A network of gold dealers have already placed bids and are waiting for gold redemptions. Bids consist of a small discount (e.g. -0.5%) off the current gold spot price. The gold spot price is the current international market price of gold at which it is traded by large institutions and that is the price that is reported in the media (usually in Troy ounces or grams).

The bid will vary slightly by vault as dealers might need gold more urgently in one vault over another. By paying slightly more where the gold is needed dealers can save on shipping costs while redeemers receive a better price for their gold. During redemption, redeemers should choose whichever vault has the best bid offer.

The current best bids by vault are:
The Safe House, SGP

Buy at USD: -1.35/Gram, -42.00/Troy Oz

Spot Difference: -∞%

Fees CGT: 1%

When you redeem gold for sale, your price will be fixed when your CGT payment is confirmed on the Ethereum blockchain. Below is a short video demonstrating redemption for sale.

Important Notice:

CACHE Gold was founded in 2018 to digitize, by issuing fungible ERC-20 tokens, uniquely tracked gold bars in a transparent and fully backed manner using GramChain asset tracking system, thus providing a real-time and tamper evident Proof of Reserve (PoR).

Our approach was compliant to the definition of an asset-backed-token under the Singapore Precious Stones and Precious Metal Act (PSPM Act) as administered by the Singapore Ministry of Law.

In mid-2023, Singapore Ministry of Law announced the proposal to amend the PSPM Act whereby “the definition of asset-backed token will be updated to exclude digital payment tokens” and that “[sale of] tokens backed by gold to a customer after the effective date of this amendment, will not fall within the scope of regulated dealing under the PSPM Act.”

With these changes, gold backed tokens, from a regulatory perspective will be regarded as securities under the Monetary Authority of Singapore (MAS). MAS securities regulations makes the issuance, distribution and trading public blockchain tradeable tokens impractical.

This shift removes the regulator assurance of issuing new CACHE Gold Tokens in Singapore and as a result, CACHE Gold has made the difficult decision to enter indefinite dormancy, with the aim of just facilitating the redemption/conversion of any remaining tokens.

If you hold any outstanding CGT, please contact us at [email protected] for guidance on CGT redemption/conversion.

CACHE Gold has consistently maintained more than 100% backing for its tokens and possesses adequate net assets to responsibly close operations, settling all liabilities. We have actively reduced outstanding tokens and hold only a minimal number of third-party tokens.

We deeply regret being unable to realize our vision of issuing highly transparent public blockchain gold tokens.