No... Provided u r near e panic button n guards r not sleeping or gang up with burglars.
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- Thread starter sunriver
- Start date
No... Provided u r near e panic button n guards r not sleeping or gang up with burglars.
Aunty, my answers
1) Best to buy gold bar from UOB. Silver coins buy from online retailers with a retail presence in Singapore. U can PM me where to buy. Don't open silver trading account. Always hold on to the physical asset, be it gold or silver. Not a piece of paper.
2) Gold buy from UOB. Silver buy from bullion sellers in Singapore. Don't buy at pawn shops or jewellery shops. Overpriced.
3) If quantity is low, eg. a few hundred pieces, can just keep in your house, get a fireproof safe. If a few thousand pieces or tens of thousands of silver coins, can consider parking with the bank vault.
4) For gold, buy from UOB, sell back to UOB. Of course u can also buy gold from bullion dealers. But I prefer buy from bank. Silver wise, buy from bullion dealer A, dealer A will buy back. But some bullion dealer B "may also buy silver coins bought from A". Just need to check their terms and conditions on their websites. FYI, historically, silver hit almost US$50 in previous bull run, now silver selling at SGD$25-26. What are you waiting for?
1) Best to buy gold bar from UOB. Silver coins buy from online retailers with a retail presence in Singapore. U can PM me where to buy. Don't open silver trading account. Always hold on to the physical asset, be it gold or silver. Not a piece of paper.
2) Gold buy from UOB. Silver buy from bullion sellers in Singapore. Don't buy at pawn shops or jewellery shops. Overpriced.
3) If quantity is low, eg. a few hundred pieces, can just keep in your house, get a fireproof safe. If a few thousand pieces or tens of thousands of silver coins, can consider parking with the bank vault.
4) For gold, buy from UOB, sell back to UOB. Of course u can also buy gold from bullion dealers. But I prefer buy from bank. Silver wise, buy from bullion dealer A, dealer A will buy back. But some bullion dealer B "may also buy silver coins bought from A". Just need to check their terms and conditions on their websites. FYI, historically, silver hit almost US$50 in previous bull run, now silver selling at SGD$25-26. What are you waiting for?
As I have limited $$, I did think of gold/silver but I am not sure how to go about doing it.. my queries:-
1) You buy the physical gold/silver or you just open a silver trading a/c?
2) Where did you buy them from - gold shop,bank, pawn shop...?
3) Since you buy physical pieces of silver, you need a vault right ?
4) Is it you must buy the silver from bank, then you can sell back to the bank?
you are right....heard some guards also cannot be trusted...my Malaysian colleagues say the mata will take their own sweet time to come, then take down particulars and left...
wow, thanks for the answers ...Alamak, I only have a few S$k, enough to buy? Also, the coins are in what denominations? What you mean by PM you?
Aunty, my answers
1) Best to buy gold bar from UOB. Silver coins buy from online retailers with a retail presence in Singapore. U can PM me where to buy. Don't open silver trading account. Always hold on to the physical asset, be it gold or silver. Not a piece of paper.
2) Gold buy from UOB. Silver buy from bullion sellers in Singapore. Don't buy at pawn shops or jewellery shops. Overpriced.
3) If quantity is low, eg. a few hundred pieces, can just keep in your house, get a fireproof safe. If a few thousand pieces or tens of thousands of silver coins, can consider parking with the bank vault.
4) For gold, buy from UOB, sell back to UOB. Of course u can also buy gold from bullion dealers. But I prefer buy from bank. Silver wise, buy from bullion dealer A, dealer A will buy back. But some bullion dealer B "may also buy silver coins bought from A". Just need to check their terms and conditions on their websites. FYI, historically, silver hit almost US$50 in previous bull run, now silver selling at SGD$25-26. What are you waiting for?
also, this same Malaysian colleague experience was - she ever called the mata station near her home, but the mata there tell her they not in charge of her area and ask her to call another mata station far away...
https://www.silverbullion.com.sg
You can call them to buy silver coins. I have bought 500kg of silver from them till date. Very low premium.
You can also sell back to them.
If you own gold, better to open an account in Certis Cisco. They open everyday; including all public holiday and weekend. It is better than bank safe box as bank are closed on some major holidays and weekend.
http://www.certissecurity.com/page....t+Box+-+Box+Sizes+and+Charges&id=A537P531X532
You can call them to buy silver coins. I have bought 500kg of silver from them till date. Very low premium.
You can also sell back to them.
If you own gold, better to open an account in Certis Cisco. They open everyday; including all public holiday and weekend. It is better than bank safe box as bank are closed on some major holidays and weekend.
http://www.certissecurity.com/page....t+Box+-+Box+Sizes+and+Charges&id=A537P531X532
Gold and silver able to beat inflation is actually a myth. Ever since Nixon renounce gold pegging, resulting in Nixon shock causing gold price to short spike in early 70's, In the early 80's where stagflation is rampant, gold price once rallied to 700-800 USD (highest reach 1000 USD) in early 80's where eventually get lower to around 500 USD per ounce for remaining 80's 90's and early 00's. So if you think gold able to win inflation, buy lot of gold in late 80's, you will lose to inflation badly as the price stagnant for gold for next 20 years or so.
