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Singapore is becoming the premier destination for buyers of gold and silver.
Published: 02-08-2012 10:14
How do I preserve my savings?
Amid the financial turmoil the world is experiencing, you have to ask yourself what you can do to ensure that your savings remain intact. It just doesn’t cut it anymore to invest in “risk-free” Treasuries, or in the stock market; not when prices go up and down depending on the statements of monetary officials for that day. This need for stability is addressed when you buy gold and silver. In Singapore, the conditions for precious metals purchases are ideal.
But first, we have to tackle what makes gold and silver worth buying. These two metals allow you to preserve your savings. Unlike with fiat currency, which constantly depreciates, gold and silver have maintained their purchasing power for thousands of years. In the last century, we have seen the US dollar shrink to 2% of its original value. During the 1930s, gold was priced at about US$20 an ounce. In 1971, just before the dollar’s connection to gold was forever severed, the price was $35/oz. In 2001, this was around $300/oz.
Over the ensuing decade, gold rose more than fivefold, to $1,600/oz. (around SGD2,000). It is evident that the market has turned to gold and silver, whose price has risen along with gold while nations devalue their currencies.
Today is a time of significant financial uncertainty, and as before, people are turning to hard assets, to the point that some governments are trying to deter them. India, for example, has had a tradition of gold for currency, for industry and for adornment. Yet its government is enforcing import restrictions.
Luckily, Singapore is known as a stable jurisdiction, where property rights are strongly enforced. When you buy gold and silver in Singapore, there is no need to declare your purchases, whether local or imported.
In addition, Singapore is expected to remain resilient while US and European governments struggle in their debt woes. Traders looking for alternative destinations are coming to Singapore, in particular, its precious metals market. There is added security in holding your gold and silver here, with Singapore’s crime rate being one of the lowest in the world.
In Singapore, the buying of gold is not only allowed, but encouraged. This October 1, 2012, the Singaporean government is removing its 7% gold import tax, which is expected to boost local demand further. Make sure you’re not left out!
BullionStar is stepping up in providing you with the opportunity to accumulate gold. The buying process is easy, transparent and absolutely safe. You can be assured of full possession of your money in gold and/or silver.
You can choose to have your precious metals at home, or stored in the BullionStar vault, which has the lowest storage fees. If you decide to hold the metals yourself, there is full traceability from the time of your purchase to the time the gold gets to your doorstep.
The staff are fully aware of the reasons for buying gold and silver, and you can count on a team of experts to provide you with the necessary knowledge in making your purchases.
In short, why should you buy gold and silver in Singapore? Security, and affordability.
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