The world is crazy. Just last week, the UK government borrowed money from investors and instead of paying them for the loan, the investors have to pay the UK government interest for the privilege of lending money to them. Shocked? I am too. I’m not going to pretend I know how this will turn out but I imagine it won’t be good and may impact us all in the long run.
To paint a picture, imagine getting a car loan and instead of charging you interest, the bank pays you for borrowing money from them!
So, with all this uncertainty and madness, I’m sure many of you have been thinking what you should be doing with your gold. As the value of gold continues to increase, the question I get frequently is “should I sell or should I hold?”
First, it’s important to note that one of gold’s qualities (it has many GREAT qualities) is that it’s an ‘‘insurance’ for our finances when the world goes haywire. One commentator said “… if the price [of gold] goes up, you are supposed to sell them. But most people don’t sell them”. Often, people hold on to it if there’s no urgent need for cash and end up passing their gold down to the next generation. Why? Because while many investors buy and sell shares and stocks, they rarely trade when it comes to gold; preferring instead to hold on to it.
Personally, I believe gold is much more than a hedge against inflation; it is a hedge on your life. It’s a hedge and safety net when the unpredictable happens, when the world goes crazy or as the commentator perfectly put it, when the world is “… turning into ‘Mad Max Beyond Thunderdome’.”
Having said this, I’m not saying I would never sell gold. If I urgently needed cash to pay for an emergency – an overdue loan, hospital fees, etc, then yes, I would sell my gold. In short, if selling gold reduces the likelihood of something bad happening in my life or to those near and dear to me, I would sell it in a heartbeat.
I am fortunate to have spare cash, and assuming I have adequate life and medical insurance coverage for myself and my family, I would keep buying more gold until it made up 10% of my investment portfolio. This is what I think would be the right amount of gold I should have. To add context, most financial advisors recommend anything between 5% and 10%.
If I had a higher risk tolerance as well as the ability to hold whatever investments I make for the next 3 to 5 years, I would split my spare cash between equities, bonds, gold and Bitcoin. It’s important to note that these decisions are never the same for two people; it depends on where you are with your money and how much you have to save.
If you have thoughts or different ways in managing your finances, share them in the comment section, I’d love to hear them.
i pay two time to hellogold ( 2 x RM30 ) but system show only one time payment . please follow up for me?
Hello!
Do contact our customer service via the HelloGold app or call us at 1300 130 888 if you are still facing this issue.
Thank you!
Keeping it good but HelloGold will always earn by charging maintenance fee yet our part of earning will go higher or drop.. You should relook into your fees structure!
Hello!
We understand your concerns. However, this administration fee ensures that your gold is:
SAFELY STORED
The gold you buy is physical, fully allocated gold that is stored, audited and insured in a vault managed by our vault provider, BullionStar International.
This is similar to putting your money in a bank or putting your valuables in a safe deposit box. Just like paying a monthly fee to rent a safe deposit box, gold owners pay a nominal fee to safely store gold in a vault.
INSURED
PIDM does not insure gold savings.. However, all our customer’s gold is fully insured by our insurance partner, Chubb International. In the unfortunate event your gold is destroyed, stolen or lost, you will receive compensation to its full value.
AUDITED
You would want peace of mind that your gold is safe and accounted for. Allocated gold is regularly audited regularly to ensure your gold is:
– Stored safely in the vault
– Authentic by checking the serial number of the bar against our records
– Weighed and tested on its purity.
We hope this helps! Do let us know if you have any other questions 🙂
if can translate into Chinese more better.
Please send me plan marketing
Hello!
Do send us an email at [email protected] or call us at 1300 130 888
Hello there, some of the gold that I have bought was in 2018, when price was around RM160. 00 per gram. Should I sell some now to take profits and hold cash instead?
Hello!
We provide a platform for our users to buy, save, redeem and sell gold. We do not provide advise as to how much or when to save, nor when is it profitable to sell. If you would like to find out more about gold and the market trends, there’s a large quantity of research material available either online or printed media.
We believe that gold is a long term investment/savings commodity and encourage more people to save in gold due to it’s stability. Gold is unlike the Forex market or the stock market where price may fluctuate drastically, unless of course due to some unforeseen circumstances. With our platform, we allow our customers to save in gold from as low as RM1 and allow them to accumulate gold over a period of time and they have the option to either sell it or have it delivered to them at any point in time.
Is there marketing plan and are you looking for Agents too ?
Hello!
Do send us an email at [email protected] or call us at 1300 130 888