The gold market is a fast paced environment – if you are new to the business of bullion buying, trading, or selling, you will quickly find that there can be a lot of jargon in typical transactions. Here are some important terms you should know if you’re just starting out in bullion dealing:
Ask: The price that a seller will agree to in order to complete a sale. The “ask” will also sometimes be referred to as the “bid” or “spread.”
Bull-Run: When gold experiences a period of rising prices, it’s referred to as a “bull-run.” You can evaluate past bull-runs on our historical gold prices page.
Certificate: Gold certificates are a way of owning gold without taking a physical delivery of bullion.
Fine Weight: This represents the bullions millesimal fineness in terms of weight. In other words, the actual weight of the pure gold in sample of bullion, as opposed to its total weight.
Intrinsic Value: Refers to the value of the precious metal within a bullion coin, as opposed to any sentimental or historical value it may have.
New York Close: Due to time differences, the New York gold market closes after the London market does. Depending on economic factors, market fluctuations, etc., the gold price at New York close might be higher or lower than the London fix.
Contact MGS for details if you want to start selling our gold bullion bars through your storefront as our affiliates!