Public Gold is like any goldsmith shop from which gold can be purchased and when the value of the gold appreciates, the gold can be sold back at the buy back price. The difference are as follows :
1. Selling Price
Other goldsmiths sells based on the the recommended price of the Federation of Goldsmiths and Jewellers Association of Malaysia (FGJAM)
Public Gold publish their own daily prices in Nanyany Siang Pao and this follows the International Gold Bullion prices

2. Difference between selling price and buy back price
Goldsmiths normally has a difference of 15 – 20% between the selling and buyback price. With Public gold the margin is lower. Hence, customers does not have to wait for the gold prices to appreciate more than 15-20% before making a profit.

3. Public Gold sells physical gold and makes on the margin between the buying and selling price, just as in any trading company.

Your are right that there are a lot of scams ans conmen (and conwomen) around especially with there being a big pool of gullible people.
However, you have to consider the following :
1. There are still genuine businessmen and traders who are carrying on legitimate businesses.
2. That the Government can come down hard on companies and business who are out to cheat the rakyat.
Some facts about Samudra Gold Vault :
1. It is a goldsmith shop;
2. It sells to customers its pure gold and gives rebates;
3. There are now companies which is willing to buy back gold at the price purchased from Samudra GV or if the price of gold goes up dramatically, the purchaser can sell the gold at the higher price and make the profit;
4. There is now set up a “Gold Bullion Entreprenuer Association of Malaysia which recommends the price at which its members are to sell the gold and Samudra GV is a Member of this Association;
5. That with Samudra GV you are in possession of physical pure gold which is also what you get from other goldsmiths in Malaysia but where they do not offer you the rebates;
6. That being a high return for your sales and purchase of the gold, there is always the risks of government intervention in the trading activities or other untoward consequences. Therefore, if you are willing to risk the margin which the Company is making when you are sold the gold, then come in by all means, if not, then you may have to look for safer havens. However, with Samudra GV and the rebate given, with each passing month, the risk is reduced and after a certain period you will be making profit in your trading.

All businessmen have to make profit to survive.

The other goldsmith shops does that even though at the FGJAM recommended price, the profit may be lower;
The bank does that, again though it may be lower;
The bullion wholesaler does that, yet again maybe at a lower rate.

But please remember, SGV give you rebates;
When you buys from SGV, there is a ready trade-in partner who will buy you gold at the price at which the gold is purchased regardless of whether the price of gold goes up or down.

The concentration should be on whether, SGV or clone can make use of the profit they make from your purchase, to continuously pay the rebate and remain sustainable.

You can contact me at victor3288@gmail.com.

Regards.

Yes, agree with you. I was a victim of the Pinnacle Notes too, and only got back a small portion.

I have a simplified model of how genneva operates, but not sure how much of the picture is given, and I still do not really understand how it works. Maybe we can compare notes if you give me your email address.

I find the risk/reward very acceptable. (ie loss of 20% to 25% versus gain of 1.5% to 2% monthly).

Many people think that S’pore MAS regulation is fantastic. They don’t know what MAS regulation is about. I have come across many MAS regulated products like unit trusts and Bonds that lose money big time.

Lehman Bros Minibonds in Singapore was MAS regulated and approved for sale. Yet it went sour!

The best reminder to me is “Caveat Emptor” (ie Buyer Beware).