facebookOpinions on buying small gold bars to start off small in investing for Students - Seedly

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Anonymous

09 Mar 2024

General Investing

Opinions on buying small gold bars to start off small in investing for Students

Hi, as a university freshman, I don't have a stable income but have been exposed to many financial articles and blogs, saying to start investing as early as possible. However, my financial status is usually linked to my family's financial situation (my money is usually tied to paying the family's household expenses), and my liquidable funds tend to fluctuate.

With that being said, I have seen many financial blogs and videos and also learnt from my grandparents about the pros of buying/holding onto Gold/Silver for the long run.

What are your opinions on a Uni freshman buying and holding onto gold/Silver? E.g. Buying 0.2g - 10g of Gold Bar from Pawn Shop / Carousell (Those in sealed certificate) or opening a UOB Gold / Silver Saving acc?

And should I buy Gold bullion coins, Gold bars or Gold Certificates or svaing acc?

E.g. Every special occasion; birthday present to myself, passing my Semester exams, etc, I would go buy a small gold bar/certificate to celebrate my small successes

Discussion (7)

What are your thoughts?

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Saving acc as gold is only useful to diversify if too much to lose

Buy T-bill / put inside fixed deposit accounts .

Take the money and put it in the stock market. Buy and hold.

Gold and silver are stores of value.

And the spread and premium above spot are very high for smaller bars.

If you still want to buy, buy bullion from legitimate sources. Not pawn shops or Carousell.

Ngooi Zhi Cheng

12 Mar 2024

Student Ambassador 2020/21 at Seedly

Hey there, as a financial consultant, I know how overwhelming it can be for students to navigate the...

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