much higher manufacturing costs compared to 1-ounce and 10-ounce gold bars. The global spot price of gold is based on interbank transfers of a large number of London Good Delivery ingots, each weighing 12.5 kilograms.
London Good Delivery gold bars don't weigh exactly 400 troy ounces, but range from 350 to 430 troy ounces, however, buyers only pay for the exact amount of troy ounces of the ingot they purchase. These would include London Good Delivery gold bars from prestigious refineries such as PAMP, Argor-Heraeus, Metalor and government mints, such as the Perth Mint. Most Irish investors who invest significant amounts will opt for 1-kilo gold bars, as they are low-cost, manageable, tradable and easy to store. In general, the gold premium of a gold ingot is determined by the actual cost of production, the logistics and availability of the ingot for sale, market-based competitive forces and the overall value of the gold that the customer wants to invest; as expected, larger sums can reduce gold premiums.
For Irish investors with an ultra-high net worth, 400-ounce gold bars may be considered, but only if they are stored securely. Most 400-ounce gold bars are owned by large institutions, governments and ingot banks and are located in official vaults such as the Federal Reserve Bank of New York and the Bank of England. The spot price of gold is defined as the price of one troy ounce of pure gold that is available for immediate delivery.