Enquiry on buying gold

[firsttimebuyer]

TS, there are several gold specialty stores like bullionstar. For mine I used gold silver central last time. And yes, jewelry stores will always mark up their prices by a lot, like including their stupid workmanship fees into the price. If u are looking to invest, these bullionstar and other specialty stores do sell the plain bullion type of gold bars and coins that are 999 true gold, their prices usually very close to market spot price but include tiny markup of like maybe 30-50bucks and also depends on the rarity of the coin also. Look for Perth mint, Canadian mint coins as they are the popular and easily recognisable coins. For bars, u can find those packed pamp bars from credit suisse and another brand which I forgot. For bars the mark up is lesser compared to coins as it's plain and mainly for investment purpose.

Some of the other commentators mentioned UOB. Is UOB better price-wise?

 

[Kookiee]

buy gold for gift ok, for investment go buy pukimon card, u can suka suka mark up and quote to earn profiterinos

 

[magna_strike]

Some of the other commentators mentioned UOB. Is UOB better price-wise?

Uob is of course cheapest and reputable, but they are anal about what they buy back. If I remember correctly, your coin or whatever u buy, the uob seal must never be broken or else they won't buy back from u. But I guess other places kinda similar also, need to show receipt when selling back to same place but since it's gold, I think bulk of your money u will get back +/- abit depending on where u sell.

 

[duatiaoloh]

If you want physical gold, best is to buy 1 kg gold cast bar.

It is easier to sell in future.

 

[Jeremy1]

If you don't feel safe keeping gold at home, then get a safe deposit box or buy gold certificate instead.

Safe but troublesome

 

[KPO_SAHM]

You keep them physically at home? How do you handle when whole family goes for vacation?

In safe. My safe box is for fire protection. If U wan to prevent thief, either U invest in gold paper or open safe box with bank. I don believe in safe box that can prevent thieft unless U go for those antique safe box during ur grandfather's time or invest in commercial safe box.

 

[KPO_SAHM]

If you want physical gold, best is to buy 1 kg gold cast bar.

It is easier to sell in future.

Depending on TS budget. If too costly then buy silver too. Precious Metal pricing would definitely appreciate if U hold it for long term. For my I have been buying gold since primary school. I got the influence from my late grandfather would own many gold coins. He didn believe in keeping money in bank as he mentioned about WW2 .

 

[duatiaoloh]

Depending on TS budget. If too costly then buy silver too. Precious Metal pricing would definitely appreciate if U hold it for long term. For my I have been buying gold since primary school. I got the influence from my late grandfather would own many gold coins. He didn believe in keeping money in bank as he mentioned about WW2 .

Jin Satki, you already have enough money to buy gold since primary school. You must be very rich.

How many gold have you accumulated? Do you only buy gold coins?

 

[NightGhost]

Was thinking to buy paper gold in bank if is ok or not? Or really need to buy physical gold.

 

[rizhal]

Not to pour water, but this article is a good read.

Gold and inflation​

Gold is not perfect protection against rising inflation. Investors should hold it for other reasons.

January 21, 2021
by Chris Dillow

Inflation is likely to rise this year. Economic forecasters expect CPI inflation to rise from 0.3 per cent in November to 1.9 per cent by year end. Which poses the question: should we hold gold as a hedge against this rise and the risk of a bigger increase? The answer is: not necessarily.

https://www.investorschronicle.co.uk/news/2021/01/21/gold-and-inflation/

 

[StrmDominatr]

Highly recommend Bullionstar for buying to invest/save up. Jewellery tore not recommended cause of extra cost for craftsman fee

 

[Mecisteus]

Many people say buy from uob. If one day uob suddenly collapse, still can get the gold?

Depends on what purpose u want to buy the gold for. My recommendation:

1. Trading for profits - gold futures and cfd

2. Long term investment - uob gold certificate, go pawn shop

3. In case in to run road - those gold bars, buy in smaller pieces easier to transact

4. To hao lian - big gold bar and place it right at your doorstep

Long term investment then buy gold ETF.

 

[HYHY123]

Buy from uob raffles and not jewellery store bro

 

[andyhtc]

I would like to check with anyone on where to buy gold bars.

Jewellery stores and buillion star the price is very diff. I heard that bullion star gold bar is 2nd hand deh, isit true?

For a 20g gold bar, jewellery stores are quoting me 2.8k plus, where bullion star is priced at 1.8k plus.

Why is the diff so much ah?

This is the first time I heard of 2nd hand gold bar.

A lot of gold is recycled e.g. from Yamashita's gold or Nazi's victims gold teeth.

Jewellery sells you the artisan's craftsmanship on top of the inherent metal.

 

[sunshinemou]

Mustafa wise?

 

[coolmyth]

Just buy and stack.

 

[mel1888]

I would like to check with anyone on where to buy gold bars.

Jewellery stores and buillion star the price is very diff. I heard that bullion star gold bar is 2nd hand deh, isit true?

For a 20g gold bar, jewellery stores are quoting me 2.8k plus, where bullion star is priced at 1.8k plus.

Why is the diff so much ah?

Why would u wan buy physical gold for investment

 

[stanlawj]

In safe. My safe box is for fire protection. If U wan to prevent thief, either U invest in gold paper or open safe box with bank. I don believe in safe box that can prevent thieft unless U go for those antique safe box during ur grandfather's time or invest in commercial safe box.

that's buying "gold" from thieves or storing gold at the thieves' place.

 

[project_00]

Why would u wan buy physical gold for investment

gold-backed CBDC?

 

[eternalxiii]

Was thinking to buy paper gold in bank if is ok or not? Or really need to buy physical gold.

Physical gold which you hold directly is the ultimate insurance. Paper gold, later bank run, u go there got long queue, not enough physical gold for customers to redeem.

I had a lot of fun researching about gold storage (from some amdk forum). Some people spent thousands on a super heavy safe (think 100kg) which is bolted into the wall or floor. Some had like 5 dummy safes hidden around the house. Some had hidden bookshelf and fake books with holes cut in them to hide 100g bars.