Overview
The agency of physical gold trading refers to the business that Agricultural Bank of China concludes a cooperative agreement with the gold enterprise and sells the physical gold product to and repurchases it from customers through the outlets on behalf of the gold enterprise.
Types
Now, the products consist of Zhaojin Standard Golden Bar and High-Purcell Standard Golden Bar.
Zhaojin Standard Golden Bar is in the specifications of 10 grams, 20 grams, 30 grams, 50 grams, 100 grams, 200 grams, 300 grams, 500 grams, 1 kilogram and 12.5 kilograms. The purity of golden bar is AU99.99. The processing fee will be charged by producer, being either RMB9.8 per gram or RMB8.8 per gram.
High-Purcell Standard Golden Bar is in the specifications of 1 ounce, 2 ounces, 5 ounces and 10 ounces. The purity of golden bar is AU99.99. RMB109 per ounce processing fee will be charged upon selling out, while RMB62 per ounce will be returned to customer upon repurchase.
Features
1. Physical gold is both a commodity and a financial product. It can be a gift or collection and may serve as an important investment vehicle for realizing preservation and appreciation. With a distinctive preservation function, physical gold is powerful to defend against inflation.
2. With good liquidity, it can be honored conveniently at the counter with low added cost and small honoring loss.
3. Its price is open and transparent, following the trend of international gold price.
Procedures
I. Purchase procedures
1. Customers select the gold product at the exhibition counter of designated outlet or in the product handbook.
2. Customers fill in and submit the purchase voucher, while we inquire the processing fee and the current-day selling price and submit to the business system for handling.
3. Customers settle with us, while we register the gold product information and give the product and invoice to the customer.
II. Repurchase procedures
1. Customers bring the original purchase voucher, invoice, verification certificate, repurchase certificate, debit card of Agricultural Bank of China, and the gold product in intact package and with good anti-fake label to the designated outlet, fills in the gold repurchase voucher and gives the voucher and product to the bank staff.
2. We verify the gold product according to the due procedures of enterprise and reclaim and register the product that meets the repurchase standards.
3. We inquire the current-day buying price and submit to the business system for handling.
4. We settle with the customer.
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