One common question we have from you is if there is a solution to catch your desired price for selling your precious metals holdings to us.
Today, we will share how you can use our services to never miss out on cashing out on high prices for your bullion under a pooled allocated storage arrangement.
Solution A is for you if you are an investor who
- Wants an automatic arrangement for selling your bullion
- Knows the price level you want to sell your bullion at (Eg: I want to sell my 1kg Gold Bar at SGD 65500)
- Wants a straightforward method with minimal effort.
Here’s how it works:
- Bring your bullion you wish to sell to us during our operating hours where we will authenticate it.
- Your bullion will be stored with us under a pooled allocated arrangement (simply means that your bullion will be deposit into our holdings)
- Let us know what your specific selling price for your metals is. (For example: I want to sell my 1kg Gold Bar when it reaches SGD 65500).
- And it’s done! When spot BID prices have reached your desired selling price, it will automatically be sold.
- You will receive the proceeds via a Bank Transfer*
*we do need to onboard you as a client which means we need your NRIC and the header of your Bank Statement (reflecting the Name and Account Number). Please omit other sensitive information
- Wants full control of when you want to sell your holding
- Wants to sell your holdings bit by bit (For example, if you have a 100oz Silver Bar, you don’t have to sell 100oz at one go, but you can sell in 5oz sizes
- Want to set your own Sell Limits (Automated Feature)
Here’s how it works:
- Bring your bullion you wish to sell to us during our operating hours where we will authenticate it.
- Your bullion will be stored with us under a pooled allocated arrangement (simply means that your bullion will be deposit into our holdings)
- Unlock the Full GSC Live! Account Features with us by clicking here. This can be done before or during your visit.
- We will deposit the total weight of your metals into your GSC Live! Account.
- Login to your account under the “MetaTrader4” app in “GoldSilverCentral-Live” server.
- You can set Sell Limits to automatically trigger your desired selling prices or you can start selling your holdings whenever your desired prices are reached
Have more questions on the arrangements?
Drop us an email or a call and we’ll be happy to share more information with you!
Curious to know how we price our Gold Jewellery Buyback Prices on our website?
Here at GoldSilver Central, we do get many questions on how we calculate our buyback prices for Gold Jewellery and in this article, we aim to address some common questions you would have:
Q: How do I calculate GoldSilver Central’s Buyback Prices from the Gold Prices I see from mediums provided by General News Providers such as Channel News Asia?
Recall seeing prices like Gold: $1544.70 on mediums such as broadcast or on websites of general news providers?
The prices you reflected here are known as spot prices, and represents the prices for 1 troy ounce of Pure Gold. Spot prices refers to the live prices that a commodity is being transacted & delivered at the current moment. Prices are driven by Demand and Supply. The price for selling your Gold Jewellery to us would be based on the BID price.
1 Troy Ounce of Gold = 31.1035 Grams of Gold
Hence, if the price reflected is USD 1544.70, then 1 Grams of Gold would be:
USD 1544.70 ÷ 31.1035g = USD 49.66 per Grams.
Please take note that our buyback prices for Gold Jewellery are reflected in SGD hence, you would need to calculate (BID) Gold Prices in SGD.
If the ASK for USD/SGD is 1.3847, Gold Prices in SGD would be:
USD 49.66 x 1.3847 = SGD 68.76
This would be the spot price in SGD for 1 Gram of Gold.
So how do we price our Jewellery Buyback Prices from the Spot Price?
When this screenshot was taken, the Spot Price (BID) for Gold in SGD was SGD 2099.90 per troy ounce. Please take note that calculations here are based on estimates.
Final Buying Price = Spot Price (1 Gram) – Discount
As we will send the gold to a refiner for melt, the discount amount would include
- Melting Cost
- Transportation Cost (Shipping, etc)
- Insurance Cost for Shipping
- Manpower Cost
- Cost involved
Taking into consideration that Spot Price (BID) would be for Pure (999) Gold,
Spot Price for 1 gram of 999 Gold:
SGD 2099.90 ÷ 31.1035g = SGD 67.51 per gram.
Discount from Spot Price: SGD 67.51 – SGD 64.40 = SGD 3.11.
So, what if the Gold Jewellery you have is of 916 Purity?
Using the same Spot Price (BID) for Gold,
Spot Price for 1 gram of 916 Gold:
(SGD 2099.90 ÷ 31.1035g) x 91.6% = SGD 61.84 per gram
Discount from Spot Price: SGD 61.84 – SGD 58.30 = SGD 3.54
Note: The prices you see on our website would be the final NETT price, means there are no further deductions.
Q: How does a typical process look like when I sell my Gold Jewellery to you?
