September Updates 2013-09-01 Dear Valued Members, The month of August has continued to build on the stabilization theme for Gold, rising more than 5.5% for the period. Dominant drivers include the recent tensions over Syria and the ever evolving economic picture in the US. Positive news is greeted with pessimism over the looming Federal Open Market Committee on 17-18 of September, when we expect the Fed to begin the first of its monetary policy tightening measures. We expect a range bound but volatile sideways prognosis for the asset class. With regards to the Precious Metal Bank (PMB) programme, we are encouraged by the range and insight of feedback received from clients. Pegasus Bullion would like to emphasize that we are committed to maximizing returns for all clients and strengthening our product offerings. In recent months, we have experienced an increase in administrative workload and overheads owing to repeated churning of accounts by certain clients. As such, it is necessary for us to take steps to discourage such practices from affecting the genuine majority of our clients in the PMB program. As such, we will be implementing the following improvements for this month of September: 1. With effect immediately, physical gold and e-cash redemptions within FIRST month of purchasing will be subjected to a 30% Early Redemption Administrative Fee. This is to safeguard the interests of the better part of our client base and the company. Going forward, clients who wish to purchase physical bullion directly from the company are kindly requested to do so by contacting our staff at enquiries@pegasusbullion. 2. All accounts will have to be verified with a government ID uploaded by 10th September 2013. Accounts that have not been verified will have limited functionality: No E-Cash/P-Cash transfers within the system will be allowed until accounts have been verified. Kindly take a digital photo of your government ID and upload it to our system. On the left hand menu bar, go to Account Management > Account Verification > click the ‘Upload’ button 3. We kindly request that all clients submit their most up to date mailing addresses at the time of registration. Pegasus Bullion sends out a Welcome package to new clients, which contains important information about their participation in the PMB program. Please kindly note that if any mail is returned or fails to reach its destination due to an invalid address, a postage and handling fee of 30 P-cash will be charged to clients who request for a second mailing attempt. Pegasus Bullion continues to position itself for the long term and ensures our commitment to our clients We thank you for your understanding and continued support. Regards, The Management
Posted on: Sun, 08 Sep 2013 08:42:02 +0000
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