Understanding Gold Bars in Singapore: What 999 and 999.9 Mean
They say all that glitters is not gold; well then, how do you recognise the real deal? To be well-versed in gold bars in Singapore, let's turn the pages of the golden book; in this chapter, we take a closer look at 999 gold and 999.9 gold in Singapore. For your ease, Starlight Jewellery will lay out everything about gold bars in Singapore from their importance, purity, types, pricing and investment decisions. All you have to do is sit back and soak in all this gold. Then let's get right into it, shall we?
While anything remotely resembling this radiant precious metal may look worth a thousand bucks to the naked eye, it is only as good as its quality and, more importantly, its purity. Gold purity is an undeniable characteristic when it comes to any deal, whether it is a simple purchase or an investment. Being knowledgeable about the purity of this invaluable metal can effortlessly give you the upper hand as a gold enthusiast and an eager customer.
What Does Gold Purity Mean?
Think about a good chocolate pudding. Surely, in the name, there is the main ingredient right there: chocolate. As you are savouring this chocolate delight, you cannot ignore the taste, look and smell of cocoa powder. However, even though it is called a chocolate pudding, you know that other ingredients are added to the recipe.
The sugar, salt, milk and cornstarch help the final taste and texture of the chocolate, even if they are in a small percentage compared to chocolate powder. Without these other ingredients, it would not be a chocolate pudding but some chocolate powder.
Just like that products of gold are made by using gold as a main ingredient, but with the essential addition of other metal alloys. Because gold is the main element, it is used to define the purity of the item, whether it is jewellery or bullion. Similar to a strong chocolate pudding, which has a higher chocolate powder content, a gold product that has a high gold percentage will have a stronger colour and shine.
Karat measures purity in gold bars in Singapore as a division of 24 parts. The highest purity in Karats is, therefore, 24 k. If 18 parts out of 24 in a bar were gold, then the purity would be 18k or 75%. Fineness, on the other hand, measures purity in a division of a thousand parts. For example, the above bar would have a purity of 750. These purities largely decide the monetary value of a product.
999 vs. 999.9 Gold: What’s the Difference?
When talking about gold bars in the market, purity can come in a few forms. The main ones we are addressing in this article are 999 gold bars in Singapore vs. 999.9 gold bars in Singapore. While at first glance, it is extremely easy to assume there is little to no difference between the two, with gold being such a highly valued item, it is worth the time and the effort to closely inspect each and every aspect of purity to make an informed decision.
999 gold
This refers to gold bars in Singapore that have 99.9% pure gold in them. This means 0.1% of these coveted gold bars in Singapore have a mix of metal alloys, which could typically include traces of zinc, cadmium, palladium, iron, nickel, aluminium and silver. These other metals not only contribute to the strength of the metal, increasing its durability, but also allow creativity to take ownership of the gold metal during the craftsmanship by adding malleability to a naturally soft metal. 999 gold is commonly used to manufacture gold bullion, such as coins and gold bars in Singapore.
999.9 gold
999.9 gold bars in Singapore are known to make things such as commemorative coins. As the pure gold percentage is high in these types of gold bars in Singapore, they have a higher purity than 999 gold. These are also known as five nines or four nine fine. With 999.9% purity, there is only 0.01% of other metal alloys in these types of gold bars in Singapore. The mix of alloys is similar to the 999 gold metal alloys, and they add longevity and sturdiness to the gold while maintaining its bright hues.
Why Gold Bar Purity Matters for Investors and Collectors
Seeking the cream of the crop when it comes to gold is not only about aesthetic purposes or sentimental integrity. The market value of gold products can be depicted by the purity of the gold bars in Singapore. While to any regular shopper, gold purity can be an important factor in making their pick, gold bar purity matters a greater deal to investors and collectors keeping a sharp eye out in the gold market.
