Exchange tip, gold prices

Posted: June 3, 2013 in Investing, News
Tags: , , , , , ,

Due to the discrepancy between the USD and CLP exchange rates and gold prices, you can now get Chilean gold coins for about CLP$420.000 for a 20,3-gram coin (USD$841), which makes its per-ounce price $1174. That’s the buy price, not spot.

Do with that what you will. Smells like buying opportunity.

 

NEVERMIND– I’ve been stymied by shite conversions. Disregard the whole thing. Thanks, Imperial Measurement Systems!

Comments
  1. adbarr says:

    Show me the math I’m gettin somethin different:

    20.3397gram/coin @ 90% pure = 18.306goldgram/coin
    420,000clp = 840.37usd
    840.37usd/coin / 18.306goldgram/coin = 45.907usd/goldgram
    45.907usd/goldgram x 31.1034768goldgram/troy ounce = 1427.87usd/troy ounce
    Current spot in usd = 1411.12usd/troy ounce
    1427.87 / 1411.12 = 1.19% premium over spot for 100 Chilean Peso Coin trading in USD

  2. Kid says:

    Yes, but a troy ounce (aprox. 31.1g) is greater unit than a normal ounce (aprox. 28.3g).

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