There are a number of companies operating in our market that do not conduct business in a fair and transparent manner. These are companies whose selling prices in our market are lower than in the countries they originate from and lower than in other markets where they operate. Such companies are not fair toward other participants in our market, toward potential investors, toward the general public interest, or toward the country in which they operate.
At first glance, they may appear attractive to potential investors who do not conduct detailed research. However, when the time comes to convert gold back into cash, such companies often offer buyback prices significantly below market value. At that point, clients who placed their trust in them realize that they have been misled during the second stage of the business relationship.
The general public interest requires that companies operating within a certain territory conduct business in accordance with positive business practices, contribute to market development, create benefits for customers, support favorable investment conditions, and generate new economic value.
However, such companies often operate at a loss, report negative financial results, and provide no real economic benefit to the state through tax revenues or socially responsible business practices.
Advice to all investors:
Before deciding which company to trust, make sure to analyze publicly available financial statements of those companies. When a company generates significant revenue but reports a negative business result, it most likely indicates unfair business practices — both toward customers during the buyback process and toward the state itself.
It is not uncommon for such companies to leave the market very quickly once the market recognizes and reacts negatively to unfair business conduct.
Prices should always be compared with prices in neighboring countries. Prices do not have to be identical, but they should be very similar. The reason lies in comparable geographical logistics costs and other related expenses connected with the physical delivery of gold.
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