Is refined gold (999.9) obtained from broken gold and refined, same as investment gold (999.9)?
Jean Louis, Since 2009, trader, buyer, seller of scrap and recycled gold
Gold is gold, and its physical content may be the same. However, definition of investment gold is not the same as refined gold. Investment gold is hallmarked and assayed by recognized refineries, such as those specified with the London Bullion Marketing Association at LBMA - Home - Such gold may be traded for cash without new melting and assaying. It has certain length, width and height, including the weight. It is investment gold because it can be easily bought, without assaying, and it may be sold to banks directly or to gold dealers without melting and assaying. By comparison, the refined gold, which is not investment gold, has to be assayed and melted for verifications of its quality and quantities which imposes expenses and burden when exchanging it for cash.
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