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 (business):
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).
Let’s take a quick look at some commonly heard storage options for precious metals:
- Home Storage: This is a simpler and cost-effective storage option that offers immediate access. However, it may pose security risks and insurance challenges.
- 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.
- 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.
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.
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.
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.
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.
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.
Deepavali, known as the Festival of Lights, holds a special place in the hearts of Hindus, and Dhanteras, its first day, sees a significant increase in Gold sales across India. The term “Dhanteras” combines “dhan,” symbolizing wealth, and “teras,” signifying the 13th day, making it an auspicious time for Gold transactions.
During Dhanteras, families come together to acquire Gold, whether in the form of jewelry or bullion. Jewelry shops and markets bustle with activity as shoppers select exquisite pieces. Many partake in the time-honored tradition of gifting Gold to symbolize commitment and share in the blessings of prosperity and joy.
But what makes purchasing Gold during Deepavali so auspicious? In Hindu tradition, Gold is seen as the embodiment of Goddess Lakshmi, the Goddess of Wealth. Acquiring Gold on this day is believed to invite Goddess Lakshmi into one’s home, bestowing blessings of abundance upon the family.
Gifting Gold during Diwali goes beyond a display of opulence; it is a deeply ingrained practice. In Indian mythology, Gold is intrinsically connected to Goddess Lakshmi, representing financial well-being. Presenting Gold invokes her blessings, assuring prosperity in the year ahead, symbolizing the illumination of life with wealth and happiness. Beyond its material worth, gifting Gold during Diwali reinforces family bonds, signifying love, respect, and well-wishes for the recipient’s prosperity.
With Deepavali just around the corner, explore our exclusive promotion featuring precious Gold and Silver products. Discover unique items that can bring you added luck and prosperity during this festive season!
Gold Outlook for Q4 2023 (Update)
Our system has turned bullish for Q4 2023, indicating that Gold has ended its cyclical downtrend last week and is now expected to move higher over this quarter. The bears have stepped aside, and the bulls have taken control of the Gold market. The bulls may be attempting to retest the strength of supply at US$2,000/oz level, which they failed to breach on last Friday.
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. Happy trading!
In recent quarters, we find ourselves inundated with new buzzwords such as interest rates, inflation, and the strength of the US dollar. Although we may be familiar with these terms, do we genuinely comprehend their influence on Gold prices or how Gold responds to various economic indicators? In this article, we will explore the complex relationship between critical economic indicators such as inflation and interest rates and the strength of the US dollar with Gold prices.
Inflation and Gold prices
Inflation, which is the general increase in the price level of goods and services, is one of the most significant economic indicators that affect the price of Gold. The logic behind this connection is quite straightforward: when inflation rises, the purchasing power of a currency declines. Consequently, investors and central banks often turn to Gold as a safe haven to preserve their wealth.
Recent Trends: Gold prices are currently trading near its all-time highs. This reaffirms Gold’s traditional role as a hedge against the devaluation of fiat currencies
Note: Generally, the higher the inflation rate, the higher the Gold price.
When interest rates in the economy rise, you can potentially earn more money by putting your funds in savings accounts or investing in assets such as bonds. Gold, on the other hand, doesn’t generate any interest, thus becomes less attractive. Conversely, when interest rates are very low or even negative, Gold becomes more appealing as there are limited opportunities to earn interest from other investments.
Note: High interest rates make Gold less appealing, while low or negative rates make it more attractive.
US Dollar Strength
How does the strength of the US Dollar affect your ability to buy Gold? Let’s illustrate this with a simple example of purchasing Gold with SGD. When the US Dollar is strong, it becomes more valuable compared to other currencies. In practical terms, if the US Dollar is strong, it takes more of your currency to buy the same amount of Gold. This can make Gold appear more expensive to acquire with your country’s currency, which can reduce the demand for Gold and typically lead to lower Gold prices.
Note: The strength of the US dollar and the price of Gold often move in opposite directions.
The relationship between global economic indicators and Gold prices is intricate and interrelated. While inflation, interest rates, and the strength of the US Dollar play significant roles, additional factors such as geopolitical tensions, currency strength, and overall economic stability also exert influence on the price of Gold.
At GoldSilver Central, we are committed to providing knowledge and educational value to our clients seeking to build a robust portfolio in precious metals. Over the years, we have been delighted to grow alongside our clients in their journey of learning about precious metal investments. Please feel free to reach out to us if you have any questions or would like to learn more about investing in precious metals.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial or investment advice. Investing in precious metals carries inherent risks, and market conditions can change rapidly. The notes and observations mentioned here are based on historical trends and typical scenarios, but they may not accurately predict future market movements.
Investors are strongly advised to conduct their own research, consult with a qualified financial advisor, and consider their unique financial situation before making any investment decisions. Past performance is not indicative of future results, and no guarantees of profits or loss protection are implied.
