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Gold is an immortal, sentimental commodity. Buying, storing and selling real bars of gold instead of digital and paper gold is the most satisfying, but also the most challenging experience. A proper and thoughtful approach will ensure that this does not become an adventure with unknown and unlimited risks.
The gold trading industry is notorious for its vulnerability to swindlers, fraudsters, and counterfeiters. Typical criminal schemes exist, and new methods of crimes are constantly emerging. However, for the savvy investor, not everything that looks strange and exotic is a sign of criminal behavior.
Only physical gold allows a family dynasty to acquire a hidden gold treasure and preserve it for generations. It will survive uncertain times and crises, even catastrophes and revolutions. It is therefore worth giving serious thought to this project and getting started as soon as possible.
Buying gold over-the-counter in the form of doré bars or wafers, gold powder and jewelry from Arab, African, Asian or Latin American locations is very different from buying LBMA (London Bullion Market Association) certified gold bars from Switzerland or London. Both types of gold sourcing have their place, and both have commercially justifiable reasons and applications.
The gold industry has a unique set of business practices and is overlaid with a web of regulations and legal requirements that are difficult to navigate. Trading physical gold requires extensive knowledge and experience. Be it bank-to-bank, ledger-to-ledger, brink-to-bank, cash and carry, Swiss procedures and LBMA standards, FOB & CIF or even more exotic arrangements. It is not only the potential loss of capital that is at stake, but also loss of reputation, involvement in criminal activity, and the risk of becoming a victim of crime.
Gold transactions have standard documents and documentation standards. An essential step is the FCO Full Corporate Offer and its requirements. Relevant elements are regulations, gold laws and especially the so-called Swiss Procedures. Other standards are the LBMA LGD London Good Delivery specification, the DMCC DGD Dubai Good Delivery as certified by the Dubai Multi Commodities Center and the Responsible Jewellery Council Code of Practices, RJC COP. It is also worth knowing and understanding the OECD Sourcing Rules and how to source No-KYC gold in a compliant manner.
Principal-to-principal over-the-counter (OTC) gold trading allows large gold transactions to be executed anonymously. However, OTC markets typically lack a high degree of transparency and expose market participants to credit counterparty risk. High-value gold transactions and their technical, legal and tax implications should be fully understood before taking the first step. Personalized advice on high-value gold transactions is worth its weight in gold.
PUGNATORIUS S.A. offers its services as a gold-experienced independent advisor to international buyers of physical gold. It acts as a trusted wingman during the entire transaction process, as a provider of specific transaction support, as a negotiator and as a point of contact for other participants. More information on the scope of services provided is available upon request.
In regards to acting for the selling side, the consultancy firm has no transactional experience and is not connected to artisanal or small-scale miners (ASM), local brokers, and agents. However, there is a general willingness to represent mining companies, refineries, and other stakeholders in the gold workflow process to facilitate cross-border trade of physical gold.
As an alternative to using the open web form, you can send a fully anonymous and end-to-end encrypted message from a free Protonmail (proton.me) account to email@example.com.
Mark your calendar and save the date to attend the firm's keynote presentations:
(1) April 26, 2023: "The Urgent Need for Crypto Offshoring" at the World Business Growth Conference
(2) May 3, 2023: "Modern Digital Asset Protection Strategies" at the IP and Legal Convex Conference.