| 03/24/2023 10:45 AM Current Market Spot Prices: | Gold: $1,990.67/ozt | Silver: $23.26/ozt | Platinum: $998.72/ozt | Palladium: $1,445.56/ozt |
Wednesday, January 29, 2014
KMG Gold Attends Manitoba Dental Convention Trade Show
At KMG Gold we love trade shows because they're a fun way for us to get to know our customers and potential future customers. It's always nice to get the opportunity to introduce people to KMG Gold and the services we provide that they might not have known about before. We also like getting to know our community and other local business owners in such a friendly setting.This past Friday and Saturday KMG Gold attended the Manitoba Dental Convention at the Winnipeg Convention Centre. We set up our booth at the trade show on Thursday night and bright and early on Friday and Saturday morning we got to meet all the dentists, hygienists, assistants and
students who stopped by our booth. We got to hand out some of our new swag (pens, magnets and bags, woohoo!) and chatted with the dental professionals about how KMG Gold can help them recycle their dental gold. We found that there are a lot of people who don't know exactly what KMG Gold can do for their dental practice and many were surprised by how much money they could get for their unwanted dental gold.
The next trade shows that we'll be at are the Ultimate Women's Show on April 12 and 13 and then the BBB Home Repair and Renovation Show on April 25-27.
We can't wait to see you there!
Wednesday, January 22, 2014
Gold Gossip: Earthquakes and Gold
Gold can be found across the globe but did you know that some experts believe that earthquakes can actually create new gold deposits? The latest in the KMG Gold Gold Gossip blog series is all about the role that earthquakes can play in gold production.In the March 17, 2013 issue of the journal Nature Geoscience, it was reported that the water that is found in the faults created by earthquakes will vapourize during an earthquake and can create new gold deposits. The lead author of the study, Dion Weatherly, a geophysicist at the University of Queensland in Australia, believes that this theory offers an explanation for the link between gold and quartz found in many of the world's gold deposits.
When an earthquake hits, it moves along fault lines in the ground. Large faults can have many smaller fractures along their length which are connected by jogs that appear as rectangular voids. Water often lubricates the faults and fills in these fractures and jogs. And since these are often six miles underground, under very high temperatures and pressures, the water carries high concentrations of carbon dioxide, silica and precious metals like gold.
As the fault jog opens wider during an earthquake, the water inside of this void immediately vapourizes and forces silica (which forms quartz) and gold out of the fluids and onto nearby surfaces.
But don't get too excited because the amount of gold left behind after an earthquake is extremely small and the underground liquids only carry one part per million of the precious metal. However, these deposits can build up over time and can even occur with earthquakes with a magnitude smaller than 4.0. After all, the quartz-linked gold deposits are what sparked historic gold rushes like the ones in California and the Klondike, with prospectors tracing the gravels back to their sources, where hard-rock mining continues today.
The above picture is an example of what gold found in quartz looks like. This is an extreme example, but you never know what you might find!
Stay tuned for KMG Gold's next blog post, published every Wednesday. If there's a topic you'd like to read about, share your thoughts in the comments below or via Facebook or Twitter.
Wednesday, January 15, 2014
How does KMG Gold offer such high payout rates?
Have you ever wondered how KMG Gold is able to offer its customers such high payouts compared to the competitors? One reason for this is thanks to our electric induction gold melter. This state-of-the-art melting furnace truly exemplifies our award-winning customer-first philosophy since it eliminates the need for customers to sell their precious metals through a middleman. We can actually melt our customers' gold at our Academy Road location!Most customers don't know that all recycled gold eventually ends up at a refinery for processing, so it actually can cost quite a bit when you go through middlemen to recycle your precious metals. Middlemen can include pawn shops, coin dealers, traveling road shows, gold parties, kiosks and cheque cashing outlets. All of these middlemen eventually sell the customer's gold and other precious metals to a refinery where the gold is then melted. This is why they aren't able to offer their customers as much money as a business who does their own melting.
We purchased this awesome melter to ensure that in this competitive market, our customers will be best served to ensure they're completely happy with the services that we provide them with. It is this attention to detail and determination that continues to earn us our leadership position in the precious metal recycling industry and so many Better Business Bureau Torch Awards.
If you know of a way we can improve our service to you, please leave your thoughts in a comment below! Don't forget to like us on Facebook and follow us on Twitter!
