Gold Buying Procedures and Pricing as of 19 March 2020
You are aware that the World is in “unprecedented times” and so we are slightly bemused that the price of AU/Gold has been dropping. I have shown below the figures and format that we use – however, for someone to take up our option currently we need them to use a reputable freight forwarder. Our side is completely secure at every stage after arrival at the Airport.
We are having strong success with our new Trial protocol and would ask you to consider the information below. This trial is primarily aimed at small to medium Miners and co-operatives. It may not be of interest to Companies with large volumes for sale. Equally, there is a “prestige” that comes with having access to a Metals Account at a European Refinery and hopefully, with our assistance, that should be possible.
You will obtain the LBMA price – of 4% and with circa, 2% commissions ( in certain instances that may be increased, slightly, to 2½% ) by negotiation.
That equates, as at Thursday, 19th March 2020 afternoon settling the price of - $47,397.14
Nett after commissions ( -4% & -2%) = $44,591.23
Please check today's return here - http://www.lbma.org.uk/
You will be aware that this price can and does fluctuate.
You will also understand, we feel sure, that the price is calculated on the 24-carat price achieved after assay at the Refinery. A full assay sheet will be provided.
How does this work?
A. You agree to provide compliant documentation showing that the Au/Gold is NOT from conflict zones and has NOT been mined using child labor. I don’t envisage that being a challenge for your Country, BUT we have to be certain.
B. Either accompany or nominate a representative/relative with a Schengen visa or consign, via your own freight Company, a modest trial of between 5 (minimum) to 25 (maximum for trial) Kgs to either Frankfurt or Leipzig Airports. Where you (or your nominated representative) will be met and accompanied to the Refinery. You will provide the product to either Airport “tax paid.”
The buyer company shall take care of all Importation duty, security, and transportation to the Refinery. Your Freight forwarding Company will be provided with the Refinery address to guarantee safe direct passage. Payment will be made as soon as the successful assay has been completed.
An FCO or simple email would be a good starting point, confirming that you are in agreement with the terms outlined to you.
See more details of how you can sell AU Dore Bars and Nuggets deliverd CIF to Germany
• Information for Sellers & Introducers re trial consignments of AU Metal
• Corona impact on procedures for trials
• Trial Consignment Protocol for delivery to German Refinery via Freight Forwarding
• Download the complete file here
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