Gold Investment - Maybank Gold Savings Account

What do you think about investing your hard earned cash in gold? For many, gold is not a good investment. When we talk about investment, we think about property, shares, bonds, etc. People always see gold as jewellery rather than an investment vehicle.

To me, I would like to think otherwise. In my opinion gold investment may be one of the easiest and stable investment vehicle.

A few reasons I can think of that places gold as one of the safest inflation hedge.

1. No matter how severe the crisis is going to be, Gold will retain its purchasing power.
2. Gold is found to be the safest cash ready reserve. It will give you that cash cushion at all times.
3. Most importantly, you can never run into a default case while investing in Gold.

As compared to real estate, gold is comparatively easier to buy and involves smaller capital investment. Numerous investment gurus recommend adding a portfolio in gold investment.

Which brings us back to the topic of today, our local Maybank and its gold savings account. Maybank Gold Savings Passbbok Account allows you to invest in gold without dealing with physical gold. You can buy and sell gold by opening this account. The minimum amount of gold that you have to purchase is 5g, which is quite inexpensive if compared to competing banks which requires you to fork out much more for the initial amount.

Maybank Gold Savings Account Passbook
The daily gold rates can be checked anytime via Maybank2u website at any time of the day or night. Currently the 2 leading banks offering similar gold savings account would be Public Bank, and Maybank. I chose Maybank instead of a similar Account offered by Public Bank because Public Bank requires me to start with a minimum of 20g of gold. Also, Public Bank charges an annual fee and Maybank does not. Instead, Maybank only charges RM10 of stamp duty when you first open the account.

Anyway I've been monitoring the ups and downs from the Maybank2u website since 11th November 2010. The rates have been on an uptrend since then. I'm still waiting for the correct timing to buy at least 5g more.

Trendchart Of Maybank Gold Account Since 11Nov
Till then..

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About Isaac Tan
Thank you for reading this post. I hope you enjoyed reading this as much as I enjoyed writing it. My name is Isaac Tan and I cover mostly on lifestyle events with emphasis on happenings in Kuala Lumpur, food reviews, movies, tech and more. Subscribe to my feed and my facebook page. Do follow me on Twitter too at @isaactanjs , contact me via my email at isaac.tan@gmail.com

5 comments :

  1. Thanks for the tutorial, very interesting.
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    ReplyDelete
  2. You're welcome. As of today 4 January, gold prices are still high at a published Maybank rate of RM142.38 Selling and RM136.59 buying.

    ReplyDelete
  3. For close to 40 years, I have had a payroll deduction for savings. Currently, my deduction is for retirement savings (403B, IRA & Roth IRA). We live on what is left and still are able to take vacations and enjoy life.

    ReplyDelete
  4. Anonymous10:44 AM

    hi, can i know is Maybank gold investment plan considered as allocated account?

    ReplyDelete
  5. Valuable metals are turning out to be more standard, we are backtracking to typicality and ordinariness implies that gold ought to be a center some portion of your portfolio.the IRA Gold Advisor

    ReplyDelete

Always appreciate the comments. Thanks!

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