Buying Gold Bullion in Melbourne

The current gold price which is at 1380.43 AUD per troy ounce (31.1 g) has sparked a new kind of gold rush in the Australian territories. People are collecting junk in the form of scrap gold and converting their gold for cash in a variety of ways. Some collect electrical circuits and components and extracting the gold from them while others have realised that the old jewellery that they have containing gold is worth a lot of money.

Any 24 k gold items is worth AUD 46.60 per gram while 22 k gold items are worth AUD 42.73 per gram, but these karats are mostly for coins or bullions due to the fact that most jewellery are either 21 k, 18 k, or 15 k and some lesser valuable pieces are 14 k and 10 k, however these items are still worth a lot of money and can be easily converted to cash for other purposes instead of just lying in old boxes.

Selling gold, silver or other precious metals such as platinum and palladium is actually a very easy process that does not require more than a few minutes at any gold dealers in Melbourne and other places as the process is rather quite simple. As soon as you walk into one of these offices and meet a representative, they conduct an immediate assessment and valuation in front of your eyes.

This process is conducted using the XRF technology or X – Ray Fluorescence that could reveal the purity of the precious metal items in your possession and that you intend to sell. They process then proceeds to quantifying the total items and applied to the latest market prices of gold (spot gold prices) and payments are made almost instantly after this process is done.

The XRF machines that most of these companies use show the gold sellers and the gold buyers’ accurate calculations of the gold content and value that are derived from both purity and weight factors, making the dealing fair and just. The XRF testing method is approved by the government of Australia and is relatively 99.99% accurate (some may even go as far as saying it is 100 % accurate which is actually quite true), thus making gold dealing with companies that use these machines fair places to convert gold for cash.

These gold dealers accept anything from extracted gold, gold dust, nuggets, bullions and jewellery at fair prices that would definitely be acceptable by all parties, making it a win – win situation for everyone.

Many people buy gold bullion as a good way to protect their money as a long term investment, and the steadily increasing price of gold over the last few months have seen a slight drop in people selling gold as most of them are into a ‘buy gold’ mood. 

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