Akshaya Tritiya, falls on this coming Saturday, 22 April 2023 is a Hindu festival celebrated on the third day of the bright half of the Indian lunar month of Vaishakha. This day is considered to be auspicious for new beginnings, investments, and the purchase of valuable items, especially gold. The tradition of buying gold on Akshaya Tritiya dates back to ancient times, where it was believed to bring prosperity, wealth, and good fortune to the buyer.
In Hindu culture, gold is considered to be a symbol of wealth and is often associated with the goddess of wealth, Lakshmi. Purchasing gold on Akshaya Tritiya is believed to ensure that the buyer’s wealth increases in the coming years. This belief has been deeply ingrained in the Hindu culture, and it continues to be a popular practice in India and other parts of the world.
Apart from being a symbol of wealth, gold also has auspicious properties that ward off negative energies and bring good luck. This makes it an ideal gift for weddings, which are often held on Akshaya Tritiya. Many people buy gold jewelry as a gift for the bride or groom on this day, as it is believed to bring good fortune to the newlyweds.
In conclusion, the tradition of buying gold on Akshaya Tritiya is deeply rooted in Hindu culture and traditions. It is believed to bring prosperity, wealth, and good fortune to the buyer, and it continues to be a popular practice in India and other parts of the world. The auspicious properties of gold also make it an ideal gift for weddings, which are often held on this day. Therefore, buying gold on Akshaya Tritiya is an important cultural practice for many Hindus.
Looking to buy gold this Akshaya Tritiya or any time of the year? Check out our Akshaya Tritiya Specially Curated Selection for a wide range of bullion options.
Shine Bright Like a Gilded Rabbit: The 2023 Australian Rabbit Gilded Proof Silver Coin
Are you a fan of adorable rabbits? If so, you’ll love the 2023 Australian Rabbit Gilded Proof Silver Coin 1oz, limited to only 23,500 issues!
This coin features a beautifully detailed gilded rabbit on the reverse side, with one rabbit alert and the other stretching towards a budding branch, adding a touch of whimsy to the design. The obverse side of the coin showcases a portrait of Queen Elizabeth II, lending a touch of royal elegance to this playful piece.
Crafted from one ounce of 99.99% pure silver and selectively gilded with 24-carat gold, this coin is a stunning piece of art. The gilded finish on the rabbit gives it a unique and collectible appeal, setting it apart from other silver coins.
So, if you’re a fan of cute and cuddly things, consider adding the 2023 Australian Rabbit Gilded Proof Silver Coin 1oz to your collection. Every time you see it, the coin is sure to bring a smile to your face. Place an order today!
2023 Australian Kangaroo Silver Coin 1oz – It’s extra special this year!
The Australian Kangaroo Silver Coin 1oz is a beloved treasure for collectors and investors alike. Not only is it a Precious Metal investment, but it’s also a charming representation of Australia’s iconic kangaroo. The coin is minted in 99.99% pure silver, ensuring its high value and quality. Its beautifully crafted reverse side depicts a jumping red kangaroo, adding a touch of cuteness to your collection.
But that’s not all! This year’s edition of the coin features a modified obverse design that commemorates the passing of The Late Majesty Queen Elizabeth II, who served as Australia’s Head of State for an impressive 70 years until September 2022. This makes the coin extra special and adds a touch of royal elegance to your collection.
The Australian Kangaroo Silver Coin is a smart investment option due to its high purity and limited availability, and its iconic kangaroo design only adds to its appeal. Whether you’re a seasoned collector or just starting out, the 2023 Australian Kangaroo Silver Coin 1oz is sure to bring joy and value to your collection. Don’t miss out on the chance to own a piece of Australia’s iconic wildlife and a valuable investment. Order your 2023 Australian Kangaroo Silver Coin 1oz today!
