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Why is the price of GBI’s product offering above precious metal’s spot price?

April 26, 2017gbi metal offering precious price Product spot

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Why is the price of GBI’s product offering above precious metal’s spot price?

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Precious metal spot price is an indication of the price of precious metal in an unallocated form (typically a London Good Delivery Bar – 400 oz). GBI’s precious metal bars command a premium as they come in an allocated form and in various denominations. Part of premium includes a mark-up that GBI charges for its services.