Phyiscal Gold

[Panerex]

spread big big I guess? no offence.
if buy small amount, u will find it hard to breakeven

How do I find the bid spread for gold items inside GSC?
While the site shows the sellin price, it does not show their buy-back price.

 

[Panerex]

Bought 1oz of Royal Canadian Mint Gold Bar today from GSC. Cost was about 1638sgd.

Rather than buying 1 kilo bar, I decided to start small since we do not know the direction of gold prices. If it drop further, pick up more.

Why this gold bar rather than the more commonly favored PAMP or Credit Suisse? It has the same surface dimension as the 100gms gold bar. Looking at it, it looks more than it's actual weight.

Good for showing off.

Any reason why GSC instead of UOB or SGCOINS?

out or curiosity, how to show off gold coins or bars since you will not have them with you at all times?

 

[highsulphur]

The price of retail physical gold is still >1600 when spot is near 1200.

 

[Slowdown]

For GSC must call and ask. They told me it is about 5% below the spot gold bid price. Better price for bigger item.

How do I find the bid spread for gold items inside GSC?
While the site shows the sellin price, it does not show their buy-back price.

 

[Slowdown]

uOB does not open on Saturday. GSC open for half a day. I dunno SGCOiNS.

Many ways to show off. Kai party at home. Bring to office. Take picture side by side with another piece.

Any reason why GSC instead of UOB or SGCOINS?

out or curiosity, how to show off gold coins or bars since you will not have them with you at all times?

 

[Slowdown]

Please don't be offended by my postings. All of us are here to share information and have good fun.

I basically is starting to collect gold and now start with the small gold bars. Maybe will move to other coins and eventually addicted like many others.

 

[chopra]

How do I find the bid spread for gold items inside GSC?
While the site shows the sellin price, it does not show their buy-back price.

no buy price?
that's a worry, isn't it.

 

[AhBui168]

uob opens on sat too....
I think yr concern is more on the cost of one kg bar.

agree. how many can afford/willing to park so much money in that.

no...

UOB gold department did not open on sat...

 

[steventay]

The price of retail physical gold is still >1600 when spot is near 1200.

hmm... i never knew it.

 

[highsulphur]

hmm... i never knew it.

What's the point of buying gold from a retailer whose price is not correlated to spot price?

 

[tanjhj]

atm: usd 1200 is abt 1600 sgd. they earn abt a few percentage from spot price.

 

[Panerex]

no buy price?
that's a worry, isn't it.

Yes, that’s my main worry.

While I know I can easily buy physical gold from these sources (UOB, SG Coins, GSC), I am unsure if these are the sources whom I can sell back to. Also, if these sources (other than UOB) are reliable enough parties that will still be around 10-15 years down the road.

And will UOB take in a gold bar that was purchased from GSC?

And of course, the bid-ask spread when these sources take in. Imagine, you are expecting to realize the profit only to know the sources do not take in near spot gold prices!!!

While gold jewellery can be easily sold back to jewellery and pawn shops, I know the bid-ask spread for buy-in is terrible. Nonetheless, at least it is an ornament that can be carried around.

In a way, Gold ETF and Unit Trust appear more liquid relatively as compared to the physical gold.

Sorry for my rant. I am in dilemma where I want to invest in Gold but not sure of the channels to opt for.

 

[limster]

In a way, Gold ETF and Unit Trust appear more liquid relatively as compared to the physical gold.

Gold investing also attracts the paranoid so in your research, you may have come across a lot of people advocating physical gold over ETF even though as you point out, ETF is much more liquid.

There are those that believe the Gold ETF GLD is not carrying physical gold to back up the paper gold, or those that believe that fiat currency is going to self-destruct making all financial instruments including Gold ETF worthless.

Since this is the internet, its up to you to decide who to believe....

 

[AhBui168]

gold is start going up now!

is is the time to buy gold again

 

[highsulphur]

atm: usd 1200 is abt 1600 sgd. they earn abt a few percentage from spot price.

A few percentage??? That's more than 30% dude

 

[limster]

A few percentage??? That's more than 30% dude

The problem with 2 separate threads on gold is that the question of what is the spread was answered in the other thread. At the kilobar level, the spread is only 0.44%

coin spread in uob also very high.
buy coin? aesthetic hobby over investment.

 

[highsulphur]

The problem with 2 separate threads on gold is that the question of what is the spread was answered in the other thread. At the kilobar level, the spread is only 0.44%

You are talking about bid-offer spread. I'm referring to retail vs spot price.

 

[tanjhj]

A few percentage??? That's more than 30% dude

spot price is usd1200+ which is 1600sgd. you are not in the right currency dude.
they are selling at sgd1640-1690 now. pls tell me where is that 30%. fyi: unless you are dealers, u cant get gold at below spot rate which is the retail rate. yes the dealers rate are abt 10-25% lower than spot rate

http://www.bullion-rates.com/gold/SGD/spot-price.htm#.UdEAB_n-Ea8

 

[asnnlim]

Hi guys
My 80 year old in-law want to buy 10 5gm & 10 10gm gold bars to give her children and grandchildren as a souvenirs.should I get from UOB or better price at other shops
Thanks

 

[highsulphur]

spot price is usd1200+ which is 1600sgd. you are not in the right currency dude.
they are selling at sgd1640-1690 now. pls tell me where is that 30%. fyi: unless you are dealers, u cant get gold at below spot rate which is the retail rate. yes the dealers rate are abt 10-25% lower than spot rate

Spot Gold Prices in Singapore Dollars (SGD)

Sorry. You are right. Overlooked different currency. My bad.