Dear Valued Clients,
As announced in Budget 2022 by the Minster 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 Jan 2023, GoldSilver Central will begin collecting GST at this new rate of 8% 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 8% with effect from 1 Jan 2023 are:
1) Storage charges under GSC Bullion Storage Program
2) Handling and Transfer fees under GSC Bullion Storage Program
2) Storage fees under GSC Savings Accumulation Program (“GSAP”)
Please note that for purchases of goods and services with us on or after 1 Jan 2023, GST will be chargeable at 8% unless full payment is received by 31 December 2022.
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-
GST Rate Change (business):
IRAS | Overview of GST Rate Change
etaxguide_2023-gst-rate-
Thank you.
A recession in US seems likely, but will Gold be a good asset to own if a recession hits?
Recession is defined as a significant, widespread and prolonged downturn in economic activity. Usually many will term that a country is in recession if there are 2 consecutive quarters of decline in GDP.
Currently, US is not in a recession yet, but many analysts have mentioned that a recession is a very likely scenario if the Fed continues their aggressive stance of raising interest rates to combat inflation. Higher interest rates will increase the cost of borrowing, businesses and consumers will likely cut back on their spending and hiring which will in turn lead to less economic activities.
If US goes into a recession, the popular investment portfolio of holding majority equities might be greatly challenged and many would look at diversifying into other asset classes to tide through this period.
Gold during past recessions
From the above past recessions after the Bretton Woods system collapsed (USD no longer pegged to Gold after 1973), Gold has held up well during recessions except during the Iran & Volcker recession.
Gold seems to have put up a good case for investor to consider especially if the US economy goes into a recession. Will you be looking to add some Gold into your portfolio this period as a safe haven asset?
If I wish to, how much of my portfolio should I then look to allocate to precious metals? This might be the question that you would like to ask. Fret not, we will touch on this in one of our articles, so stay tuned or alternatively, email us at [email protected] or speak to us at +65 62229703 and we will be more than happy to work on this together!
Always remember that periodic management of an investor’s portfolio is important as this will ensure you keep track of your investments and allocate your funds to the asset class that might provide you with a higher return during that period! Also, never put all your eggs in one basket, especially during periods of uncertainty in the economy.
Disclaimer
Please note that past performance is not indicative of the future or likely performance of Gold. This is merely for information and data contained in this article has been obtained from sources believed to be reliable, but GSC makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose. Please note that none of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell Gold.
Any expression of opinion (which may be subject to change without notice) is personal to the author and the author makes no guarantee of any sort regarding accuracy or completeness of any information or analysis supplied.
Brian
Get excited! Pamp Suisse and Australian Lunar Rabbit Bars and Coins are available for pre-order now!
Get excited! Pamp Suisse and Australian Lunar Rabbit Bars and Coins are available for pre-order now!
Pamp Suisse Lunar Rabbit Gold and Silver Bar
Following the lunar cycle, 2023 is the Chinese Year of the Rabbit, and is celebrated from the 22nd of January 2023 through to 9th February 2024. The latest addition to the popular Lunar Calendar Series celebrates the Rabbit with an ingot design featuring exceptional artwork original to PAMP, rich in traditional Chinese symbolism.
Available in 5g or 1oz of fine gold, or 10g or 1oz of pure silver, this charming design celebrates the Rabbit as the luckiest of the Chinese zodiac symbols. The Rabbit possesses a gentle nature, elegance and beauty, patience, alertness, a responsible nature, and represents long life.
The Rabbit is a very social creature once trust is established. Thanks to its agility and speed it will persevere and overcome obstacles to achieve a goal.
Its lucky directions are east and south, & it is strongly associated with the moon in ancient Chinese folklore. Water is the element associated with the 2023 Lunar New Year and here a Rabbit facing east snacks on a carrot plucked from an overturned basket of fresh vegetables harvested after a season of temperate rainfall. In the foreground is the napa cabbage, considered extremely lucky in Chinese culture.
