The Perth Mint has unveiled Australia’s greatest gold icon in New York City for a rare one day event to celebrate the official launch of The Perth Mint Physical Gold Exchange Traded Fund (NYSE Arca: AAAU) on the New York Stock Exchange.
The one-of-a-kind Australian Kangaroo One Tonne Gold Coin is recognised by Guinness World Records as the largest coin ever created. Tipping the scales at 1,000kg of 99.99% pure gold, and measuring 80cm wide and 13cm deep, this masterpiece of precious metal engineering and craftsmanship is valued at more than AUD60million
Attracting the who’s who among the globe’s greatest precious metals investors, Western Australia – which accounts for more than 70% of Australia’s overall gold production - has cemented itself as a major destination to explore and mine for the famous yellow metal.
With this in mind, Australia’s largest precious metal event, The Precious Metal Investment Symposium (PMIS), has this year pulled up stumps and relocated from Sydney to WA’s capital and world-renowned mining hub, Perth.
This month marks the 10 year anniversary since Lehman Brothers, one of the highest profile casualties of the Global Financial Crisis (GFC), went bankrupt in the United States.
We spoke to Gold Industry Group Company Secretary Bron Suchecki, who was working at The Perth Mint at the time, and ABC Bullion Chief Economist Jordan Eliseo, about their memories from that time period.
The Perth Mint recently launched the Perth Mint Physical Gold ETF (NYSE Arca: AAAU), the first exchange-traded fund with sovereign-backed gold trading on the New York Stock Exchange (NYSE).
AAAU is guaranteed by the Government of Western Australia, with shares exchangeable for delivery of a wide range of gold products.
The value of a gold miner is based on the gold price but provides the investor with the opportunity to achieve a return in excess of the rise in the price of gold.
Recent investor articles have focused on investment in gold, be it physical or other products liked to the gold price. Those looking for exposure to gold prices can also invest in the producers of the gold itself.
When you are thinking of buying gold the first thing you should consider is where you are going to store your gold, as it affects what form of gold you may buy as well as who to buy it from.
There are three main ways to store gold.
In the last big bull market in gold in the 1970s, buying gold was straightforward with only a few options to choose from.
Today, investors are spoilt for choice, making the decision a lot more complex and confusing.
The gold industry is very particular when it comes to measuring gold, which is not surprising considering how valuable it is relative to its size.
While many countries moved to metric system, the precious metals industry globally continued to use the historic troy ounce as its basic unit of measure. If you think it is an unfair advantage for countries that didn’t change, like the USA, you would be wrong as a troy ounce is not the same as an ounce – is it actually heavier. It is its own unique measurement unit.