Risk Disclosure
Purpose of this disclosure
Physical precious-metals trading involves material risks. This disclosure summarises the principal risks; it does not replace professional advice or the specific risk warnings in our formal transaction documents.
Price risk
Gold, silver and PGM prices are volatile and can move sharply in either direction. The value of any holding can fall as well as rise, and you may receive back less than you originally paid.
Liquidity risk
Although major precious metals are generally liquid, certain formats (large doré parcels, unusual bar sizes, niche PGM products) may take longer to sell or buy at a competitive price.
Counterparty risk
Until settlement is complete, both buyer and seller are exposed to the risk that the other party may default. We mitigate this through documented SPAs, escrow where appropriate, and LC / BG settlement.
Custody risk
Although storage is arranged with licensed, insured third-party vault operators, no custody arrangement is entirely free of operational, legal or political risk.
Logistics risk
Physical movements are subject to transport, customs, political and documentation risks. We use specialist logistics and appropriate insurance, but losses can still occur.
Currency risk
Where settlement is in a currency other than your base currency, exchange-rate movements will affect the realised return.
Regulatory and tax risk
Changes in law, regulation or tax treatment can affect the legality, cost or attractiveness of holding precious metals. Please consult your own advisors.
Sanctions and AML risk
Transactions are screened against applicable sanctions lists. Counterparties or beneficial owners on a sanctions list cannot transact with us, regardless of commercial terms.
Concentration risk
Holding a concentrated position in a single asset class (precious metals) is inherently risky. Diversification is your own responsibility.
No guarantee of returns
Past performance is not indicative of future results. We make no representation that any transaction will be profitable.