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BullionStar

Torgny Persson

Torgny Persson is the founder and CEO of BullionStar. In this blog,
Torgny is sharing what's happening inside BullionStar as well as news
and research from the local and global precious metals markets.

BullionStar – We are Open for Orders – Update of Services 11 April 2020

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  • Author Torgny Persson
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Updated 11 April (originally published 7 April)

The Singapore Government has announced that non-essential workplaces will be closed from 7 April to 4 May. BullionStar has been exempted from the circuit breaker suspension as an essential service company for e-commerce orders. This means that orders can be shipped for delivery or processed into vault storage as per normal.

Customer Buy Orders

All customer buy orders must be placed online at www.bullionstar.com. The minimum order amount is SGD 1,000.

Delivery Methods

Shipping by CourierFREE Delivery – All local delivery within Singapore for buy orders during the circuit breaker period will be FREE of charge. Select “Shipping by Courier from Singapore" and your order will be delivered to you without any delivery charge. All deliveries are insured with BullionStar taking the full risk of the delivery until received and signed for by the customer.

Vault Storage – Alternatively, select “Vault Storage" for customer buy orders. All customers placing buy orders for vault storage between 26 March and 4 May will be granted one FREE vault withdrawal (redeemed before 31 December 2020).

Personal Collection/Pick-up – For orders with Delivery Method: Personal Collection (Pick-up), we have sought clarification from the authorities whether such orders are allowed to be picked up at our premises at 45 New Bridge Road during the circuit breaker period.

We will announce the outcome of our request for clarification from the authorities on our website as soon as clarified. Meanwhile, the physical outlet at 45 New Bridge Road will be closed for collections and hand-overs. You can still however place your order for Personal Collection (Pick-up) and pick up your order at the earlier of the authorities clarifying it to be allowed or when the circuit breaker period ends.

Cash payment, cheque payment, card payment and NETS payment is temporarily suspended until the physical outlet is re-opened. Orders can be settled by bank transfer, Pay Now or in cryptocurrency.

Customer Sell Orders

All customer sell orders must be placed online at www.bullionstar.com. The minimum order amount is SGD 2,500.

BullionStar will call you or email you to schedule a courier pick-up of your sell order after having placed your sell order on www.bullionstar.com. BullionStar will instruct you about the process and arrange for a FREE insured courier pick up of your metals and deliver them to BullionStar. Sell orders will be settled within two business days from received via bank transfer.

Orders New Zealand

We are again taking orders for our stock inventory in New Zealand. Order processing is however delayed. All products available for ordering are in stock in our vault and your order will be processed at the latest when the New Zealand lockdown ends.

Bullion Inventory & Availability

We continue to have stocks for many products despite the overwhelming demand we have seen lately as our strategy has been to hold high inventory levels leading up to the present crisis.

We only sell metals we have in stock or metals which are purchased by us that has already arrived in Singapore and are on route to us. You can view the availability status on our website. All metals indicated as “In Stock" are available for immediate release/delivery.

With a global shortage of precious metals, with price discovery broken, with refineries having suspended their operations, with logistic routes being impacted by flight cancellations and with metals held privately gone into hiding, it’s extremely challenging for us to replenish metal. As there are no reference markets, premiums and spreads are therefore higher than normal.

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