If someone approaches you to buy gold bars with an attractive rate of interest and a buy-back guarantee, you have to reject it. Here is the reason why:
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Way back in the 70s, there were diamond investment outfits in the Orchard area peddling solitaires in sealed boxes with certificates of valuation for around $40,000 per carat on a similar buy-back guarantee at higher prices at a later date, like two or three years. Opening the box, of course, voids the deal. There were suckers who fell for the scam, for who knows what was in the box. Even if the stone was visible like in a plastic box, it could still be a rhinestone or just glass. It was borrowing money with worthless collateral and the shop could vanish long before the redemption date.
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