Friday, April 10, 2015

Tagged Under: , , , ,

Gold Price In The Bush As High As The Market Price?


When it comes to dealing with Gold, one of the things that is familiar in Ghana besides scamming, is that people will also pretend to be Clients or Buyers, the way most of the people will say.  
These people would bargain for the cheapest price possible even though the commission for the Buyer Side was already included in the price. The commission will usually be $1,000/kg.

The thing is, the less money the so called Buyer has to pay, the more they will profit from it, which make sense of course!

2 years ago, I received a message from one of my colleagues, Mohamed, in Dubai, that there was a Buyer interested in purchasing Gold and wanted to have the Gold to be checked out at the AA Mineral in Ghana. Since the refinery is known for its genuine reputation, I knew that the Seller would not object to that.

Mohamed connected me on Skype with Steve P., who was in Ghana and claimed to be the Buyer's Representative and it seemed like the Buyer wanted to transact in a very short period. 
We discussed the price and as expected Steve wanted to have the cheapest price he could get, but I informed him that including the commission the Seller just could not give a lower price.
After we agreed on the price, I sent the Purchase Agreement to be filled in and signed by the Buyer, because we did not want to waste time.
According to Steve, the Buyer was in Dubai, but Buyer's partner was present in Ghana, therefore the meeting could be arranged easily.

Promise after promise, days after days, mails after mails, we finally received the signed Purchase Agreement from Steve. 
We probably should have realized then that there was something off, but we were just too busy focusing on the transaction among other things.
After sending the signed Agreement, it was time for me to discuss things and make arrangements with the Seller. I also sent a mail to Steve requested him to get in touch with the Seller as well.

When we all thought the time came for the Buyer and the Seller to meet and transact, it seemed nothing happened, because there was no Buyer in the first place.

When I confronted Steve on Skype he came up with the excuse that the Buyer backed out of the deal, due to the price. According to Steve, the Buyer disagreed on the price. The price was too high and it should have been lower. 
As the conversation continued it get so weird, because then he started saying that even the price in the bush was as high as the market price these days and therefore the Buyer could not make any profit.

My reaction was: "What?... How can that be??"...  "That is not even possible!!"... "That really did not make any sense". 
I suggested him to check the price online and even take time to inform him about the LBMA and the discounts, but he was saying that he was a man and he was the one living in Ghana and that I did not know anything about Ghana and Gold

It was just hilarious! You could see his true colors and his lack of knowledge. 
Guess it did not matter what I tell or do to convince him otherwise, because it seemed that he felt trapped with his nonsense story that he was basically babbling things that make no sense at all. 

I assume that Steve was just trying to sell the Gold to the refinery by pretending to have a Buyer, but his plan backfired on him, because AA Mineral might not be interested in purchasing Gold at that time.


  1. Dear Partner,

    Who we are and what we do...

    We are UK based Financial Services company, we write to introduce our company as financial and investment brokers. Our company can assist you in seeing opportunities, securing project and investment loan funding, bank instruments (Bank Guarantee (BG), Standby Letter of Credit (SBLC)) to aid you secure funds appropriately from any global AAA+ rated banks or top investment house to fund your projects from mid- range to massive projects any where in the world.

    Our area of specialisation focuses more on helping our clients with securing investment loan and leasing bank instrument (BG or SBLC) from AAA+ rated banks.

    Contact us today if you have projects that require funding from 1M - 5B and we will be more than glad to advise and work with you.
    Mr Ronald Rajnesh Gounder
    Skype ID: grounesh.advisory

    1. I`m Charlie Bean and I live in Toronto Canada. I needed a loan to buy a house and I searched for a mortgage loan from all banks and I was denied and I loss hope of having my own house until I came across a post just as you reading my post now. I saw a post about a Financial Service Company who gives loan at 2% interest so I applied in STEAKLEY FINANCIAL SERVICES using their email And my loan was granted it was like a dream but was true and now am a owner of a house in Toronto and am paying the mortgage loan with no stress and I also requested if I can be granted a business loan and I was also granted. Now am living a happy life, I will advice you if you have an financial problems and you need money to settle it so you can pay with no stress just contact Steakley Financial Service at their email or number +1(512) 714-8010.

  2. The most secure store of riches worldwide for a considerable length of time has dependably been Gold. Not just is gold all around cherished for its excellent appearance and shine, but since of its unbelievable common sense and one of a kind basic properties. the IRA Gold Advisor

  3. Silver Gold Bull is your trusted bullion dealer. They will provide you with bargain, up-to-minute pricing and they will ensure that your gold & silver is delivered to your door discreetly and securely.

    God bless you sir, I will not stop telling the world about your kindness in my life, I am a single mum with kids to look after. My name is Emily Thomas and I am from Convention Center Drive, Miami Beach, FL . A couple of weeks ago My friend visited me and along our discussion she told me about EDWARD JONES FINANCE, that they can help me out of my financial situation, I never believed cause I have spend so much money on different loan lenders who did nothing other than running away with my money. I have been in a financial mess for the pass 7 months now, She advised I give it a try so I mailed him and explain all about my financial situation to him, he therefore took me through the loan process and gave me a loan of $390,000.00 at a very low interest rate of 2% and today I am a proud business owner and can now take good care of my kids, If you must contact any firm to get any amount of loan you need with a low interest rate of 2% and better repayment schedule, please contact EDWARD JONES FINANCE email:- {} OR Text +1(307) 217-5388

    We give out loans with an affordable interest rate of 2% Captain One provide Excellent and Professional
    Financial Services and we are known and genuine money lenders across the globe
    Our services include the following:
    *Student Loans
    Truck Loan
    Personal Loan
    Debt consolidation loan
    Car Loans
    Business Loan
    Student Loan
    Mortgage Loan
    Refinancing Loan
    Home Loan
    Improvement loan
    Construction Loan
    Looking forward to receive your reply and I will advise you on how to get the fund to your bank account and interest rate will also be discuss before both parties will sign the Loan Contract us no matter your location no collateral for more information on how to get started: (Whats App) number: +919394133968 Mr Jeffery


Need an Invite?

Want to follow my fashion blog? Be my guest, give us a message.

Name Email * Message *

Fashion Business

Jwcey Celebs Forum Sexy Fashion