Many believe you need large sums of money to buy gold. While this used to be true four years ago, this largely depends on the type of gold you are buying today.
Let’s take a look at the types of gold you can buy for a simple price comparison.
Prices of jewellery may vary between brands and dealers. However, all gold jewellery tends to sell at an inflated price from the current gold spot price.
For example, if the gold spot price was RM170/g today, a pair of 1 gram gold earrings would cost up to RM250. That’s an RM80 price increase! Many factors go into the price hike of jewellery such as craftsmanship, production costs and overhead.
Much like jewellery, common gold products such as coins and bars are sold at an increased price. If the gold spot price was RM170/g today, a gold coin would cost around RM220. Very simply, the cost of making the coin and bars are part of the premium you pay for when purchasing gold products.
Gold From Banks
Banks in Malaysia offer gold accounts that require you to purchase a minimum amount of gold. Apart from that, you also pay monthly, storage, registration and processing fees. You will find that most banks require you to purchase a minimum of 1 gram, often at a high gold spread that can go up to 9%!
As an added service, some banks do offer to convert your e-gold to actual gold at the cost of conversion fees.
Gold From HelloGold
With HelloGold, Malaysians no longer need to pay a premium to own gold. From a minimum of RM1, anyone can purchase 99.9% investment grade gold anytime, anywhere. Even better, there are no processing or registration fees! You only cover a nominal transaction fee based on the value of the gold every time you decide to buy gold. Best of all, the gold you buy is fully allocated, insured and completely yours.
With HelloGold the lowest price of gold is effectively guaranteed and updated every day so you can be confident you will always be getting the best prices at the lowest cost.
What’s even better is that you can always request for your gold to be delivered right to your doorstep!
For better comparison on HelloGold’s benefits, learn more about our fees at https://help.hellogold.com/en/category/fees.