I know people had been generally affected by Peter Schiff, Jim Rojak, Mike Maloney or any famous gold bug out there using common sense to persuade people buy gold. However from time to time perception need to change, gold cant perform if your view is that US will fundamentally recovered. Even if the next crisis epicenter is in Asia, gold will not perform as people will rush back into dollar. The dollar printing didnt crash dollar, it only increase its base money but not so much on M2. Even the low interest rate didnt crash dollar, it merely increase M3 dollar supply offshore of US creating bubble around the globe.
Like you, I was looking at gold a year ago. Fortunately did not go in. It is just a piece of metal that gives no dividend and further got to pay to store them, if have quite a lot of them. Someone shouted gold will hit US$3000 a year ago but he has disappeared. Please do sufficient research before going in.
Aunty, my answers
1) Best to buy gold bar from UOB. Silver coins buy from online retailers with a retail presence in Singapore. U can PM me where to buy. Don't open silver trading account. Always hold on to the physical asset, be it gold or silver. Not a piece of paper.
2) Gold buy from UOB. Silver buy from bullion sellers in Singapore. Don't buy at pawn shops or jewellery shops. Overpriced.
3) If quantity is low, eg. a few hundred pieces, can just keep in your house, get a fireproof safe. If a few thousand pieces or tens of thousands of silver coins, can consider parking with the bank vault.
4) For gold, buy from UOB, sell back to UOB. Of course u can also buy gold from bullion dealers. But I prefer buy from bank. Silver wise, buy from bullion dealer A, dealer A will buy back. But some bullion dealer B "may also buy silver coins bought from A". Just need to check their terms and conditions on their websites. FYI, historically, silver hit almost US$50 in previous bull run, now silver selling at SGD$25-26. What are you waiting for?
any idea what is the pricing? tqvm
wow... ok. thanks!
Thanks for the helpful links...my jaws drop when you say 500kg of silver...you one of the BIG FISH right?
This morning I make a trip down to UOB branch near my house. Happen the VP stand outside answering queries and this is what he say about gold:-
1) Gold is no longer a safe haven
2) He showed me the movement for the past 10 years. Compare to price 10 years ago, YES, gold has rise..Compare 5 years ago, NO, gold price drop...in fact, it fluctuate and in his personal opinion, unlikely to rise yet...
3) In the olden days, my parents time, they buy a piece to keep cos price sure go up but now not the case
4) Gold need storage and have to pay for storage charges. For investment, open a Gold A/c better and just pay UOB $12/- (monthly I think) to maintain the a/c.
5) As I have not much to buy(he said I not the BIG FISH), it does not make sense to buy physical gold or silver to keep. For my case, he suggest one of the following - 1) Income series fund 2)Insurance Endowment Plan 3) Fixed Deposit
I have yet to decide.
1) Gold is no longer a safe haven
2) He showed me the movement for the past 10 years. Compare to price 10 years ago, YES, gold has rise..Compare 5 years ago, NO, gold price drop...in fact, it fluctuate and in his personal opinion, unlikely to rise yet...
3) In the olden days, my parents time, they buy a piece to keep cos price sure go up but now not the case
4) Gold need storage and have to pay for storage charges. For investment, open a Gold A/c better and just pay UOB $12/- (monthly I think) to maintain the a/c.
5) As I have not much to buy(he said I not the BIG FISH), it does not make sense to buy physical gold or silver to keep. For my case, he suggest one of the following - 1) Income series fund 2)Insurance Endowment Plan 3) Fixed Deposit
I have yet to decide.
What sort of investment is still actually down to your macroeconomic reading skill, diff ppl will have diff opinion, hard to underpin who is correct, only time will tell. For me, I was previously a gold bug too, but US financial system risk had been up to a point to be safe, so im flexible to change my view too. Investing is like believing in religion, only those who believe every religion including atheism, and also embrace free thinking able to do well. I was previously drove into thinking Keynesism will not work, n think im smarter than a lot of academia, believe in austrian economic as I find it is revealing some common logic that so easy to understand yet academic ignored. In the end find none of the theory is working every time. Afterall is humanbeing who make the decision, if more n more believe in something, then something will be true. This is the lesson I learned from boom and bust of gold. Not gold bug is wrong, it is just that ppl perception had changed. Nxt round if got financial crisis on dollar (or by the time yuan) or general distrust of financial system, be quick to jump into gold as gold will have another bull run, that will be seeing that not in this or next decade.
Care to sh
Care to share why you prefer to hold the physical silver instead of opening a trading a/c ?
Care to share why you prefer to hold the physical silver instead of opening a trading a/c ?
Yesterday's The Sunday Times report on people retiring in Chiang Mai, Thailand. This Singaporean man, 64 years old, retire there since 2009. He said CPF give him $400/- per month, which he said he cannot survived in Singapore. He rent out his 3-room HDB in SG for $1,600/- per mth and comparing Penang, Chiang Mai and other places in the region, decided to rent a one-room terrace in Chiang Mai for 8500 baht(around S$350/-) and cost of living there is half of SG. Some important aspects the report mention for living in foreign land are - need to keep contacts with your own nationality and need to fend for yourself financially. It sounds kind of scary, in times to come, I cannot imagine the standard of living in SG...
