Volunteers putty in place for precious metal exchange
VOLUNTEERS have putty on the table for the world’s first precious metal trading exchange.
The site, known as Volubur, has just been launched and will offer a service that would allow people to sell and exchange their precious metals for other precious metals.
The website will offer exchange rates from around the world for gold and silver, silver, platinum and palladium.
The gold and platinum exchange rate will be between 0.6 to 1 per cent.
“Volubur will be the world first exchange of precious metals in the financial market, where all countries, currencies and assets can be traded, according to the site,” the site says.
The site has been in the works for two years.
The website was launched last week.
The gold and sterling exchange rate is currently between 0:1 to 1.5 per cent, while the platinum and gold exchange rate are currently at 0.3 to 1 percent.
Volubus exchange rate has already attracted over 300,000 users.
The exchange rate on the site will be based on the gold and copper prices, which is the same as the price of gold at the time of the last gold price collapse in 2009.
Gold and silver prices are currently the highest they have ever been.
The price of palladium is at about 0.2 to 1 cents per gram.
The Gold and Silver Exchange is the first gold and precious metal marketplace in the world.
Volur will not be accepting credit cards, but it has a limited number of participants.
The service is set to launch in December and will be available to those who have signed up for a subscription or paid for a monthly membership.
Voluurs website has been updated with information about the new exchange rate, and more details about the site can be found on the Volubum website.