Mark Pey

June 30, 2020

With the collapse of banking provider Wirecard, it's worth revisiting the benefits of actually owning gold versus owning “paper gold” derivatives like ETFs.

Last week, the multi-billion dollar German banking provider, Wirecard, suddenly and dramatically collapsed and their CEO was arrested. The Wirecard board said, “There is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion euros (AUD $3.1 billion) do not exist."

In the Wirecard case, the trouble began to come to light when The Financial Times reported doubts about the complexity of the company’s accounting. The powerful top German regulator, BaFin, threatened to sue the FT for libel. Now, the top European regulator is investigating BaFin themselves and a class action lawsuit against Wirecard’s auditor, Ernst & Young, has been filed.

At SendGold, we have long held that the best way to own gold, whose function at the end of the day is to protect wealth through any and all financial market scenarios, is through individual outright ownership of physical gold metal, full stop. The reason we have structured our company this way is because complexity is the enemy of security, and we believe this is the simplest and most secure structure.

The structure of Wirecard was so complex that neither the regulator nor the auditor could reliably determine its ongoing soundness. We think customers should apply a similar "simplicity" (and transparency) acid test to owning paper gold derivatives like ETFs:

  • ETFs are shares. This means they are owned by the broker-dealer in what’s called “street name”, and the broker-dealer owes the value of the shares to customers. To repeat: The broker-dealer owns the shares.
  • Underneath this ETF share structure, there can be a number of subsidiary legal arrangements from different counterparts including “sponsors”, “marketing agents”, “authorised participants”, “custodians”, “sub-custodians”, and even “sub-sub custodians”.
  • Amazingly, in the case of the largest gold ETF GLD, these arrangements are not even covered by written contracts, monitoring, or insurance. We discussed the details of this in a prior blog post: https://www.sendgold.com/gold-etf-it-always-pays-to-read-the-fine-print/

We are all still figuring out what post-Covid-19 life will be like but a few trends seem to be emerging. People are seeking to simplify their lives and seek greater transparency from their financial providers and their relationships.

With financial and economic risks on the rise and headlines like Wirecard appearing, people want to protect what they have by knowing that they actually own it, no matter what the next news headline might reveal.

  NEW! Invest in Gold with your SMSF What’s going on with the price of gold in Australian dollars? Volt Bank’s Maria Loyez joins SendGold as Chief Customer Experience Advisor  

Download our new app now and BUY 100% title to GOLD in minutes


Mark Pey

June 30, 2020

With the collapse of banking provider Wirecard, it's worth revisiting the benefits of actually owning gold versus owning “paper gold” derivatives like ETFs.

Last week, the multi-billion dollar German banking provider, Wirecard, suddenly and dramatically collapsed and their CEO was arrested. The Wirecard board said, “There is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion euros (AUD $3.1 billion) do not exist."

In the Wirecard case, the trouble began to come to light when The Financial Times reported doubts about the complexity of the company’s accounting. The powerful top German regulator, BaFin, threatened to sue the FT for libel. Now, the top European regulator is investigating BaFin themselves and a class action lawsuit against Wirecard’s auditor, Ernst & Young, has been filed.

At SendGold, we have long held that the best way to own gold, whose function at the end of the day is to protect wealth through any and all financial market scenarios, is through individual outright ownership of physical gold metal, full stop. The reason we have structured our company this way is because complexity is the enemy of security, and we believe this is the simplest and most secure structure.

The structure of Wirecard was so complex that neither the regulator nor the auditor could reliably determine its ongoing soundness. We think customers should apply a similar "simplicity" (and transparency) acid test to owning paper gold derivatives like ETFs:

  • ETFs are shares. This means they are owned by the broker-dealer in what’s called “street name”, and the broker-dealer owes the value of the shares to customers. To repeat: The broker-dealer owns the shares.
  • Underneath this ETF share structure, there can be a number of subsidiary legal arrangements from different counterparts including “sponsors”, “marketing agents”, “authorised participants”, “custodians”, “sub-custodians”, and even “sub-sub custodians”.
  • Amazingly, in the case of the largest gold ETF GLD, these arrangements are not even covered by written contracts, monitoring, or insurance. We discussed the details of this in a prior blog post: https://www.sendgold.com/gold-etf-it-always-pays-to-read-the-fine-print/

We are all still figuring out what post-Covid-19 life will be like but a few trends seem to be emerging. People are seeking to simplify their lives and seek greater transparency from their financial providers and their relationships.

