Wednesday, July 22, 2009

Investing in gold

Dear Mr. Tan
Since bank interest rates have been very low recently, a friend has recommended me to invest in gold. The buying and selling of gold is through this company. The company’s website is (link deleted)

REPLY
I do not know if this organisation is reliable. You should not invest in any organisation that you are not familiar with. If you wish to invest with this organisation, you must do your research well. Some banks in Singapore offer similar facilities for you to invest in gold. I think that UOB is one of them. I suggest that you find out more about their offer.

If you wish to invest in gold, make sure that it is not more than 10% of your total savings. And hold it as a long term investment.

4 comments:

Loh Hon Chun said...

Or maybe you can invest on Gold ETFs as an alternative.

Anonymous said...

Is it regulated?

Anonymous said...

you can buy paper gold from UOB gold account. Or open account from broker where you can buy spot gold or futures.
Or you can buy physical gold from banks.
The above are all pretty safe.

Anonymous said...

Gold has been raising for the past 9 years without failed (ie. compared the price at 31 Dec to 1st Jan).

This year (1st Jan), gold started at around US$1100. Trust that at end of year the same will apply for the next few years.

With physical Gold, there is no counterparty risk like currency or stocks etc.

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