A typical process looks like this:
- Drop by our Retail Store during our Operating Hours with your Gold Jewellery.
- Our team will sort out your Gold Jewellery based on the purity
- After deducting the estimated weight for any stones on the jewellery, we will then refer to the Jewellery Buyback Prices on our website and use the rates as seen.
- Upon the confirmation of the total amount you would be getting for your Gold Jewellery, we would issue a buyback invoice and the amount will be given to you in Cash.
To see the latest prices for our Gold Jewellery Prices, Click Here.
The GSC Collateral Loan program enables you to retain full ownership of your physical metal holdings but also gives you the opportunity to monetize your assets for expansion of investments or when you need immediate cash flow. It is backed by a registered pawn broker in Singapore.
There are essentially 3 key points to take note of if you intend to make full use of this program to grow your investments* instead of storing your money in banks that give inflation-eroded interest rates:
- You already have precious metals on hand. If you seek liquidity, you can pawn the items to us instead of selling outright. The cost is only 1% interest a month for gold and 1.5% for silver and platinum. If prices go up more than the stipulated interest rate, you can redeem your items for the afore-agreed on principle amount and take profit while still maintain ownership of your items.
- You have no precious metals on hand but wish to own some. The Collateral Loan Program offers you leverage where you buy and then pawn the items with us at the respective loan-to-values (LTV): up to 85% for gold and 75% for silver and platinum. So basically, you can buy a gold kilobar valued at spot bid $65,000 and pawn it back to us at 85% LTV of $55,250. Hey you just paid $9,750 to own a gold kilobar with interest of 1% a month! Again you can choose to take physical delivery or sell your gold kilobar when prices rise above the interest costs to earn a profit.
- You have collateral loan items with us and can choose to revalue your pawn ticket when prices go up. This means you can get instant cash above the interest payment for the month.
For more information, please check out https://www.goldsilvercentral.com.sg/collateral-loan/
*As with any investment, there are risks involved. The above is based on the assumption that bullion prices are on a bullish trend. You may get back less than the amount invested if the market moves against you. You are advised to do your independent due diligence. Alternatively, you could approach us via walk-in, phone call or email for clarification.
You can set up your Price Alerts for the product you are monitoring! Here’s how you can do it:
Step 1: In a Single Product Page, scroll down to the multiple tabs area and click on “PRICE ALERT AND HISTORY”:
You will see the Price History of the product in a chart
Step 2: Click on “Setup Price Alert” as highlighted in this screenshot:
Step 3: You will see a pop up to key in your price and email. Key in your desired price and your email in the highlighted fields and click on “Create Price Alert” Button:
Step 4: You will get a confirmation pop-up and receive an email once the price drops to your indicated price.
World’s largest gold coin, worth $45M, makes NY Stock Exchange debut from CNBC.
New Yorkers are treated to a lovely view of the world’s largest and heaviest gold coin (with a value of SGD 61.47 million (.est)) ever minted. This colossal One Tonne Pure Gold Coin was delivered to the New York Stock Exchange (NYSE) in commemoration of Perth Mint’s latest investment products.
Richard Hayes, Perth Mint CEO, with the world’s largest gold coin. Copyright to The Perth Mint
WE ARE PRETTY BUMMED.
We’re pretty bummed that we can’t be there to view the 1-tonne Gold Coin upfront and to celebrate Perth Mint’s official launch for their latest investment products, so we’ll do here on our Little Red Dot with promotions and giveaways!
Take $5 off selected Perth Mint Lunar Silver Coins from today, Wednesday (17 July 2019 17:00) to Monday (22 July 2019 10:00). For every order on Perth Mint Lunar Series items under promotion, we are giving away Limited Quantities of Perth Mint Australia Kangaroo Gold Chocolate Coins and Perth Mint Gold Bar iPhone X Cases*!
See Perth Mint Specials!
*Only Limited to 1 Chocolate Coin or 1 iPhone X Case per Customer based on Available Stocks. Whilst Stocks Last
Have you been looking to buy uncommon Gold and Silver Collectible Coins from our Global Partners?
Here’s your chance!
In GSC Group Buy, we will accumulate Pre-Orders of selected Gold and Silver Collectible Coins.
If ample orders are fulfilled by the Pre-Order deadline, GSC will confirm the Group Buy.
