HSBC is a vast financial services company that provides banking and market solutions to over 40 million customers worldwide. The organisation has operations in 64 countries, including Europe, Asia, the Middle East and Africa, North America, and Latin America.
Gold investment accounts allow investors to invest in gold without having any physical assets. Gold can be beneficial if you want more diversity within your portfolio while maintaining stability through diversification with other investment products. In Malaysia, only certain banks provide gold investment services.
Customers must be 18 years old and above to open an account.
Your investment may be volatile and exposed to market forces. If the conditions change for the worse, your funds may also lose their value.
In the event that market conditions change, your investment may be at risk. Though gold is considered one of the world’s safest investments due to its durability and security from inflation or significant fluctuations in value- it will not protect you against losses!
Prices of gold may fluctuate daily. Customers may gain profit if the international gold price appreciates above their initial payment. However, there is no guarantee that the price will go up and fall.
When you withdraw your GLD from the account and convert it into MYR, you may not receive the exact amount as the initial payment.
Not protected by authorities
A gold investment account is not covered by Perbadanan Insurans Deposit Malaysia (PIDM).
XAU is the international standard currency code for 1 troy ounce of gold. 1.00 XAU represents 1 troy ounce of gold, which equals to 10.00 units of GL.
There are no fees for the HSBC Gold Account.
HSBC Gold Account is made available through the HBSC Bank branch network only. All applications and transactions on your HSBC Gold Account can only be conducted over the counter.
Minimum initial purchase
The amount of gold you need to start an investment account. It depends on the bank and type, but it can be as little as 1 gram or more!
The minimum amount of gold needed to maintain your gold investment account.
Minimum subsequent purchase/ sale
The minimum amount of gold you must involve in any transactions when buying or selling via your gold investment account.
The difference between a bank’s selling price and buying price for gold investments account. For example, you get gold at RM240, and the bank repurchases it at RM230. The buy-sell spread is RM10 (RM240 minus RM230).