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Thread: The Gold Label - Another Sunshine Empire?

  1. #21
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    Default Re: The Gold Label - Another Sunshine Empire?

    How do you check the gold bars are real, by the time you bring to goldsmith, you have already paid the money right?

  2. #22

    Default Re: The Gold Label - Another Sunshine Empire?

    Good for those in SG who has already made the money. Guess they should hv thousands of pple who bought already. Just wait and see what they all say.

  3. #23

    Default Re: The Gold Label - Another Sunshine Empire?

    Quote Originally Posted by ed9119 View Post
    I heard this scam was run in malaysia too..... people getting gold-plated lead bars instead of solid gold bars

    There are MAS licensed physical gold traders (surprise surprise mostly around Peninsula area) that will gladly sell you different sized Credit Suisse bars at spot London prices plus a small profit mark-up

    So far UOB Bullion is best in both bullion and paper gold certs.......... and Gold ETFs traded in SGX
    Guess what.... The Gold Label Sdn Bhd is alive and well in Malaysia as well.
    http://biz.thestar.com.my/news/story...5&sec=business
    Last edited by zaren; 18th June 2010 at 02:08 AM.

  4. #24

    Default Re: The Gold Label - Another Sunshine Empire?

    Quote Originally Posted by ed9119 View Post
    So lets say I buy at US$1200 an oz. last week and end of 6 months when the world is at peace and gold is back down to US$900 .... I can sell it at US$1200 + 9% ???

    I cannot and will not feel sorry for any person who gets conned in the end

    Your friend who made money.......... she is likely the lucky first few who are early in this Ponzi scheme who actually walks out all profitable ..... and thereby triggering the greed bones amongst the later sucker-masses

    This type of Ponzi and pyramids..... if you are not in the original first couple of layers .... better stand aside .... the lower your level, the more people above you are getting fed
    Very true.... Caveat Emptor.

  5. #25

    Default Re: The Gold Label - Another Sunshine Empire?

    Quote Originally Posted by Prismatic View Post
    How do you check the gold bars are real, by the time you bring to goldsmith, you have already paid the money right?
    that's precisely it, you can't check if it's real, because it is vacuum sealed and you are told that it will "lose" its worth if you break the sealed wrapping. So it could be tungsten filled "gold bars" for all you know....

  6. #26

    Default Re: The Gold Label - Another Sunshine Empire?

    there are mainly two types of investors in this .

    the one who knows exactly whats going on

    the one who does not have a clue
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  7. #27
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    Default Re: The Gold Label - Another Sunshine Empire?

    Quote Originally Posted by Prismatic View Post
    How do you check the gold bars are real, by the time you bring to goldsmith, you have already paid the money right?
    If it is found to be fake, report police immediately and raid the place.. there's good chance can still get money back.. selling fake gold bars as real is cheating and cheating is a criminal offence rite..

    Quote Originally Posted by zaren View Post
    that's precisely it, you can't check if it's real, because it is vacuum sealed and you are told that it will "lose" its worth if you break the sealed wrapping. So it could be tungsten filled "gold bars" for all you know....
    There maybe some kind of non-destructive test? If using X-ray or radiation equipment, the difference in densities of the different layer could be clearly visible..

  8. #28

    Default Re: The Gold Label - Another Sunshine Empire?

    Quote Originally Posted by Limsgp View Post
    If it is found to be fake, report police immediately and raid the place.. there's good chance can still get money back.. selling fake gold bars as real is cheating and cheating is a criminal offence rite..



    There maybe some kind of non-destructive test? If using X-ray or radiation equipment, the difference in densities of the different layer could be clearly visible..
    how many ppl own x-ray or radiation equipment?

  9. #29
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    Default Re: The Gold Label - Another Sunshine Empire?

    Quote Originally Posted by Limsgp View Post
    There maybe some kind of non-destructive test? If using X-ray or radiation equipment, the difference in densities of the different layer could be clearly visible..
    Really? I thought for this you need gamma ray. The normal x-ray is not penetrating enough.

  10. #30

    Default Re: The Gold Label - Another Sunshine Empire?

    Don't think one can get gamma rays in a lab. X-rays can't penetrate more than millimeter thick metal of that density.

    Perhaps a simpe density test?

    I was thinking even the Magnum Ice cream ad with all the 'gold bars'!

  11. #31
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    Default Re: The Gold Label - Another Sunshine Empire?

    Is referring to those certification labs lah..

    What I'm saying is that there could be a non-destructive test out there.. not how to DIY..

    Quote Originally Posted by zaren View Post
    how many ppl own x-ray or radiation equipment?

  12. #32
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    Default Re: The Gold Label - Another Sunshine Empire?

    Quote Originally Posted by zaren View Post
    that's precisely it, you can't check if it's real, because it is vacuum sealed and you are told that it will "lose" its worth if you break the sealed wrapping. So it could be tungsten filled "gold bars" for all you know....
    Quote Originally Posted by *********** View Post
    Don't think one can get gamma rays in a lab. X-rays can't penetrate more than millimeter thick metal of that density.

