Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

China sets national standards for 'high pure gold'
Global Times ^ | 09/16/11

Posted on 09/16/2011 5:50:39 PM PDT by TigerLikesRooster

China sets national standards for 'high pure gold'

Xinhua | September 16, 2011 16:57

Authorities have released the first national standards on "high pure gold," a move that is likely to boost the country's gold consumption.

"High pure gold," as it is called in the standards, refers to the gold with purity of 99.999 percent, or "five nines," and is also the highest purity so far, a spokesman with the National Gold Standardization Technical Committee said Friday.

Generally speaking, a gold ornament with an amount of metal reaching 99 percent is called "pure gold," and more than 99 percent is called "thousand pure gold."

Currently in the Chinese market, the highest purity level of a gold ornament usually reaches 99.99 percent, or "four nines."

With the purity of 99.999 percent, the "high pure gold" used to be used in high-tech industry, such as aerospace. It requires a higher quality of the raw material and a more complicated technological craft.

"With the adoption of new national standards, the technology of manufacturing high pure gold will be gradually introduced into the consumers' market, which is expected to promote the development of the country's gold industry and bring new changes to the market of gold investment and consumption," said Sun Zhaoxue, president of the China Gold Association.

The new standards, approved by the the General Administration of Quality Supervision, Inspection and Quarantine and the Standardization Administration of China, went into effect this month, Sun said.


TOPICS: Business/Economy; Extended News; Foreign Affairs; News/Current Events
KEYWORDS: china; chinagold; gold; goldstandard

1 posted on 09/16/2011 5:50:45 PM PDT by TigerLikesRooster
[ Post Reply | Private Reply | View Replies]

To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

P!


2 posted on 09/16/2011 5:52:11 PM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster

Ya’ think their setting up the USD for an eventual fall?


3 posted on 09/16/2011 5:53:02 PM PDT by pingman (Durn tootin'; I like Glock shootin'!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: pingman

Sounds like the Chinese public is being prepared to go on a gold standard- fergit about fiat currency to accumulate and preserve wealth for retirement


4 posted on 09/16/2011 5:57:08 PM PDT by silverleaf (Common sense is not so common - Voltaire)
[ Post Reply | Private Reply | To 3 | View Replies]

To: TigerLikesRooster

And as a plus each Chinese bar of gold will have a big ol solid core of tungsten in the middle of it.


5 posted on 09/16/2011 6:01:42 PM PDT by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Secret Agent Man

They use melamine instead of tungsten now


6 posted on 09/16/2011 6:35:16 PM PDT by Mount Athos (A Giant luxury mega-mansion for Gore, a Government Green EcoShack made of poo for you)
[ Post Reply | Private Reply | To 5 | View Replies]

To: pingman

I think that gold standard or not, there will be very many one tenth gold coins sold in China over the next few years. They are having inflation problems as well, and gold may be the best bet for them; or perhaps silver? I’ll leave that for the experts to debate.


7 posted on 09/16/2011 6:37:34 PM PDT by MSF BU (YR'S Please Support our troops: JOIN THEM!)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Secret Agent Man

Exactly. 99.99999999 pure tungsten core.


8 posted on 09/16/2011 7:15:08 PM PDT by Travis McGee (www.EnemiesForeignAndDomestic.com)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Travis McGee

Considering overwhelming Chinese penchant for fake product to make quick bucks as it has been convincingly demonstrated in food and product safety scandal, that will undoubtedly happen. They will push the art of making fake gold to a new level.


9 posted on 09/16/2011 7:37:43 PM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Travis McGee

They might end up having “tungsten standard” instead of gold standard. Still, it could be better than fiat money, I think.:-)


10 posted on 09/16/2011 7:39:06 PM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
[ Post Reply | Private Reply | To 8 | View Replies]

To: TigerLikesRooster

bttt


11 posted on 09/16/2011 8:29:36 PM PDT by TEXOKIE (Anarchy IS the strategy of the forces of darkness!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster
99% = pure gold
99.99% = high pure gold
100% = f'ng pure gold
12 posted on 09/16/2011 8:37:24 PM PDT by Ken H
[ Post Reply | Private Reply | To 1 | View Replies]

To: Travis McGee

Yep. How is the purchaser going to know if it’s pure gold or not? Cut each bar, coin, or “ornament” in half? Doubt it.

FYI...A majority of counterfit gold & silver coins being sold around the world today originated from China. At present, the Chicoms are flooding the market with fake US Silver Eagles. Buyer beware when purchasing from ebay or other online retailers.


13 posted on 09/17/2011 3:10:31 AM PDT by Ernie Kaputnik ((It's a mad, mad, mad world.))
[ Post Reply | Private Reply | To 8 | View Replies]

To: Ernie Kaputnik; TigerLikesRooster

I don’t worry about fake gold coins, tungsten is really only viable inside of bars. And I’m not in that league.


