by NALEDI NDLOVU
JOHANNESBURG, (CAJ News) – THE African Medallion Group (AMG) has introduced a US$1 billion gold-backed bond certificate, a global solution that enables people from anywhere in the world to invest in and enjoy the benefits of owning the special metal.
The development is expected to solidify the start-up’s position in the gold sector.
AMG stated that with a gold-backed bond certificate, investors would enjoy all the benefits of owning the mineral with minimum risk as the actual gold is stored in secure vaults.
“One can become a gold investor from anywhere in the world. Location or distance is no barrier, and investors are also able to protect their savings against the currency devaluations,” AMG stated.
With the certificate, holders can also protect themselves in cases of a severe banking crisis, AMG added.
“Our aim is to ensure that investors protect their portfolio and wealth if an economic crisis in China, the United States or Europe occurs. Even if an economic crisis would result in temporary deflation, one would be relatively better off with gold than being in paper money or paper assets.”
AMG has been making big moves on the gold scene less than two years after its entry.
It has seen its gold reserves double to R2 billion ($165,3 million) in a year.
AMG is adding more gold to its reserves through purchases made from the Rand
Refinery, the South African firm that is one of the world’s largest refineries and refines most of Africa’s gold.
The 14-month-old start-up’s accelerated growth has given it a boost as it plans to enter the highly-unpredictable Zimbabwean market.