#精品长文创作季#
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Xiao Chen has been agonizing about something for a long time recently, it turns out that he bought a batch of gold three years ago when the price of gold was very low.
At that time, the purchase price was 1 million, and the gold price has continued to rise in the past two years, and the previous 1 million gold has been 1.5 million according to the current gram price.
This made Xiao Chen excited, and hurriedly took the gold to the bank to prepare to exchange it for cash.
However, after arriving at the bank, he was told by the bank staff that the gold he bought was not issued by the bank, and the bank that sold it could not provide recycling services.
Xiao Chen then went to the gold store to deal with it, but according to the gram weight of 1.5 million gold, the gold store could only give a recycling price of 900,000 yuan.
At this time, Xiao Chen panicked, and hurriedly asked his old classmates who studied finance to solve his doubts: "Isn't gold hard currency? Why don't banks accept it, and gold stores are only willing to give such a low price?"
1. There are standards for banks to acquire gold
Gold repurchase is a key business controlled by the state, with detailed processes and standards, and certain conditions need to be met for recycling.
There are requirements for the brand, content and integrity of the gold, and as long as it does not meet the labels, the bank has the right to refuse to repurchase.
So what criteria do banks need to meet before they can buy back gold?
1. A compliant invoice certificate is required
If gold is purchased at a bank, it is necessary to provide complete and compliant invoices and proof of purchase from the bank, which is an important means used by the bank to determine whether the gold content and the sales office is legitimate.
If the purchase is not from the bank or there is no invoice and proof of purchase, the bank can refuse to collect it.
The purpose of this is also to prevent some criminals from exchanging unknown income gold into cash, so if you buy gold, you must keep your purchase receipt.
If you don't buy a receipt, the bank will definitely refuse to buy it when you want to cash out the gold you bought.
2. Gold retains integrity
Generally, large gold purchases are made in the form of gold bars.
The gold purchased needs to maintain a certain degree of integrity, no bumps, and the grammage and appearance dimensions need to match the information on the proof of purchase.
If the gold bar is worn or scratched, it will affect the recycling price and may even lead to the bank's outright refusal to recycle.
3. Purity should be guaranteed
The purity of gold repurchased by banks should generally be maintained at more than 99~99%, and only this purity of gold can meet the standards of bank repurchases.
If you do not see clearly at the time of purchase, and the purity of the purchased gold is lower than this value, then there is a high probability that it will be rejected by the bank.
For the purity of gold, the bank generally has professional identification instruments, but the identification fee needs to be borne by the customer.
It should be noted that some banks' gold appraisal agencies will designate one or several outlets to carry out it, and it is necessary to understand clearly before going to the bank to repurchase gold.
Second, the bank buyback of gold pushes three and four blocks
If you have been to the bank to buy back gold, you will definitely encounter the bank's push, or directly refuse, what is the reason?
At present, gold cannot be used as a currency in circulation, and the process of recycling by banks can only earn profits from processing fees and appraisal fees.
However, after the gold is recovered, it needs to be re-smelted, which will occupy a large amount of capital inventory during this period, and if it is not sold out in time, it is also a loss for the bank.
For example, for example, the price of gold is 400 yuan/gram, and the price of gold bars is generally about 410 yuan/gram.
In addition, the price of gold fluctuates to a certain extent.
If the recovered gold is not sold for a long time, there is a great financial risk for the bank, so the bank is reluctant to recycle the gold.
Third, there are many gold shops to recycle gold
Now the streets are full of gold shops recycling, with the sign of high-priced recycling, but in fact, the recycling price is much lower than the price of bank recycling.
Some people even share that the recycling price of gold stores is only half of the bank repurchase price, so why can the recycling price of gold stores be so much less?
1. "A small amount of catty shortage" is rampant
As we all know, gold is a precious metal, and the unit price is based on grams, so there are many unscrupulous merchants who have done symmetrical tricks, and some can even discount the gram weight by 20%.
It has been reported in Guangzhou that a gold shop recycles gold, and weighs the original 88 grams of gold bars to only 76 grams, which is common in gold recycling gold stores.
There are also some merchants who will falsely advertise to the seller, informing the seller that the purity of the gold is not enough, or there will be impurities after the gold is smelted, and a certain number of grams will be deducted according to the impurities.
There are also some merchants who will deliberately falsify the purity test data of gold, and some of the actual measured purity of 99.99 will be deliberately lowered by merchants on the grounds that the purity is not enough, so as to reduce the selling price and reduce the total price of recycling.
2. The recycling price of gold stores is low
The price of gold shop recycling is generally about 20% lower than the price of bank recycling, but it will also be adjusted according to the international price of gold at any time.
For example, the international gold price is 400 yuan/gram, and the recycling price may be around 350, which is also an important reason why the recycling price of many gold stores is very different from the price calculated by themselves.
Although there is a certain difference between the price of the bank and the international gold price, it is by no means as different as the price of gold stores.
