Ok, sorry, I didn't check back on this thread. Here are my answers.
Gold is considered a commodity (precious metal). But in terms of currency, bring a physical gold bar to any financial institution in most countries and most likely, they will recognise its value and are willing to trade it with money.
There are many methods of investing in gold and hence the minimum amount to invest, would vary according to the investment method chosen. Here are some of them:
- Start a Gold Savings Account with UOB
- Invest in StreetTracks Gold ETF on the SGX
- Invest in gold mining companies overseas
- Purchase physical gold bars/coins
- Gold unit trusts
I would prefer to own physical gold. That's my personal preference. You can get it via UOB at Raffles Place.
If we talk about investing in gold-related funds, I would prefer the StreetTracks Gold ETF more than any other Unit Trusts. It is also my personal preference not to do any DIY investment in Unit Trust.
For anyone who is interested in investing in gold, please feel free to check out my blog to learn more.
Here's again, is a short-cut to my blog posts on gold in my blog.
http://askchrishow.com/category/gold-investing/
