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Posts Tagged World Market Price

Seller in Ghana that will bring gold to AA Minerals

Question

I went 13 times in Ghana to buy gold. I paid my registration to ASAP VASA and AA MINERALS. I met hundred of false sellers and even the real sellers make the scam in parallel. With my partner we lost 350,000 euro. I also met German people which has his mine at 250 km of Accra with many heavy machines but does not find a lot of gold, Ghana it is very hard for the business.

If you know a real gold seller in bush which agrees to go to AA MINERALS to smelt the totality of gold, thank you for informing me about it, you will have your commission. Thank you in advance.

Answer

There is no way to make money from simply buying and selling gold in Ghana.

If a seller is willing to bring gold to Accra from the bush, they would more than likely sell to AA Minerals before they would sell to you anyway as they have the reputation and facilities.

Also, AA Minerals pays 3% below world market price… They will sell to you at 2%, but unless you need gold for manufacturing, there is no way to make money buying and selling gold at those prices.

Incoming search terms:

Gold for sale on the internet at a discount

Question

I have buyers in USA looking for Africa Gold.  Why wouldn’t someone post gold for sale at a reasonable price on the internet?

Answer

Gold is never “for sale” – ever. Gold is MONEY and it is exchanged for currency (which is not money) from time to time to pay for labor and for fuel / continued mining costs, only because you can’t pay for such things in gold – or we would.

When you change currency from say USD to Ghana Cedis, there is a small exchange rate of 1-2%. any more than that would be too much – and so it is the same for gold. Gold is traded for currency from time to time, but only at a few percent below it’s daily value… therefore there is no gold “being sold” at some disproportionate value i.e. large % below the world market price.

You simply cannot make money trading gold = buying it for less than it is worth and selling it for more and yielding a profit. The competition is GLOBAL and the margins are thin. Gold is not like wheat, corn, coffee, or other physical commodities that don’t always trade at their index value – gold ALWAYS trades at, near or OVER full value, no matter where it the world the gold is available. If you can fly a plane there, or drive a car there – someone has an office paying world market less a few % already set up there.

… and if there is internet there – there is no way anyone would need to advertise gold on the internet for sale – that would mean that you could already fly a plane and drive a car there… and someone will have already set up an office there… buying gold at a few % below the world market price!

We can supply 10 kg gold dore bars weekly CIF

Question

Could you supply gold bars as 10kg every week to my buyer? its grade its 20carats, 94% to 96% , please issue quotation include CIF at the international Air Port of Cambodia. Please send to me COO, POP, SKR, take photograph gold and you stand with gold in your warehouse.

Answer

We do not supply gold to third parties. There are many reason, but the simplest one is that anyone with gold in Ghana can sell it for just a few percent below the world market price – all day every day.

Think about it like this, if there is enough infrastructure in a county to be able to provide POP or SKRs and ship the gold CIF to you or your “buyer”… then it could just as easily be shipped directly to any LBMA refinery on earth thus avoiding two middle men – you and your buyer.

POP and SKR documents are simply broker documents and no bank  from Africa issues such documents. 99.9% of all such documents anyone would show you will be fake. Precious metals, unlike many other commodities,  are not stored in wait of buyers. Precious metals supplies are not available like sugar, wheat, cement, or other commodities because there is NEVER an extra supply of gold “waiting for a buyer”.

No one that has gold needs help selling it, so you will never find a situation where there is a seller that will pay you a commission to find a buyer. Gold is the most liquid substance on earth and gold can be traded for cash in just about every city in the world including Africa.

 

Incoming search terms:

Gold Dore supply to Ghana Gold Refineries

Question

Do I understand correctly if I say that you supply gold dore to refineries out of Ghana?

Answer

There are many small scale mining companies that sell their production to the buying companies in the cities we work in on a daily or weekly basis. They are not “refineries”, they are actually gold buyers with legal offices set up in every city in Ghana where gold is found.

If you are going to ask if we can supply gold to you, the answer is we don’t supply gold to third parties – and the reasons are many. When the need arises to trade gold production for cash, it is to pay for expenses such as fuel or labor. This need is immediate and the local buyers have cash available and their offices and they are open every day. The going price the local buyers pay is 2-5% below the world market price every day all day.

Not only that, but the only place to ship gold out of Ghana is Accra, which is a minimum of 6 hour drive from the main gold bearing locations where we work. It simply is not worth the effort.

Would you or anyone ship gold to us based upon our BG

Question

Under what condition, if we get to that point, would you or anyone ship gold to based upon our BG?
What are your terms and conditions?

Answer

We do not sell gold to third parties nor accept instruments as viable trade mechanisms…. and neither does anyone else for that matter.

We definitely don’t know everything, but from our experience and from our research no one ships gold to third parties based upon instruments such as Bank Guarantees (BG). African banks do not accept them, so that is as far as our personal experience goes.

From a practical standpoint, there are dozens of accredited gold refineries all over the world. If we didn’t have one near us, we would be looking to ship directly to a refinery and get top dollar. No one needs / uses third parties when it comes to gold. Why?

Gold is money and one only trades gold for currency when they need cash to further their mining efforts. The daily world value of gold is no secret, and even the smallest boy in the most distant village knows the world market price of gold today. Just like when someone trades one currency for another there is always a small fee associated with the transaction, not some kind of disproportionate discount.

Everyone somehow imagines that distant countries don’t have access to the world market and the fact is if someone can ship gold to you, they can ship it anywhere on earth…. so why ship it to you?