New gold contracts in the Singapore Gold Exchange
Already next month Singapore Exchange Ltd. (SGX) will offer a new kind of trade contracts under which it will be possible to buy a pack of gold kilobars with the total weight of 25 kg.
Every pack consists of 25 bars of the same brand. Pure gold bars will be coined and sealed at the refinery, which are in the list of LBMA, the London Association of the precious metals market. The pack will be sealed by an approved operator of the depository in order to protect it against tampering.
According to the portal Mining.com, this type of contract will be a new and first of its kind since the SGX joined other countries of the largest consumers in order to give impetus to the new benchmarks on the price of gold.
In a joint press release, members of the new project: International Enterprise Singapore, the SBMA, Singapore Exchange and the World Gold Council noted that the contract will be offered worldwide, because it is based on a centralized gold market in kilobars. The contracts meet the conditions of transparency in gold prices, daily deliveries and reliable control of the gold quality.
It should be added that after the abolition of taxes on goods and services associated with precious metals in 2012, the volume of sales significantly increased in Singapore.
The online store of the Emgoldex company offers investment gold bars of the world's best manufacturers. All the bars are packed and sealed in a hermetic pack and have certificate of quality. The company's clients have complete trust in the company, this fact is confirmed by the growing number of customers all over the world. Moreover, gold bars are available at the most profitable gold price.
Category: Gold news Publication date: 2014-10-21 09:15
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