With financial and economic risks on the rise and headlines like Wirecard appearing, people want to protect what they have by knowing that they actually own it, no matter what the next news headline might reveal.

  NEW! Invest in Gold with your SMSF What’s going on with the price of gold in Australian dollars? Volt Bank’s Maria Loyez joins SendGold as Chief Customer Experience Advisor  

Download our new app now and BUY 100% title to GOLD in minutes


SendGold

June 11, 2020

According to the latest Australian Taxation Office statistics, more than 1.1 million Australians are members of self-managed super funds (SMSFs) - attracted by the freedom to choose and manage their own super investments. The number has been steadily increasing for several years, as has the average individual members and overall fund balance. So it’s no surprise that one of the most requested developments from our customers is the ability to invest in gold with an SMSF, to diversify and protect their superannuation and retirement investments. We try to take your ideas and make them happen, and we’re excited to announce that we’ve now launched business accounts so you can invest with SendGold using your SMSF, Trust, Partnership or Company account. It’s simple to do :

  • Register your details
  • We’ll be in touch to get the required documentation
  • Download the app in your business name and invest in gold!
Of course, customers are buying gold with their SMSF for the same reasons why they’re buying gold in individual investments:
  • Gold continues to produce short, medium and long-term returns better than other asset classes.
  • Gold delivers its strongest returns when interest rates are low.
  • Gold is a proven hedge in times of crisis and this is when we see central banks, funds and individuals increase their gold holdings to preserve wealth.
  • The value of gold is uncorrelated to other assets classes such as shares, property or cash and so provides balance to portfolio returns.
  • Gold is a hedge against falling currencies.
  • Gold is one of the world’s most liquid assets, its daily market exceeding that of the S&P 500. It can always be bought or sold within the global market.
We created SendGold to make it easier for everyone to buy gold, but we know that SMSFs aren’t everyone’s cup of tea. If you don’t have an SMSF but have friends that do, next time they talk about it over dinner, invite them to use SendGold and you could earn gold on their first purchase. When they buy AUD 50 worth of gold, we’ll give you both a reward of G10 ( 100 mg) of pure gold. It’s simple to invite friends from within our app. and a win-win!   What’s going on with the price of gold in Australian dollars? Volt Bank’s Maria Loyez joins SendGold as Chief Customer Experience Advisor Finding certainty and sticking to fundamentals during the Covid-19 crisis  

Download our new app now and BUY 100% title to GOLD in minutes


Mark Pey

June 30, 2020

With the collapse of banking provider Wirecard, it's worth revisiting the benefits of actually owning gold versus owning “paper gold” derivatives like ETFs.

Last week, the multi-billion dollar German banking provider, Wirecard, suddenly and dramatically collapsed and their CEO was arrested. The Wirecard board said, “There is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion euros (AUD $3.1 billion) do not exist."

In the Wirecard case, the trouble began to come to light when The Financial Times reported doubts about the complexity of the company’s accounting. The powerful top German regulator, BaFin, threatened to sue the FT for libel. Now, the top European regulator is investigating BaFin themselves and a class action lawsuit against Wirecard’s auditor, Ernst & Young, has been filed.

At SendGold, we have long held that the best way to own gold, whose function at the end of the day is to protect wealth through any and all financial market scenarios, is through individual outright ownership of physical gold metal, full stop. The reason we have structured our company this way is because complexity is the enemy of security, and we believe this is the simplest and most secure structure.

The structure of Wirecard was so complex that neither the regulator nor the auditor could reliably determine its ongoing soundness. We think customers should apply a similar "simplicity" (and transparency) acid test to owning paper gold derivatives like ETFs:

  • ETFs are shares. This means they are owned by the broker-dealer in what’s called “street name”, and the broker-dealer owes the value of the shares to customers. To repeat: The broker-dealer owns the shares.
  • Underneath this ETF share structure, there can be a number of subsidiary legal arrangements from different counterparts including “sponsors”, “marketing agents”, “authorised participants”, “custodians”, “sub-custodians”, and even “sub-sub custodians”.
  • Amazingly, in the case of the largest gold ETF GLD, these arrangements are not even covered by written contracts, monitoring, or insurance. We discussed the details of this in a prior blog post: https://www.sendgold.com/gold-etf-it-always-pays-to-read-the-fine-print/

We are all still figuring out what post-Covid-19 life will be like but a few trends seem to be emerging. People are seeking to simplify their lives and seek greater transparency from their financial providers and their relationships.

With financial and economic risks on the rise and headlines like Wirecard appearing, people want to protect what they have by knowing that they actually own it, no matter what the next news headline might reveal.

