BRIDGETOWN(BullionStreet): Scotiabank, one of the largest physical gold dealers in the world is offering investors in the West Indies, especially in Trinidad and Tobago,the option of buying gold in the form of certificates.

Scotiabank Trinidad and Tobago became the the first bank in Trinidad and Tobago to offer gold as an investment option.

The bank is issuing the certificates in Trinidad through the bank’s Precious division, ScotiaMocatta Investors can buy gold certificates by placing a minimum order for ten ounces (10oz) of 99.999 percent purity gold, which would cost an estimated TT $100,000 at current world market prices for gold.

Scotiabank said the market value of gold will be quoted on the basis of the amount of metal ordered on the particular day, an investor places his/her order.

Scotiabank assured investors that its Gold Certificates are backed by the assets of its parent bank, the Bank of Nova Scotia, and are issued to clients in lieu of physical bullion, or bars.

Although this is the first time gold is being offered for sale by a local bank, globally Scotiabank is one of the largest physical gold dealers in the world, buying and selling gold in New York, London, Hong Kong, Shanghai and in its home country of Canada.