What is Gold Dust? People ask.
Gold dust is the form of gold that is collected by panning for gold or other forms of placer mining and is composed of flakes and occasionally small nuggets.
If you want to sell gold dust, the easiest way to do so is to find a company that can assay (test) and refine the gold. There are several ways to sell gold dust either online or through a local dealer. Whichever method you choose, the steps you need to take are pretty much the same. Caution has to be taken when selling Gold dust. Remember, you can never sell Gold Dust on facebook. I have been a victim of fraud on facebook. People without phone numbers will claim to have Gold Dust or are buying when in actual sense, they just either want to robe you of your money, or swindle you of your Gold Dust. Generally, these people have no knowledge whatsoever of what is involved in Gold marketing or any other form of precious minerals.
Below are the steps you would consider taking to sell your Gold Dust
Instructions
1.
* 1
Find out what the current market prices are for gold. Prices for both refined gold (gold bullion and investment coins) and unrefined gold vary with the commodity price of the metal and can change from day to day.
* 2
Have your gold dust tested (assayed). Assaying determines whether your gold dust is real gold and what the purity is. Buyers will want to see an assay report before purchasing your gold dust.
* 3
Locate a dealer to buy your gold dust. In many cases, assay services also refine precious metals, so you may be able to test and sell gold dust at the same time.
* 4
Sell your gold dust. You will not get a price per ounce equal to the daily spot price of gold because the buyer must allow for the costs of refining the gold dust. However, good buyers will give you fair prices, especially if you get quotes from multiple buyers.
* 5
Maintain careful records of your transactions. When you sell gold in any form and make a profit, you will need to declare it on your tax return.
Above all, buyers are more interested in dealing direct with the trusted person they know and would rarely engage in direct talks with the Seller because this reduces the risk of losing their money to someone they don't know. Buyers generally don't pay people like me. I generally make money from the sellers themselves. Some sellers though are difficult to deal with. They have no clue how much is involved in travelling to meet all these people and remember, not everyone will end up buying. Such Sellers have remained stagnant. If you want to make money, use lose a bit of money. Truthfully speaking, what you end up paying as commission is absolutely nothing compared to what you make.
Also, there are times when a Seller and Buyer start to deal directly and that is the time when the Middle man loses everything. This is business and it is expected. My message, Be careful and prudent in your business.
Above all; ALL THINGS WORK FOR GOOD TO THOSE THAT LOVE AND TRUST THE LORD! God is my Director and I work through him who strengthens me.
By Mweemba Mwiinde
Showing posts with label Trade: Precious Metals. Show all posts
Showing posts with label Trade: Precious Metals. Show all posts
Monday, June 27, 2011
Sunday, June 26, 2011
Gold Mining and The World Prices and Pricing
Gold Price Projections Up on Rising Demand
JUNE 25, 20110
The below information with regard measurements are in Ounces (Oz) and for simplicity's sake note that a kilogram equal 35.27 Ounces
(1kg = 35.27 Oz)
More often than not, African small scale miners underestimate the true world value of their mineral assets. This is due to various factors as I have observed.
Firstly, the lack of proper access to real information. Africans have always been exploited. There is no proper flow information available to assist them get the best out of their resources. This lenders them to just sell at a price generally imposed to them by the potential buyer and this has left many of them hard working brothers and sisters poor while those than exploit them go away smiling with fat pockets. This is especially so with Corporations. The trick the Corporate clients use is their offer to purchase in bulk. This leaves a poor person without an option but to sell and earn a few million dollars that are in actual sense just a fraction of the real value. My advice, don't rush, take your time, spend some money on research (Consultation) from a knowledgeable and trusted person. I can always assist.
Secondly, the lack of modern mining equipment. Capital resources are hard to come by in Africa. I have observed with disappointment the inability for most African banks to support the small scale businesses. This is absolutely a shame. One cant easily walk into a bank and acquire say $10m to help boost their output capacity. African banks ave no confidence in their own. This results in our people committing to foreign partners with the offer sharing the earnings. A westerner will always be happy to tag along in this. Remember, you don't know the true value of your product. He does.I have seen instances where one is said to be unable to to pay back and normally that leads to the loss of your mine to your lender. This has happened to many African miners and farmers alike. We must bring this to an end.
I will not offer the answers to the above challenges just here but I do have some suggestions for free. God says "My people perish because of lack of knowledge". Below is the information that can come handy to those that need it in Budgeting and Forecasting as gathered and compiled by me.
On June 13, the CEO of Newmont Mining (NYSE.NEM) – the second-largest world gold producer – expressed his expectations of gold hitting $1,600 this year, and higher next year. UBS Investment Research has gone out on a limb with near-term projections: Its one-month gold forecast dropped from $1,500 to $1,475, but its three-month projection is up from $1,400 to $1,600. GFMS projects that gold will reach around $1,620 by the end of this year.
Standard & Poor’s projections remain stubbornly lower, in spite of having been way off target for half the year., They did raise their forecast for the remainder of this year from $1,100 to $1,200 per ounce.
Overall, analysts and market players are quite optimistic about gold. Here is a brief summary of why.
First, there’s robust jewelry and investment demand from Asia, China, and India in particular. High inflation and lack of reliable alternatives to preserve wealth are directing financial flows of a burgeoning middle class into gold. In 2010, China and India accounted for 51% (around 1,570 tonnes or 50.5 million troy ounces) of the world gold consumer demand; this year it’s 58%. Investment demand for gold bars in China is flourishing as well; it more than doubled, from 41 tonnes in Q1 2010 (1.3 million troy ounces) to 93.5 tonnes (3 million troy ounces) in Q1 2011.
