The Gold Label is one of the more professional goldsmith shops doing business using this model and the customer has to make his purchase through the Company’s agents who are your introducers. The staff are just performing their function as in any other goldsmith shop. Well, if you were to buy and receive physical gold, is there any difference with other goldsmith shop? Yes, the difference is that The Gold Label gives you a rebate? If you are comfortable with the possibility of losing an amount equivalent to the profit The Gold Label make from the sale of the Gold, then buy by all means and if the Company goes belly up tha moment you walk out of the shop, that is the amount of your loss. Scam or not, reliable or not depends on your level of tolerance.

Thanks for enlightening!

Every company market their products differently. You have a choice to do biz with the company that you think give you the best option (ie in your own assessment).

1. Your are right, The Gold Label , Samudra GV and similar Companies are Goldsmiths and Jewellers and their business is buying and selling gold and jewelry. They are definitely not investment companies and nowhere do they claim to be investment companies. A customer goes to them to buy gold. Whether it is as an investment, the seller company doesn’t want to know. Just like when a customer goes to a hardware shop to buy an axe. The shop doesn’t know, nor does it want to know, what the customer does with the axe, be it as a wood cutting tool or a tool for a robbery;
2. The rebate given is just like any rebate given for purchase based on the willing buyer/willing seller principle and it not intended as interest regardless of whatever BNM rule applicable or otherwise;
3. Regarding the 20% profit, please see my posting in genneva gold, which is also applicable to The Gold Label.

a) Such companies are registered as jewelery instead of an investment company;

b) Uses discount workmanship or rebate as their term of giving interest because the voucher cannot state interest term as it violates the BNM rule.

c) Gold in this scheme is 20% higher price than the normal price.

Do you have pawn shop or jewelery shop in your hometown/state? Just bring the gold from TGL to them. Say you want to sell back to them and ask for the value of the Gold. How much these shops sell and how much these shops will buy back.

If the Gold is fake, these jewelery/pawn shop people will also tell you.
Simple as that. They handle Gold day in day out and will certainly know whether the Gold is real or fake.

I have tried checking it before. Don’t just listen to me. Try it out yourself!

Every company has its own way of marketing their products. No adverts or promotion does NOT mean that its a scam.

1) Why is it not doing any advertisements and promotion of their scheme?

2) Anyone try to examine the purity of the gold before at other goldsmiths?

3) The website illustrate them as a goldsmith without the information of their investment schemes, why not putting it in the website instead on the interest payable?

If the gold examined by anyone here proven it as 999 Gold, i will be more convinced as we know that fake golds are running wild in the market.

Can you pls let me know, my contact is evias@hotmail.com
I’m located in Spore, recently found out abt TGL

Tks

Gold trading is an un-regulated business and The Gold Label does not deserve the Bank Negara Malaysia (BNM) intervention as the 2 excuses for the intervention viz money laundering and deposit taking had been scupulously avoided by TGL at the time of the raid.
To answer your question – Yes, there are companies which take your money and run away. But those are the fly by night companies and they have given a bad name to the gold trading business. So, to protect yourself always hold on to physical gold. That way, your maximum loss is around 20-30% and in the long term you stand to gain from the rebates.