HOW IT WORKS
- GSC accumulates Group Buy orders
- If minimum order of 10 items are fulfilled upon deadline, GSC will confirm Group Buy
- When items are here, GSC will inform clients that their orders are ready for collection
PRECIOUS METALS MARKET REVIEW.
| Weekly Spot Price (6 May – 10 May 2019) | ||||
| Open | High | Low | Close | |
| Gold | 1280.410 | 1291.290 | 1276.820 | 1285.530 |
| Silver | 14.836 | 14.922 | 14.647 | 14.691 |
| Platinum | 864.340 | 883.340 | 841.470 | 858.940 |
Precious metals updates…
| · | China-U.S. Feud Fuels Haven Demand as Traders Rewrite Playbook Forget all the optimism that briefly reverberated through markets over trade on Friday. The weekend’s events have reshuffled the deck and traders are once again looking toward haven assets. | ||
| · | Gold holds gains Gold edged higher on Friday and was heading for a weekly gain, supported by trade concerns after the United States hiked tariffs on Chinese goods after the recent trade talks between both countries. | ||
| · | Gold steadies in Asia Gold prices held firm on Friday, drawing support from increased trade tensions after US President Donald Trump’s tariff increase on $200 billion worth of Chinese goods took effect, putting the bullion on track for a weekly gain. | ||
| · | Gold price forecast: Upside favored after defense of key support for third straight week Gold could rise above $1,300 next week, having defended a long-term moving average price support for the third straight week. | ||
| · | China Adds Gold For 5th Month, Demand Surges During Important Indian Holiday China’s central bank added gold to its reserves for the fifth month in a row in April, the latest emerging market central bank to stock up on the yellow metal. | ||
| · | Economic figures to monitor this week: | ||
| Day & Date | Economic Events | ||
| Tuesday, 14 May 2019 | Average Earnings Index + Bonus (Mar) (UK) | ||
| Wednesday, 15 May 2019 |
Industrial Production (YoY) (Apr) (CN) Core Retail Sales (MoM) (Apr) (US) Retail Sales (MoM) (Apr) (US) Crude Oil Inventories (US) |
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| Thursday, 16 May 2019 |
Building Permits (Apr) (US) Philadelphia Fed Manufacturing Index (May) (US) |
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| Friday, 17 May 2019 | CPI (YoY) (Apr) (EUR) | ||
To get updates on our Bullion Insights Report, please sign up for our bullion insights report emailer here:
We have added Pre-loved Gold Jewellery as a new product range at competitive prices WITHOUT WORKMANSHIP!
From purity 24K to 20K, covering most of the category of jewellery for example: bracelet, necklace, pendant, ring etc.
Do you know that in Korea, gold’s unit of measurement is termed “Don”?
1 Don = 3.75g.
Koreans have valued gold for centuries and it has been a long lived tradition to give out gold rings, bracelets, necklaces to babies celebrating their first birthday (in Korean it’s called “dohl”).
We have some very unique Pre-loved Korean jewellery that suit perfectly as Baby Shower Gift as well.
Apart from that, we have other auspicious jewellery that you might want to bring it home. Feel free to check out our Pre-loved Gold Jewellery here.
We will update our jewellery periodically, don’t miss out our latest offerings!
20 Feb 2019, Wednesday, 7pm at GoldSilver Central’s Retail Location (3 Pickering Street #01-16 Nankin Row Singapore 048660)
This is a group for anyone interested in understanding and pursuing Numismatic knowledge. We will be sharing educational information on Pre-1933 Numismatic Silver Coins and Modern Semi-Numismatic Silver Coins, their purposes in the market and how you can turn your interest into an investment as well!
Silver Numismatics Guide: Which Morgan and Peace Silver Dollars to Get?
For this meetup, we will be providing in-depth discussion and sharing for Pre-1933 Numismatic Silver Coins (Morgan and Peace Silver Dollar) and on Semi-Numismatic Silver Coins:
- Morgan and Peace Silver Dollars: We will be covering on the Historical Highlights and the most Coveted Years and Mint such as the Rare Years for the Silver Coins
- Price History of the Morgan and Silver Dollar Silver Coins – Providing you with a better understanding of how prices have fluctuated for the Silver Coins
- Semi-Numismatic Silver Coins: What qualifies as a Semi-Numismatic Silver Coins? Does my Koala or Kookaburra Silver Coins have a Collectible Value?
WHY NUMISMATICS?
Numismatics is the proper term for collector coins having added value to their collectors as beautiful, old, precious, rare items, in addition to the value of the metal they contain.
Investments in Numismatics enhances your leverage potential which could result in twofold, threefold and even more, regardless of market fluctuations. We will be covering the topics of Diversification, Profit Potential, and Aesthetics.
NUMISMATICS SPECIALIST:
Stephen Thorson
An investor of Gold, Silver, Platinum and Palladium Precious Metals for 27 years, Stephen Thorson has accumulated a vast and thorough knowledge when it comes to Numismatics.
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Come join us!
