TERMS AND CONDITIONS

https://www.karatbars.com/landing/?s=88969

Important notice to all Sellers

PLEASE FOLLOW THESE PROCEDURES

• Buyer meets up with gold Seller or his representative in: Belgium, Dubai, Switzerland or Germany;
• We pay no ticket for you in advance, or any other costs;
• The seller can bring say 5-50 Kg. Only gold-dore bars or Hallmarked (gld) gold is purchased;
• Then, given the gold in the gold refinery (for testing). All costs are paid by the Buyer;
• After the test in the gold refinery - settlement is immediately paid ( in cash or by bank to bank);
• Year contract or as otherwise agreed upon, shall be discussed and signed;
• Monthly supply of 100-1000 Kg  only Gold Dore Bars.
• gold purchase price must be between 27.000  max. US$ 30.000 /kG.
• OR, PRICE based on  London´s second fix, allowing for a 13% discount DAT DUBAI.
• WE BUY ONLY GENUINE CIF OR DAT DELIVERY. 
• Along with your FCO,  we prefer to see also a passport copy of the Seller and the full registration document of your Company
• We seek only honest, long-term trading partners.-   Greetings.      

     Market Fundamentals

1000 grams = 32.1507465  troy ounces

1 gram= 0.0321507465

1 troy ounce  =  31.1034768  grams

London  Gold Glossary 

Aliquot	A small sample taken from a precious metal bar for assay to determine its fine gold content.
Alloy	A mixture of two or more chemical elements, including at least one metal. In the case of gold, it is mixed with a baser metal to lower the purity, influence the color or add durability.
Arbitrage	Simultaneous buying and selling of same asset in different markets in order to capitalise on variations in price between those markets.
Ask	The price a dealer or seller asks for a commodity or other asset.
Assay	The determination of the precious metal content of an alloy, either using a direct method (by measurement) or an indirect ( by spectrographic analysis) For gold, the main direct method is fire assay, also known as cupellation or gravimetric analysis.
At the money	Refers to an option strike price that is equal to the current market price of the underlying asset.
Averaging	A method whereby the fluctuations in price movements may be achieved by agreeing to buy or sell a specified total quantity of precious metal on the basis of the average price of the fixings over an agreed period of time.
Backwardation	A market situation where prices for future delivery are lower than the spot price, caused by shortage or tightness of supply.
Bar Chart	A type of chart commonly used in technical analysis that shows highs, lows and closing prices.
Bear	Someone who expects prices to fall.
Bear market	A market in which the trend is for prices to decline.
Bear put spread	The purchase and sale of put options at different exercise prices but with the same expiry date. The puts purchased have a higher exercise price than the puts written. The investor expects a fall in the price of the underlying asset.
Beta	The beta of a rate or price is the extent to which that rate or price follows movements in the overall market. If the beta is greater than one, it is more volatile than the market; if the beta is less than one, it is less volatile.
Bid	The price at which a dealer is willing to buy.
Black-Scholes model	An option-pricing model initially derived by Fischer Black and Myron Scholes in 1973 for securities options and later refined by Black in 1976 for options on futures.
Blank	A blank disk of metal with milled edges used to make a coin.
Brazilian Mercantile Futures Exchange	The BM&F was incorporated in July 1985. Website: www.bmf.com.br
Britannia	British gold coin first issued in 1987 with a fineness of 916.6
Chervonetz	A Russian bullion coin, 900 fine with fine gold content of 0.2489 troy ounces and a face value of 10 roubles. Issued in the 1970s.
koala	Australian platinum coin with a fineness of 999.5.
Krugerrand	South African gold coin first issued in 1967 with a fineness of 916.6.
Lakh (or Lac)	Indian term for 100,000. Frequently used to describe silver or gold orders.
Maple Leaf	Canadian gold coin with a fineness of 999.9 or platinum coin with a fineness of 999.5.
Napoleon	French gold coin, face value of 20 francs, bearing a portrait of Napoleon I or Napoleon III . It had a fineness of 900 and a fine gold content of 0.1867 troy ounces.
Noble	Isle of Man platinum coin with a fineness of 999.5.
Panda	Chinese gold coin of 999.9 quality, first made in 1982.
Tola	Traditional Indian unit of weight for gold., of 999. 9 gold purity.
Vreneli	Swiss gold coin with a face value of 20 francs issued as legal tender between 1897-1935. it had a fineness of 900 and a fine gold content of 0.1867 troy ounces.
wafer	Small, thin gold bars popular in the Middle East, South East Asia and Japan
