Be it in Singapore or anywhere in the world, gold is a timeless form of investment.

Gold continues to be a popular option for investors who seek a viable investment choice that will retain its price and enable you to preserve your wealth. Many investors perceive gold as an effective way to protect themselves from the volatile nature of the world’s economy. Unlike money, gold contains an intrinsic value attributed to its controlled amount and widespread popularity.

Gold coins have been in existence for centuries, dating as far back as 800 B.C when coins that contained gold got introduced. People have been holding gold for a variety of reasons. Economies and societies have placed a lot of value on gold, which has continued to increase its worth. It is the precious metal that people can depend on when other currencies are not functional, which means that it will always be valuable as protection against difficult times.

Are you thinking of investing in gold? Read this article to find out more.


Different Ways To Buy UOB Gold In Singapore

Different Ways To Buy UOB Gold In Singapore Credit 21 Licensed Moneylender

Purchasing Physical Gold

Buying gold is not exactly like those uncles wearing gold necklaces and chains sitting at coffee shops in Singapore. Investors usually acquire physical gold in the form of coins and gold bars. When purchasing actual gold, you need to get adequately prepared in terms of the storage that can be facilitated by depositing the gold in a bank or keeping it in a safe at home.

Physical gold is likely to rise in value over time, which means that you do not have a restriction on coins and gold bars. You can also buy gold jewellery, and its value will increase similarly. However, when you aim to purchase gold for investment purposes, buying gold coins and gold bars is highly recommended because it is easier to establish their value.

You can buy gold as an investment through banks. For example, bullion bars or coins can get purchased at banks such as UOB.

Gold Certificates

Buying gold certificates is comparable to purchasing physical gold, but in this case, you do not have actually to take the gold items. You get the alternative of certification that can usually get sold when you need real gold or money. It is the ideal option for anyone who does not have safe storage facilities for securing gold bars, or you want to avoid the costs linked to storing gold safely.

Savings Account

You also have the option of buying gold in Singapore through a savings account for gold that is facilitated by the bank. Some banks, including UOB, give you the opportunity of starting a saving account that subsequently enables you to buy and sell gold without the necessity of handling logistics and shipping.

This type of savings account is comparable to gold certificates in terms of enabling you to trade without dealing with actual gold. Your bank account balance shows your gold investment, which is an excellent idea if you want to use your bank account to invest.

Banks And Gold

Banks can sell gold to individuals who seek to make purchases. UOB provides a savings account for this purpose, along with offering actual gold. However, while some banks offer buyers the opportunity to buy gold, this option is becoming limited. Banks that are involved in buying and selling gold, often offer gold coins rather than bars.


Value Of Buying Gold In Singapore

Value Of Buying Gold In Singapore Credit 21 Licensed Moneylenders

One might have heard of other forms of investments, such as the stock, purchasing ETFs, REITs and bonds. 

Gold gets widely revered for its rich historical past and worth around the world. It has enabled connections to numerous cultures and customs since time immemorial.  However, investors still need to be convinced that buying gold is a worthwhile undertaking.

Gold serves as a way to circumvent inflation. It means that the lower value of a currency that results from it does not influence gold. When purchasing power gets diminished due to the drop in the amount of money, gold is often useful as a measure of wealth and likely increases in value.

Gold gets viewed as perpetually valuable. It often results in people buying gold when their local currency is experiencing a decrease in worth due to an economic challenge or inflation. It is a good idea to buy gold when you seek to conserve your wealth by investing.

More and more investors are acknowledging the value of gold. It can be a significant component of a diverse investment portfolio because its value continues to improve during situations that lead to the decline of other investments such as shares and bonds. Although the cost of gold can be unpredictable for some time, it has maintained its worth consistently as a long-term investment. Most importantly, you need to constantly upgrade yourself.


So, What Are The Prices Of Gold Bars?

It costs upwards of $65118 to buy gold bullion bar that weighs 1kg. These bars contain gold material that is between 0.995% and 0.9999%. The rectangle bars are typically available in the form of minted or cast bars. Their appearance varies since they get produced by a variety of government mints and refineries. An ounce of gold costs $1, 997.76 and the price of one gram is $64.23.


Investing In Gold To Diversify Your Investment Portfolio

Investing In Gold To Diversify Your Investment Portfolio Credit 21 Licensed Moneylender Singapore

Even when you have other investment options like stocks, including gold in your investment portfolio can be a good idea. That is because gold generally gets viewed as protection during an economic crisis. You can expect the prices of property and stock to be low in a recession. On the other hand, the prices of gold have a tendency of rising when there is political and economic turmoil. Therefore, holding gold is a worthwhile consideration for dealing with economic uncertainties.

Additionally, the purchasing power linked to gold has been relatively constant over many years. Unlike the SGD that bought less than what it could today decades ago, gold protects you from the volatility of the currency. Your money may be losing its worth if your currency goes down, but gold will still be valuable.


Here’s A Look At The History Of Gold Prices

YearPrice (Per ounce USD)Change (%)

The prices of gold have risen steadily, with a sharp rise since 2007 during the financial crisis at this time. Investing in gold does not have to be complicated or complex. It is an investment option that has proven to be a favourable choice when seeking to gain protection from risk in your investment portfolio.

While you may not be into fashion trends that consist of weighing down your neck with a variety of gold chains, you can still take advantage of the benefits linked to buying the precious metal. Gold is not just a fashion statement or a way to showcase your taste in the more beautiful things of life. It can serve as an effective way to invest and help to grow your wealth substantially. Aside from moving around with actual gold bars, you can begin investing in gold in different ways within Singapore.


All In All

Gold can be an essential component of diversified investment portfolios due to its increase in price in response to situations that cause the value of investments such as bonds and stocks to decline. While gold prices can be volatile on a short-term basis, it has always retained its worth in the long-term.

Over the years, it has been an investment worth considering as a hedge against the devaluation of crucial currencies and inflation. So, have you decided to expand your investment portfolio?