What are Gold and Booklets Certificates of deposit in Gold?

May 25, 2023 – 03:04 pm
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When you invest your savings in gold financial're considering that there is always a risk of the counterparty (counter-part risk) is the risk that the financial institution that intermediate the purchase did not physically possess the yellow metal?
In recent years we have had the opportunity to talk with a myriad of gold investors, particularly Asian buyers. Although in Asia there is a strong tradition in investing in physical Gold, in recent years has prolificata an abundant supply of financial products coupled with precious metal prices.

Therefore, we take the opportunity to explore the question of gold and its financial derivatives.

If you're considering investing in these products that make reference to gold and silver, specify which particular investment vehicle the counterparty refers.

We simplify taking the example of certain products of Asian institutions. In any case, funds or financial institutions that are Asian or European, if you want to invest in gold is always better to clarify the financial terms of the contract that I propose prior to signing it.

Therefore, let's get into the shoes of a saver who wants to employ Asian part of its capital in these financial products.

  • 1) Do you sell physical gold or certificates representing physical gold?

Watch out for all three types of products are not physical gold (coins or bullion for investment) but are financial products, representative of physical gold for investment.

  • 2) What are the "certificates representing physical gold"?
(paper gold),

With a certificate representing gold do not have gold. In many cases do not even have the right to convert into physical gold of the same certificate.

In legal terms Anglo-Saxon, means you're creditor against a third party (ie the one that issued the certificate), which is subject to a myriad of counterparty risks, and could be exposed to additional risk of failure to bankruptcy.

Examples of paper certificates issued by banks or financial institutions are the "savings on precious metals" (passbook gold), "equity funds futures markets" and other products known as ETFs (Exchange-Traded-Funds).

Although these products are really influenced by the price of gold which are representative, these financial vehicles often do not give the right to convert into gold certificate in your possession.

Products Financial Derivatives of Gold and Silver physical
We concentrate and analyze certain types of financial products offered by Asian banks (we could also extend the analysis to financial products offered by European or U.S. banks, for convenience we use the Asian direct knowledge).

  • The Hang Seng Bank in Hong Kong, offers "paper gold account" which are subject to the risk of failure of the Bank. They do not offer any protection in the event of default of the financial institution and in the case of insolvency, the investor is subject to the loss of the entire capital. These deposits are not subject to the jurisdiction of the Hong Kong Deposit Protection Schene (Fund for the protection of deposits) . In the case of bankruptcy, the payment of deposits is not guaranteed by the Government Supervision in Hong Kong, the Hong Kong SAR Government's Exchange Fund.

Source: it.investing.com

Rich Dad's Advisors: Guide to Investing In Gold and Silver: Protect Your Financial Future
Book (Business Plus)

American Eagle gold coins sold out after spree

2008-08-21 10:46:22 by NiteCrawlerofTruth

NEW YORK (Reuters) - A buying spree in the popular American Eagle bullion coins appears to have depleted inventory of major North American coin dealers, contributing to supply fears and sharply higher gold prices on Thursday.
Coin dealers in the United States and Canada said buying of gold coins and other bullion products has soared since last week as gold prices tumbled to near a nine-month bottom.
Blanchard and Co., one of the largest U.S. retail dealers of rare coins and precious metals, said the American Eagle and American Buffalo one-ounce gold coins -- novel items among collectors and investors -- are currently sold out

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