  NEW! Invest in Gold with your SMSF What’s going on with the price of gold in Australian dollars? Volt Bank’s Maria Loyez joins SendGold as Chief Customer Experience Advisor  

Download our new app now and BUY 100% title to GOLD in minutes


SendGold

June 11, 2020

According to the latest Australian Taxation Office statistics, more than 1.1 million Australians are members of self-managed super funds (SMSFs) - attracted by the freedom to choose and manage their own super investments. The number has been steadily increasing for several years, as has the average individual members and overall fund balance. So it’s no surprise that one of the most requested developments from our customers is the ability to invest in gold with an SMSF, to diversify and protect their superannuation and retirement investments. We try to take your ideas and make them happen, and we’re excited to announce that we’ve now launched business accounts so you can invest with SendGold using your SMSF, Trust, Partnership or Company account. It’s simple to do :

  • Register your details
  • We’ll be in touch to get the required documentation
  • Download the app in your business name and invest in gold!
Of course, customers are buying gold with their SMSF for the same reasons why they’re buying gold in individual investments:
  • Gold continues to produce short, medium and long-term returns better than other asset classes.
  • Gold delivers its strongest returns when interest rates are low.
  • Gold is a proven hedge in times of crisis and this is when we see central banks, funds and individuals increase their gold holdings to preserve wealth.
  • The value of gold is uncorrelated to other assets classes such as shares, property or cash and so provides balance to portfolio returns.
  • Gold is a hedge against falling currencies.
  • Gold is one of the world’s most liquid assets, its daily market exceeding that of the S&P 500. It can always be bought or sold within the global market.
We created SendGold to make it easier for everyone to buy gold, but we know that SMSFs aren’t everyone’s cup of tea. If you don’t have an SMSF but have friends that do, next time they talk about it over dinner, invite them to use SendGold and you could earn gold on their first purchase. When they buy AUD 50 worth of gold, we’ll give you both a reward of G10 ( 100 mg) of pure gold. It’s simple to invite friends from within our app. and a win-win!   What’s going on with the price of gold in Australian dollars? Volt Bank’s Maria Loyez joins SendGold as Chief Customer Experience Advisor Finding certainty and sticking to fundamentals during the Covid-19 crisis  

Download our new app now and BUY 100% title to GOLD in minutes


Mark Pey

June 4, 2020

On 15 March the price of an ounce of gold in U. S. dollars was $1501.25, today (4 June) it is $1710.50, a change of around + 14%.

On 15 March the price of an ounce of gold in Australian dollars was $2451.20, today it is $2460.25, a change of just 3/10ths of 1 %.

The difference between the two is simply the difference in the value of the currencies that gold is quoted in.

On 15 March the Australian dollar was worth $0.57 U.S. cents, today it is worth $0.69 U.S. cents, a difference of +21% (you can see this move on the far right end of the currency chart below).

This move has been fairly sudden and has brought us closer to the trend line, so gold prices in AUD should be expected to move in closer lockstep with gold priced in other currencies going forward.

It’s worth noting that despite the large rally in the AUD, gold has very recently reached all-time highs in many currencies, including the Australian dollar. Many analysts expect that once the all-time U.S. dollar price of $1917 per ounce is reached then the next leg of the gold bull market will begin.

  Bringing gold to the digital age - Interview on ausbiz Gold Price and the Ongoing Covid-19 Crisis, April 22 Update – Part 2 of 2 SendGold Update – Ramping up Services as Gold Demand Skyrockets  

Download our new app now and BUY 100% title to GOLD in minutes


Mark Pey

June 30, 2020

With the collapse of banking provider Wirecard, it's worth revisiting the benefits of actually owning gold versus owning “paper gold” derivatives like ETFs.

Last week, the multi-billion dollar German banking provider, Wirecard, suddenly and dramatically collapsed and their CEO was arrested. The Wirecard board said, “There is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion euros (AUD $3.1 billion) do not exist."

In the Wirecard case, the trouble began to come to light when The Financial Times reported doubts about the complexity of the company’s accounting. The powerful top German regulator, BaFin, threatened to sue the FT for libel. Now, the top European regulator is investigating BaFin themselves and a class action lawsuit against Wirecard’s auditor, Ernst & Young, has been filed.

At SendGold, we have long held that the best way to own gold, whose function at the end of the day is to protect wealth through any and all financial market scenarios, is through individual outright ownership of physical gold metal, full stop. The reason we have structured our company this way is because complexity is the enemy of security, and we believe this is the simplest and most secure structure.

