As everybody now, gold investment account is getting popular nowadays. It allows you to buy, sell and keep track of your gold transaction via a passbook.
There are many banks for you tom open gold investment account. Investor can always select their preferred choice to invest in. What they need to have is just a savings or current account at the bank in order to open a gold investment account.
Gold prices hit a record high at US$1,911 an ounce last 2 months ago. A year ago, the gold buying price ranged from RM121 to RM123 and the sell price ranged from RM126 to RM128. But, at the end of August, the buyer price ranged from RM174 to RM178 while the sell price ranged from RM180 to RM185. So, the gold price has proven its strongest investment vehicle during economic crisis period.
If you plan to increase your return, then it’s recommended to choose an account that has the smallest spread. In current market, there’re new players such as UOB and CIMB offer the smallest spreads, with UOB outshining its competitors with 0.55% & 1.1% for the Premier Gold Account and Gold Savings account respectively. So, these are my great tips for you.
CIMB, Public Bank and UOB impose a fee if the minimum balance in your gold investment account falls below a stipulated level at year ends. Public bank levies the highest fees when customers make a withdrawal, the conversion fees can be ranged from RM220 to RM270 which is the highest among the banks. However, Kuwait Finance House does not impose any extra fees but they offer biggest spread in the market.
All bank offers actually come with pros and cons, it depends on how you decide and select which option that really best suit you. So, we cannot judge it from single perspective. In next article, I will share with you more about the comparison between banks. Please do not miss out the golden opportunity. See you then!