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Gold And Bullion For Financial Planning MCOM Sem 1 Delhi University  Complete Notes

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Gold And Bullion For Financial Planning MCOM Sem 1 Delhi University  Complete Notes

Gold And Bullion For Financial Planning MCOM Sem 1 Delhi University  : Bullion is gold, silver, or other precious metals in the form of coins, ingots, or bars. Typically bullion is used for trade on a market. The word bullion comes from the French Minister of Finance under Louis XIII, Claude de Bullion.

The value of bullion is typically determined by the value of its precious metals content, which is defined by its purity and mass. To assess the purity of gold bullion, the centuries old technique of fire assay is still employed, together with modern spectroscopic instrumentation, to accurately determine its quality in order to ensure the owner receives fair market value for it. It is also weighed extremely accurately.

Download Here Gold And Bullion For Financial Planning MCOM Sem 1 Delhi University  Complete Notes In PDF Format 

Retailers may sometimes market ingots and bars of base metals, such as copper, nickel, and aluminium as bullion, but this is not a widely accepted definition.

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As investment

Gold bars, the typical form of bullion

The specifications of bullion are often regulated by market bodies or legislation. In the European Union, the minimum purity for gold bullion, which is treated as investment gold with regards to taxation, is 99.5% for gold bullion bars and 90% for bullion coins.

There may be several reasons that investors choose to purchase physical gold bullion; to attempt to hedge against currency risks, inflation risks, geopolitical risks, or to add diversification to an investment portfolio.

London bullion market

The London bullion market is an over-the-counter market for wholesale trading of gold and silver. The London Bullion Market Association (LBMA) coordinates activities of its members and other participants in the London bullion market.

The LBMA sets and promotes quality standards for gold and silver bullion bars. The minimum acceptable fineness of the Good Delivery Bars is 99.5% for gold bars and 99.9% for silver bars.

Coins

Bullion coins describe contemporary precious metal coins minted by official agencies for investment purposes. Historically, most currency were in the form of bullion coins, silver and gold being the most common metals. Some bullion coins have been used as currency throughout the 20th century, like the Maria Theresa thaler and the Krugerrand. However, modern bullion coins generally do not enter common circulation despite having legal tender status and a nominal face value. Some modern bullion coins, such as the gold and silver American eagle, are produced as both business strike and collectible proof and uncirculated versions. Business strikes typically are sold at prices commensurate with their precious metal content, whereas collectible versions are sold at a significant premium over their actual bullion value. In some cases the grade and mintages of business strike coins can affect their value, so that they are considered numismatic rather than bullion items.

Uses

A range of professional market participants is active in the bullion markets: banks, fabricators, refiners and vault operators or transport companies as well as brokers. They provide facilities for the refining, melting, assaying, transporting, trading and vaulting of gold and silver bullion.

Besides the direct bullion market participants, other professional parties like investment companies and jewelers use bullion in the context of products or services which they produce or offer to customers. For example, shares of the world’s largest Gold exchange-traded fund, the SPDR Gold Shares represent ownership in vaulted gold bullion.

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Private individuals use bullion primarily as an investment or potential store of value. Gold bullion and silver bullion are the most important forms of physical precious metals investments. Bullion investments can be considered as insurance against inflation or economic turmoil and may not entail direct counterparty risk.

Compared to numismatic coins, bullion bars or bullion coins can typically be purchased and traded at lower margins and their trading prices are closer to the values of the contained precious metals.

Gold And Bullion For Financial Planning MCOM Sem 1 Delhi University  Complete Notes

Gold And Bullion For Financial Planning MCOM Sem 1 Delhi University  : A bullion coin is a coin struck from precious metal and kept as a store of value or an investment, rather than used in day-to-day commerce. The United Kingdom defines investment coins more specifically as coins that have been minted after 1800, have a purity of not less than 900 thousandths and are, or have been, legal tender in their country of origin. Under United States law, “coins” that fail the last of these requirements are not coins at all, and must be advertised as “rounds” instead. Bullion coins are usually available in both gold and silver[citation needed], with the exceptions of the Krugerrand (note in 2017 the first silver Krugerrand was minted) and the Swiss Vreneli which are only available in gold. The American Eagle series is available in gold, silver and platinum,[5] and the Canadian Maple Leaf series is available in gold, silver, platinum, and palladium.

Bullion coins are typically available in various weights. These are usually multiples or fractions of 1 troy ounce, but some bullion coins are produced in very limited quantities in kilograms or heavier.

Bullion coins sell for a premium over the market price of the metal on the commodities exchanges. Reasons include their comparative small size and the costs associated with manufacture, storage and distribution. The amount of the premium varies depending on the coin’s type and weight and the precious metal. The premium also is affected by prevailing demand.