14 posted on 09/17/2011 5:40:22 AM PDT by Travis McGee (www.EnemiesForeignAndDomestic.com)
[ Post Reply | Private Reply | To 13 | View Replies]

To: Secret Agent Man

Zackly!
Never trust anything the Chinese say. Never trust anything the Chinese sell.


15 posted on 09/17/2011 6:58:34 AM PDT by dusttoyou ("Progressives" and ronpaulnutz are wee-weeing all over themselves, Foc nobama)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Travis McGee

Please elaborate on “viable”.

You are aware the Chinese openly promote their gold plated tungsten coinage?


16 posted on 09/17/2011 7:03:36 AM PDT by dusttoyou ("Progressives" and ronpaulnutz are wee-weeing all over themselves, Foc nobama)
[ Post Reply | Private Reply | To 14 | View Replies]

To: dusttoyou; Beelzebubba

Can you show me a (non virus infected) link where the Chinese openly promote their gold-plated tungsten coinage?

Coins meant to be counterfeits for name-brand valid gold coinage, I mean. Not commemorative or souvenier BS.

In any event, “gold plated” counterfeit coins would be so easy to detect they would not be a threat. Only a tungsten core with a thick layer of 999 gold would be a problem. And you are aware of the problems inherent in minting/striking tungsten coins, right?

And of course, there are a number of other ways coin dealers would readily detect even tungsten cored coins (not merely plated, which is trivially easy to detect).


17 posted on 09/17/2011 7:09:48 AM PDT by Travis McGee (www.EnemiesForeignAndDomestic.com)
[ Post Reply | Private Reply | To 16 | View Replies]

To: Travis McGee

Sorry, didn’t bmark the link last year, but it was a legit Chinese company promoting “coins” not commeratives.

This was related to the stories out about tungsten gold bars, to which it was claimed to be no “non-intrusive” way to detect tungsten cored in either bar or coin.

Only way I’d buy is if was there when Newmont made the pour. Was actually there one time to see the pouring and as they brought out the bars to ship, other than that, am no gold expert.


18 posted on 09/17/2011 7:24:48 AM PDT by dusttoyou ("Progressives" and ronpaulnutz are wee-weeing all over themselves, Foc nobama)
[ Post Reply | Private Reply | To 17 | View Replies]

To: dusttoyou

You are aware the Chinese openly promote their gold plated tungsten coinage?


I hoped to buy one of these novelties. Unfortunately, my google search found nothing. I don’t think the Chinese are doing a very good job of “openly promoting” it.

http://www.google.com/search?q=gold+plated+tungsten+coin

Either that, or they realize that tungsten is a very brittle metal that’s impossible to coin into the detailed sculptural shapes found on coins.

If you could overcome the hurdle of forming the coin image (such as by overmolding a tungsten slug with epoxy) you could have authentic weight and dimensions of a gold coin (you’d have apparent thermal feel differences that would be easy to detect).

If such fakes became common, I have an invention that would easily detect them, requiring no tools other than a bench vise. It simply attempts a very slight bend in the coin. gold will bend, and will then rock on a flat surface, while tungsten won’t under similar stresses. My invention also restores the coin to approximate flatness.


19 posted on 09/17/2011 8:24:09 AM PDT by Atlas Sneezed (Are you better off now than you were four trillion dollars ago?)
[ Post Reply | Private Reply | To 16 | View Replies]

To: Beelzebubba

Hey that’s a nifty idea. As my Granddad always said, using your head for something besides a hatrack.

Now the chinks will be making bent ones in honor of their beneficiary Slick.

Don’t know what could have happened to the chinese link, maybe they wised up.


20 posted on 09/17/2011 9:49:49 AM PDT by dusttoyou ("Progressives" and ronpaulnutz are wee-weeing all over themselves, Foc nobama)
[ Post Reply | Private Reply | To 19 | View Replies]

To: dusttoyou; Beelzebubba

You are not aware of the other ways to detect tungsten inside of gold? You really believe tungsten cannot be detected, short of drilling? Really?


21 posted on 09/17/2011 11:36:53 AM PDT by Travis McGee (www.EnemiesForeignAndDomestic.com)
[ Post Reply | Private Reply | To 18 | View Replies]

To: Travis McGee

Actually, I haven’t researched it much, other than figuring Slick replaced Ft. Knox with bi-metal bars.

Would think resonance would be a way, but the chatter last year here and there said drilling and assaying was the only way to be 100% certain.

Tell me.


22 posted on 09/17/2011 12:06:16 PM PDT by dusttoyou (paulnutz/bachnutz/palinwishers are wee-weeing all over themselves, Foc nobama)
[ Post Reply | Private Reply | To 21 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson