AMG unveils $1bn gold backed certificate

THE African Medallion Group (AMG) has introduced a $1 billion gold-backed bond certificate, in a development that is expected to consolidate the company’s status in the yellow metal sector.

The latest development also comes at a time the South African gold medallion firm, launched by Zimbabwean entrepreneur Frank Buyanga, saw its gold reserves increasing to R2 billion up from R1 billion a year ago.

Gold is often referred to as the “safe haven” for investors, due to its retention of value, rarity, and immunity to interest rate policies that can frequently be influenced by political and economic movements.

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