Wednesday, January 08, 2014
Gold Gossip: Fort Knox
Fort Knox. You've definitely heard about it before but how much about it do you really know? Here's the KMG Gold rundown of one of the world's famous gold depositories that continues to drum up hype and excitement every few years.For starters, Fort Knox is located adjacent to Fort Knox, Kentucky and is officially called the United States Bullion Depository. It was built in 1936 by the US Treasury Department on military land and cost less than $1 million to construct, about $10 million in today's dollars. The reason why Fort Knox was built so quickly was because of President Franklin D. Roosevelt's Executive Order 6102 in 1933, an order which forced American citizens to sell all their gold to the government. Between 1933 and 1937, the federal reserve of gold grew from $4 billion to $12 billion! With a huge growth in the amount of government-owned gold, a secure building was needed to store it.
Below the fortress-like structure of Fort Knox lies the gold vault, a room encased in 17,000 square feet of granite and protected by a blast-proof door that weighs 22 tons. It is also made of 4,500 square years of concrete, 775 tons of reinforcing steel and 700 tons of structural steel. In addition these high levels of physical security, Fort Knox is equipped with alarms, video cameras, minefields, barbed razor write, electric fences, closed circuit cameras and heavily armed guards and army units. To access the vault, staff members must dial individual combinations that are known only to them and no visitors are ever allowed in.
The first shipments of gold to Fort Knox began in 1937 and included everything from gold bullion to new gold bars made from old gold coins. The shipments were gradually made and were sent by 500 rail cars and by mail which were protected by the US Postal Inspection Service and US Treasury Department Agents.
Throughout history, other precious items have been housed in Fort Knox for safekeeping. The Articles of Confederation, Lincoln's Gettysburg address, three volumes of the Gutenberg Bible and Lincoln's second inaugural address have all seen the inside of Fort Knox. During World War II, Fort Knox held the US Declaration of Independence, the US Constitution and reserves of European countries and key documents from Western History. The crown of St. Stephen and some of the Hungarian crown jewels were also held there.
It's estimated that Fort Knox holds nearly 3% of the world's mined gold, 147.3 million ounces. The price of a troy ounce of gold in 1934 was about $20 and in 1980 it was between $350-$450. Its current price is more than $1,200.
But gold hasn't been transferred in or out of Fort Knox in many years. The only time gold will leave the vault is to be tested for purity during annually scheduled audits. And some people believe that Fort Knox is actually empty! If Fort Knox is empty, what's in it and where is the real gold reserve? This would raise a lot of very interesting questions and we at KMG Gold would love to know more about it.
If you like conspiracy theories, Fort Knox is one topic that will definitely keep you busy for awhile!
Thursday, January 02, 2014
Our New Year's Resolutions
We're so happy to be able to wish you a wonderful new year and to thank you for helping support KMG Gold and allowing us to grow into the thriving business that we've become known for. We couldn't have done any of this without our loyal customers so we want to share how we plan on giving back to our community this year. We have a few things in the works for 2014 but as the year begins, we're lending our support to the Easter Seals and Society for Manitobans with Disabilities (SMD).
The SMD programs that are funded through Easter Seals Manitoba give people with disabilities the opportunity to further their education, build successful careers, develop their life skills, explore recreational activities and create connections with professionals and equipment that can improve their overall quality of life. The SMD also helps strengthen the abilities people already have, enabling them to develop new strengths so that they can truly live their lives to the fullest. KMG Gold proudly supports these mandates and is excited to partner up with such an important organization.
KMG Gold will be supporting the Attire to Inspire Fashion Show for 2014, becoming a sponsor for the second year in a row. We're so excited because this year we'll actually be attending the show too and we can't wait to see firsthand what they have in store.
But the thing we're most excited about participating in is the Easter Seals Drop Zone! If you aren't familiar with the Drop Zone event, you're in for a treat. An event that happens in several cities across Canada, individuals are invited to raise money for the Easter Seals and then rappel down the side of a large building. And since 2005, nearly 6,000 superheroes have raised more than $10 million for Canadians with disabilities.
Of course, we'll be sending our own Michael Gupton down the side of the building and we're still trying to decide which superhero he should dress up as. But as excited as we are to see him in action, we're even more excited about how many lives will be changed as a result of this event.
If you'd like to donate to this awesome cause, you can do so online here and you'll even receive a tax receipt for your donation. Or you can give us a call at 1-877-468-2220 if you'd rather donate that way!
Don't forget to stay tuned for fundraising news, events and updates from us!