WHat are the ways or apps available in Singapore to buy Gold/Silver as investment?

[phunware]

No idea why I can’t post this question to Money Mind section but I am thinking of buying precious metals with my $200 Assurances Package


So far the options I have come to know so far are:

UOB— physical gold bar and certs, saving account for silver

OCBC— buy/sell on the app, about 3% fees

Bullionstar— physical bars/coins and saving account at 0.09% fees

Moomoo- open forex position, maintain minimum amount of about $700 usd inside margin account

ETFs- Buy in SGX or fractional shares in US stock market

Touch & Go e-wallet - unable to proceed with registration unless use Malaysian mobile number

With my small sum of money, is ETF the best option?

Any other available option that I have missed out?

 

[Notbbfa]

anyone knows if can buy gold bars from gold jewellery shop? anything to take note?

 

[Anghtj]

Buy on carousell. $200 can buy at most 1.5g

 

[buyacat]

Lol if for investment and you can't buy a 1kg bar, don't waste money la.

If for keeping as a good luck token, can get from Singapore Mint.

 

[Shion]

stock code: GOLD on ASX ?

$200 cant buy much tbh

 

[CmDrRaBb]

Don't buy from jewellery shop. They will add on workmanship and GST. Investment grade gold are GST extempt. If you sell the gold back to jewellery shop, they will deduct some percentage from spot price. Going by current rate, $200 can get 1gm or 1.5gm if I am not wrong. Super not worth for investment as the markup on these weights are at least 30% over spot.
But if you die die want to try, can go thru banks or precious metal dealers for physical gold or transfer to an ebroker and get gold related stocks.

 

[CmDrRaBb]

anyone knows if can buy gold bars from gold jewellery shop? anything to take note?

Can but they charge workmanship and GST. If you want to get investment grade gold bars, 999.99 fine gold or 99.99 types, get from precious metal dealers as investment grade precious metals are GST extempt.

 

[mel1888]

No idea why I can’t post this question to Money Mind section but I am thinking of buying precious metals with my $200 Assurances Package


So far the options I have come to know so far are:

UOB— physical gold bar and certs, saving account for silver

OCBC— buy/sell on the app, about 3% fees

Bullionstar— physical bars/coins and saving account at 0.09% fees

Moomoo- open forex position, maintain minimum amount of about $700 usd inside margin account

ETFs- Buy in SGX or fractional shares in US stock market

With my small sum of money, is ETF the best option?

Any other available option that I have missed out?

UOB also have gold savings acc. need go branch to open & make initial deposit. After that online buy sell can.
I cant remember the fees tho.

 

[phunware]

Don't buy from jewellery shop. They will add on workmanship and GST. Investment grade gold are GST extempt. If you sell the gold back to jewellery shop, they will deduct some percentage from spot price. Going by current rate, $200 can get 1gm or 1.5gm if I am not wrong. Super not worth for investment as the markup on these weights are at least 30% over spot.
But if you die die want to try, can go thru banks or precious metal dealers for physical gold or transfer to an ebroker and get gold related stocks.

Gold related stock I only can find miners

Dun wan mining companies as their price will tank with every tariff announcement

 

[phunware]

Lol if for investment and you can't buy a 1kg bar, don't waste money la.

If for keeping as a good luck token, can get from Singapore Mint.

So the $200 better elsewhere like crypto?

I can’t even stretch to 100g bar

 

[nasilemak100]

$200 go sgpool better

 

[Laneige]

OCBC have
UOB one I heard exp after they explained to me
Best to buy solid gold else need to maintain acc

 

[fortunecat]

So the $200 better elsewhere like crypto?

I can’t even stretch to 100g bar

Is $200 just a start or that's all you're going to put in?

 

[CmDrRaBb]

Gold related stock I only can find miners

Dun wan mining companies as their price will tank with every tariff announcement

SPRD gold shares

 

[Roundtreex]

PAXG crypto. Can 30X somemore.

 

[midnightinparis]

GLD

can buy on any broker

IBKR or SYFE are the 2 I use

 

[phunware]

Is $200 just a start or that's all you're going to put in?

Start

Currently only able to tolerate losing this amount of money and also current price too near ATH already

Will put in more when XAU dip

 

[phunware]

PAXG crypto. Can 30X somemore.

This one need crypto app and no brokerage can buy right?

 

[Killingeve]

I use OCBC. I plan to put inside long term

 

[LoaGong12]

anyone knows why is this better than GLD?