Why DUX Testing Is a Superior Method of Testing Gold in Singapore
How do you know the gold bullion you acquire is genuine? As precious metals have risen in popularity as an integral part of HNWI’s asset protection strategies, the industry has also seen a rise in the amount of sophisticated counterfeit gold, silver and platinum. One of the most conspicuous examples are genuine gold bars which were hollowed out and filled with tungsten.
As Asia’s hub for buying, selling and storage of precious metals, Singapore is home to companies who have been at the forefront of bullion testing for almost a decade. Recognized as one of Singapore’s top fintech companies, Silver Bullion has devised its own proprietary and non-destructive bullion testing method called DUX bullion testing.
Below is the overview of DUX testing and reasons behind it being the preferred method for testing gold bullion in Singapore.
DUX combines four tests
DUX bullion testing goes not one but three steps further in gold bullion testing than other testing methods. Namely, it’s comprised of four tests that complement each other, making it impossible for fake gold bullion to pass all four tests.
Individual tests include: the Density test, Ultrasound test, X-Ray Fluorescence test and Electrical Conductivity Measurement (ECM). Since fake gold will deviate from its genuine counterpart in mass/density, Density test is the first step of the stringent testing process. During this test, Silver Bullion technicians use trade approved scales, including highly accurate electromagnetic force compensation scales. These cutting-edge scales can detect even the 0.26% difference in density between gold and tungsten.
Since counterfeit gold of higher quality can be optimized for density, DUX testing also involves the second testing phase – the Ultrasound test. With the Ultrasound test, other characteristics such as sound velocity are measured with absolute precision.
The Ultrasound test is complemented with the Electrical Conductivity Measurement (ECM). Since gold has highly specific conductivity properties, it takes a highly sophisticated test to analyze it. While the Ultrasound test is able to detect even the slightest variation in density, ECM accurately measures electrical conductivity in striking detail.
DUX test measures the purity of bullion
The aforementioned third phase of the DUX testing involves the identification of all metals present on the surface of gold bullion. In that way, DUX testing gives a quick and detailed overview of bullion’s metal composition. The X-Ray Fluorescence test is instrumental in measuring the purity of your gold bullion and offering reliable criteria for determining its value and price.
DUX accurately identifies investment grade gold
With Investment Grade Bullion being exempt from taxes in Singapore, there is a transparent governmental support for HNWIs to purchase and store their gold bullion in Singaporean bullion vaults. Authentication of the gold bullion they purchase is vital. Since Investment Grade Bullion should be within a small range of its stated mass/density, a reliable trustworthy authentication method should be able to detect even the slightest variations in mass. As we mentioned earlier, DUX testing provides not only that but much more.
Gold plated bars cannot pass DUX gold testing
As mentioned earlier, ‘’hollowed’’ genuine gold bars filled with tungsten are a very important issue, which Singapore fintech companies like Silver Bullion are efficiently solving. Since DUX bullion testing goes well beyond testing the mass of the bullion, tungsten filling can be detected in the very first phase of the testing, and later confirmed in phases two and three. After all, DUX testing was specially designed to test exactly this kind of advanced counterfeit gold bullion.
Guaranteed bullion sellback and buyback
As respectable bullion dealer, Silver Bullion is very particular about the bullion it sells or buys back. All the transferred bullion is DUX tested. The Authentication method is exactly what guarantees the sellback and buyback of bullion. Moreover, the storage is not outsourced but instead operated by its subsidiary The Safe House (THS), state-of-the-art storage facility with a bonded warehouse status. The authentication of all transferred bullion and the fact that both trading and storage operations are done under ‘one roof’ is what enables Silver Bullion to avoid any possibility of selling or buying back counterfeit bullion.
DUX is 100% non-destructive gold bullion testing
In addition to developing a testing method for a more efficient identification of counterfeit bullion, Singapore’s Silver Bullion wanted to offer an alternative to invasive and potentially destructive testing methods, such as chemical and acid testing or even drilling. As a result, DUX testing ensures there is no damage to your gold bullion during testing.
Silver Bullion’s DUX testing is a heavily monitored process
All testing labs at Silver Bullion are equipped with multiple CCTV cameras, recording the entire process from unpacking and handling to repackaging or labeling. Uniquely identified tamper-evident bags are used to assure full transparency. All results are immediately uploaded into the test database and compared to the expected tolerances. For example, X-ray spectography is used to upload surface composition of the bullion into the test database. Every phase of the testing is documented, guaranteeing accuracy and reliability.
You can verify DUX testing results online
As an additional guarantee for clients, Silver Bullion offers the possibility of checking DUX testing results from the specially designated online database. Moreover, a client can choose it as the preferred method for obtaining the test results. It is vital that the online data matches the printed test result.