Banks generally have a difference of around 5% and are subject to change at any time based on real-time exchange rates.
3. There are many hidden charges for the recovery of gold stores
Some gold shops will chat with the seller in advance, and through various "clichés" to understand the seller's understanding of the gold they want to sell, so as to judge the proportion of the handling fee charged.
If the seller does not know the market and does not know much about the purity and price of gold, he will generally charge various proportions of "handling fee", "depreciation fee", "wear and tear fee", etc.
The amount of these fees varies according to the actual situation of the seller, and some sellers who are in a hurry or do not understand will even charge a hidden fee of up to 20% of the total price.
However, regular gold recycling generally only depends on purity, as long as there is no problem with purity, the conventional recycling price is about 10 yuan lower than the international gold price is a normal range.
For gold with a purity of more than 99.9%, the weight loss is generally controlled between 0.01-0.05 grams if the weight deviation is not very large.
If you go to sell your gold, you must keep your eyes open, prepare in advance, and understand your gold grammage.
If the price difference between the gold store is too large, or what "handling fee" and "loss fee" are charged, you must carefully distinguish to avoid being deceived!
Fourth, the gold rally is gratifying, and you must pay attention to these points if you want to invest
As the saying goes, "cultural relics in prosperous times, gold in troubled times", gold has been a hard currency for thousands of years due to its scarcity of precious metals.
Even if gold is not used as the main currency in circulation, it still has certain investment attributes.
In recent years, the price of gold has continued to rise, which has attracted more and more people to invest in gold.
But if you really want to invest in gold, do you really know these points?
1. Can the price of gold rise?
Now that the price of gold continues to rise, the price of each gram of gold in gold stores has exceeded 700 yuan, and many people have begun to blindly carry out the "gold rush" again.
The central bank has also chosen to "increase" gold for 17 consecutive months, and the market looks very good, so is now not the best time to enter the gold market?
Economists in the mainland issued a statement a few days ago saying that the rise in gold now benefits from the impact of geopolitical risks such as the Russia-Ukraine war and the Palestinian-Israeli conflict, and may continue to rise in the near future.
Due to the extremely high stability of gold, as an important asset anchor in times of instability, it will rise due to rushing.
Coupled with the recent news of interest rate cuts by the Federal Reserve to combat inflation, the price of gold as a currency hedge will continue to rise, but the cycle will not be too long.
Looking at the long-term data, gold is not an effective hedge against inflation, and if history is any guide, gold's return on the annual growth cycle over the past 20 years is only 8%, which is much lower than most stocks and long-term bonds.
Therefore, experts suggest that short-term investment, gold can be considered as a product, if you want to hold it for a long time, it is not recommended to enter the market to invest in gold now.
2. Don't put "eggs" in the same basket
There is a wise saying in the investment market called "chasing the rise and killing the fall", which describes that many retail investors will wait until the investment is at the highest point to "chase the rise" to enter the market.
However, retail investors do not have enough determination to cope with the downward trend of investment products, and sell in the shock of products.
This kind of behavior is jokingly called "cutting leeks" by netizens, if you enter gold now, you must be as conservative as possible, and don't invest all your money in the single field of gold.
You can choose a few more tracks, appropriately disperse the funds, try to reduce the risk of investment, complete the risk hedging of funds, and don't insist on going your own way.
3. How to choose physical gold and gold funds?
At present, the mainstream gold investment includes physical gold and gold ETF, and physical gold is an investment gold bar sold by gold stores or banks.
The advantage of physical gold is that it can be kept for a long time, can be carried, and has certain collection attributes, but physical gold will have a certain price difference when trading, and the preservation needs to have a certain degree of professionalism, if it is not stored properly, it will lead to price damage.
Gold funds will not have price differences, can trade in real time, consistent with international gold price fluctuations, can do peak trading, and have low transaction costs.
However, gold funds require certain custody fees and transaction brokerage fees every year, and the cost of long-term holding is still high.
If you want to hold it for a long time, it is recommended to buy physical investment gold, and if it is only a short-term investment, you can consider related gold ETF funds.
epilogue
There is a law in the investment community that has not changed for thousands of years: "Investment is risky, and you need to be cautious when entering the market".
The price of gold has risen fiercely recently, but if you want to enter the market, you need to understand more, avoid risks, and carefully analyze various impacts.
If you have already invested in gold before, you should keep the relevant procedures and save the physical gold scientifically, so as to avoid problems when the bank buys back.
The above is the analysis of this article about the reluctance of gold investment banks to recycle the low price of gold stores, if you have a better insight into investment, please leave a message in the comment area.
Resources:
Insight Finance 2023-11-07"Spending 1 million to buy gold bars turned out to rise to 1.5 million, the bank didn't accept it, but the gold store only issued 900,000, why?"
Today's Fiscal Affairs 2023-05-01"The gold bars bought for 1 million rose to 1.5 million, the bank was unwilling to accept it, and the gold store only issued 900,000, why"