Since my previous post about Public Bank’s Gold Investment Account, I’ve finally made my way into the bank branch today to open an account. It’s been more than a week’s wait and I’m glad I waited. The reason – the price of gold has dropped since then. When I first checked, the price of gold was around RM94 per gram. Today when I purchased, it has come down to RM88 per gram.
I certainly have reasons to be happy for the lower price per gram that I’m paying, but I hope I have more reasons to be happy hoping that it goes back up within the year. It could be dropping further, but that’ll only make my future purchases a little cheaper. I hope that by applying the cost-averaging way of investing in the stock market also applies to this strategy I’m adopting in buying gold.
I’m still positive on the upward trend of gold and hope to see the upside by end of the year. Meanwhile, what other commodities are worth getting into? I see that many of our fundhouses are now keen to launch commodity funds, but I would prefer not to go with unit trust funds right now.
