Your only trusted gateway to buying Pure Gold in East Africa- Uganda
While it can be traded as a commodity, Gold is more of a currency than a commodity. This is so because it is a bet against fiat currencies which hold no value other than perceived value based on government enforcement. Therefore, Gold is money and should be a priority form of savings.
Gold is money regardless of any reclassification as a commodity. It is more acceptable globally than any fiat currency and more durable than any current physical currency. Hence, it is an excellent protection of your time and effort . Since 1971, when the US dollar was removed from the gold standard, gold rose 3000% against the US Dollar. First of all, fiat currencies lose their value on a daily basis as more money is being printed out of thin air that is lent to bank which are loaned to you and others. There is no way to pay this debt back. Therefore, a financial collapse is on the horizon.The Mining industry of the Democratic Republic of the Congo is a significant factor in the world’s production of cobalt, copper, diamond, tantalum, tin, and gold. It is the Democratic Republic of the Congo’s largest source of export income. In 2009, the Democratic Republic of the Congo (DRC) had an estimated $24 trillion in untapped mineral deposits, including the world’s largest reserves of coltan and significant quantities of the world’s cobalt. The United States Geological Survey estimates that the DRC has 1 million tons of lithium resources.During the Second Congo War mass-scale looting of mineral assets by all combatant forces—Congolese, Rwandan, Ugandan and foreign civilians—took place.The small artisanal mining operations the fighters were robbing sometimes shut down afterwards and larger foreign businesses reduced operations as well. Much mining has been done in small artisanal mining operations, sometimes known as Artisanal and Small-Scale Mining (ASM).ASM operations employ a significant portion of the DRC’s population; estimates range up to one fifth of the population, or 12.5 million people. Uganda’s extractive industry activities have been identified by the Natural Resource Governance Institute as focused on “extraction of cobalt, gold, copper, iron ore, tungsten, steel and tin.The Rupa Gold mine of Karamoja, Uganda is an artisanal (informal) mine located approximately 10 km north of Moroto Town in Uganda’s Karamoja region. After years of instability caused by inter-clan cattle raiding and a decade-long military disarmament campaign in Karamoja, many people in the region have been finding alternatives to their traditional semi-nomadic pastoralist lifestyles.Gold extracted at Rupa is bought on-site by dealers from other regions of Uganda and neighbouring Kenya. It is then transferred to either Uganda’s capital, Kampala, or Nairobi, the Kenyan capital, for resale.The mining industry of South Sudan started operating from the time South Sudan became a regional government of Sudan in 2005. Gold is extracted by artisanal miners at Nanakanek.Gold, copper, lead, zinc, nickel, marble, and various rare earth metals were discovered but quantification was not done. Prospects for diamonds, gold, chromite, copper, uranium, manganese and iron ore are optimistic. Your only trusted gateway to buying and exporting pure Gold dore bars in East Africa- Uganda, Kenya, Tanzania, South Sudan and DR Congo from credible dealers.
HOW THE GOLD BUSINESS WORKS
Gold mines or mining sites together with dealers produce rough gold, called a dore bar. These bars are typically about 80-90% or slightly higher pure gold depending on the region. The gold is then sent to a refinery, where it is refined into gold of different forms and purity. Perhaps the most widely produced gold bars are the London Good Delivery bars. Under rules established by the London Bullion Market Association, LBMA, these bars — the gold standard of the gold world — must be at least 99.5 percent pure gold, weigh between 350 and 430 ounces (most weigh about 400 ounces), and be stamped with a unique serial number, the fineness, and the seal of the refiner. Only refiners approved by the LBMA. They have to maintain excellent laboratory and production facilities, and there is a proactive monitoring of these refineries on the good delivery list. These are usually the only bars that are used for vaulting and storing purposes by bullion banks. Up until this point, the gold will likely be owned by the mining company (in some cases a gold bullion bank may finance the mine’s activities as well). Once the gold is refined, ownership is often transferred to gold bullion banks.Depending on where the gold is mined, it will typically be flown by plane to a bank vault in another country: the U.S., the U.K., Dubai, India, China, Australia, anywhere gold may be needed.Bullion banks are the middleman of the gold world. Miners produce gold, but they might not produce it at the same time that consumers want to buy the metal. The price of gold is determined by supply and demand. There isn’t one gold market; there are many. The primary over-the-counter market, OTC, where the “spot” or cash price of gold is determined, is in London, but there are also OTC markets in New York, Dubai, and even in Turkey. Much of the trading in gold occurs in the over-the-counter market on gold trading desks around the world. What do these desks do? They facilitate trading. They trade gold on behalf of their clients (miners, central banks, ETFs, jewelry and industrial manufacturers, etc.) and in some cases trade for their own accounts. Some clients also want to borrow or lend the physical metal.The London fix, which is the primary benchmark price for gold. The purpose of the fixing is to provide a tradable benchmark price. How the London fix works: There are two daily “fixings”, a fix at 10:30 in the morning, and a PM fix at 3 o’clock in the afternoon. The fixing is actually a company, called the London Gold Fixing Limited, and the 5 members of the fixing are HSBC, Deutsche Bank, Barclay’s, Societe Generaleand ScotiaMocatta. There is a chairman, and each one of the fixing members has a line to other dealers. Think of it like a pyramid structure: the chairman nominates a price, and the five members pass this information down to their clients, who pass it to other interested parties. The fixing is a price at which buyers and sellers are matched at a particular time of day, and because it’s open, transparent and tradable it represents a very credible benchmark price. There are lots of different gold prices around the world, so why doesn’t gold trade at wildly different prices? Because arbitrageurs (often on gold trading desks) step in to buy gold in one place, and sell it in another. While much of the gold supply is vaulted (held for investors like ETFs, or central banks), about half of the world’s gold ends up as jewelry. Much of the gold used for jewelry is leased. Users borrow gold to avoid the risk that gold prices may move against them. They pay a fee to borrow the gold and the title remains with the bank. Ownership is transferred when a final product is manufactured. Let’s take the example of India, the largest consumer of gold in the world. A wholesaler in the India market would typically be a bank. They will have a relationship with a bullion bank and say, for example, “I would like 2 tons of one-kilo gold bars at a 99.5 purity level.” The bullion bank, if they have that size and purity of gold, can forward it to the Indian bank. If they do not have that type of gold immediately available, but in another form (different size bars, or different purity level), they can forward the gold they have to a refinery who is capable of refining the gold to the specifications the bank requires, and then ship it out from the refinery to the bank in India. The bank will then typically forward the gold (often on consignment) to a major jewelry manufacturer. These kinds of gold bullion transactions are conducted by large companies not small scale retailers. Similarly the terms and the process of procuring for semi-refined gold dore bars from African local dealers doesn’t differ alot from that. Send us a full detailed inquiry of what exactly you are looking for as we may have it or assist you on the way.