Gold Investment

[for_friend]

Heh bro, will you advice to buy from shops such as Selling Silver and Gold update twice to thrice a week - Gold Club Asia Forums ?

They seem to sell about 10 dollars below UOB and are authorized distributor for Perth Mind coins.

Just go to UOB head branch B1. There is no cheaper and safer place in Singapore to buy gold than UOB.

Go to https://uniservices1.uobgroup.com/secure/online_rates/gold_and_silver_prices.jsp to check the current gold price.

 

[Bedokian]

For physical, I would rather buy and hold myself. At least you can see it, feel it, smell it and sleep with it.

 

[Bedokian]

Heh bro, will you advice to buy from shops such as Selling Silver and Gold update twice to thrice a week - Gold Club Asia Forums ?

They seem to sell about 10 dollars below UOB and are authorized distributor for Perth Mind coins.

From the Gold Club Asia forums, he seems to be reputable and has a physical shop to boot.

Of course, you could always do the recce yourself and determine if they are ok.

 

[alexchia01]

Heh bro, will you advice to buy from shops such as Selling Silver and Gold update twice to thrice a week - Gold Club Asia Forums ?

They seem to sell about 10 dollars below UOB and are authorized distributor for Perth Mind coins.

As long as it's cash on delivery, I'm okay.

I pay cash now, I collect now. Also must have receipt.

No pay first, collect later.

Of course, this is for buying in Singapore.

If you are ordering overseas, I only trust one website. GoldAvenue.com

Why?

Because they are owned by PAMP, the manufecturer and refinery of PAMP Gold.

 

[makav31i]

From the Gold Club Asia forums, he seems to be reputable and has a physical shop to boot.

Of course, you could always do the recce yourself and determine if they are ok.

Ernest is one of the Perth Mint Authorized distributors in Singapore...The other being 1silver1, GoldSilverCentral, SGcoins and SilverBullion...

 

[Slowdown]

You may want to consider the buy-back price that the seller is giving, when considering which dealer gives you the best price.

Taking example of UOB and the shop listed in GCA forum:

PAMP Gold 1 OZ
Seller Selling Price Buy back Price
UOB 1694.00 1633.00
GCA Seller 1686 1639.00

If you buy from UOB (1694), you can sell it to other sellers at their buy back price (1639). Almost all sellers in Singapore to take in UOB gold. However if you buy from other sellers, you cannot sell it back to UOB.

I would suggest that for a peace of mind, you might want to consider buying from UOB first. Feel more comfortable and then later consider buying from other alternatives. If you buy from UOB and sell it to the other seller, the price difference is 55sgd. If you buy it without involving UOB, the difference is 47sgd. For a purchase worth 1700sgd, will the difference of 8sgd help you to have a better peace of mind? I would think that it is worth it.

Once you are more comfortable with it, you can explore other options. The first step is always the most difficult.

From the Gold Club Asia forums, he seems to be reputable and has a physical shop to boot.

Of course, you could always do the recce yourself and determine if they are ok.

 

[for_friend]

Heh are the considerations the same for silver ? Except now that uob does not sell silver. A few are convinced that since the gold vs silver ratio is are at the all time high and silver is below 20, now is a good time to buy silver.

 

[Slowdown]

A lot of people stack silver based on this belief. What goes down must come up eventually. I started off with gold and then realized it was an expensive exercise. So I switch to silver thinking it is cheaper. After a while I realized it was more difficult to break-even from silver compared to gold due to the margin between the buy / sell price. In the last 12 months my cheapest silver purchase was 28.5sgd per one ounce. Until today I have not broken even based on spot rate (not even once). For gold half of my bullion broke even last month compared to spot rate. Unfortunately it has now dropped back.

My conclusion is that i prefer to stack gold and buy silver numis coins as a hobby. Last but not least. If I die, my family know how to depose of my gold (i.e. pawnshop). I think they will throw all my silver down the dustbin.....

Heh are the considerations the same for silver ? Except now that uob does not sell silver. A few are convinced that since the gold vs silver ratio is are at the all time high and silver is below 20, now is a good time to buy silver.

 

[for_friend]

Well Said ! I didn't consider that part... I almost laughed falling out of my chair !!!

A lot of people stack silver based on this belief. What goes down must come up eventually. I started off with gold and then realized it was an expensive exercise. So I switch to silver thinking it is cheaper. After a while I realized it was more difficult to break-even from silver compared to gold due to the margin between the buy / sell price. In the last 12 months my cheapest silver purchase was 28.5sgd per one ounce. Until today I have not broken even based on spot rate (not even once). For gold half of my bullion broke even last month compared to spot rate. Unfortunately it has now dropped back.

My conclusion is that i prefer to stack gold and buy silver numis coins as a hobby. Last but not least. If I die, my family know how to depose of my gold (i.e. pawnshop). I think they will throw all my silver down the dustbin.....

 

[Silverluck]

I think the one big issue with gold is its extremely long cycle up to 10 to 20 years for one cycle either up or down. It is much easier to make money from elsewhere where the cycle is much much shorter....... Buying physical is the worst - spread of buying and selling is high, you mixed your money with hubby/legacy for your children & etc which are all the wrong reason for investment. Try to avoid gold all together if you are in other types of investment.

Just treat them as one of the product you are selling as an entrepreneur. You can't be just selling one product in your shop. Apply your investment knowledge in stocks, currency, option n etc - both long and short....imagine how many opportunities you could find out there, and learn how to pick the right investment with TA FA n you can see how you could make real money.......learn a skill that you could apply across all products......

 

[eamkay]

So, has anyone tried

At times i find their prices competitive with UOB, and Cheaper by ~ 20-25$ (on 100gm bar)

 

[makav31i]

So, has anyone tried

At times i find their prices competitive with UOB, and Cheaper by ~ 20-25$ (on 100gm bar)

Junior Member, join date 20 April 2013, first or second post to advertise a company...hmmmm...Spreading false info on your virgin post...I just checked on UOB website and the advertised website that you put...UOB selling 100 gram at $5,283 and your website that you are advertising is selling at $5,290.39...

 

[Krusnikus]

this thread goes up and down, I can't decide should I invest here or not :O

 

[alexchia01]

this thread goes up and down, I can't decide should I invest here or not :O

You make your investment decision by how popular this thread is?

 

[eamkay]

Junior Member, join date 20 April 2013, first or second post to advertise a company...hmmmm...Spreading false info on your virgin post...I just checked on UOB website and the advertised website that you put...UOB selling 100 gram at $5,283 and your website that you are advertising is selling at $5,290.39...

Ok, i have nothing to do with that company.., I was also skeptical about their authenticity...

Another thing to note, While UOB updates their gold price about 3~4 times a day (at least what i observed to be) , This website is a live price to gold spot price...,

Again, i don't own anything about this company

 

[makav31i]

Ok, i have nothing to do with that company.., I was also skeptical about their authenticity...

Another thing to note, While UOB updates their gold price about 3~4 times a day (at least what i observed to be) , This website is a live price to gold spot price...,

Again, i don't own anything about this company

I am not doubting their authenticity of the gold that they are selling but it irks me that a website which called itself, "a trusted and leading precious metals dealer in Singapore" would label a round or medallion as coins...it really shows that they totally have no idea what they are selling to a consumer...

They sell gold and silver but I only see them mentions buyback for gold, "Gold Bars and Gold Coins (999.9 fineness): Spot Price less 2%" and no mention of buyback for silver...So you pay more than UOB when you buy and get lesser when you sell...Just saying...