Back in December 2010, it was reported that The Gold Label was in cashflow difficulties.
For the uninitiated, The Gold Label is a company (among a few) that sells gold at a markup to retail investors and then offer them a “guaranteed” buyback option with a cash rebate. The cash rebate can amount to more than 10% a year if the rollover is done continuously.
I haven’t seen any latest news report of The Gold Label being liquidated yet, but judging from the comments posted here by their customers, looks like it’s game over for all the Gold Label investors.
I wonder how many of their customers managed to hold on to their gold (hope it’s real).
For those who are contemplating investing into similar schemes, I hope you know what you are getting yourself into.