Silver Wheaton, the successful company that buys up silver directly from miners is about to have an imitator. A number of their top execs are launching Gold Wheaton Corporation to perform a similar operation by buying gold and by products directly from producers.

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The ratios between gold and oil is based upon the fact that gold has been, and arguably still is, the ultimate and indestructible form of purchasing power and oil has been the most important commodity involved in the progress of civilization in modern times.

With few exceptions over the years one has tracked the others´ ups and downs to this day. The Middle East wars and crises of 1974-6 being the most notable years when the pattern was broken.

Of more to the point, is there a guide to investors in the behavior of the ratio between the price performance of the two commodities over the years?

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We have received a somewhat sarcastic comment from an online gold bullion and coin seller concerning troy ounces.

He is under the impression that it was unnecessary for us to have pointed out that gold, in fact all precious metals, are always quoted in troy ounces as distinct from avoirdupois ounces.

Well, we strongly believe that we should never take for granted that all our readers are sophisticated and experienced precious metal investors and traders.

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In the face of falling crude oil prices and a slightly stronger dollar, gold weakened by around 2% on Tuesday.

Some profit taking also helped to push the price down to $808 an ounce before recovering to $814 an oz by the close. As usual silver followed with platinum and palladium tagging along.
 

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On the subject of labor unrest in the mining industry, South Africa’s biggest mineworkers union, the NUM (National Union of Mineworkers) plans a one-day strike on Dec 24^th. in protest against increasing deaths.

Amongst the affected will be Harmony, Goldfields and Impala Platinum.

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The simplistic definition of a depository is that it is a place where anything can be left for safekeeping.

The safekeeping of gold, because of its worldwide status as the traditional store of value, is of paramount importance internationally.

Again to put it simply, the wealth, importance and influence of a nation can be measured by the amount of gold it owns.

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You can now buy 100% pure gold grams of the assayed fine gold content of  bullion bars stored in a Brinks vault in New York, London or Zurich.
 

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The simplest and most efficient method of participating in the precious metals market is by the direct purchase of the physical metal in the form of bullion or coin.
 

For the serious and financially secure investor large bullion bars are usually available at lower premiums than smaller shapes and coins.
 

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Bullion

A negotiable precious metal with a trading weight and shape, for example an ingot or bar and, in certain cases, coin.
 

Bullion Coin 

A precious metal coin that is legal tender and whose market value is only dependant upon its content and not its face value or collectible value

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