As a mental exercise, consider this: If the demand keeps growing at the same rate as it did in the first quarter of 2011, we may see overall 2011 growth at a surely market-impacting 20.9%.
Second, investors in the United States consider gold as a safe heaven, the need for which is driven by sovereign debt crisis and loose fiscal policy in the U.S. According to World Gold Council data, bar and coin investment demand in the U.S. continues growing: from Q1 2010 to Q1 2011, it has surged by 54% (from 469,400 to 723,400 ounces). “Fear trade” is still the name of the game here as risk aversion borne by the fears over a Greek default dominates global markets and European banks turn net gold buyers for the first time since the inception of the euro. In the U.S., jobless claims remain high (albeit somewhat lower than their April peak), while the country’s current account balance demonstrates a widening deficit, and consumer confidence fell to a two-year low.
In this environment, betting on gold as a safe haven becomes the way to go. High demand for gold in Asia has roots both in culture and in the current economic conditions – inflation across developing economies, and the overheating of Chinese real estate market specifically. As Chinese authorities try to battle the real-estate bubble by putting price controls on housing, the sector becomes less attractive for investment, which spurs demand for other asset classes, including gold.
European and U.S. economies are far from overheating, as the factors mentioned above constitute a rather dire economic picture. But whether fear comes from overheating or underperforming, fear drives people to gold. That trend remains extremely solid, and is the basis of much of my speculation.
Stay tuned for more from me on this topic.
Mweemba Mwiinde Krushev
JUNE 25, 20110
The below information with regard measurements are in Ounces (Oz) and for simplicity's sake note that a kilogram equal 35.27 Ounces
(1kg = 35.27 Oz)
More often than not, African small scale miners underestimate the true world value of their mineral assets. This is due to various factors as I have observed.
Firstly, the lack of proper access to real information. Africans have always been exploited. There is no proper flow information available to assist them get the best out of their resources. This lenders them to just sell at a price generally imposed to them by the potential buyer and this has left many of them hard working brothers and sisters poor while those than exploit them go away smiling with fat pockets. This is especially so with Corporations. The trick the Corporate clients use is their offer to purchase in bulk. This leaves a poor person without an option but to sell and earn a few million dollars that are in actual sense just a fraction of the real value. My advice, don't rush, take your time, spend some money on research (Consultation) from a knowledgeable and trusted person. I can always assist.
Secondly, the lack of modern mining equipment. Capital resources are hard to come by in Africa. I have observed with disappointment the inability for most African banks to support the small scale businesses. This is absolutely a shame. One cant easily walk into a bank and acquire say $10m to help boost their output capacity. African banks ave no confidence in their own. This results in our people committing to foreign partners with the offer sharing the earnings. A westerner will always be happy to tag along in this. Remember, you don't know the true value of your product. He does.I have seen instances where one is said to be unable to to pay back and normally that leads to the loss of your mine to your lender. This has happened to many African miners and farmers alike. We must bring this to an end.
I will not offer the answers to the above challenges just here but I do have some suggestions for free. God says "My people perish because of lack of knowledge". Below is the information that can come handy to those that need it in Budgeting and Forecasting as gathered and compiled by me.
On June 13, the CEO of Newmont Mining (NYSE.NEM) – the second-largest world gold producer – expressed his expectations of gold hitting $1,600 this year, and higher next year. UBS Investment Research has gone out on a limb with near-term projections: Its one-month gold forecast dropped from $1,500 to $1,475, but its three-month projection is up from $1,400 to $1,600. GFMS projects that gold will reach around $1,620 by the end of this year.
Standard & Poor’s projections remain stubbornly lower, in spite of having been way off target for half the year., They did raise their forecast for the remainder of this year from $1,100 to $1,200 per ounce.
Overall, analysts and market players are quite optimistic about gold. Here is a brief summary of why.
First, there’s robust jewelry and investment demand from Asia, China, and India in particular. High inflation and lack of reliable alternatives to preserve wealth are directing financial flows of a burgeoning middle class into gold. In 2010, China and India accounted for 51% (around 1,570 tonnes or 50.5 million troy ounces) of the world gold consumer demand; this year it’s 58%. Investment demand for gold bars in China is flourishing as well; it more than doubled, from 41 tonnes in Q1 2010 (1.3 million troy ounces) to 93.5 tonnes (3 million troy ounces) in Q1 2011.
As a mental exercise, consider this: If the demand keeps growing at the same rate as it did in the first quarter of 2011, we may see overall 2011 growth at a surely market-impacting 20.9%.
Second, investors in the United States consider gold as a safe heaven, the need for which is driven by sovereign debt crisis and loose fiscal policy in the U.S. According to World Gold Council data, bar and coin investment demand in the U.S. continues growing: from Q1 2010 to Q1 2011, it has surged by 54% (from 469,400 to 723,400 ounces). “Fear trade” is still the name of the game here as risk aversion borne by the fears over a Greek default dominates global markets and European banks turn net gold buyers for the first time since the inception of the euro. In the U.S., jobless claims remain high (albeit somewhat lower than their April peak), while the country’s current account balance demonstrates a widening deficit, and consumer confidence fell to a two-year low.
In this environment, betting on gold as a safe haven becomes the way to go. High demand for gold in Asia has roots both in culture and in the current economic conditions – inflation across developing economies, and the overheating of Chinese real estate market specifically. As Chinese authorities try to battle the real-estate bubble by putting price controls on housing, the sector becomes less attractive for investment, which spurs demand for other asset classes, including gold.
European and U.S. economies are far from overheating, as the factors mentioned above constitute a rather dire economic picture. But whether fear comes from overheating or underperforming, fear drives people to gold. That trend remains extremely solid, and is the basis of much of my speculation.
Stay tuned for more from me on this topic.
Mweemba Mwiinde Krushev
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