Updated: October 26, 2023 Home » Investment » Gold Invest
Basically, gold investment is divided into two main types, physical gold and paper gold.
Physical gold (Real Gold) investment means that investor buy real gold bar or gold coins (Gold Dinar) from Jeweler shop, Gold Distributor or bank. There are three categories of investment precious gold bullion. They are in form of bars, coins and collectibles or limited edition.
Source: publicgoldsarawak.com
Generally, most common and recognized gold bullion or gold bar includes:
- PAMP Suisse gold bar
- Public Gold (NOT related to Public Bank)
- Poh Kong Bunga Raya Gold Bar
- Maybank Kijang Emas Gold Bullion Coin
- UOB’s Gold Coins
Paper Gold (Gold Investment Account) investment means investor no need to buy or keep the real gold bullion or gold bar, but just get a passbook like Saving Accounts.
Currently, there are many local and overseas banks provide Gold Investment Account includes:
- Maybank Gold Investment Account (MGIA)
- Public Bank Gold Account (GIA)
- CIMB Bank Gold Deposit Account (GDA)
- UOB Premier Gold Account (PGA)
- UOB Gold Savings Account (GSA)
We can buy and sell gold using internet banking like Maybank Gold Investment Account (MGIA) online via Maybank2u.com
Gold Account Camparison:
| Account | CIMB Bank | Maybank | Public Bank | UOB |
|---|---|---|---|---|
| Min Initial Deposit | 1 gram | 1 gram | 5 grams | 20 grams |
| Min Subsequent Transaction | 1 gram & multiple of 1 gram | in multiple of 1 gram | 1 grams & multiple of 1 gram | Minimum 5 grams |
| Min Balance | 1 gram | 1 gram | 2 grams | 10 grams |
| Cash Withdrawal | Yes | Yes | Yes | Yes |
| Physical Gold withdrawal | No | No | No | Yes |
| Online Gold Trading | Yes | Yes | Yes | Yes |
| Annual Fees | RM5 if year end balance <5 grams | Unknown | RM10 if year end balance <10 grams | Unknown |
| Bank Selling | RM274.60 | RM271.99 | RM273.28 | RM270.10 |
| Bank Buying | RM260.00 | RM261.54 | RM262.72 | RM266.00 |
| Price Spread per gram* | RM14.60 (5.62%) | RM10.45 (4%) | RM10.56 (4%) | RM4.10 (1.54%) |
| Selling Buying Prices | CIMB | Maybank | Public Bank | UOB |
| Website | CIMB Bank Web | Maybank Website | Public Bank Web | UOB Website |
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Hi, just wondering how to sell my gold safely on the public market – the Gold Selling Companies are taking a big cut of 7-10%, therefore more worthwhile to sell at market price
PBB for withdrawal of physical gold from paper gold they stopped already since 2016.
Thanks you Radzuan. BTW, CIMB customer can withdraw physical gold at CIMB Kuala Lumpur Main Branch, 11 Jalan Raja Laut, 50350 Kuala Lumpur.
Dear mister leaf , I’m a newbie of investing gold . Hope to hv some of ur expertise advice on paper gold investment . Is it good timing step to the field nw ? Which bank is better as all r come with a lot of fee charges except Kuwait finance house but I’m not so confident with this bank as not much seeing on Penang .