Australian Lunar Rabbit Gold, Silver and Platinum Coin 1oz
2023 Year of the Rabbit coins feature the work of Ing Ing Jong, a member of the Mint’s design studio since 2011 – the previous rabbit year!
Capturing the animal in different moods, Gold and Platinum coins portray an energetic rabbit leaping among grasses with feathery plumes, while her silver artistry is a tranquil image of two rabbits under a budding springtime branch.
According to legend, the rabbit finished fourth in the Great Race, held to determine which animals should be represented in the lunar zodiac. Consequently, it has represented every fourth year in the 12-year lunar cycle.
Intelligence, creativity, vigilance and compassion are said to be among the personality traits bestowed on those born under the rabbit’s influence in 2023.
In our previous article, we have given a brief introduction of Retail Gold Investment Principles (“RGIPs”). As mentioned, RGIPs consist of a recommended checklist of seven listed principles. This week, we will look at the first principle, “Fairness and integrity”. So what does this mean?
“Fairness and integrity” explains a provider must treat customers fairly and act with integrity, from information and service provision through to transaction completion. It covers general guidance in four areas: fair marketing, education and support, fair pricing and fees, and fair trading and transaction completion.
GoldSilver Central/Kim Gold serves our valued clients with integrity, knowledge and capability. As part of practising RGIPs, we have put in place stringent processes and are selective on the jewellery pieces we pick to ensure authenticity, quality and to meet the standards for weight and purity. We, together with our valued clients, value ethical, responsible purchasing and sustainable living.
If you are interested to read more about the RGIPs, click here.
#GSCxRGIPs
Evon
What are the Retail Gold Investment Principles (RGIPs)… and more importantly, how does it impact investors?
Retail Gold is global — with private investors holding approximately 45,000 tonnes of Gold in bars and coins (that’s around 22% of all the Gold mined throughout history). In fact, bar and coin demand accounts for 25% of annual global Gold demand — representing over 1,000t of retail Gold investment each year. But, beyond bars, coins, and collectibles, Gold ownership has long transcended the need for physical storage. As technology continues to pervade many aspects in our modern lifestyles, investors have also now begun to own Gold in digital formats vaulted on investor’s behalf and operated via mobile apps and websites.
Although retail Gold markets generally operate under local regulation in different jurisdictions, more initiatives were mooted on ways to enhance transparency and build further trust in the retail Gold marketplace. Subsequently, after conducting in-depth research globally, the World Gold Council developed the Retail Gold Investment Principles (RGIPs) as a set of guidelines to steer deeper trust and build relationship between Gold investors and their service providers for a sustainable healthier retail Gold marketplace.
Determined to benefit both retail investors and industry practitioners, the RGIPs was first established by The World Gold Council in August 2020. A recommended checklist of seven listed principles form the basis of how service providers should operate and how investors can identify trustworthy providers fulfilling these guidelines in the diverse retail Gold market.
Since its release, the World Gold Council’s guides have made quite the global impact with adoption in key markets like Singapore, India, China, Germany and North America. Subsequently, the World Gold Council continues to advocate adherence to the Retail Gold Investment Principles by engaging providers and stakeholders worldwide.
These efforts include:
So this is just our first snippet of RGIPs and we hope that you have a better understanding of why this topic will feature regularly in our upcoming articles. We will be covering each principle area in the coming weeks so please stay tuned to our blog. Feel free to reach out to us at +65 62229703 or [email protected] if you have any feedback or comments to add. Meanwhile, stay safe.
#GSCxRGIPs
Reposted from Kim Gold
The Festival of Lights, also known as Deepavali, is widely celebrated every year by Hindus. The first day of Deepavali, Dhanteras, is typically a day of peak sales in Gold annually in India. Dhanteras is a combination of the words, “dhan” (signifying wealth), and “teras” (which means 13th day), and is considered opportune to purchase some form of Gold on this auspicious day.
Why is it auspicious to buy Gold during Deepavali?