Broker	An intermediary between traders for physical, future and over-the-counter deals. Brokers receive a fixed commission predetermined between the broker and his/her client.
Bull	Someone who expects prices to rise.
Bull call spread	The purchase and sale of call options at different exercise prices but with the same expiry date. The purchased(or long ) calls have a lower price than the written (or short) calls. The investor expects a rise in the price of the underlying asset.
Bull market	A market in which the trend is for prices to increase.
Bullion	The generic word for gold and silver in bar or ingot form. Originally meant “mint” or melting place from the olf French word bouillon, which means boiling.
Buy signal	In technical analysis, a chart pattern which indicates a key reversal upwards in price and the time to buy.
Calendar spread	The simultaneously purchase and sale (or vice versa) of an option of the same strike for different months.
Call option	An option which gives the purchaser the right , but not the obligation, to buy an asset at a pre-determined price on or by a set date.
Cap	An option contract whereby the seller agrees to pay to the purchaser, in return for a premium, the difference between a reference rate and an agreed strike when the reference exceeds the strike on or before a specific date.
Carat	Derived from the word for 'carob” in various languages, it was originally equivalent to the weight of the seed of the carob tree. It has two meanings in modern usage. 1. a measure of the weight of precious stones. 1 carat= 0.2053 gm. 2. gold in a gold alloy, on the basis that 24 carat is pure gold , often expressed as K or k, e.g. 18K is 75% gold.
Chartist	An analyst who forecasts future price trends by the technical interpretation of chart patterns based on historical prices.
CIF	Cost , insurance and freight. A CIF price includes the cost of material together with transport and insurance costs to the final specified destination .
Collar	A supply contract between a buyer and a seller of a commodity , whereby the buyer is assured that he will not have to pay more than some maximum price, and whereby the seller is assured of receiving some minimum price.
COMEX	The commodity Exchange in New York, a division of NYMEX.
Contango	The market situation where the price for future (forward) delivery is greater than the spot price.
Covered option	A covered call option is one where the writer owns the asset on which the option is written. A covered put option is one where the writer sells the option while holding cash.
Day order	An order to buy or sell at a particular price level which is only valid for one business day.
Deli very date	The specified day on which precious metal must be delivered to fulfil a contract.
Delta	Option risk parameter that measures the sensitivity of an option price to change in the price of its underlying instrument.
DORÉ	An unrefined alloy of gold with variable quantities of silver and smaller quantities of base metals, which is produced at a mine before passing on to a refinery for upgrading to LONDON GOOD DELIVERY standard.
DUBAI GOLD AND COMMODITIES EXCHANGE	The DGCX commenced trading in 2005. wbsite: www.dgcx.ae
Exchange traded options	Options on future contracts offered by a recognised futures exchange.
Facilitator	Someone who intermediates precious metal contracts between buyers and sellers receiving a predetermined fee for his/her work.
Fineness	The proportion of precious metal in an alloy expressed as parts in 1,000.
Fine weight	The weight of gold contained in a bar, coin or bullion as determined by multiplying the gross weight by the fineness.
Flat rate forwards	Forward contracts offering a constant contango throughout the life of the contract.
FOB	Free on Board. A FOB price usually includes cost of transport ,insurance and loading onto a vessel at the port of departure.
Fool´ s gold	Pyrites of iron sulphide , which is gold-like in appearance and can delude
	Amateur prospectors.
FSA	Fnancial Services Authority. The single financial services regulator in the United Kingdom. Website: www.fsa.gov.uk
Gamma	The sensitivity of an option´s delta to changes in the price of the underlying instrument.
GOFO	Gold forward offered rate. The gold equivalent to LIBOR. The rates at which dealers will lend gold on swap against US DOLLARS.
GOLD	Latin name Aurum. Chemical symbol Au. Its specific gravity is 19.32 and melting point is 1063°C.
GOLD FIXING	Held twice each working day at 10.30 am and 3.00 pm in the City of London.
Gold loan	The provision of finance in gold for a gold-related project or business, typically in mining or jewellery inventory finance, which provides a combination of generally inexpensive funding and built-in hedging.
Gold parity	Legally fixed quantity of gold to which a monetary unit is pegged.
