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A general guide about precious metals, and purchasing them in Singapore
Published: 07-08-2012 16:14
An alternative to stocks and bonds
The past five years have taught many investors, and the man in the street as well, that governments could not be trusted to keep your money safe. Through money printing, the value of your currencies diminishes, even without a single note taken from you. So it is no wonder that people are looking for alternatives to currencies and conventional financial instruments such as bonds and blue-chip stocks.
Some speculate on “the next big thing,” searching among companies in biotech or exploration for new energy sources, and there are bound to be winners there. Yet these are risky endeavors; even in the event of a technology revolution, choosing the wrong company can be disastrous. But there’s a safer yet highly profitable route you can take. When you invest in gold, you take into account economic realities and near-certainties.
The critics of gold
In spite of its track record of thousands of years of maintaining purchasing power, gold remains controversial among analysts, especially in the mainstream media, who like to toss the word ‘bubble’ in reference to gold’s progressive increase of about 300% since the late 1990s. Incidentally, none of these analysts recognized the recessions of 2001 and 2008 for what they were, while ‘gold bugs’ such as Peter Schiff and Marc Faber did.
Furthermore, the importance of gold and its indispensability to sound money is acknowledged by none other than central banks all around the world. These central banks are of course to blame for all the easy credit that was eventually placed in bad investments such as derivatives based on high-default-risk housing loans. While they attempt to rally their stock and bond markets, they try to make as little noise as possible about their heavy buying of precious metals. What better endorsement for a product can you get than from the enemies of sound money themselves?
Gold in Singapore
When buying gold in Asia, Singapore and Hong Kong are the most often-mentioned destinations. This is because both offer large markets, and only small inconveniences in the purchasing of precious metals. Singapore, in particular, has gold investors excited, with its announcement of removing its Goods & Services Tax (7%) on gold purchases!
This is really exciting, especially for the purchasing of physical gold rather than paper gold. It is clearly safer to be able to possess physical gold, since paper gold is only as good as its value in paper (or computer 1s and 0s). Because of the uncertainty surrounding the stability of the paper markets, there will eventually come a discrepancy between physical to paper gold, where people will express their preference for the former by a higher price compared to the latter.
Safe and sound buying option
A bullion trader like BullionStar provides physical delivery, as well as vault storage options, in accordance to your preferences. Either way, you are in complete ownership and can possess the gold anytime. It is not like with banks which finance loans to other clients through deposits that are supposedly withdrawable at all times by the depositor!
With BullionStar, you are guaranteed of 100%, one-to-one backing. It is simple to invest in gold in Singapore, and you don’t need to be an expert (an understanding of the fundamentals is helpful though). All you need to know is that gold is going to protect you in tough times when currencies depreciate, such as today.
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