Gold metal is rare and naturally metal. Though it can be created artificially, the difficulty and costs
of production are much higher than the market price of natural gold. Apart from the intrinsic
beauty of the metal, history has added magnificence to gold due to its significance in generations of
coinage, jewelry and measures of wealth. Thus, gold is regarded by nations as precious and highly
Countries all over the world strengthen their central banks reputation and securing wealth by
acquiring and retaining gold reserves. Even in times of economic turmoil and financial downturns
when currencies fold and even collapse, gold will still possess high value. It would even accrue
larger value in the long run. Securing gold reserves is a manner of insuring wealth and investing in
a precious commodity which will bring back good returns.
Due to rarity, gold increases in value. Looking at the law of supply and demand, gold maintains its
quantity. Though the gold mining industry, along with the difficulty and high costs of mining, is
constantly struggling to look for more and more sources, the demand for gold simply rises ahead.
Supply runs behind, thus making gold a precious and valuable commodity.
The price of gold in 2001 has skyrocketed to an average of US$271/oz to recent highs of over US$1600/oz over the last six years.
Is Gold Guarantee a scam?
Gold Guarantee is a Singapore company (listed in ACRA and in Malaysia, owned by Lee Song Teck) that buys that gold and they only buy and sell gold with purity grade of 999.9, either International Hallmark or 999.9 Fine Gold.
Compared to many other modern financial instruments that are on ‘paper’ thus having the risk of becoming ‘zero’ value, the value and price of Gold will continue to rise up as global demand continues to increase. With that said, securing your wealth with gold is a good insurance against paper money.
Their programme ensures you no loss not only that they take into account the price at which you purchased your gold, keeps it at that level should you sell it back to them. Share your thoughts using the comment below.
How It Works
The Gold Guarantee sell gold to customers at a selling price and offered them a certain discount. Depending on the contract, there are 2 different types of contract. One is a month (30 days) contract, the other is 3 months (90 days) contract.
Both gives customers a discount when they purchased gold from them, the 1 month contract discount is lesser than the 3 months contract. When the contract day is up, customers can choose to sell back the gold to the company at the selling price (100%), and customers will be able to cash out at the selling price.
The company pay the customers in cheque when the contract is up.
The main difference between Genneva and Gold Guarantee is their tight management where for example Gold Guarantee limits each day's gold transaction, whereas Genneva do not. They do have situation where it hits their daily limit for a few weeks. If you were to confirm buying gold from them, there is a booking fees of $2/gram.
I have to say that their pay backs scheme are great, and it's a promised win win situation for both company and customers.
Where are Gold Guarantee Located?
Here is the address of the Singapore office branch;
42A Boat Quay Singapore 049831
Telephone Phone: +65 6535 4052
Fax: +65 6535 4076
Here is their website information link; http://thegoldguarantee.com.sg, if you are interested do go for their weekly previews and their sales staffs will be able to help you in your question.
We have heard a lot of scammers, ponzi scams and other scamming deals happening in the news, BUT as of now Gold Guarantee is NOT LISTED by our Singapore authority to be dealing legally and no criminal reports.
I have been reading a lot of negative talks on forums and blogs about the other gold company, and Gold Guarantee is still standing strong in Asia Pacific countries like Singapore, Malaysia, Hong Kong and Thailand.
If you have savings to spare and planning to invest, you can look into gold, it's still a good tool to invest in the long run. You can even pass it to your children's children. Important note is not to put all eggs into 1 basket, you should have savings as the main source.
“Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoiding success.”
― Robert Kiyosaki