This trailblazing trading platform allows retail investors to safely buy and sell gold online.
Gone are the days when gold trading was reserved only for the rich and the privileged. Retail investors can now easily invest in this safe-haven asset with Everest Gold, a groundbreaking online trading platform designed to make gold easily accessible for all.
“With the belief that gold should be able to be easily accessible and be afforded by everyone, the objective of Everest Gold is to allow the mass audience to afford gold without paying high premiums,” explains Everest Gold Spokesperson.
“Everest Gold was established in 2019 to allow the mass audience to invest in gold at affordable prices by lowering the investment entry threshold at 0.01g. With no transaction fees, users can keep 100% of their profits from trading on our platform.”
A transformative business model
Everest Gold is changing gold trading across Singapore and Asia with its state-of-the-art digital platform. In the past, the only channels for gold investment were banks and gold dealers, which were inefficient, time-consuming, and too costly for regular investors.
The only channels for regular investors to purchase gold are banks. The selling price at banks includes a premium over the international gold price. For example, the price of gold commodities is less than US$60 per gram, while the bank price is about US$80 per gram, greatly reducing the actual profit and returns of your investment.
Banks also offer buying rates for gold that are far below the international gold market prices. Investors aim to buy gold at a low price, and sell high, and the added buffer of bank rates on both parts of this equation makes it difficult to profit via this channel. Gold traded on the platform is sold at fairer prices than gold traded in banks. The price of its Everest Gold unit (EGU) is much lower compared to banks.
With a new platform offering transparent and competitive global benchmarked prices and instantaneous gold trading, investors can now enjoy instant profit from gold investment. Everest Gold offers a streamlined interface which makes gold trading easy for all investors, even for those with no trading experience.
“Not only can users buy and sell gold at a way better price to bank physical gold price, Everest Gold users can also enjoy the benefits of high liquidity, fungibility and ease of accessibility of digital gold trading whilst enjoying the benefits of collecting their physical gold should they so wish to,” Spokesperson added.
Gold is typically viewed as a safe-haven asset, with investors turning to gold in times of widespread volatility. The strong appetite for gold was reflected in the many investors who participated in Everest Gold’s launch.
During the three-month beta testing phase from March 6 to June 5 2020, the platform’s transaction volume reached an impressive S$649,673,221. Despite launching the platform during the peak of the Covid-19 pandemic, the total number of downloads still reached almost 100,000.
“With the many downloads from the United States, Malaysia, Philippines, India and United Kingdom, the value of gold clearly does not depreciate proving that demand is still sought after despite the sharp decline in the market's economy,” Spokesperson noted.
Protecting your investment
Everest Gold is a registered company in Singapore and is a licensed gold dealer regulated under the Precious Stone Precious Metal Act 2019 (License no. PS20190001500). To protect users, Everest Gold has entered into a tripartite supervision arrangement with Pacific Trustees Singapore and international vault chain Malca-Amit.
“When retailers purchase gold on the platform, ownership of the gold is transferred to you under the care of gold custodian, Pacific Trustees Singapore. Everest Gold has no authority over the customer's gold assets,” Spokesperson explained.
The platform obtains its gold bars from Metalor Technologies Singapore, a wholly owned subsidiary of Metalor Technologies International SA, the leading worldwide precious metals refiner based in Neuchâtel (Switzerland). This ensures that its gold bars are 999.9 pure investment grade gold. To further protect consumers, Everest Gold has also appointed Crowe Horwath First Trust LLP, a part of the 8th largest global accounting network, to perform independent verification of its gold supply, gold reserves and gold collection, on a quarterly basis, in accordance with Singapore Standard on Related Services. This is to ensure the amount of digital gold issued on the platform is equivalent to the amount of physical gold stored in the vault.
With the Everest Gold mobile app receiving international recognition, Everest Gold plans to open up more offices in other countries to cater to the ever-growing demand to serve its users better.
In line with this year’s National Day celebrations, Everest Gold will be giving 400,000 reward points (worth 55 SGD) for every new-sign up upon successful account verification. Reward points can be converted to gold during Gold Subscription Events. Enter referral code “EAAVZ” when you register your Everest Gold account. Promotion valid from 8 to 31 Aug.
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