# Physical Gold In today’s global market, physical gold remains a highly coveted asset, valued for its enduring worth, historical significance, and role as a hedge against economic uncertainty. Various forms of physical gold are traded globally, catering to different investor needs. Among these, London Bullion Market Association (LBMA) Good Delivery bars are the most recognized and traded. Weighing 12.5 kilograms (approximately 400 troy ounces), these bars are primarily used by central banks and institutional investors. They must meet stringent purity standards—typically at least 99.5% gold—and are produced by LBMA-accredited refineries, ensuring quality and authenticity. Bullion, which includes bars, ingots, and coins, is another popular form of physical gold. Investors can purchase bullion in sizes ranging from 1 gram to 12.5 kilograms. The purity of bullion is crucial, often ranging from 99.5% to 99.99% (24 karats), with higher purity commanding greater value. The refining process that turns raw gold ore into high-purity refined gold involves several stages. It begins with ore mining, where gold-bearing rock is extracted through open-pit or underground techniques. The ore is then crushed and ground to facilitate gold extraction. Concentration methods, such as flotation, separate gold from other minerals. The concentrated gold undergoes chemical processes like cyanidation to dissolve and isolate it. Smelting follows, where the gold is heated to remove impurities, resulting in a dore bar. This bar is further refined through processes like the Miller Process, which uses chlorine gas to remove silver and base metals, and the Wohlwill Process, an electrochemical method achieving up to 99.999% purity. Dore bars, typically produced at the mining site, contain a mix of gold, silver, and other metals, with gold content varying between 60% and 95%. These bars are sent to refineries for further purification, transforming them into refined gold with a purity level of at least 99.5%, often reaching 99.99%. This refined gold is used for minting coins and bars and in electronics and medical devices. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://whitepaper.xrb.gold/present-day-gold-market/physical-gold.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.