What is gold saving?
Get to know the company, the gold savings programme and how regular saving works.
What is a gold savings programme?
The gold company where your account is opened buys and sells 999.9 fine gold in Ringgit through a nationwide branch network. In Sarawak, its branches are in Kuching and Miri.
A gold savings programme lets you buy gold a little at a time, on a regular basis, for personal savings. Key points:
- It is not a financial product or a deposit, and it is not protected by PIDM.
- Your gold is held by the company, and every gram is backed by physical 999.9 gold. 999.9 means 99.99% gold, i.e. 24K gold.
- Every purchase comes with a tax invoice, and your transactions appear in your account statement.
- The minimum purchase is RM100, or multiples of RM50, or 1 gram. Weight is recorded to 4 decimal places.
- There is no storage fee for gold held in the account.
- The company sets the price every day.
The value of gold can go up or down, and returns are not guaranteed. Read the full terms before you start.
How regular gold saving works
The idea is simple: pick an amount, say RM100, and buy at a fixed interval, for example every month. How many grams you get depends on the price on the day you buy.
Example: RM100 ÷ today's price per gram = the grams you receive. RM100 a month for 12 months = RM1,200, divided by the price per gram each time you buy.
Prices change every day, so the grams you receive will differ from month to month. Nothing is guaranteed. Check the official live price ↗.
Tip: use spare money, not your emergency fund.