Gold Money - Works Perfectly for me
Published: Mon, 01/16/17
Or so I would like to believe. I Am not a Marketer Gold Money but I found it a great way to open an Global Gold holding. RBI guidelines for foreign Investments made by Indians basically said that bank should not market their products in India for opening foreign accounts. The point is that to do so is a choice that you have to make. Naturally they
do not want a rush of currency moving out. I simply opened and an account and found it too easy to use. A scanned passport copy was used to verify you account and they you can use a card of bank transfer to Buy/Redeem the value of your Gold Holding. In fact the site mentions Redemption to Indian banks are within Minutes to Hours, while many other countries
take a day at least. That makes us rather efficient a country. The cost of transaction at 0.5% also appears far lower than from a Jeweller.
Goldmoney.com
So I Googled the ongoing rate for Gold in India and here it is
Gold Rate (in Rs/10 gm)
| Gold Rate | Gold Rate in Mumbai | |
|---|---|---|
| Gold (in Rs /10 gm) | 22-Carat | 28450 |
| 24-Carat | 30427.81 | |
So How much can I buy Gold at on GoldMoney right now?
INR ₹2,640.25/g OR 26400 for 10 grams.
Here is a transaction I made some time back
| Date | January 2, 2017 8:58 AM GMT +05:30 |
| Location | Singapore |
| Description | Gold Purchase (Credit / Debit Card) |
| Amount in Gold | 7.865g Gold |
| Status | Confirmed |
| Historical Basis | ₹20,000.00 (INR) |
| Price per gram | ₹2,542.91 ⁄ g |
You can Also set up a recurring Investment every month and Save Gold.
So If you have not Opened a Gold Money account you can do so here
What about the Quality of the Gold. I found this on the Help section of the website...
''About Our Gold
We buy our gold from an approved list of refiners and assayers whose gold meet the minimum specification set by the London Bullion Market Association (LBMA) or New York Mercantile Exchange division Commodity Exchange, Inc. (COMEX).
What is the quality of gold?
Our Goldmoney Personal and Business Corporate By-Laws require that we must buy or sell assayed and stamped .995 pure (99.5%) or better bullion-grade gold for the benefit of customers from an approved list of refiners and assayers whose gold meet the minimum specification set by the London Bullion Market Association (LBMA) or New York Mercantile Exchange division Commodity Exchange, Inc. (COMEX).''
Goldmoney.com
Because you can start with any small amount you can play around with it and see that it works up to your expectations. I have not found any issues to date and look at it as a great way of getting a gold and dollar exposure at the same time at an affordable rate. Safe and outside the Banking system.Thanks and regards.
The links above give me credit for referring this to you as a customer so do use them for signing up.