Wednesday 12 September 2012

Is Gold Guarantee a Scam?


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
valuable.

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?
The Gold Guarantee Logo

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.


Conclusion

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

18 comments:

  1. Needless to say, gold denotes a lot of things: wealth, social status, financial capability, among others. Sometimes even, riches like these translate to personal worth which is obviously not good. The more you possess, the more you are respected. The power of gold has taken nations and people by storm - the desire to own and acquire this precious metal earns its well-deserved name, 'the King of all Metals'. In acquiring such, you would want only the best.

    I guess before saying that Gold Guarantee is a scam, we should all give it the benefit of the doubt. Let's do our personal research first. It pays to know where or who we entrust our valuables in. Gold is not only ornamental after all. It is an investment, a currency, a valuable commodity that could ensure financial security for us for the years to come.

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  2. This article is a great resource by the way. Thank you for posting.

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  3. Gold is indeed a priceless asset for any individual or an organization. If you are trying to secure your wealth in the best terms, Gold Guarantee allows you to protect your wealth with profitability. The deal is appealing as you get to sell the gold back to them at the purchase price and hence in any time in future, gold value decreases, the company guarantees to buy it back at the cost price. To my opinion, it’s a good choice.

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  4. Gold never depreciates the value. we can argue that Gold Guarantee is a scam that controls the supply of gold. It is a best way to maintain the value of this precious resource. Come to think of it, if the society has an easy access to gold, this precious piece will decrease the value, the economy will fall down then it will cause gigantic problems.
    Somehow, somewhat, someone should control our energy and resource especially for the uncommon piece, and prevent the exploitation of reserve.
    Thus gives us security and value of investment.

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  5. Gold in its truest form is the symbol of luxury and grandeur. Since time immemorial, it has been regarded as one of the most valuable of metals. To a person, amassing bars and bullions would mean a lifetime of comfort and wealth. To a country, it could also mean power. Given the monetary value it exudes, it’s no wonder that everyone desires it. From Ancient Egyptians to new-age miners, gold was used not just as jewelry but also as a form of investment.

    This might have been the kind of commerce that Gold Guarantee has in mind. With the inflation rate going steadily up, it’s a sound call to hedge your money into something that increases in value instead of the other way around. As to whether it’s a scam is yet to be proven. Like any venture, it would be prudent to study it thoroughly before plunging head on to minimize the risks. This way, you have the leverage of increasing your wealth while protecting your investment assets as well.

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  6. Gold is one of the world's most valuable resources as everyone probably knows. Now if Gold Guarantee is a scam, I mean you can read things online that say it either is or isn't. If you have a strong feeling that it is, then why invest in it? Just keep your gold where you know it's going to be safe. Now if you want to see if it's a scam, then try it out if you can afford to. Just my advice :).

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  7. Value of gold will raise for sure overtime irrespective of anything ..
    Gold guarantee for me means, that the gold bar which I buy is free of any other impurities ..

    In times of recession, it is better to invest in gold in name of diversification of portfolio ..

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  8. No doubt Gold price is rapidly increasing now the days. Many people possess it as biggest Asset and use it for getting loan purposes. It is so hard even impossible to getting pure metal. Even most of countries not allowing sale of pure Gold in Jewelery.

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  9. The risk a person is willing to take when it comes to investing is one important factor in making investments.

    That is also true for investing in Gold Guarantee.

    Gold had shown a consistent upward trend in its price throughout history. And keeping that data in mind, one must take note that it is improbable for the gold’s value to drop.

    However, investing in Gold Guarantee is one of the ways to shield yourself with the unlikely event that the gold’s value depreciates.

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  10. While I’m always spectacle about things I read online, I have to say that if Gold Guarantee honors the client’s original purchase price for gold then it sounds like a great investment. Not many companies can make that promise. It’s definitely worth taking a look anyway. Low risk, high reward-sounds like a win-win situation to me.

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  11. As you know, we can never trust our investments, especially the gold one, to someone else, there so many scams made by gold guarantee, because of its rarity and the quantity of investments in this domain, so people must be careful here. Another great article!

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  12. Gold is no doubt the most precious metal in the world. It has shaped histories and nations. The unique property of gold that it does not depend on the currencies, rather it it's self define the value of currency of any country makes it indispensable for any economy. it is yet to be proven that Gold guarantee is scam or not. As it is said, Times is the answer to many questions. So do we will get our answers about the Gold Guarantee company after checking out their dealings and investment returns. This research will surefire tell us about the legality of the company.

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  13. "I can't imagine that "Gold Guarantee" could be a scam. Obviously this company can not predict the future but the returns they have all ready made are surely enough to recompense their customers in the unlikely event that gold does decrease in value."

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  14. From the beginning of human civilization, gold was always been the precious metal for which the human beings were longing for and still it is the most precious metal which has now been converted to one parameter of calculating one country’s national reserve and as well as for personal protection. Increasing the amount almost eight times for the price of the year 2001 shows how it has become the precious metal for the last decades. To keep this value intake, I think the offer from Gold Guarantee is such a good thing we must to do.

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  15. Gold Guarantee is not even close to a SCAM! It is a great company with great ideas and policy. Today, even a biggest world companies do not know what tomorrow bring to them. But really, they working really good and have much good offers and working plans. This is more than a proof of stable and serious company for me.
    I am happy that owner of the blog mention them, because they are one of the best in their category. Just keep it up, nice article! 10+ from me!

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  16. Gold has been considered valuable and precious around the globe. That is why all banks in the world have gold reserves to keep their reputation strong and not only that but also to preserve wealth. The rarity of gold and the demand for it are the two factors that make it valuable, thus its purchase price continues to rise which in turn makes the selling of gold a lucrative investment. One should be wary when dealing gold to avoid scams.

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  17. Natural precious metal like gold is a solid investment. For the very beginning of the human evolution human tries to sort out the correct way of investment both for the purpose of both of bread and butter and luxury, whereas a company gives the guarantee on gold. This company buys excellent quality of gold (“purity grade of 999.9 or International Hallmark or 999.9 Fine Gold”). So as far I understand gold guarantee is not a scam. One can be easily be secured by investing on gold from gold guarantee. Thanks to the writer of the article for producing such an informative article.

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  18. Both The Gold Guarantee and Asia Pacific Bullion have been on the MAS Investor Alert list for months(NOT a good thing) already, now the CEO Lee Song Teck is uncontactable, for those that are gullible enough to still believe in these 2 companies, I can only say you deserve it.

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