THERE ARE MANY SITES ONE CAN EASILY VIEW TO PERSONALLY RESEARCH THE MARKET MOVEMENTS AND COMMENTARIES THAT WOULD GIVE YOU CURRENT INSIGHT AND INFORMATION ON KRUGERRANDS AS A GOLD CHOICE.
INFORMATION ON THE KRUGERRAND
The Krugerrand was the first gold coin to be denominated in ounces of pure gold: first year of issue was 1967, the fractionals were introduced (1/2oz, 1/4oz, or 1/10oz) in 1980. The Krugerrand can be bought from dealers and banks globally. Buying and selling Krugerrands internationally is easy. Krugerrands usually carry only a small premium (mark-up) over the value of their gold content – unlike collector or numismatic coins where the value is normally dependent on their rarity and condition.
Gold has been a store of value for thousands of years, and has been trusted by man to be a hard asset with an intrinsic value that is recognised worldwide. In some countries at certain times, the need to own gold may be overwhelming. At other times, it may be less so. Although the value of gold can go up or down, over the centuries millions of people in almost every country have benefited from owning gold at the right time.
Predicting the ‘right time’ has not always been easy, one needs to do thorough research and track market indicators closely. Individuals have often held gold as a form of insurance against the unexpected, or as a safety net for the preservation of their wealth. The decision should be a personal one and lies entirely in the hands of the decision maker.
INTERESTING FACTS ABOUT GOLD AND SOUTH AFRICA’S POSITION AS A GOLD PRODUCER IN GLOBAL MARKETS
THE GOLD PRICE PEAKED IN SEPTEMBER 2011 AT A HIGH OF JUST UNDER $2000 PER OUNCE.
PRODUCTION COSTS TO MINE EACH OUNCE OF GOLD KEEPS ON INCREASING AND FOR MANY MINES PRODUCTION COSTS ARE IN EXCESS OF THE CURRENT RULING GOLD PRICE
In 2012 world gold production reached 2,700 tonnes of gold *(USGS) – slightly higher than production in 2011 and marginally higher than 2,600 tonnes of gold in 2001 (previous highs). This increase masks major changes in the structure of production costs for gold mines around the world. In 2001, for 2,600 tonnes, an ounce of gold was worth $271. In this past year it was worth $1,669 (as at April 2013). For 3.8% of additional production, the price of an ounce of gold has risen 615%. Source – http://www.miningfeeds.com/ Dr. Thomas Chaize Contributing Editor. *(USGS) UNITED STATES GEOLGICAL SURVEY- is a scientific agency of the United States Government
HOW HAS SOUTH AFRICA DONE IN THE GOLD PRODUCTION RANKINGS OVER THE YEARS ?