How GAP gold savings works, step by step

What is GAP?

GAP stands for Gold Accumulation Program. Public Gold's official terms define it as a way of buying gold through regular accumulation for personal use. In practice, you don't need to buy a whole bar at once. You buy with small amounts of money, and each purchase is converted into a weight of gold in grams.

The first thing to be clear about: GAP is not a financial product or a deposit (GAP terms, clause 1.2). It is not a bank savings account. There is no interest or dividend, and the value of your gold depends on the gold price on the day you check or sell.

Step 1: Open an account

You need a Public Gold account in your own name. You can register yourself through the official form, or with help from a registered dealer such as us. The account is yours, and the gold in it is yours, not the dealer's.

Step 2: Buy gold, a little at a time

The minimum purchase is RM100, or multiples of RM50, or 1 gram (clause 1.8). Your payment is converted into a weight of gold to 4 decimal places, for example 0.1692 gram. So even if RM100 isn't enough for a full gram, you still own that fraction.

Payment must be cleared before a purchase is completed (clause 1.13). If you place a purchase order and then cancel, a cancellation charge may apply (clause 1.17).

Public Gold sets the price daily, taking into account the world and local gold markets and currency (clause 1.10). That is why RM100 this month may buy a different weight from RM100 last month.

Step 3: Your gold is held for you

The gold you buy is kept by Public Gold in its storage facility (clause 1.3) and is backed by physical Au999.9 gold at all times (clause 1.9). Public Gold charges no storage fee on GAP gold (clause 1.16).

Step 4: Check your records

Every purchase comes with a Tax Invoice showing the purity, weight and price (clause 1.4). Every transaction, whether a purchase, withdrawal or sale, is recorded in your GAP Statement in Public Gold's system (clause 1.5). Check it regularly so you know how many grams you own.

Step 5: Your options when you want to use the gold

• Sell back to Public Gold: on any business day, through the GAP system or at a branch. Minimum 1 gram (clauses 3.1–3.2). Money is credited to your bank account: confirmations before 4.00 pm are paid the next business day, after 4.00 pm within 2 business days (clause 3.5).
• Withdraw physical gold: minimum 1 gram, in multiples of 1 gram. You choose from the products offered, and a Gold Premium charge applies (clauses 2.1–2.4).
• Minimum balance: keep at least 1 gram so the account stays active. To withdraw or sell everything, the account is closed (clauses 2.5, 3.3).

The risks to understand

The GAP terms ask customers to consider all the risks of buying precious metals (clause 1.7). The gold price can fall. The buy-back price is also lower than the purchase price (see the article on spread). If you sell soon after buying, you will most likely receive less than you paid. GAP suits long-term saving with spare money, not your emergency fund.