Swiss Precious Metals, a joint venture between Euroasia Investment SA, managed by Yves Bouvier, and Palaedino Group SA, directed by Leonardo Castellana is launching a new programme for the trade in and storage of precious metals at the new free ports in Singapore (the Singapore FreePort).
This is an innovative and unique solution which is aimed at offering the best protection for their clients’ wealth.
Located in a bunker at the heart of The Singapore FreePort, Swiss Precious Metals’ strong rooms are designed for the storage of physical gold. Offering 24-hour, 7 day-a-week access, these strong rooms have been constructed to withstand an airplane crash or a major earthquake and are guarded not only by armed guards but also by the latest state of the art technology (laser detectors, biometric identification, etc.).
“This is one of the safest places on earth,” says Yves Bouvier, Chairman of Euroasia Investment. “The Singapore FreePort is located next to Changi International Airport and has been designed to store valuables and collectibles. It therefore offers maximum security combined with absolute confidentiality. And as it is a free zone, all commercial operations are tax exempt.”
At the same time and understanding that the price of gold is more often influenced by fluctuations in its reference currency (US dollar) than by the evolution of fundamental factors relating to the commodity itself, Swiss Precious Metals has also launched a new gold index, the SPM Gold Index which measures the price of gold, not in US dollars but against a basket of reference currencies. This index aims to reflect more closely the fundamental changes in the commodity and reduces the impact of a dollar bias.
Jerôme Berset, a Senior Portfolio Manager with Palaedino Asset Management and the driving force behind this new index, says: “the SPM Gold Index gives a more objective representation of the intrinsic value of gold. It constitutes a better method for appreciating the real performance of the precious metal and for identifying trend patterns. It is without question more relevant particularly for an Asian clientele whose reference currency is not the US dollar only.”
