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:

1. Home Storage: This is a simpler and cost-effective storage option that offers immediate access. However, it may pose security risks and insurance challenges.
2. Bank Safe Deposit Boxes: Bank safe deposit boxes are typically stored in a high-security vault. Access, though, may be limited to banking hours. Safe deposit boxes come in various sizes, but if you have a substantial amount of physical bullion in a large quantity, you may need many boxes, which can be costly.
3. Professional Vault: Professional vaulting services offer high-level security, privacy, insurance coverage, and regular audits to ensure the safety of your holdings. However, you need to be aware that professional vault services may not offer immediate access to your items in emergency situations. If you need to retrieve important documents or valuables quickly, you may face delays.

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 [email protected] for a better understanding of how precious metal storage works. We offer a free consultation with no commitment to signing up for any package.

In the vast realm of precious metals markets, regardless of whether you identify as a retail trader, full-time professional, part-time enthusiast, or long-term investor, you employ a variety of styles to trade precious metals. Each style comes with its own set of strategies, time frames, and analytical approaches. Let’s take a closer look at some of the most popular trading styles to help you understand which style suits you best.

Scalping: Seizing the Micro-Moments
Scalpers are the sprinters of the trading world. Their strategy revolves around exploiting small price changes in the markets, executing rapid-fire trades that last mere seconds to minutes. The typical time frame they focus on is 1 to 5-minute charts. The focus here is on quantity rather than quality, with traders aiming to accumulate profits from numerous small trades throughout the day. If you thrive in fast-paced environments and enjoy making quick decisions, this style may be suitable for you. However, the disadvantage is that it can be mentally taxing and requires a high level of concentration and discipline.

Day Trading: The Intraday Game
Day traders are all about seizing opportunities within the same trading day. They work with short to medium time frames, typically ranging from minutes to hours, such as daily, 4-hourly, or hourly charts. Day traders keep a sharp eye on market volatility and aim to make quick decisions to profit from short-term price movements. They might utilize various technical indicators, and news events can act as catalysts for their trades. This style is suitable for individuals who are agile decision-makers and can manage the emotional demands of fast-paced trading. However, it’s important to note that day trading requires constant monitoring and may not be ideal for those with limited time during the trading day.

Swing Trading: Capturing the Price Swings
Swing traders are the surfers of market trends. They seek to ride the waves of price movements over a span of days to weeks. Analyzing both fundamental factors like economic data such as CPI and PPI, as well as technical aspects such as support and resistance levels. Swing traders aim to capture substantial price swings and profit from the ups and downs of the market. This strategy is suitable for those who prefer a short to medium-term approach, typically spanning a few days to a few weeks. It’s well-suited for individuals who can commit a bit more time and analysis to their trades than day traders.

Position Trading: The Patient Investors
Position traders are the marathon runners of the trading world. They have a long-term perspective, holding positions for weeks, months, or even years. Their approach involves a deep dive into macroeconomic factors like monetary policies, government changes, and geopolitical risks. Fundamental analysis, inflation trends, economic indicators, and industry analysis play a significant role in their decision-making process. Position trading is a strategy well-suited for those who prefer a more relaxed, patient approach to investing in the financial markets.

Each trading style has different risk tolerances and is suited to different types of risk-takers with varying risk appetites and time commitments. Whether you’re a quick-thinking scalper or a patient position trader, the key to success in the trading world is to adopt a style that aligns with your goals and to continually refine your strategy as you gain experience.

Have you found your trading style? If so, you can start trading on GSC Live! A demo account is available, allowing you to practice before entering the real world of trading.