Singapore, March 10, 2024 (GLOBE NEWSWIRE) -- Silver Bullion ( www.silverbullion.com.sg ) announces the latest addition to its S.T.A.R. Grams savings program: Platinum Grams. This new offering complements Silver Bullion’s existing lineup of Gold Grams and Silver Grams, allowing investors to buy precious metals conveniently from their mobile devices.
Like Gold Grams and Silver Grams, Platinum Grams represent fractional holdings of fully insured and allocated investment-grade platinum bullion stored in Silver Bullion’s vault, The Safe House, in Singapore. Unlike the fixed weights of platinum bullion bars and coins, S.T.A.R. Grams account holders can buy and sell in exact amounts of Platinum Grams or for exact amounts of dollars, in quantities as low as 0.1 grams. Additionally, Platinum Grams have a buy-sell spread of 6% — where clients can buy at just 6% above the platinum spot price and sell at the spot price — when purchased with U.S. dollars or Singapore dollars. The spread is narrower than buying platinum bullion bars and coins by design to incentivize regular savings in Platinum Grams.
Investors can easily buy, sell, and track their Gold, Silver, and Platinum Grams through the S.T.A.R. Dashboard on the web or the S.T.A.R. Grams App on mobile devices.
Vergel Villasoto, Director of Silver Bullion, said, “Data from the World Platinum Investment Council (WPIC) revealed an 878 koz deficit in the platinum market in 2023, the largest within their data series. They expect a market deficit to persist in 2024. The WPIC also expects total platinum supply to decrease by 1% in 2024, resulting in a 2024 supply of 6% below the average annual supply over the previous five years. With the platinum-gold ratio at all-time highs, signaling platinum’s significant price undervaluation compared to gold, the case for platinum investment is very compelling. Investors can easily position themselves in platinum by accumulating this precious metal at attractive premiums with Platinum Grams from their mobile devices.”
S.T.A.R. Savings account holders can pay using existing cash balances or credit cards. The maximum daily limit for S.T.A.R. Grams purchases is S$200,000.
Sales will be valued at the platinum spot price with no additional sell-back fee. Platinum Grams sale proceeds are immediately available in clients’ S.T.A.R. Grams accounts, giving them the flexibility to use toward other Silver Bullion products and services or request a bank transfer. Requests for cash withdrawal from the bank account on file within Singapore will be handled within one working day. (*International withdrawals to be advised due to the additional processing time.)
S.T.A.R. Platinum Grams can be converted into physical platinum bars or coins at account holders’ convenience via Silver Bullion’s website and collected at the company’s bullion retail shop at the Millenia Walk Mall in Singapore.
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About Silver Bullion
Founded in 2009, Silver Bullion is one of Singapore's largest precious metal dealers. It specializes in wealth protection and offers services, including buying and selling of bullion at its bullion retail shop, and precious metals storage, collateralization, and non-destructive testing at its ISO-9001-certified vault, The Safe House, located within its own building, The Reserve. With over 15,500 metric tons of storage capacity for physical assets like precious metals, luxury watches, art, gemstones, and other luxury items, The Reserve is one of the highest-capacity vaults in the world. Silver Bullion is a member of the London Bullion Market Association (LBMA) and the Singapore Bullion Market Association (SBMA).
For any media requests, please contact:
Silver Bullion Pte Ltd
Vincent Tie, Corporate Communications
T: +65 6100 3040
media@silverbullion.com.sg
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