Gold- How Much My Uncle Earn?
My uncle bought 100g gold from a Gold Trading Company (refer to my previous post) 9 months ago. He paid RM13k for the 99.9 pure gold.
For the past 9 months, he has been receiving rebate 2.5% per month= RM325, so total is RM325 X 9= RM2,925
Now what he is having? He is holding a 100g of physical 99.9 pure gold, worth also about RM13k, plus his pocket now richer by RM2,925.
Not bad right?
Unlike traditional physical gold holding, the holder does not get any dividend. But if you buy from the gold trading company, they will rebate you 2.5% every month, which is about 30% per year.
What is your risk if the gold trading company go bankrupt? You still hold a physical gold, like what we are wearing, in our drawer, under our bed or in our safe deposit box.