FAQs, overviews and a step by step guide.

I wish to educate a few people who are already reading this blog and there is a possibility that you could be unaware with some FAQS about the bullion trade before you do business with me.

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There are many gold-related scams and con-artists working on the internet. These scammers rarely contact us directly. Instead they contact a middle-man who then tries to arrange the deal for them. We get phone calls from these middle-men every week, and almost every one of them who contacts us is intelligent, good at brokering difficult deals, and utterly unaware of how the gold market works.

You're probably certain that your client is genuine, and we hope you're right, but for your own safety please consider the following before contacting us:

• 5 tonnes of gold is a big deal, even for the professional markets. Almost every enquiry over 5 tonnes is from a con-artist. If you are genuine, you can be almost certain that your client is not. If you are certain that your client is genuine, you can be almost certain that their client is not.
• 5 tonnes of gold, at the time of writing, is worth about $150m. Anyone with that much money to spend can walk into any bank in the world and be treated like royalty. They do not need to contact you.
• As at the year 2005, the USA owned 8,133 tonnes of gold. Germany owned 3,412 tonnes. [Source]
  If your client is asking to buy amounts in this range, then they are either Russia, China or a con-artist. Russia and China do not need to contact you.
• One tell-tale sign of an internet scammer is the discount. Typically they will ask for a discount of 6%, which they will offer to split with you. This sounds like a great deal until you realise that there are no discounts in the gold bullion market. The world bullion markets are vastly deep and highly liquid. Nobody sells at a discount because they can already sell as much as they like, whenever they like, at the full price.
  The only people who will offer you a discount on gold bullion are the other scammers who are pretending to sell.
• Most of these scams work by getting the victim to invest a large amount of time and energy setting the deal up. Then, just as it is about to go through, the victim is asked for a few hundred dollars to cover some fictional banking or legal fee. The victim pays because it's small compared to the time they've already spent, and even smaller compared to the profit they hope to gain.
  Internet scammers usually live in very poor countries. It is a fact that some people can work full-time for a year to con just one person out of a few hundred dollars, and consider it a good year's earnings. They can afford to waste everyone's time parting you from your money. When they've done it it's extremely easy for them to disappear.

That said, i Pranaay Katke business entrepreneur based in mumbai claim that i have direct buyers and we are looking for direct sellers who can do business with us at our standard terms and conditions plus the following:

• The seller must verify their identity & proof of stock before dealing.
• The deal will be arranged in Mumbai, typically for two-day settlement.
• No credit will be extended, no matter which institution vouches for it.

If you have checked that your client is happy with these terms then please contact : bombaygoldbullion@gmail.com