The structure of Wirecard was so complex that neither the regulator nor the auditor could reliably determine its ongoing soundness. We think customers should apply a similar "simplicity" (and transparency) acid test to owning paper gold derivatives like ETFs:

  • ETFs are shares. This means they are owned by the broker-dealer in what’s called “street name”, and the broker-dealer owes the value of the shares to customers. To repeat: The broker-dealer owns the shares.
  • Underneath this ETF share structure, there can be a number of subsidiary legal arrangements from different counterparts including “sponsors”, “marketing agents”, “authorised participants”, “custodians”, “sub-custodians”, and even “sub-sub custodians”.
  • Amazingly, in the case of the largest gold ETF GLD, these arrangements are not even covered by written contracts, monitoring, or insurance. We discussed the details of this in a prior blog post: https://www.sendgold.com/gold-etf-it-always-pays-to-read-the-fine-print/

We are all still figuring out what post-Covid-19 life will be like but a few trends seem to be emerging. People are seeking to simplify their lives and seek greater transparency from their financial providers and their relationships.

With financial and economic risks on the rise and headlines like Wirecard appearing, people want to protect what they have by knowing that they actually own it, no matter what the next news headline might reveal.

  NEW! Invest in Gold with your SMSF What’s going on with the price of gold in Australian dollars? Volt Bank’s Maria Loyez joins SendGold as Chief Customer Experience Advisor  

Download our new app now and BUY 100% title to GOLD in minutes


SendGold

June 11, 2020

According to the latest Australian Taxation Office statistics, more than 1.1 million Australians are members of self-managed super funds (SMSFs) - attracted by the freedom to choose and manage their own super investments. The number has been steadily increasing for several years, as has the average individual members and overall fund balance. So it’s no surprise that one of the most requested developments from our customers is the ability to invest in gold with an SMSF, to diversify and protect their superannuation and retirement investments. We try to take your ideas and make them happen, and we’re excited to announce that we’ve now launched business accounts so you can invest with SendGold using your SMSF, Trust, Partnership or Company account. It’s simple to do :

  • Register your details
  • We’ll be in touch to get the required documentation
  • Download the app in your business name and invest in gold!
Of course, customers are buying gold with their SMSF for the same reasons why they’re buying gold in individual investments:
  • Gold continues to produce short, medium and long-term returns better than other asset classes.
  • Gold delivers its strongest returns when interest rates are low.
  • Gold is a proven hedge in times of crisis and this is when we see central banks, funds and individuals increase their gold holdings to preserve wealth.
  • The value of gold is uncorrelated to other assets classes such as shares, property or cash and so provides balance to portfolio returns.
  • Gold is a hedge against falling currencies.
  • Gold is one of the world’s most liquid assets, its daily market exceeding that of the S&P 500. It can always be bought or sold within the global market.
We created SendGold to make it easier for everyone to buy gold, but we know that SMSFs aren’t everyone’s cup of tea. If you don’t have an SMSF but have friends that do, next time they talk about it over dinner, invite them to use SendGold and you could earn gold on their first purchase. When they buy AUD 50 worth of gold, we’ll give you both a reward of G10 ( 100 mg) of pure gold. It’s simple to invite friends from within our app. and a win-win!   What’s going on with the price of gold in Australian dollars? Volt Bank’s Maria Loyez joins SendGold as Chief Customer Experience Advisor Finding certainty and sticking to fundamentals during the Covid-19 crisis  

Download our new app now and BUY 100% title to GOLD in minutes


Mark Pey

June 4, 2020

On 15 March the price of an ounce of gold in U. S. dollars was $1501.25, today (4 June) it is $1710.50, a change of around + 14%.

On 15 March the price of an ounce of gold in Australian dollars was $2451.20, today it is $2460.25, a change of just 3/10ths of 1 %.

The difference between the two is simply the difference in the value of the currencies that gold is quoted in.

On 15 March the Australian dollar was worth $0.57 U.S. cents, today it is worth $0.69 U.S. cents, a difference of +21% (you can see this move on the far right end of the currency chart below).

This move has been fairly sudden and has brought us closer to the trend line, so gold prices in AUD should be expected to move in closer lockstep with gold priced in other currencies going forward.

It’s worth noting that despite the large rally in the AUD, gold has very recently reached all-time highs in many currencies, including the Australian dollar. Many analysts expect that once the all-time U.S. dollar price of $1917 per ounce is reached then the next leg of the gold bull market will begin.

