As of writing, there are currently 5 banks that offer their account holders the opportunity to invest into Paper Gold. The 5 banks are:
- UOB Bank (UOB Gold Savings Account)
- CIMB (CIMB Gold Savings Account)
- Public Bank (Public Bank Gold Investment Account)
- Maybank (Maybank Gold Investment Account)
- Kuwait Finance House (KFH Gold Account-i)
*click on link to find out more information about that gold savings/investment account
When deciding to purchase paper gold one of the key factor to consider is the "Difference between Selling and Buying Price offered by the bank".
Lower price difference between selling and buying price allows investors to benefit from the following:
- Earn higher returns.
- Quicker recouping of investment when gold price rises.
However, I would like to remind that this is just one of the key factor when considering which bank you would like to open your gold investment account with. Other factors such as convenience in buying and selling (e.g via online), availability of funds in that bank and having a single bank account to manage all your investment should be taken into consideration as well.
Comparison of Buying-Selling Paper Gold Prices Among Banks
Paper Gold Comparison - price RM per gram
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Selling*
|
Buying*
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Difference
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% Difference
|
|
UOB Bank
|
164.70
|
162.70
|
2.00
|
1.23%
|
CIMB
|
165.30
|
159.70
|
5.60
|
3.51%
|
Public Bank
|
166.47
|
159.93
|
6.54
|
4.09%
|
Maybank
|
165.94
|
158.99
|
6.95
|
4.37%
|
Kuwait Finance House
|
166.90
|
159.30
|
7.60
|
4.77%
|
*Buying and Selling Price as of 19th February 2013
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