OF THE MONTH
Central Metals Corp. Sets A Gold Standard With 10 Year Anniversary Story And Photo By Dave Hall
Graphics courtesy of Central Metals Corp.
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apid and varied fluctuations in the price of precious metals, most notably gold, are among the reasons Bosko Kacarevic returned to his hometown from Florida 10 years ago to open his own business. Kacarevic, owner of both Central Metals Corp. and Kindigo Capital Inc., spent three years as a commodities broker in Florida and two years working as a financial planner in his hometown when he noticed there was a void in the Windsor marketplace. “There was nobody dealing in precious metals in this area at the level I was looking at,” recounts Kacarevic. “It’s fastpaced, risky at times, but ultimately it’s very satisfying.” Kacarevic married his wife Sandra shortly after moving back to Windsor and she’s now the office manager for the business. He started working out of his basement then moved into a small office on Ouellette Avenue before landing at his current location in the Exec-U-Centre building at 2769 Howard Avenue. “The allure of gold, as an alternative to government currency, has been with us for centuries,” says Kacarevic. “There are a lot of conspiracy theories regarding its fluctuating value, but it’s a fascinating way to do business.” Back in the late 1960s, the price of gold was capped at $35 an ounce. Once the U.S. Treasury eliminated the gold standard in 1971, the price ballooned to $850 an ounce in less than 10 years. Since then, it hit a high of $1,925 in 2011 and now hovers in the mid $1,600s. “It’s essentially a currency without a country and provides insurance
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Bosko Kacarevic and his wife Sandra, the company’s office manager, own and operate Central Metals Corp., a precious metals dealer in Windsor. The company deals in gold, silver and platinum ingots, bars and coins, from its offices on Howard Avenue.
against a collapse in the economy,” explains Kacarevic. Kacarevic works with clients ranging from small investors to multi-millionaires in Canada, the U.S., Asia and Europe. He deals in gold, silver and platinum, but has little, if any, on hand at any given time. “Transactions are handled on paper and it’s essentially a transfer of ownership from one person to another or from the bank to a client,” Kacarevic indicates. He believes gold is a long-term investment and while no interest or dividends are generated, it’s recognized as a solid
B I Z X M A G A Z IN E • A P R IL / M A Y 2 0 2 0
financial investment by many in the financial services sector. “A small percentage of every investment portfolio should include gold as an alternative source of investment,” he adds. Silver, however, is another story. At the time of writing (late March) it’s selling for about $14 an ounce after reaching $50 an ounce 40 years ago and shows no sign, at the moment, of reaching its previous high. “It’s the most under-valued asset on the planet and there’s nothing else I can think of that is cheaper than it was 40 years ago,” he notes. But, it’s in such great demand in the manufacturing of iphones and computer boards that if it reached its previous high, manufacturing of these products would skyrocket, according to Kacarevic. Seeking to diversify, Kacarevic launched Kindigo Capital five years ago as a regulated private equity dealer, which provides opportunities for clients to place their gold and silver investments into registered retirement savings plans and tax-free saving accounts. For more information, visit either website: CentralMetalsCorp.com or Kindigo.com.