The information presented here is subject to change without notice, and we do not assume any responsibility for the accuracy, completeness, or reliability of the content. Market conditions can change rapidly, and the accuracy, completeness, or reliability of the content cannot be guaranteed. Diversification and careful consideration of one’s financial goals and risk tolerance are essential when investing in precious metals or any other assets.
Gold prices fell by 3.65% or $70 during Q3, which was consistent with our Q3 projection. For Q4 2023, our system suggests that Gold remains on a cyclical downtrend. The bears are still in control and may be attempting to test the strength of demand at US$1,804.10/oz level, which is the current 2023 year low for Gold.
During Q3, Silver prices fell by 2.55% or $0.58, which was also in line with our Q3 projection. For Q4 2023, our system shows that Silver prices will be range-bound but skewed to the downside. The bears have set their next target at US$19.85/oz, which is the current year low for Silver in 2023.
Our system suggests that if the precious metals market continues to decline this quarter, Silver may underperform Gold and fall more.
Platinum prices ended Q3 with a small gain of $4.40 or 0.49%, despite our system forecasting a drop for Q3. For Q4 2023, our system projects that Platinum prices will continue to trade sideways within the US$880/oz and US$990/oz price level.
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. Happy trading!
Dear Valued Clients and Friends,
As the Mid-Autumn Festival approaches, we find ourselves reflecting on the incredible journey we’ve been on together. This special occasion offers us the perfect opportunity to express our appreciation for your unwavering support.
Since the easing of the previous Covid-19’s restrictions, we noticed a heartwarming shift. Many of you have embraced the chance to embark on holidays and travel adventures, reconnecting with loved ones and creating cherished memories. We couldn’t be happier to hear about these heartwarming experiences, knowing that you have been able to enjoy quality time with your families and friends.
Your trust and loyalty have been a guiding light for us, and your stories of joy and togetherness, whether through travel or local gatherings, have inspired us. This Mid-Autumn Festival, we wish you an abundance of happiness, good health, and the continued opportunity to create beautiful memories with your loved ones, whether near or far.
As we look ahead, we are excited to continue serving you and be part of your precious metals journey. Once again, thank you for being an essential part of our journey. Your support means the world to us.
Happy Mid-Autumn Festival!
GoldSilver Central Family
Grand Prix Singapore, held last Sunday at the iconic Marina Bay Circuit, is a heart-pounding event where the intensity, pressure, and adrenaline rush mirror the world of trading precious metals.
In the high-speed world of Formula 1, drivers skillfully navigate the twists and turns of the race circuit, drawing a striking parallel to the way traders navigate the tumultuous waves of the precious metal investment journey. Today, we will explore how the electrifying excitement of Grand Prix Singapore can teach us about trading psychology and how we can apply these lessons in our precious metal investment journey.
At the Grand Prix Singapore, drivers spend hours mentally rehearsing their race strategies, anticipating different scenarios, and visualizing success. Just like Formula 1 drivers, we must be mentally prepared for the unknown challenges that lie ahead. For example, create a well-defined trading plan that includes strategies such as entry and exit points, when to take profit, and when to set stop-loss orders when trading on GSC Live!. The Grand Prix Singapore is known for its challenging night race conditions, requiring drivers to adapt to changing visibility and track conditions. In the same way, precious metals markets can be unpredictable, making mental preparedness and a well-defined trading plan all the more important.
Formula 1 teams meticulously calculate and manage risk to ensure the safety of their drivers. In trading, risk management is equally vital. Define how much you are willing to risk on each trade and when your stop loss, take profit levels should be triggered. Remember Warren Buffet rules for trading in particular rule one and two – Don’t lose money and don’t forget rule one. Always adhere to your risk limits and avoid risking more than you can afford to lose. If you find yourself uncertain about creating a trading plan or defining a margin call, do not hesitate to reach out to us. We are more than willing to provide guidance and support throughout your investment journey.
Continuous Learning and Improvement
Formula 1 teams and traders share the same mindset: Learning has no end. Formula 1 teams invest heavily in research and development to gain a competitive edge. Similarly, for us, continuous learning and improving our investment strategies are paramount. Stay updated on market trends, analyze historical prices, and diversify your investment portfolio for long-term success. GoldSilver Central posts a Morning Call every morning on our Facebook and Instagram platforms, giving you a quick update on precious metal prices 6 hours before your coffee or tea, if you’re not a coffee person. Our colleagues enjoy a cup of Milo every morning while posting the Morning Call!
So, what is your favorite or top-priority trading psychology? We shared a few trading psychology tips that we believe are crucial for your precious metals investment journey. On a side note, are any of you fans of Grand Prix racing? Stay calm, start your engines, safely navigate the precious metals journey, and trade!