High-purity gold bars in Singapore that are authenticated by an official body like the Singapore Assay Office not only have higher durability and weight but are also bidding for higher prices. If an investor purchases such a gold bar in Singapore, they are more likely to have a monetary return during a worthy resale. With impressive liquidating ability, these valuable gold bars in Singapore can act as a strong financial safety net, securing a large sum of money due to their product quality which puts it in high demand. Similar to high-purity gold bars have a higher sentimental value and can gain rich historical meaning over time through a collector.
How to Verify the Purity of Gold Bars in Singapore
Understanding gold hallmarks and stamps
Checking hallmarks and stamps on gold products is definitely one of the easiest ways to determine if the gold is not counterfeit. Hallmarks are visible marks usually engraved on the product indicating the purity. For example, a real 24-karat gold bar will have a hallmark of 999, confirming that it does, in fact, contain 99.9% pure gold. These hallmarks are given after assessing the particular gold to ensure authenticity. Stamps given by jewellery manufacturers and craftsmen can also play a role in communicating the genuineness of gold bars in Singapore. These often entail the fineness and a unique serial code given to the gold product.
Using the acid test to verify gold purity
This is done by creating a mark by rubbing the gold on a black stone and applying a drop of nitric acid to the said mark. Depending on the observable reaction to the gold mark on the stone, one can determine if the gold product is the correct purity it claims to be using a colour chart for gold purity in the acid test. Sometimes, a mix of hydrochloric acid and nitric acid can be used to conduct the acid test on gold metal. However, as the acid can be a harmful substance, safety precautions are taken during the administration of this test, such as working in a properly ventilated area and wearing protective goggles and gloves. One downside of this test is that it does not have high accuracy, as the results of the acid test can be affected by the concentration of the used acid.
Using an XRF spectrometer to verify the gold purity
If there is a need for it to be less invasive, the XRF spectrometer, also known as the XRF gold testing machine, can be used. It utilises X-ray fluorescence to determine the gold purity, usually in lab or manufacturing settings. When the machine releases Xray into the gold product, it displaces the gold atoms' electrons, which results in them repositioning again. During this repositioning of electrons, they emit the X rays back, which are used to calculate the energy levels and, therefore, the gold concentration. The good thing about this method is that it does not physically damage the gold product and provides a quick evaluation.
Choosing gold dealers wisely
They say prevention is better than treatment, right? Well, with gold bars in Singapore, choosing your trusted gold dealer wisely is the best preventive method you can take to stay safe from counterfeit gold and scam artists. Consider checking for a strong and standing reputation, customer ratings and reviews, transparency in deals and products, and warm and receptive customer service to select your buyer. At Starlight Jewellery, we understand the importance of these factors, which is why we are committed to assisting and serving our clients only the best of high-quality gold.
Pricing and Market Trends for 999 and 999.9 Gold Bars in Singapore
As a large portion of gold bullion is internationally based, the changes in the price of gold in the global market can have an impact on the prices of local gold bars in Singapore. US dollar rates can affect how local gold bars are priced in the market as time goes on. Typically, the local and international gold prices can be similar; however, when the SGD is stronger, local gold prices can decrease, making gold bars in Singapore more affordable. External factors, such as demand-supply and inflation, can further affect the price of gold bars in Singapore.
Where to Buy Authentic Gold Bars in Singapore
Trustworthy, reputable and professional dealers should be picked to buy gold bars in Singapore. As a licensed gold dealer, Starlight Jewellery takes pride in putting the client first and making their dreams come true by offering a secure base to rely on during the process.
Explore gold bars in Singapore with confidence
Now, with all this knowledge, we believe in your ability to select your informed choice of gold investment. Gold purity is an influencer of several factors like durability, weight, price and resale value, which should be considered heavily when making such important decisions. Simultaneously, it is essential to verify your gold and choose safe gold dealers to ensure a worthy investment. So, let the end of this article be your call to do more research on the topic and make a worthwhile investment in gold bars in Singapore.