Important Information

Information on Goldtresor precious metals account spreads. Last updated: 22 April 2020, 14:00 (CET)

PRECIOUS METALS BUY/SELL SPREADS

Update 22.04.2020: Please review the current Goldtresor conditions by logging in to the Goldtresor system or by downloading the Fee Schedule. The currently available stock can be found under the Goldtresor Bars & Coins menu or in the Conclude webshop.

Content written on 25.03.2020:

Currently, every precious metals market participant worldwide that is still operating is working with significantly wider spreads than usual. This is due to increased exchange rate volatility, a drastic rise in hedging costs, and supply shortages caused by refineries operating at reduced capacity.

For all these reasons, Goldtresor is also obliged to adjust its spreads flexibly, responding to the constantly changing situation.

CUSTOMER SERVICE CONTACT

On weekdays between 9:00 and 17:00, you can reach us on the telephone numbers below and at support@goldtresor.com.

For investments up to HUF 5 million, help desk, general enquiries: Szebellédi Szilvia: +36 20 225 3944

For investments of HUF 5–20 million: Juhász Kristóf: +36 20 257 6442

For investments above HUF 20 million: Juhász Gergely: +36 20 257 2442

BANK TRANSACTIONS

Deposits and withdrawals in all three currencies are operating without interruption.

We have increased the frequency of deposit crediting — incoming funds are credited on weekdays at 09:00, 13:00 and 17:00.

Withdrawals are processed to clients' bank accounts both in the morning and afternoon on weekdays.

PHYSICAL PRECIOUS METAL STOCKS

Refineries and mints cannot avoid the effects of the coronavirus pandemic either, and it is expected that production of gold bars and other precious metal products will halt at certain mints and refineries for a few weeks. This is causing supply shortages and a corresponding rise in premiums.

Demand for physical metal remains enormous, as the announced unlimited money printing and the enormous relief packages are expected to cause monetary depreciation — now also in the value of the dollar — against which gold is the only effective means of protection.

_Goldtresor backs every precious metals account balance 100% with physical precious metal, meaning we sell clients gold and other metals that we have previously purchased and stored — that is, which physically exist. However, in the event of stock depletion, it is possible that we may suspend trading in Goldtresor for a few hours or even days, in which case we would only be able to provide the custody function._

During Goldtresor's operation, our foremost priority is the protection of clients' assets, which our vault service partners ensure even if international gold trading were to temporarily cease.

To avoid supply shortages, we have established new procurement channels and storage capacity in London — the centre of the physical precious metals market — where we can trade directly with the most important players in the precious metals market.

We trust that our supply of physical gold, silver, platinum and palladium will remain balanced during the challenging period ahead, and that we will continue to provide our valued clients with the same high standard of service they are accustomed to.

With kind regards,

Juhász Gergely, Chief Executive Officer, Conclude Zrt.