The Hindu community views Gold as an embodiment of Goddess Lakshmi, the Goddess of Wealth. Therefore, the ritual of buying Gold bullion or jewellery on Deepavali is believed to invite Goddess Lakshmi to their home and to bless the families with an abundance of wealth.
The legend behind Dhanteras
Once upon a time, King Hima had a son and astrologers predicted the death of the Prince would be on the 4th day of his marriage due to snake bite.
In order to save her husband’s life, the Princess placed all the Gold ornaments in front of the main door to block the snake from entering their palace. With the help of the Gold ornaments, the snake was blocked as their dazzling brilliance nearly blinded the snake.
Thus, the legend of how the Prince was saved from impending death inspired the ritual of buying Gold on the first day of Deepavali. Read More.
This year, we are running a Deepavali special promotion, featuring precious Gold and Silver products. As is commonly known, the Ox is a sacred animal for majority Hindu community, so the Australian Lunar Ox Silver Coin 1oz is on promotion too! Check out our exclusive items here! Grab this chance to get an item from us for additional luck and wealth during this Deepavali!
Gold has never been something that I want to own all along – instead now I believe it is one of the best assets for me to own right now
A summer low in Gold is frequent enough to be noticeable, but not consistent enough to be reliable. Somehow like my erratic mood swings.
Much younger days, I used to think that Gold jewellery is so old fashioned, and the bling bling feel is too loud to be worn as an accessory. It has never crossed my mind even to own it.
However, Gold tends to fascinate and grows on me more when I finally get in touch with precious metals in GSC, changing my perspective on owning Gold bullion. Also after realising the value of Gold and every investor is different; those who invest in Gold do so for a variety of reasons. Investing in Gold has never been so popular. Valued for its ability to perform well during times of boom and bust, Gold has been trusted by investors all over the world for millenniums. The fact is investors who started accumulating bullion in the early years when Gold price was so low had made their profits as of now regardless how the prices fluctuate through these years. Witnessing the investors that I had come across from the time I learn about bullion, they invested and had multiplied over the years, and now they are harvesting their fruits – the gains. Of course, these are long term holders of Gold and has always held Gold in their portfolio; they have also been optimising their portfolio, using other tools such as borrowing against their holdings or liquidating it when it has appreciated to move into other asset classes and then move back into Gold when it seems like Gold will outperform other asset classes. These are all available and offered by GSC, feel free to reach out to us or click here to drop us an email for us to follow up with you.
Nothing beats the foresights and trust those investors had in bullion all the time despite the volatility and fluctuation in the Gold prices. In terms of price, the high for the year was $2,072 per ounce – in March, shortly after Russia invaded Ukraine. The low for the year was $1,680 – that came in end July. Currently Gold is just above S$1700 levels and is worth looking at.
Gold is something that you can own physically at any point of time, no counterparty risk and glad I do have some as they were gifted to me, and I’m truly blessed for that. I’ve strongly believe it’s a way for wealth preservation regardless of time, and more so in an impending recession!
Connie
We have seen ETF outflows and falling open interests in Gold futures thus far, seems like the “summer doldrums” as many coined this term for Gold is back after being absent for the last 2 years.
Interestingly, World Gold Council has released Central bank Gold data and Central banks were net buyers of Gold up to July. These price levels seem to be attractive to Central banks and if this will continue to later parts of this year is yet to be seen.
WGC has reported that Gold is doing well in many currencies except in USD, CAD and we know for SGD (Table 1)too thus far. Based on their report, Gold is seems to be a good asset class to hold during recessions together with corporate and treasury bonds (Chart 1). However, at this moment, we are not in a recession and even if US enters into a recession, will Gold continue to shine during this period? It is important to be diversified to tide through difficult periods and seize opportunities when it presents itself. Holding precious metals in a portfolio is important and seems to make sense based on the data presented, however, the rule of thumb is always not to put all your eggs in one basket.
Chart 1:
Brian