  Bringing gold to the digital age - Interview on ausbiz Gold Price and the Ongoing Covid-19 Crisis, April 22 Update – Part 2 of 2 SendGold Update – Ramping up Services as Gold Demand Skyrockets  

Download our new app now and BUY 100% title to GOLD in minutes


SendGold

June 4, 2020

We are delighted to announce the appointment of Maria Loyez as Chief Customer Experience Advisor. SendGold CEO Jodi Stanton states, “We could not be happier to have Maria on board to help further develop and drive our AI-powered customer experience program as we formally launch SendGold on a global scale. She brings a unique insight into the overlay of intelligent marketing, marketing technology stacks, and commercial problem-solving. The timing could not be better with our 648% growth in gold demand since January.” Maria is no stranger to challenger banking. She is an award-winning marketing heavyweight in fintech. Her roles have included Chief Customer Officer at Volt Bank, Chief Marketing Officer at P2P lender SocietyOne, Chief Marketing Officer at OFX (formerly OzForex) and lead marketing with Virgin, AMP, and Optus. Maria was named Marketing Professional of the Year in the Women in Finance awards in 2018. Maria has hit the ground running as we gear up for our formal global business launch and Series A fundraise. A heartfelt welcome to Maria from the entire, growing, SendGold team! About our Advisory Board Maria joins our Advisory Board comprised of a strong bench of long term members.

  • Ken Chapman is Head of Debt Capital Markets at the Australian Stock Exchange and leads initiatives aimed at broadening the ASX investment product offering.
  • Monique Miller is Senior Vice President responsible for investment strategy and investment process at Euclidean Capital, a New York-based family office.
  • Christopher Chong, ACH, a corporate and financial advisor to companies, governments and leading Asian families.
  • Stuart Thomas is General Counsel and Company Secretary of Network Ten.
  • Steve Wilson, a globally recognised leader in data protection.
Read more about our Advisors Bringing gold to the digital age - Interview on ausbiz Gold Price and the Ongoing Covid-19 Crisis, April 22 Update – Part 2 of 2 SendGold Update – Ramping up Services as Gold Demand Skyrockets

Download our new app now and BUY 100% title to GOLD in minutes


Mark Pey

June 30, 2020

With the collapse of banking provider Wirecard, it's worth revisiting the benefits of actually owning gold versus owning “paper gold” derivatives like ETFs.

Last week, the multi-billion dollar German banking provider, Wirecard, suddenly and dramatically collapsed and their CEO was arrested. The Wirecard board said, “There is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion euros (AUD $3.1 billion) do not exist."

In the Wirecard case, the trouble began to come to light when The Financial Times reported doubts about the complexity of the company’s accounting. The powerful top German regulator, BaFin, threatened to sue the FT for libel. Now, the top European regulator is investigating BaFin themselves and a class action lawsuit against Wirecard’s auditor, Ernst & Young, has been filed.

At SendGold, we have long held that the best way to own gold, whose function at the end of the day is to protect wealth through any and all financial market scenarios, is through individual outright ownership of physical gold metal, full stop. The reason we have structured our company this way is because complexity is the enemy of security, and we believe this is the simplest and most secure structure.

The structure of Wirecard was so complex that neither the regulator nor the auditor could reliably determine its ongoing soundness. We think customers should apply a similar "simplicity" (and transparency) acid test to owning paper gold derivatives like ETFs:

  • ETFs are shares. This means they are owned by the broker-dealer in what’s called “street name”, and the broker-dealer owes the value of the shares to customers. To repeat: The broker-dealer owns the shares.
  • Underneath this ETF share structure, there can be a number of subsidiary legal arrangements from different counterparts including “sponsors”, “marketing agents”, “authorised participants”, “custodians”, “sub-custodians”, and even “sub-sub custodians”.
  • Amazingly, in the case of the largest gold ETF GLD, these arrangements are not even covered by written contracts, monitoring, or insurance. We discussed the details of this in a prior blog post: https://www.sendgold.com/gold-etf-it-always-pays-to-read-the-fine-print/

We are all still figuring out what post-Covid-19 life will be like but a few trends seem to be emerging. People are seeking to simplify their lives and seek greater transparency from their financial providers and their relationships.

With financial and economic risks on the rise and headlines like Wirecard appearing, people want to protect what they have by knowing that they actually own it, no matter what the next news headline might reveal.

