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LBMA Good Delivery refiners produce 400-ounce gold bars or 1000 ounce silver bars (also known as ‘large’ or ‘market’ bars) that conform to the strict specifications described in the Good Delivery Rules. The Good Delivery Rules defines what is acceptable when it comes to the appearance and the shape of the bars themselves.
Good Delivery gold bar weighing 12.4 kilograms (400 ozt) Good Delivery silver bar weighing 31.1 kilograms (1,000 ozt) The Good Delivery specification is a set of rules issued by the London Bullion Market Association (LBMA) describing the physical characteristics of gold and silver bars used in settlement in the wholesale London bullion market. [1]
In 1792, the gold/silver price ratio was fixed by law in the United States at 15:1, [11] which meant that one troy ounce of gold was worth 15 troy ounces of silver; a ratio of 15.5:1 was enacted in France in 1803. [12] The average gold/silver price ratio during the 20th century, however, was 47:1. [13]
Platinum's current spot price is $1,004 an ounce, according to financial services company FactSet, which means that Costco's price is about 8% higher than the market value. Michigan voters share ...
Gold prices have surged 35% over the past year, recently topping the $2,900 per ounce mark. Rick Harrison, Gold & Silver Pawn Shop owner in Las Vegas, has noticed the trend firsthand.
It began selling $2,000 gold bars online in September and sold more than $100 million worth of the bars last quarter. But Costco’s move is more about marketing than just about increasing sales.
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