Saturday, December 6, 2008

Invest in Gold in Singapore

Gold needs to be part of anyone's portfolio in their journey to financial freedom. Gold serves as a hedge against any inflation. Usually, people recommend that 10% of your investments be in Gold. I currently have 0% in Gold and am looking for opportunities to purchase some Gold bullion or Gold coins. Based on what I have found thus far, only UOB offers gold investments. Please see below for what UOB offers:
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Gold Bars

Choose from a large variety of sizes, ranging from small gold wafers to cast kilobars. They can be bought from and sold back to the Bank with our daily buy-sell market quote.

Gold Bullion Coins
We offer the following bullion coins in various sizes, ranging from 1/20 oz to one oz:

  • Canadian Maple Leaf Gold Coins
  • American Eagle Gold Coins
  • Australian Kangaroo Gold Nuggets
  • Singapore Lion Gold Bullion Coins

These coins are legal tender with face value, and are accepted and traded worldwide. They can be bought from and sold back to the Bank with our daily buy-sell market quote.

Adjusted for Singapore market conditions.

Gold Certificates
These are sold in kilobars and up to a maximum of 30 kilobars per certificate. With no expiry date, these certificates can be exchanged for physical gold or cash whenever the need arises.

Gold Savings Account
You can buy and sell international gold - through a passbook - at prevailing market prices and transact any time during banking hours in units of one gm of gold, subject to a minimum of five gm per transaction.

Your gains are not subject to Singapore's Goods and Services Tax (GST) and can be exchanged for cash, whenever the need arises.

Limited to a maximum of 1,000 gm per transaction on Saturdays.

Silver Savings Account
It has never been easier to invest in silver. We have made the international silver market more accessible to smaller investors through our Silver Savings Account, where you can own unallocated silver bullion with a minimum fineness of 99.9%.

You can buy and sell international silver - through a passbook - at prevailing market prices in multiples of 10 ounces of silver each time, limited to a maximum of 500 ounces per transaction on Saturdays.

Your gains are not subject to Singapore's Goods and Services Tax (GST) and can be exchanged for cash, whenever the need arises.

How much does it cost?

  • Check our daily gold and silver prices
  • For Gold Bars: Prices are based on the daily international gold price adjusted based on Singapore market conditions
  • For Gold Bullion Coins: Prices include a premium over the international gold price
  • For Gold Certificates:
    • A flat S$5 per certificate
    • An administrative fee of S$30 per kilobar per annum
  • For Gold Savings Account: An administrative fee (in grams of gold) as low as 0.12 gm per month or 0.25% p.a. on the highest balance per month, whichever is higher
  • For Silver Savings Account: An annual administrative fee (in ounces of silver) as low as 0.2 ounce per month or 0.375% p.a. on the highest balance per month, whichever is higher
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1 comment:

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