We are a Singapore registered company that specialises in physical bullion trading in Gold, Silver and Platinum at real-time pricing, completed with a whole array of services.
+65 6222 9703 | Mon to Fri: 10am to 5.45pm | Sat: 10am to 12.45pm
Email: enquiry@goldsilvercentral.com.sg
GoldSilver Central Pte. Ltd.
3 Pickering Street #01-15/16 Nankin Row Singapore 048660
Gold prices experienced a substantial surge of 11.61% or $214.55 in Q4, aligning closely with our revised projection unveiled on October 23, 2023. As we transition into Q1 2024, our system indicates that Gold maintains its cyclical uptrend, with the bulls retaining control. There is a potential move to test the strength of supply at the US$2,144.72/oz level, representing the 2023 year high for Gold.
Throughout Q4, Silver prices saw a 7.45% or $1.65 increase, trading within a range initiated in Q2 2023 but surpassing our initial projections. Looking ahead to Q1 2024, our system shows that Silver prices will persist in a range-bound pattern, albeit leaning towards the upside. The bulls have identified a target at US$25.91/oz, mirroring the peak in Silver during Q4 2023.
Our system suggests that in the event of a continued uptrend in the precious metals market this quarter, Gold may exhibit stronger performance compared to Silver.
Platinum prices closed Q4 with an increase of $82.78 or 9.16%, aligning with our Q4 projection. Moving into Q1 2024, our system projects that Platinum prices will remain within a range but with a bias towards the upside. The bulls are eyeing a target at US$1007.61/oz, reflecting the quarter high for Platinum in Q4 2023.
Please feel free to contact us if you require additional information or have any further questions regarding our Q4 outlook for precious metals. We are always here to assist you and wish you a successful trading experience! Happy Trading!
Dear Valued Clients,
As announced in Budget 2022 by the Minister of Finance, the GST rate will be increased from 7% to 8% with effect from 1 January 2023 and from 8% to 9% with effect from 1 January 2024.
Starting on 1 January 2024, GoldSilver Central will begin collecting GST at this new rate of 9% on our products (except for those defined under Investment Precious Metals which are GST exempted in the GST Act) and services to clients. Examples of services which will be subject to 9% with effect from 1 Jan 2024 are:
1) Storage charges under GSC Bullion Storage Program
2) Handling and Transfer fees under GSC Bullion Storage Program
3) Storage fees under GSC Savings Accumulation Program (GSAP)
4) Delivery fee for domestic delivery of insured goods to your doorstep
Please note that for purchases of goods and services with us on or after 1 January 2024, GST will be chargeable at 9% unless full payment is received by 31 December 2023.
For more information, please refer to the following Government announcements below:
GST Rate Change (consumer):
GST Rate Change for Consumers (iras.gov.sg)
rate-change-flowchart-for-consumers.pdf (iras.gov.sg)
GST Rate Change (business):
IRAS | Overview of GST Rate Change
etaxguide_2023-gst-rate-change—a-guide-for-gst-registered-businesses_1st-edition.pdf (iras.gov.sg)
Thank you.
If you are reading this article, I believe you are either already investing in precious metals or contemplating doing so. When it comes to investing in precious metals, especially physical bullion, a common question arises: “How should I store it?” and “Where should I store it?” Fear not, in this comprehensive guide, we will explore various aspects of precious metal storage and how to effectively safeguard your wealth.
Types of Precious Metals
Before delving into storage options, it’s essential to understand the types of precious metals in which you can invest. The most common ones include Gold, Silver, and Platinum. Some key considerations to take into account when deciding which types to invest in are your investment goals, risk tolerance, diversification, liquidity, and more. For a more in-depth understanding and to make well-informed decisions regarding precious metals, you can read more about each of them here (Gold, Silver and Platinum).
Storage Options
Let’s take a quick look at some commonly heard storage options for precious metals:
Security Considerations
Regardless of the storage option you choose, security should be your top priority. Ensure that your chosen facility or storage method offers robust security measures, including surveillance, access control measures (biometric authentication, PIN number, smart card, etc.), 24/7 security staff, dual custody, and insurance against theft, damage, or loss.
Insurance
Always ensure that your precious metals are adequately insured to protect against theft, fire, and other potential risks. In the event of unforeseen circumstances, insurance coverage provides peace of mind and financial protection.
Regular Audits
Choose a storage solution that conducts regular audits and provides transparent reports on your holdings. Auditing is essential for several reasons, such as detecting discrepancies, deterring theft, providing proof of ownership, and offering peace of mind. This ensures accountability and trust in your investment.
Costs
Different storage facilities may have varying fee structures. Consider all costs associated with storage, including account maintenance fees, insurance costs, and any potential hidden charges. You should not compromise security and services for cost.
Exit Strategy
Plan your exit strategy in advance. A clear and well-defined plan for what you will do with your precious metals when you need to sell, use, or access them is important for any urgent or unexpected situations that may arise. Whether you need to capitalize on a financial opportunity or require urgent cash flow, an exit strategy ensures that you do so in a way that maximizes the value of your precious metals.
In conclusion, safeguarding your wealth through precious metal investments requires careful consideration of storage options, security measures, insurance, audits, cost, and an exit strategy. If this sounds complicated, worry not; the GSC Bullion Storage Program covers all these considerations to ease your mind. Reach out to us at storage@goldsilvercentral.com.sg for a better understanding of how precious metal storage works. We offer a free consultation with no commitment to signing up for any package.
GoldSilver Central Pte Ltd (UEN: 201107187N), a Singapore registered company since 2011 specialises in physical bullion trading in gold, silver and platinum at real-time pricing, industry bullion supply, bullion buying and selling, collateral loan and secured storage under GoldSilver Central’s Bullion Storage Program at the Le Freeport.
Monday to Friday:
10:00am - 05:45pm
Saturday:
10.00am - 12.45pm
3 Pickering Street #01-15/16
Nankin Row
Singapore 048660
enquiry@goldsilvercentral.com.sg
+65 6222 9703
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