Money FM 89.3 Show
Asked by Anonymous
Asked 2w ago
Where are the platforms available and how do I go about doing it?
Do not go get from mall jewelry retailers as they charge a premium above it.
Bullion Star sells them and charges you based on the price on their website that changes in real time.
There is also UOB that comes with this plastic bag that you cannot remove it if you wanna sell back to UOB.
Which leads to my next point on how you are going to sell them if you need it, there is always a mark down that is very disadvantageous to you.
The price of gold need to go up a bit just for you to breakeven.
There are local platforms such https://www.bullionstar.com and https://www.goldsilvercentral.com.sg. UOB offers gold and silver too https://www.uob.com.sg/personal/invest/goldsilver/overview.page.
Do note only bullion are GST-exempted. https://www.iras.gov.sg/irashome/GST/GST-registered-businesses/Working-out-your-taxes/When-is-GST-not-charged/Supplies-Exempt-from-GST/#title5
Top Contributor (Oct)
Assuming you are on Seedly website for investment reasons and not looking to decorate your home - its much better to use ETFs (eg iShares IAU/SLV for Gold/Silver) - less basis risk, lower holding costs compared to actual physical coins