    Perhaps a simpe density test?
    The problem, as mentioned, is that it is sealed. The measured density of the package could be lower than that of pure gold and they can attribute it to the packaging.

  13. #33
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    Default Re: The Gold Label - Another Sunshine Empire?

    Quote Originally Posted by aryanto View Post
    Really? I thought for this you need gamma ray. The normal x-ray is not penetrating enough.
    You want to invest in radioactive gold bars?
    Quote Originally Posted by Limsgp View Post
    Is referring to those certification labs lah..

    What I'm saying is that there could be a non-destructive test out there.. not how to DIY..
    I supposed the purity of the gold bars can be verified through nondestructive electromagnetic testing methodology, possibly with eddy-current for example.
    Last edited by 9V-Orion Images; 18th June 2010 at 12:16 PM.
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  14. #34
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    Default Re: The Gold Label - Another Sunshine Empire?

    The testing is beside the point. If you have to test it yourself it means that you would have already paid the money. If they turn out to be frauds, they would have a lot of chances to run already. If it was a genuine investment, what they should have done is get some metallurgic lab to test then issue some form of certicates like GIA for diamonds. Then even if the bars turn out to be fake, the lab will be at liability.

    It sounds a bit fishy to me lah, why would you even need to vaccum seal gold bars? Gold is already quite chemically inert. You dun see them vaccum packing the big gold bars in the vaults right?

    The amount of people who have signed up to the scheme shouldn't even be a factor to consider if you are thinking about investing. If the scheme turns out to be a fraud, it only means there are more victims. The nature of the investment and it's sustainability should be the prime and only consideration.

  15. #35
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    Default Re: The Gold Label - Another Sunshine Empire?

    If the gold bars can be fake, and they actually put in the effort to produce a cert for the bars.. 100% the cert will be fake as well.

    If you paid and get the bars today, then test it within the next few days.. chances are they are still fishing for more victims and have not run yet.. If you wait a few months or years then test.. then different story lah.. probably it'll appear in the news before you test.

    Quote Originally Posted by Prismatic View Post
    The testing is beside the point. If you have to test it yourself it means that you would have already paid the money. If they turn out to be frauds, they would have a lot of chances to run already. If it was a genuine investment, what they should have done is get some metallurgic lab to test then issue some form of certicates like GIA for diamonds. Then even if the bars turn out to be fake, the lab will be at liability.

  16. #36
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    Default Re: The Gold Label - Another Sunshine Empire?

    Quote Originally Posted by Prismatic View Post
    ......, why would you even need to vaccum seal gold bars? Gold is already quite chemically inert. You dun see them vaccum packing the big gold bars in the vaults right?

    they seal it because they dont want anyone to assay or test its contents....... ONCE THE SEAL IS BROKEN ..... Gold Label can ACCUSE you of swapping their 'real' bars with fake ones thereby absolving themselves of fraud claims against them
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  17. #37

    Default Re: The Gold Label - Another Sunshine Empire?

    Quote Originally Posted by ed9119 View Post
    ONCE THE SEAL IS BROKEN ..... Gold Label can ACCUSE you of swapping their 'real' bars with fake ones thereby absolving themselves of fraud claims against them
    That's what I have in mind too.

    Also, it was reported in the news few months back that in CN, people purchased gold bars (can't remember the reason) and later found that it was lead inside the gold coating.
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  18. #38
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    Default Re: The Gold Label - Another Sunshine Empire?

    Quote Originally Posted by ed9119 View Post
    they seal it because they dont want anyone to assay or test its contents....... ONCE THE SEAL IS BROKEN ..... Gold Label can ACCUSE you of swapping their 'real' bars with fake ones thereby absolving themselves of fraud claims against them
    So there you have it , given the lack of transparency and security in the transaction, as well as the vagueness of their ROI, how it can even be considered an investment is really mind boggling. If you really want to invest in gold, I would think buying a gold based ETF will be a more convenient choice.
    Last edited by Prismatic; 18th June 2010 at 04:05 PM.

  19. #39
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    Default Re: The Gold Label - Another Sunshine Empire?

    But if someone test it and then make a police report, they can investigate right..

    Send one plain cloth to buy the gold bars, then test it. Then with the "evidence", get search warrant to raid the place and also to contact all victims.... then do a check on all the gold bars..

    see how are they going to talk their way out..

    of course there got to be a hero to be the first to test the gold bars for this to work.... Anyway, if it is real gold there's nothing to loss too.. after all, real gold does have it's worth.


    Quote Originally Posted by ed9119 View Post
    they seal it because they dont want anyone to assay or test its contents....... ONCE THE SEAL IS BROKEN ..... Gold Label can ACCUSE you of swapping their 'real' bars with fake ones thereby absolving themselves of fraud claims against them

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