  NEW! Invest in Gold with your SMSF What’s going on with the price of gold in Australian dollars? Volt Bank’s Maria Loyez joins SendGold as Chief Customer Experience Advisor  

Download our new app now and BUY 100% title to GOLD in minutes


SendGold

June 11, 2020

According to the latest Australian Taxation Office statistics, more than 1.1 million Australians are members of self-managed super funds (SMSFs) - attracted by the freedom to choose and manage their own super investments. The number has been steadily increasing for several years, as has the average individual members and overall fund balance. So it’s no surprise that one of the most requested developments from our customers is the ability to invest in gold with an SMSF, to diversify and protect their superannuation and retirement investments. We try to take your ideas and make them happen, and we’re excited to announce that we’ve now launched business accounts so you can invest with SendGold using your SMSF, Trust, Partnership or Company account. It’s simple to do :

  • Register your details
  • We’ll be in touch to get the required documentation
  • Download the app in your business name and invest in gold!
Of course, customers are buying gold with their SMSF for the same reasons why they’re buying gold in individual investments:
  • Gold continues to produce short, medium and long-term returns better than other asset classes.
  • Gold delivers its strongest returns when interest rates are low.
  • Gold is a proven hedge in times of crisis and this is when we see central banks, funds and individuals increase their gold holdings to preserve wealth.
  • The value of gold is uncorrelated to other assets classes such as shares, property or cash and so provides balance to portfolio returns.
  • Gold is a hedge against falling currencies.
  • Gold is one of the world’s most liquid assets, its daily market exceeding that of the S&P 500. It can always be bought or sold within the global market.
We created SendGold to make it easier for everyone to buy gold, but we know that SMSFs aren’t everyone’s cup of tea. If you don’t have an SMSF but have friends that do, next time they talk about it over dinner, invite them to use SendGold and you could earn gold on their first purchase. When they buy AUD 50 worth of gold, we’ll give you both a reward of G10 ( 100 mg) of pure gold. It’s simple to invite friends from within our app. and a win-win!   What’s going on with the price of gold in Australian dollars? Volt Bank’s Maria Loyez joins SendGold as Chief Customer Experience Advisor Finding certainty and sticking to fundamentals during the Covid-19 crisis  

Download our new app now and BUY 100% title to GOLD in minutes


Mark Pey

June 4, 2020

On 15 March the price of an ounce of gold in U. S. dollars was $1501.25, today (4 June) it is $1710.50, a change of around + 14%.

On 15 March the price of an ounce of gold in Australian dollars was $2451.20, today it is $2460.25, a change of just 3/10ths of 1 %.

The difference between the two is simply the difference in the value of the currencies that gold is quoted in.

On 15 March the Australian dollar was worth $0.57 U.S. cents, today it is worth $0.69 U.S. cents, a difference of +21% (you can see this move on the far right end of the currency chart below).

This move has been fairly sudden and has brought us closer to the trend line, so gold prices in AUD should be expected to move in closer lockstep with gold priced in other currencies going forward.

It’s worth noting that despite the large rally in the AUD, gold has very recently reached all-time highs in many currencies, including the Australian dollar. Many analysts expect that once the all-time U.S. dollar price of $1917 per ounce is reached then the next leg of the gold bull market will begin.

  Bringing gold to the digital age - Interview on ausbiz Gold Price and the Ongoing Covid-19 Crisis, April 22 Update – Part 2 of 2 SendGold Update – Ramping up Services as Gold Demand Skyrockets  

Download our new app now and BUY 100% title to GOLD in minutes


SendGold

June 4, 2020

We are delighted to announce the appointment of Maria Loyez as Chief Customer Experience Advisor. SendGold CEO Jodi Stanton states, “We could not be happier to have Maria on board to help further develop and drive our AI-powered customer experience program as we formally launch SendGold on a global scale. She brings a unique insight into the overlay of intelligent marketing, marketing technology stacks, and commercial problem-solving. The timing could not be better with our 648% growth in gold demand since January.” Maria is no stranger to challenger banking. She is an award-winning marketing heavyweight in fintech. Her roles have included Chief Customer Officer at Volt Bank, Chief Marketing Officer at P2P lender SocietyOne, Chief Marketing Officer at OFX (formerly OzForex) and lead marketing with Virgin, AMP, and Optus. Maria was named Marketing Professional of the Year in the Women in Finance awards in 2018. Maria has hit the ground running as we gear up for our formal global business launch and Series A fundraise. A heartfelt welcome to Maria from the entire, growing, SendGold team! About our Advisory Board Maria joins our Advisory Board comprised of a strong bench of long term members.