The ISO currency code for gold bullion is XAU. ISO 4217 includes codes not only for currencies, but also for precious metals (gold, silver, palladium and platinum; by definition expressed per one troy ounce, as compared to “1 USD”) and certain other entities used in international finance, e.g. special drawing rights.

Gold And Bullion For Financial Planning MCOM Sem 1 Delhi University  Complete Notes

Gold And Bullion For Financial Planning MCOM Sem 1 Delhi University  :The European Commission publishes annually a list of gold coins which must be treated as investment gold coins (e.g. by being exempt from VAT) in all EU Member States. The list has legal force and supplements the law. In the United Kingdom, HM Revenue and Customs (HMRC) have added an additional list of gold coins alongside the European Commission list. These are gold coins that HMRC recognise as falling within the VAT exemption for investment gold coins. The following list presents only the most common coins included in the European Commission list.

List of gold bullion coins
Country Name of bullion coin Fineness Denominations (gold weight)
mainly expressed in troy ounces (ozt)
Years of mintage
Australia Gold Nugget .9999 1/20 ozt, 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt,
2 ozt, 10 ozt, 1 kg
1986–present
1991–present
Australia Lunar Series I .9999 1 ozt 1996–2007
Australia Lunar Series II .9999 1/20 ozt, 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt, 2 ozt, 10 ozt, 1 kg, 10 kg 2008–19
Austria Vienna Philharmonic .9999 1/25 ozt, 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt 1989–present
Canada Maple Leaf .9999
(.99999 available)
1/20 ozt, 1/15 ozt, 1/10 ozt, 1/5 ozt, 1/4 ozt,
1/2 ozt, 1 ozt, 100 Kilo
1979–present
China Gold Panda .999 (1982-2015) 1/20 ozt, 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt
(since 2016) 1g, 3g, 5g, 8g, 15g, 30g, 50g, 100g, 150g
1982–present
France 20 Francs Napoleon .900 0.1867 ozt 1806–1914
India Indian Gold Coin .999 5 grams, 10 grams, 20 gram bar 2015-present
Israel Jerusalem of Gold Series .9999 1 ozt 2010–present
Kazakhstan Golden Irbis .9999 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt 2009–present
Malaysia Kijang Emas .9999 1/4 ozt, 1/2 ozt, 1 ozt 2001–present
Mexico Libertad .999 1/20 ozt, 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt 1991–present
Mexico Libertad .900 1/4 ozt, 1/2 ozt, 1 ozt 1981–90
Mexico Centenario (50 Pesos) .900 1.20565 ozt 1921–31
Periodically 1943–72
New Zealand Gold Kiwi .9999 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt  ?-present?
Poland Orzeł bielik .9999 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt 1995–present
But[clarification needed]
2001, 2003 and 2005
Poland Bene Merentibus .9999 1/2 ozt, 1 ozt 2012
Philippines Ang Bagong Lipunan series (5000 pesos) .999 2.21 oz 1972
Philippines Ang Bagong Lipunan series (1000 pesos) .999 2879 oz 1975
Philippines Visit of Pope John Paul II (1,500 pesos) .999 1/2 ozt 1980
Philippines 6th aniversay of Restoration of Democracy (10,000 pesos) .999 1/2 ozt 1992
Russia George the Victorious .999 0.2537 ozt 2006–present
Somalia Elephant .999 1/50 ozt, 1/25 ozt, 1 ozt, 5 ozt 1999–present
South Africa Krugerrand .9167 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt
1/50 ozt for 2017 (50th anniversary year)
1967–present
Switzerland Vreneli .900 0.0933 ozt, 0.1866 ozt 1897–1936
1947 and 1949
Ukraine Archangel Michael .9999 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt 2012–present
United Kingdom Sovereign .9167 7.3224 g = 0.2354 ozt 1887–1932
1949–52 (dated 1925)
1957–59
1962–68
1974, 1976, 1978–82
2000–present
United Kingdom Britannia .9167 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt 1987–2012
United Kingdom Britannia .9999 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt 2013–present
United Kingdom Lunar .9999 1 ozt 2014–present
United Kingdom The Queen’s Beasts .9999 1 ozt, ¼ ozt 2016–present
United States Gold Eagle .9167 1/10 ozt, 1/4 ozt, 1/2 ozt, 1 ozt 1986–present
United States American Buffalo .9999 1 ozt 2006–present
United States Double Eagle .900 0.9675 ozt 1849–1933
USSR Chervonets .900 0.2489 ozt 1975–82

Gold And Bullion For Financial Planning MCOM Sem 1 Delhi University  Complete Notes

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