Return On Gold Investment
I had opened a Gold Saving Passbook Account(GSPA) from Maybank on 17 March 2009. The economy was still not yet recovery form great depression more than half year ago. Investor was still panic in stock market. Thus, all investor flush to gold investing.
Everyday I could read news about the hike of the stock price. Gold become the hottest commodity and investment of all times. Due to the influences of the media, I had decided to invest part of my saving in gold. I had bought 10g of paper gold from Maybank with the price RM 114.47 per gram ( I am still undergraduate that time).
Today, after eight months of investing, I can see the return of the investment. Gold price is on bullish trend this month. The gold price buying rate stated by Maybank for GSPA is RM126.91 per gram.
My return on gold investment for these eight months is 10.8%. More than 10% of return less than one year is definitely a good investment for investor. The return is better than EPF fund, government fund, fixed deposit and unit trust too in the down turn. For the time being, I will still hold it as I am not short of money. Definitely, I will increase my allocation for gold investing in near times.
I am planning to open a gold account as well as part of my portfolio diversification. It is good to balance off the volatility of equity market.
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Mrcoolku Reply:
November 30th, 2009 at 9:59 pm
Ya, it is better to have gold as hedge of inflation and for portfolio diversification. If you intend to open a gold account, I suggest you for Public gold as their spread is smaller compare to Maybank gold. Public gold is going international too in future.
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LAI SENG CHOY Reply:
December 2nd, 2009 at 7:42 am
Yup. Thanks for your advise.
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I have sold all my gold at around RM 110 ++ per gram as i have started with Gold Investment Account slightly earlier then you.
My average price that time was around RM 100 per gram when i started with it. Still have another 2grams in my GSPA book! ^^
Made roughly 10% or so from this investment. Good way to invest and definitely will out do EPF and FD! ^^ Keep it up bro
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Mrcoolku Reply:
December 3rd, 2009 at 5:37 pm
Maybe your 2grams will worth thousand ringgit after 10 years.
I do not plan to sell it for the time being since the gold will be bullish in the recent time. Keep and see.
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Nah… 2 grams worth thousands, that time i don’t think i can enjoy the money also… ^^
That 2 grams just put so that my account won’t be closed. Leceh want to open and close again n again.. ha ha…
Maybe will go into gold again when there is some pullback! Good luck ya bro!
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Mrcoolku Reply:
December 7th, 2009 at 11:29 am
Haha… I am also waiting for some pullback. But I think in near term, it won’t happen.
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It is happening now. USD is gaining momentum and Gold is pulling back a little. Yesterday pulled back 2% ^^
Oh yeah, when you comment in my blog, you put your link of your site wrongly.. You put at http://financialrich,com ^^
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Mrcoolku Reply:
December 9th, 2009 at 7:11 am
Ya, pulling back these few days. However, the gold rates in Maybank doesn’t adjust their gold rates spontaneously with the world price. They might adjust it after few days to weeks if the gold price are stable at that level.
Thanks for reminding regarding my link.
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