Gold is a precious metal that can act as a buffer to diversify your portfolio. There are many ways to start investing in gold in Malaysia.
HelloGold and Public Gold are two main ways to buy gold without going through banks.
HelloGold Vs Public Gold
What you are buying
HelloGold allows you to invest in LBMA gold as low as RM1. The physical gold is kept at their vaults in Singapore, and is redeemable when you have 1g.
Public Gold enables you to directly buy gold physically. This means you pay and get the physical gold products in hand, such as LBMA Gold Bar, Dinar, Bungamas etc.
Public Gold: RM100 (Gold Accumulation Program)
- Administration fees: 2% annually, calculated daily and charged on monthly basis
- Processing fee: RM1.20 if buy through online banking, free if buy using Boost or Touch n’ Go eWallet
- Redemption fee: applies if you want to take physical delivery of your gold.
Public Gold Fees
- No obvious fees, selling price includes all costs
Spread is the difference between the ‘buy’ and ‘sell’ price. This margin is how the platform or company makes money.
|Public Gold (LBMA Gold Bar 10g)||302/g||275/g||27.00|
Ease of Purchase
You can buy gold easily via HelloGold app which displays the latest spot gold price.
For Public Gold, purchases can be made online but you’ll have to get the physical gold yourself at any of their Public Gold branches nationwide.
Both HelloGold and Public Gold are shariah-compliant.
Both HelloGold and Public Gold has some kind of program in place to help you save regularly.
HelloGold’s Smart Saver program allows you to start saving in gold at a low RM30 monthly.
Public Gold’s Gold Accumulation Program (GAP) is RM100 monthly.
Both HelloGold and Public Gold have their advantages and disadvantages.
HelloGold is cheaper compared to Public Gold, but they have an annual fee. But when you consider the fact that this includes all their storage and insurance costs, it’s not so much considering the peace of mind you get.
Bonus: Use my code BONG05R6 to get RM5 rebate when you purchase your first gold! Minimum RM50.
Public Gold is expensive due to the fact they need to pay their dealers and all associated costs. Plus you’d have to deal with the headache of storing your physical gold securely.