COMEX bars are the formal way of categorizing any type of bullion bar that is authorized by the United States Commodities Exchange. The most commonly traded COMEX bars are the Johnson Matthey, Pamp Suisse and Credit Suisse varieties. The Commodities Exchange has formulated a standard in which bullion bars should be traded, and all American investors need to follow these rules in order to keep the market running smoothly. It’s very important to know that these products are made of pure .9999 fine gold (24-karat), instead of the lower quality 22-karat gold.
As far as investing is concerned, COMEX bars have been used for years as an excellent short-term profit-taking tool, and they are also the traditional way of investing in gold over a longer period of time as well. Many precious metal investors think about their childhood dreams of having stacks of gold bars in a secure location, and now that it is possible to invest in them for private use, these dreams are becoming a reality. The metal has been doing impressively well this year, and as of yesterday it had increased 8.1% in just three months, which is quite good considering the MSCI World Index of stocks had fallen 14%. There are many different reasons why investors would want precious metals at the moment, but when it comes down to it, it’s all because of their historical tendency to thrive during difficult economic times. For example, the last time the United States saw a high inflationary period was in the 70s and 80s, and gold increased in value by more than 1000% at certain times during that period. Happy investing.