Wednesday, August 19, 2009

C-gold Precious Metal Insurers & Gold Bar Redemptions

I have some information regarding which company insures the precious metals at C-gold. The answer to why gold bars are shipped from Canada when they are stored in Malaysia still bewilders me. I posed a question about it & hope to receive a reply about it soon. More about Cgold.

Meanwhile, below are some recent questions & answers regarding insurance & gold bar redemption at C-gold.

So what is the name of the company that insures all the precious metal at C-gold (both clients & c-gold owned)?

Quoted from the Chairman, C-gold representative at Goldage forums:

MAA is the insurer of Cyfro Associates premises, the Penang shop of Commerce Gold. The deal was brokered by MayBank, and includes coverage of the premises, contents, fittings, vault and all gold. We are calling in any additional bailments beyond pre-arranged thresholds, and they adjust the premium accordingly.”

Below is the answer given to me when I mentioned that I misunderstood why one would have to redeem a gold bar in Canada (or shipped from Canada) when the gold is stored in Malaysia. I am expecting more details about it in the future.

Quoted from the Chairman, C-gold representative at Goldage forums:

Canada is earmarked for a franchise, as is the UK, by the way, as well as just over a dozen other countries. We hope to further spread from there.”
“With c-gold you can get a gold bar shipped at no surcharge (shipping and insurance fees only).”

No comments:

My latest images for sale at Shutterstock:

My most popular images for sale at Shutterstock: