Last updated: 5 July 2026.
Capital at Risk
Physical precious metals trading and any related financing arrangement carry a material risk of partial or total loss of the amount committed. You should not commit funds you are not able to bear the full loss of.
Concentration & Counterparty
The program relies on a focused network of sourcing partners, refineries and end buyers. Adverse events affecting one or more of these counterparties can have a disproportionate impact.
Regulatory & Sanctions Risk
Changes in Singapore, UAE, Hong Kong or source-country regulation, including sanctions listings, export duties and licensing, can impair the program's operations without warning. New listings can render inventory or counterparties non-transactable.
Physical & Logistical Risk
Cargo can be lost, damaged or seized in transit or at customs. Insurance may not cover consequential loss or extended delays. Assay disputes at destination can materially reduce recovered value.
Fraud & Substitution Risk
Gold sourced from artisanal and small-scale mining carries documented risks of goods substitution and origin misrepresentation. Notwithstanding the controls described on this website, no set of controls eliminates fraud risk in this segment entirely.
Independent Advice
The risks summarised above are not exhaustive. You are strongly encouraged to obtain independent legal, tax, regulatory and financial advice before making any commitment.