HOW GOLD SCAMMERS OPERATE (BUYERS' GUIDE)

To all gold buyers

Ghana is one of the leading countries producing gold, and this brings a lot of buyers into the country. Most of these buyers' intention is to buy gold and ship it successfully to their destination, but unfortunately, some of these buyers are being scammed and they lose all their money as a result. If you are a genuine gold buyer and you want value for your money, then please read this article very well and contact me for more details.

THE FACTS

·        Gold as I always say is not a cheap commodity. Miners in Ghana suffer so much to bring a few grams of gold out of the earth. Sometimes, miners excavate several acres of land without getting even 20grams of gold. In such cases, they lose a lot of money in the hiring of excavators and other equipment and fuel. Cost of mining and the labor that goes into it is so high that you should not expect a miner to sell his gold to you at the price you want. Sometimes, buyers quote several ridiculous and funny prices which will attract only scammers. It takes a lot of hard work for a miner to get up to a kilo of gold, so no genuine miner/seller will sell gold even at 3% discount below LME spot price. So buyers should stop dreaming about cheap gold. When you follow cheap gold, you will be scammed.

·        About 98 percent CIF GOLD DEALS are fake. Again, no genuine miner/seller will agree to ship his gold to a different country and wait for days to be paid. It doesn’t make sense to do CIF transaction when there is a lot of buyers already in Ghana ready to do FOB business. Can you ask Ford company to ship a car to you so that you pay later? No genuine seller is stupid to do that kind of business. They know who to sell their gold to. Actually, many buyers are already chasing the miners in the mining areas to buy directly from them, so it’s a complete joke to sit somewhere and dream that the gold will come to you. GOLD DOES NOT CHASE MONEY, BUT RATHER, MONEY CHASES GOLD. If someone agrees to do CIF, then it means a relationship has already been established and the two parties know themselves very well. Perhaps the buyer sponsors the miner/seller in many ways. Buyers who sit in their countries and instruct sellers to bring their gold to them before they pay are likely to be scammed. This will give the chance for the fake seller to ask for taxes and shipping charges to be paid upfront and that money is all the seller needs. He will take the money and you will wait till eternity without seeing the gold.

·        If you want to do FOB in Ghana, please avoid sellers who would want to transact in hotel rooms or choose their own refinery or shipping agent. If seller insists on using their own agents or refineries, please do not deal with them. You are likely to be scammed. There are only a few trusted, shipping agencies and refineries. Contact me if you want to know more about them. If you are buyer in Ghana, and all you do is to invite gold sellers to your hotel, you will not see even a gram of gold. Those people who come to your hotel with gold are scammers and the gold they show you is mostly fake. Gold is not sold in hotel rooms. Be serious buyers!! Do not waste money. You need to test your gold at reputable refineries endorsed by the government before you pay for the gold.

·        Buyers should not believe sellers who boast of having 50kgs, 100kgs, 200kgs etc for sale…They are all fake stories. Gold is a highly sought-after commodity, so ask yourself why would someone accumulate so much gold and wander about on the internet looking for buyers? They can advertise the same gold for several months. Is that possible? Only scammers will do that so buyers should take note. There are serious and genuine buyers flying into Ghana every day to buy gold so why would someone suffer so much over the internet looking for buyers? Its funny isn’t it?

·        In Ghana, only the large-scale mining companies can produce that much gold within a few days. But these large-scale mining companies like Newmont, AngloGold, Kinross and the rest will not sell their gold to individuals. Its only the small-scale miners that sell their gold on daily basis to individuals. The truth is that, no small-scale miner in Ghana can produce such quantities of gold in a short period. So please do not believe their fake stories. The only way to get several KG’s of gold in a month or week is by buying from several small-scale miners across various mining towns on daily basis. That is, by establishing gold buying offices at places within the mining towns and getting agents who will buy on regular/daily basis.

SOLUTION

·        To get genuine gold, first, make sure you have money for the commodity, if you don’t have money, then gold trading is not your work. Find something else to do. CHEAP GOLD DOES NOT EXIST!!. As I always say, gold is not like oranges where you can negotiate for any price you want.

·        If you want regular supply and a higher quantity of gold, then you need to establish buying offices in the mining areas where miners will bring their gold for sale daily. Or you can deploy trusted gold buying agents to the mining towns to purchase gold daily. Accumulated daily purchased gold will be a lot of kgs in a week or a month. This is the trick serious buyers are using now. All you need is trusted people to do the business for you.

·        Most of the miners are being sponsored by investors/buyers so all the gold they produce is sold to their sponsor at a very good discounted price. Sometimes up to 10 percent discount on LME price. That’s the only way you can get a cheap gold to buy. So smart buyers would rent or buy excavators, fuel or certain equipment for the miners and they get constant supply of gold from the mines. In this case, miners cannot sell their gold to any other buyer. The truth is that, about 60 percent of small-scale miners in Ghana are being sponsored by investors. Serious buyers will find all legit ways to get regular and constant supply of gold. 

·        Some investors get a mining lease and mine their own gold. Its one of the best options for buyers who want to get regular and affordable source of supply. Foreign investors are only allowed to do large scale mining in Ghana. Although it’s a capital-intensive venture, any investor who invests in a high deposit mining concession will recoup his invested capital more than 50 times and supply of gold will be very regular too. For example, if you spend 3 million dollars on a concession that has about 200,000 ounces of gold deposits, just imagine your profit, Its worth several millions of dollars. There are very good mining concessions that are going for sale or JV. Contact me for more details.

·        Some buyers will prefund well established and trusted (government endorsed) gold buying/refineries to purchase gold for them and supply them every week. Again, only a few refineries have proven trust-worthy in this regard. Contact me for their names and details.

If you have questions or need further clarification please send me an email. My email address is

[email protected]

my skype id is kwesi.y