  • Ken Chapman is Head of Debt Capital Markets at the Australian Stock Exchange and leads initiatives aimed at broadening the ASX investment product offering.
  • Monique Miller is Senior Vice President responsible for investment strategy and investment process at Euclidean Capital, a New York-based family office.
  • Christopher Chong, ACH, a corporate and financial advisor to companies, governments and leading Asian families.
  • Stuart Thomas is General Counsel and Company Secretary of Network Ten.
  • Steve Wilson, a globally recognised leader in data protection.
Read more about our Advisors Bringing gold to the digital age - Interview on ausbiz Gold Price and the Ongoing Covid-19 Crisis, April 22 Update – Part 2 of 2 SendGold Update – Ramping up Services as Gold Demand Skyrockets

Download our new app now and BUY 100% title to GOLD in minutes


Mark Pey

May 27, 2020

The crisis and financial response have created a sense of uncertainty and gold market investors are not immune to this uncertainty. News headlines can seem to show the way forward but then can be contradicted by later headlines as the crisis situation continues to unfold.

This can create a mental tug-of-war as investors decide how to position their portfolios. For example, retail sales, including sales of gold jewellery, have shown a steep decline:

https://www.forbes.com/sites/anthonydemarco/2020/05/01/coronavirus-causes-1st-quarter-gold-jewelry-demand-to-plunged-39/#5649aa8719f4

In response, though, governments have pledged more than $6 trillion in new borrowing to stimulate demand. So falling demand for gold jewellery has been outweighed so far by investors demanding currencies like gold that cannot simply be printed in unlimited quantities:

https://www.marketwatch.com/story/gold-as-an-investment-is-made-for-times-like-these-2020-05-05

Shares and bonds versus gold

Some investments that compete with gold, like shares, have staged a rebound from their lows. But the real-world companies underlying those shares have taken historic hits to both their earnings and their balance sheets, casting doubts as to whether their share price performance can continue. (Absent, of course, even more money printing, with the same effect as noted in the previous paragraph):

https://www.wsj.com/articles/why-is-the-stock-market-rallying-when-the-economy-is-so-bad-11588974327

And on the bond front, would you agree to loan someone $1000 at no interest, and after two years receive just $980 back? This is the position government bond investors in Europe and Japan are already in. With the U.K. now joining the NIRP (Negative Interest Rate Policy) Club and the likelihood that the U.S. is to follow shortly, it’s no wonder that capital preservation investors are seeking the certainty of gold. It also may pay no interest but at least they know their investment is secure, away from prying government hands:

https://uk.finance.yahoo.com/news/coronavirus-covid-19-uk-government-negative-yield-bond-gilt-144510468.html

The four horsemen

On the “safe haven” front we have all four of the horsemen of the apocalypse (war, pandemic, famine, and death) galloping around, so it’s no surprise that the gold price continues to be supported by a safe haven bid. With the world’s two largest economies gearing up for an epic battle over trade, cyber, Covid-19, and many other things, protecting wealth from worst-case scenarios is top of mind for investors of all sizes.

Uncertainty need not equal inaction

 We think the crisis so far has been a time for people and gold market investors to return to thinking about the fundamentals. The confluence of monetary, investment, and economic fundamentals continues to point to further uncertainty. But it’s precisely in times like these that gold comes to the rescue of investors and savers trying to protect what’s important to them.

  Kerry Stevenson interview with Jodi Stanton, CEO & Co-founder of SendGold Gold Price and the Ongoing Covid-19 Crisis, April 22 Update – Part 2 of 2 SendGold Update – Ramping up Services as Gold Demand Skyrockets  

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Mark Pey

June 30, 2020

With the collapse of banking provider Wirecard, it's worth revisiting the benefits of actually owning gold versus owning “paper gold” derivatives like ETFs.

Last week, the multi-billion dollar German banking provider, Wirecard, suddenly and dramatically collapsed and their CEO was arrested. The Wirecard board said, “There is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion euros (AUD $3.1 billion) do not exist."

In the Wirecard case, the trouble began to come to light when The Financial Times reported doubts about the complexity of the company’s accounting. The powerful top German regulator, BaFin, threatened to sue the FT for libel. Now, the top European regulator is investigating BaFin themselves and a class action lawsuit against Wirecard’s auditor, Ernst & Young, has been filed.

At SendGold, we have long held that the best way to own gold, whose function at the end of the day is to protect wealth through any and all financial market scenarios, is through individual outright ownership of physical gold metal, full stop. The reason we have structured our company this way is because complexity is the enemy of security, and we believe this is the simplest and most secure structure.

