HelloGold - Ask Me Anything, related to HelloGold or gold in general
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 Mar 20 2020, 10:44 AM
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#81
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Junior Member
125 posts Joined: Apr 2017  
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QUOTE(!@#$%^ @ Mar 20 2020, 10:36 AM) since gold shortage, should be getting BETTER price no? instead of charging extra fees to sell? We have just published a post on this explaining what is happening in the physical vs spot market. The extra fees are not fees that accrued to us - our fees remain unchanged - this is the premium driven by the dislocation |
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Mar 20 2020, 10:53 AM
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#82
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Junior Member
125 posts Joined: Apr 2017
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QUOTE(!@#$%^ @ Mar 20 2020, 10:49 AM) the issue is not whether you can sell or not, or what price you can get. also it is totally understandable to have ur surcharge for buying gold, as u will need to buy from suppliers. question is why is there additional charge to sell gold and the reason being 'Physical Gold Shortage Leads To Increase In Gold Prices'. lol As I have explained earlier, we have maintained the fees that we earn - 0.79% on the buy and 2% on the sell. Anything above that is attributable to the premium that we are facing |
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Mar 20 2020, 10:54 AM
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#83
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Junior Member
125 posts Joined: Apr 2017
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QUOTE(tan_aniki @ Mar 20 2020, 10:50 AM) They can say what they want with charges on selling as well, for me they should just shut off the buying process and wait for available gold to buy after people sold their gold I am more than happy for you to contact me and I can take you in detail our operational processAdditional charges on buy and "sell" is ridiculous especially at this moment |
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Mar 20 2020, 11:00 AM
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#84
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Junior Member
125 posts Joined: Apr 2017
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QUOTE(!@#$%^ @ Mar 20 2020, 10:57 AM) best if u explain in detail here to every1 for transparency and for forumers to have confidence. Perhaps I can organise a zoom call so that anyone can join in and ask whatever questions they want. If that makes sense, I will go ahead and set up a timeour operational processes run through 100+ pages |
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Mar 20 2020, 11:04 AM
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#85
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Junior Member
125 posts Joined: Apr 2017
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QUOTE(!@#$%^ @ Mar 20 2020, 11:00 AM) from what i understand, he keep insisting that HG is being charge premium when they SELL to supplier. i dunno how true is that, because HG should be getting much better price when they sell to supplier in view of the physical gold shortage. As I believe was explained earlier.this part is not explained anywhere. 1) The price that we show on the app is the mid-price (half-way between the buy price and the sell price). It now reflects the mid-price of physical gold rather than spot 2) The other issue is that the spread has widened (from 1/2% to as high as 10% earlier in the week). We have had account for this wider spread in the fee note. We are working to make the display clearer |
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Mar 21 2020, 11:47 AM
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#86
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Junior Member
125 posts Joined: Apr 2017
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QUOTE(khayong @ Mar 21 2020, 12:07 AM) Although they removed the extra premium fee for selling gold, they lower down the gold price on the app. As we explained in the long post immediately before yours, we had to do this because we are no longer able to use the price feed for spot and had to adjust to reflect the market premiumSee the chart from https://www.xe.com/currencycharts/?from=XAU&to=MYR&view=1D The current price (20 Mar 11:36 pm) compare to yesterday is went up for 0.3% <a href='https://pictr.com/images/2020/03/20/5yO9ag.md.png' target='_blank'>https://pictr.com/images/2020/03/20/5yO9ag.md.png </a> From the app which shows the price history, the price yesterday (19 Mar 2020) was RM219.09, <a href='https://pictr.com/images/2020/03/20/5yOR4X.md.jpg' target='_blank'>https://pictr.com/images/2020/03/20/5yOR4X.md.jpg </a> But on the page where shows the latest price, the price was dropped 4.8% to RM208.36. <a href='https://pictr.com/images/2020/03/21/5yOqv8.md.jpg' target='_blank'>https://pictr.com/images/2020/03/21/5yOqv8.md.jpg </a> HelloGold is a scam which they played the trick on the gold price to incur premium fee charges on selling gold. |
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Mar 21 2020, 11:53 AM
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#87
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Junior Member
125 posts Joined: Apr 2017
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QUOTE(skty @ Mar 21 2020, 11:28 AM) this serves as a wake up call in many aspects. As we explained in the long post last night, we had to do this because we are no longer able to use the price feed for spot and had to adjust the price to reflect the market premium on the physicalthank you for the sharing. |
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