Gold/silver ratio	The number of ounces of silver that can be bought with one ounce of gold.
GOOD DELIVERY	The specification which a gold or silver bar or a platinum or palladium ingot or plate must meet in order to be acceptable for delivery in a particular terminal market or futures exchange.
HALLMARK	A mark or number of marks made on gold or silver jewellery and other fabricated products to confirm that the quality is of the fineness marked on the item.website: www.thegoldsmiths.co.uk
hedge	A transaction entered into in order to offset the impact of adverse price movements of an asset.
IMF	The International Monetary Fund was conceived at the Bretton Woods Conference in 1944 to promote monetary cooperation and stability . It opened in Washington DC in 1947. www.imf.org
In the money	Refers to options with intrinsic value, e.g., calls where the strike price is less than the underlying asset price or puts where the strike price is greater than the underlying asset price.
Intrinsic value	Refers to options. The diference between the current spot price and the option strike (or exercise) price, i.e., the in-the-money element.
KAM	Chinese for gold.
KILO BAR	A popular small gold bar. A one kg bar.995 fine= 31.990 troy ounces and a 1 kg bar 999.9 fine= 32.148 troy ounces.
LBMA	The London Bullion Market Association was formally incorporated on 14 December 1987 to represent the interests of the participants in the wholesale bulion market and to encourage the development of London as a modern financial centre.
Liquidity	The market tradability of an asset. A highly liquid market has a large number of buyers and sellers , or lenders, making it easy to enter or exit.
Loco	The place- location- at which a commodity is physically held.
Long	A long position means the purchase and retention of an asset.
LOT	Commonly used word for a standard futures contract.
Margin	Deposit or collateral , required as security against open positions in futures , forwards or options market. Often called “initial Margin or “Original Margin”.
Mark to market	The revaluation of a position at current market price levels.
Naked option	The sale of an option by a party who does not hold the underlying asset to back it
OFFER	The price at which a dealer is wiling to sell.
OPTION	An option is the right but not the obligation to buy and sell a pre-determined quantity of an underlying asset at a pre-determined price by or on a defined date.
ORE	Originally from the Old English for crude or unwrought metal. It refers to any economic mineral deposit of precious or other metals.
OTC	Over the Counter Transactions that are quoted and conducted between parties on a principal-to-principal basis as opposed to being traded via a broker on an exchange.
OUT OF THE MONEY	Refers to options with only time value, ie, no intrinsic value, eg. Calls where the strike price is greater t6han the underlying asset price or puts where the strike value is less than the underlying price.
Platinum	Chemical symbol Pt. Its specific gravity is 21.45 and melting point is 1773°C.
Palladium	Chemical symbol Pd. Its specific gravity is 12.00 and its melting point is 1555°C.
Refining	The separating and purifying of precious metals from other metals.
RISK	The exposure to adverse market movements, mischance or the possibility of losing money.
Rolled gold	The process in which a layer of carat gold alloy is mechanically bonded to another metal.
Scrap gold	The broad term for any gold which is sent back to a refiner or processor for recycling.
SHORT	A short position means the sale of an asset not yet owned.
SILVER	Latin name Argentum . The chemical symbol is Ag. Specific gravity is 10.49 and the melting point is 960°C.
Smelting	The process of melying ores or concentrates to separate out the metal content from impurities.
souk	The local name for market used throughout the Arab world.
stochastics	Developed by George Lane, this momentum oscillator shows the location of the current close relative to the high/low range over a specified period. Closing levels near the top of the range indicate buying pressure, while closing levels near the base of the range indicate selling pressure.
SWITCH	Simultaneously purchase and sale of the same asset for different maturity dates.
Troy ounce	The traditional unit of weight used for precious metals, which was attributed to a weight used in Troyes, France, in medieval times.
Underlying	The variable on which a futures, option or other derivative contract is based.
Value date	The date agreed between parties for the settlement of a transaction.
Vega	A measure of how much an option´s price will change as the volatility of the underlying fluctuates.
volume	On future exchanges , the number of contracts traded in a session.