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Ellen
Ellen, Consultant
Category: General
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Experience:  attorney and legal researcher
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Gold Bullion trading, I would like to buy gold bullion from

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Gold Bullion trading,

I would like to buy gold bullion from Perth Mint and sell it in Dubai. I plan to do this by using the banking system with a cash backed bank guarantee so that the gold will be bought on spot rate when I sell it in the local market.

Are there any pitfalls I should be aware off?
Is this even feasible?
Hello,

Thank you for your question. My name is XXXXX XXXXX I will do whatever I can to answer your questions!

Typically one would avoid the inherent risk of loss associated with storing and transporting gold by avoiding taking actual physical possession. This can be accomplished by storing the purchased gold bullion at the Perth Mint Depository and then selling the gold bullion in Dubai.

I would be glad to continue our conversation and respond to any follow-up questions that you may have.

Hello,

Is there anything else that I can assist you with? Have I answered your question?
Customer: replied 3 years ago.

Hi,


 


The concept I was inquiring about was to be set up so that the risk will be mitigated. You see the gold would be sold on spot rate so I am not at risk untill the transaction actually occures. Bringing the physical gold to market can get me a premium which is what Im after.

Thanks for the response. This is possible. Of course the main risk is theft during transport.

Customer: replied 3 years ago.

Can you recommend where I can find expertiese to develop a buisness model for this project?


Your concept is truly unique. As such, it is very unlikely that you will find a business model. Professional gold traders do not bring the physical gold to market. Please let me know how it works out
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