Gold Investment using CPF

[catherineteosg]

Hello

Anyone can guide me how to invest in GOLD using CPF Ordinary account savings?

Thank you

 

[tanjunse]

Tell you the truth CPF Board dont like CPF contributors to buy gold. They can't lend it to SG govt and then contribute to the SGDollar liquidity (CPF buys SG Govt bonds, and the money goes into the SG financial system). So CPF and SG Govt will continue to make life difficult for us to convert CPF to physical gold.

So at the moment, real answer is NO you can't buy physical gold with CPF.
You can only buy SPDR Gold Trust ETF which is trades like any stocks and shares through local brokers.
CPF Board - List of Gold Exchange Traded Funds Included Under CPFIS - my CPF 1

However it is not gold, but an investment indexed to gold price. SPDR Gold Trust can only redeemed in cash which means it is useless.

In a true emergency, gold price cannot be settled in cash, because it is far too high to paid back in cash as financial price offered by the "distressed" govt diverge from true price offered on the black market. You ought to understand that gold is used to protect yourself against THE GOVT.

 

[Epps_Sg]

You can invest at most 10% of CPF OA investible amount into Gold ETF (O87). 1 lot 10 shares is about 1660 USD now - buy online using local online brokerage adn select CPF as payment method. Of course you will need to have a brokerage already, as well as CPFIS Account with UOB, OCBC and DBS. Suppossedly you may be able to use CPF for UOB gold savings account, but i havent been able to verify that.

Speculating purely in gold is risky, you need to decide when to enter as well as exit. You may wish to invest CPF more safely using a passive diversified portfolio strategy containing stocks, gold, bonds and cash.

 

[tanjunse]

Suppossedly you may be able to use CPF for UOB gold savings account, but i havent been able to verify that.

Cannot, and never will be. UOB Gold Savings account is actually a loan account from depositor to UOB.
UOB : Precious Metals
Q14. Can I exchange my gold or silver purchased through GSA or SSA into physical gold or silver?
A14. The account balances cannot be exchanged or converted for physical gold/ silver or gold certificates.

When you hand over your cash to UOB Gold Savings Acct, they just keep it and charge you fees. Since they aren't paying you back gold, do they ever need to buy gold for you? And what price will they pay you back for your "gold" during economic distress? At the same price as the black market? Ever heard of Argentina?

 

[makav31i]

You can actually buy the gold cert from UOB which can be redeem to physical gold but don't think you can immediately redeem the gold like if you were to pay cash... 1 kilo gold is almost 70k and you can only use 10% of your cpf so in other words you need 700k in your cpf account before can even think to buy the 1kilo gold cert.. If you do have that amount of money, I don't think you need advice from people in the forum...

 

[JuveZzZ]

You can actually buy the gold cert from UOB which can be redeem to physical gold but don't think you can immediately redeem the gold like if you were to pay cash... 1 kilo gold is almost 70k and you can only use 10% of your cpf so in other words you need 700k in your cpf account before can even think to buy the 1kilo gold cert.. If you do have that amount of money, I don't think you need advice from people in the forum...

Good o ne......