The structure of Wirecard was so complex that neither the regulator nor the auditor could reliably determine its ongoing soundness. We think customers should apply a similar "simplicity" (and transparency) acid test to owning paper gold derivatives like ETFs:

  • ETFs are shares. This means they are owned by the broker-dealer in what’s called “street name”, and the broker-dealer owes the value of the shares to customers. To repeat: The broker-dealer owns the shares.
  • Underneath this ETF share structure, there can be a number of subsidiary legal arrangements from different counterparts including “sponsors”, “marketing agents”, “authorised participants”, “custodians”, “sub-custodians”, and even “sub-sub custodians”.
  • Amazingly, in the case of the largest gold ETF GLD, these arrangements are not even covered by written contracts, monitoring, or insurance. We discussed the details of this in a prior blog post: https://www.sendgold.com/gold-etf-it-always-pays-to-read-the-fine-print/

We are all still figuring out what post-Covid-19 life will be like but a few trends seem to be emerging. People are seeking to simplify their lives and seek greater transparency from their financial providers and their relationships.

With financial and economic risks on the rise and headlines like Wirecard appearing, people want to protect what they have by knowing that they actually own it, no matter what the next news headline might reveal.

  NEW! Invest in Gold with your SMSF What’s going on with the price of gold in Australian dollars? Volt Bank’s Maria Loyez joins SendGold as Chief Customer Experience Advisor  

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SendGold

June 11, 2020

According to the latest Australian Taxation Office statistics, more than 1.1 million Australians are members of self-managed super funds (SMSFs) - attracted by the freedom to choose and manage their own super investments. The number has been steadily increasing for several years, as has the average individual members and overall fund balance. So it’s no surprise that one of the most requested developments from our customers is the ability to invest in gold with an SMSF, to diversify and protect their superannuation and retirement investments. We try to take your ideas and make them happen, and we’re excited to announce that we’ve now launched business accounts so you can invest with SendGold using your SMSF, Trust, Partnership or Company account. It’s simple to do :

  • Register your details
  • We’ll be in touch to get the required documentation
  • Download the app in your business name and invest in gold!
Of course, customers are buying gold with their SMSF for the same reasons why they’re buying gold in individual investments:
  • Gold continues to produce short, medium and long-term returns better than other asset classes.
  • Gold delivers its strongest returns when interest rates are low.
  • Gold is a proven hedge in times of crisis and this is when we see central banks, funds and individuals increase their gold holdings to preserve wealth.
  • The value of gold is uncorrelated to other assets classes such as shares, property or cash and so provides balance to portfolio returns.
  • Gold is a hedge against falling currencies.
  • Gold is one of the world’s most liquid assets, its daily market exceeding that of the S&P 500. It can always be bought or sold within the global market.
We created SendGold to make it easier for everyone to buy gold, but we know that SMSFs aren’t everyone’s cup of tea. If you don’t have an SMSF but have friends that do, next time they talk about it over dinner, invite them to use SendGold and you could earn gold on their first purchase. When they buy AUD 50 worth of gold, we’ll give you both a reward of G10 ( 100 mg) of pure gold. It’s simple to invite friends from within our app. and a win-win!   What’s going on with the price of gold in Australian dollars? Volt Bank’s Maria Loyez joins SendGold as Chief Customer Experience Advisor Finding certainty and sticking to fundamentals during the Covid-19 crisis  

Download our new app now and BUY 100% title to GOLD in minutes


Mark Pey

June 4, 2020

On 15 March the price of an ounce of gold in U. S. dollars was $1501.25, today (4 June) it is $1710.50, a change of around + 14%.

On 15 March the price of an ounce of gold in Australian dollars was $2451.20, today it is $2460.25, a change of just 3/10ths of 1 %.

The difference between the two is simply the difference in the value of the currencies that gold is quoted in.

On 15 March the Australian dollar was worth $0.57 U.S. cents, today it is worth $0.69 U.S. cents, a difference of +21% (you can see this move on the far right end of the currency chart below).

This move has been fairly sudden and has brought us closer to the trend line, so gold prices in AUD should be expected to move in closer lockstep with gold priced in other currencies going forward.

It’s worth noting that despite the large rally in the AUD, gold has very recently reached all-time highs in many currencies, including the Australian dollar. Many analysts expect that once the all-time U.S. dollar price of $1917 per ounce is reached then the next leg of the gold bull market will begin.

  Bringing gold to the digital age - Interview on ausbiz Gold Price and the Ongoing Covid-19 Crisis, April 22 Update – Part 2 of 2 SendGold Update – Ramping up Services as Gold Demand Skyrockets  

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