If the bank change their terms and conditions, then you lan lan can't do anything mah
I will always hold physical gold and silver in my hands.
Do you know how tiny and light gold is? 1 troy oz is very tiny and now cost only S$1,600.
https://www.bullionstar.com/buy/product/gold_pamp_1oz
Why let the bank give you a piece of paper when you can own it yourself and no one can change the terms and conditions on the paper?
As for Silver, I go for Canadian Silver Maple, 0.9999 purity
https://www.bullionstar.com/buy/product/silver_maple_1oz_2014
Silver is poor man's gold. Very cheap and easy to accumulate on a monthly basis. You don't need tens of thousands to start off with. Even a few hundred can start you off.
It's simple science. Buy low, sell high. But gold and silver investment is a long term investment. The base cost of extracting gold is in the region of USD$1,200. So gold and silver prices are very low now. Can stock up, especially on silver as it has much more potential than gold.
Hope that helps.
I will always hold physical gold and silver in my hands.
Do you know how tiny and light gold is? 1 troy oz is very tiny and now cost only S$1,600.
https://www.bullionstar.com/buy/product/gold_pamp_1oz
Why let the bank give you a piece of paper when you can own it yourself and no one can change the terms and conditions on the paper?
As for Silver, I go for Canadian Silver Maple, 0.9999 purity
https://www.bullionstar.com/buy/product/silver_maple_1oz_2014
Silver is poor man's gold. Very cheap and easy to accumulate on a monthly basis. You don't need tens of thousands to start off with. Even a few hundred can start you off.
It's simple science. Buy low, sell high. But gold and silver investment is a long term investment. The base cost of extracting gold is in the region of USD$1,200. So gold and silver prices are very low now. Can stock up, especially on silver as it has much more potential than gold.
Hope that helps.
All his advice doesn't make sense.
Endowment policies are actually frowned upon by Tan Kin Lian, the ex NTUC Income CEO.
Fixed deposits are a joke considering their interest rate.
Gold price has dropped now from 5 years ago. So it is the perfect time to enter. No one in their sane mind would buy gold at their peak.
Gold, and also silver, are long term investments, 5-10 years or more. If the man wants to make money in 2-3 years time, I suggest he go dabble with stocks, unit trusts or forex.
His advice is not sound advice at all.
In fact, 80% of the unit trusts do not outperform the indices. I would rather buy index funds. But that's another topic not related to gold and silver.
Endowment policies are actually frowned upon by Tan Kin Lian, the ex NTUC Income CEO.
Fixed deposits are a joke considering their interest rate.
Gold price has dropped now from 5 years ago. So it is the perfect time to enter. No one in their sane mind would buy gold at their peak.
Gold, and also silver, are long term investments, 5-10 years or more. If the man wants to make money in 2-3 years time, I suggest he go dabble with stocks, unit trusts or forex.
His advice is not sound advice at all.
In fact, 80% of the unit trusts do not outperform the indices. I would rather buy index funds. But that's another topic not related to gold and silver.
If the bank change their terms and conditions, then you lan lan can't do anything mah
I will always hold physical gold and silver in my hands.
Do you know how tiny and light gold is? 1 troy oz is very tiny and now cost only S$1,600.
https://www.bullionstar.com/buy/product/gold_pamp_1oz
Why let the bank give you a piece of paper when you can own it yourself and no one can change the terms and conditions on the paper?
As for Silver, I go for Canadian Silver Maple, 0.9999 purity
https://www.bullionstar.com/buy/product/silver_maple_1oz_2014
Silver is poor man's gold. Very cheap and easy to accumulate on a monthly basis. You don't need tens of thousands to start off with. Even a few hundred can start you off.
It's simple science. Buy low, sell high. But gold and silver investment is a long term investment. The base cost of extracting gold is in the region of USD$1,200. So gold and silver prices are very low now. Can stock up, especially on silver as it has much more potential than gold.
Hope that helps.
I will always hold physical gold and silver in my hands.
Do you know how tiny and light gold is? 1 troy oz is very tiny and now cost only S$1,600.
https://www.bullionstar.com/buy/product/gold_pamp_1oz
Why let the bank give you a piece of paper when you can own it yourself and no one can change the terms and conditions on the paper?
As for Silver, I go for Canadian Silver Maple, 0.9999 purity
https://www.bullionstar.com/buy/product/silver_maple_1oz_2014
Silver is poor man's gold. Very cheap and easy to accumulate on a monthly basis. You don't need tens of thousands to start off with. Even a few hundred can start you off.
It's simple science. Buy low, sell high. But gold and silver investment is a long term investment. The base cost of extracting gold is in the region of USD$1,200. So gold and silver prices are very low now. Can stock up, especially on silver as it has much more potential than gold.
Hope that helps.
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