How to buy gold in Singapore using CPF Investment Scheme

How do I invest in gold with the allotted amount in my CPF statement?

Let’s find out.

I can buy gold?

Based on the information from my CPF statement…

I can use about 10% of my investible CPF saving to buy gold.

The gold limit is updated monthly using my CPF balances at the end of the previous month.

How to buy gold?

Based on the PDF found on this CPF help page…

We can use CPF to buy Gold ETFs and other Gold products (such as Gold certificates, Gold savings accounts, Physical Gold).

Gold ETF – Only SPDR Gold Shares is included and can be bought through brokers. (under SGX trading name “GLD 10US$”).

Gold Products – Available only through UOB and we must have an investment account with UOB.

I don’t have any UOB account, so only GLD 10US$ is available for me.

What is GLD 10US$?

GLD 10US$ is a stock counter on the Singapore Stock Exchange under the symbol O87.

It is also known as SPDR Gold managed under under a US company called State Street Corporation.

👉 http://www.spdrgoldshares.com/singapore/

“SPDR Gold Shares offer investors an innovative, relatively cost efficient and secure way to access the gold market. SPDR Gold Shares are intended to offer investors a means of participating in the gold bullion market without the necessity of taking physical delivery of gold, and to buy and sell that interest through the trading of a security on a regulated stock exchange.”

SPDR Gold Shares

How much is SPDR Gold now?

Here’s a snapshot from Yahoo Finance.

By the way, the price is not the same as the price of gold in the market.

Today it is US$133. 3 months ago US$120. 1 year ago US$111.

So the price has risen over the year by about US$22. That’s a lot.

But in 2012, 7 years ago, the price as US$160. US$27 more than now.

Is US$160 the potential?

Should I buy now?

Please let me know in the comments.

In the mean time, the research continues.

Check out more discussions about buying gold in Singapore here… https://forums.hardwarezone.com.sg/money-mind-210/investing-gold-5748985-6.html

AdrianLee | AdrianVideoImage.com