Connect with us

Featured

Thailand’s Gold Traders’ Association : beware of scam on gold investment

Avatar

Published

on

Thailand’s Gold Traders’ Association has issued a warning to the public to be aware of shady companies persuading people to invest in buying gold on the spot or futures markets overseas.

Loading...

Jitti Tangsitpakdi, president of the association, said many scam gold trading firms have been established and deceived people to invest in the gold spot market or in the futures market.

Many deceived investors have filed complaints with the association and the Securities and Exchange Commission (SEC) and the two agencies along with police economic investigators have apprehended a number of people working for such firms in the past, Mr Jitti said.

Such people periodically close their fraudulent businesses and then open new firms elsewhere to escape arrest, he said.

via Investors warned of bogus foreign gold investment firms.

Stock markets have traditionally been volatile. Though many make an earning out of share markets and the return on investment is often very attractive, there have been instances when a person lost all his money overnight in the share market. Same is the case with the currency market which has seen a lot of boom in the last few years. Profits are good, but the losses are even bigger. So, investing in gold is very prudent and though the returns may be slow, you will never lose your money if you invest in gold. Gold is never old, and it is very liquid. At any time, you can encash it.

During the last major bull market for gold the 1970’s, scam artists abounded. It only makes sense that they are back for more. The crooks of today have a new tool at their disposal to lure unsuspecting victims: the internet. Although the safeguards put in place are far more sophisticated, scam artists have always been able to keep up with the changes. The more regulated the means of security taken, the more ingenious the hackers, criminals, and scammers show themselves to be.

If the company you are considering is never mentioned by reputable sources, seek out another gold dealer or investment firm that is. Your safest bet would be to deal only with a well-established Wall Street firm that’s thoroughly regulated and insured.

The best scams appear to be clever ideas and great business opportunities on the surface. Professional-looking individuals well-versed in the art of sales have a carefully constructed pitch waiting for you. The goal is to come off as legitimate as possible, seeking inspiration from those who are.

Gold scams come in many flavors, from buying fake gold mines to buying non-existent gold bars. Bullion scams have a pattern in that many involve offshore gold stashed in remote places, in Swiss vaults, or straight from mines in South Africa. The gold being sold may be described as 99.9% pure gold bars, coins, powder, refined, unrefined, or etcetera.

China

Bangkok 7th World Most connected city to China

Bangkok also ranks 3rd in terms of the volume of Chinese corporate leasing activity over the last three years, according to a new report from real estate consulting firm JLL.

Daniel Lorenzzo

Published

on

While China’s biggest corporates are increasingly flexing their global muscle as the country’s economic and geopolitical influence accelerates, Bangkok is the 10th most popular destination for mainland firms expanding overseas. (more…)

Loading...

Continue Reading

Featured

Thailand’s Special Economic Zones (SEZ) and new opportunity connected

The SEZ policy was first launched in 2015 based on the government’s belief in the strong potential of the 10 areas to connect with the neighboring countries in terms of trade, economy and investment

Avatar

Published

on

By

With its strategic location in the center of ASEAN with emerging markets, including Cambodia, Laos, Myanmar, Malaysia and southern China, on its border, Thailand is well position to connect investors to new opportunities arising from the increasing border trade and the region’s rapid economic growth.
(more…)

Loading...

Continue Reading

Banking

Decrypting the Crypto Bubble : China Ban Vs. Thailand’s cautious welcome

ICO has gained popularity among tech startups as a convenient and timely way to access funding. In the past few months, ICO has grown exponentially and has surpassed early stage venture capital funding

Olivier Languepin

Published

on

Twenty years ago, day trading was the great new pastime for Americans, all of them tuned to the financial news and reports on the day’s newest crop of IPOs. (more…)

Loading...

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,965 other subscribers

Latest

Trending