I sold off my holdings in my UOB Gold Saving Account during the 1st week of December and made 5% return on my investments. It was quite a decent profit considering the fact that I held the investment for only 3 weeks.
Nowadays you will not be able to get this amount of profit even if you put your money in a fixed deposit account. The best thing about UOB Gold Saving Account is the liquidity: you can sell off your investment anytime you want and make quick profits!
Gold Savings Accounts (GSA)/Silver Savings Accounts (SSA) can be opened at any UOB branch in Singapore from Mondays to Fridays during banking hours. You may choose to have a passbook or receive statements of accounts in respect of your GSA or SSA.
Investing in UOB Gold Saving Account is relatively straightforward but investors need to be aware of the risk involved. The gold and silver market is volatile and that the investments in gold and silver are not guaranteed by the Bank nor insured under the Deposit Insurance Scheme. So during a financial crisis, there may be a remote possibility of losing all your investments in the gold saving account.
But the most important thing that investors need to note is that the account balances cannot be exchanged for or converted to physical gold or silver or gold certificates. If you are interested in buying physical bullion, then you may want to consider BullionStar, one of the largest bullion dealers in Singapore. From their website, you can can buy, sell or request withdrawal of bullion online 24/7.
BullionStar was established by people with vast experience in the precious metals industry. One of the founders of BullionStar, Mr. Torgny Persson, has established several bullion dealers in Europe previously. The Swedish bullion company Liberty Silver AB was established by Mr. Persson in 2008 whereas the Estonian bullion dealerLiberty Silver OÜ was established by Mr. Persson in 2011.
Another founder of BullionStar, Mr. Joakim Andersson, is also the managing director of Bullion International Ltd which is a service provider for bullion dealers and information companies in the precious metals industry.
One thing I like about BullionStar is that the company seeks to educate Singaporeans on the merits of owning physical gold and is seen as an authority in the field of bullion trends. They often update their website with insightful information pertaining to the gold and silver trends worldwide. This is the differentiating factor between them and other bullion dealers as it can be seen from their efforts that they are more interested in establishing a long-term relationship with customers rather than just selling you their products.
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SG Wealth Builder