Not only saving money, the term saving gold may also already be heard plural. Indeed, along with the increasing public literacy in the financial world, various investment programs and products are now being issued to support this. One of them is saving gold. What do you think is saving gold? What is the difference from buying gold and what are the advantages?
What Is Saving Gold?
Saving gold actually has a concept that is not much different from the concept of saving in general. Whether it’s saving money, stocks or gold, actually has the same concept. Only the instruments are different.
The concept of saving yourself is quite simple, namely setting aside some of the money you have for later saving. Well, saving gold is also done with the same concept, which is to set aside some of the money you have that aims to buy gold later.
However, along with the development of technology and digitalization, the concept of saving gold is now more practical. You no longer need to buy physical gold directly, and are not fixated with a certain unit of weight. So, if you have IDR 10,000 and you want to save gold, you can still do it.
What’s the Difference between Saving Gold and Buying Gold?
Whether saving or buying gold, actually has the same goal, which is both to buy gold. It’s just that, saving gold is done by way of the installment process until it reaches a certain unit of weight, for example only 1 or 5 grams. After reaching that weight, then you can claim and print it into physical form.
Also Read: Come, Learn Gold Investment and Know the Risks.
What are the Benefits of Saving Gold?
From the previous presentation, of course there are several advantages that you can get by saving gold compared to buying it directly or saving other instruments.
1. Opening a gold savings is easier than other instruments
Unlike opening a savings account to save money in a bank or saving shares that require you to open a stock account in a particular security, saving gold is more practical.
In addition to not needing to deposit the initial nominal as a condition for opening a savings account, there are not too many requirements and document requirements. Although some gold saving platforms have different requirements, the required requirements generally only fill in forms, identity cards and self-photographs.
2. Saving gold can be paid in installments, so that it is not financially burdensome
To buy gold physically, the smallest unit of weight available is 0.5 gram. But still, for how many nominal people are still quite burdensome. In contrast to saving gold, you can buy it even if it’s only 0.01 gram.
For example, the gold price is currently at Rp849.68. Well, if you want to buy 0.01 gram of gold, then you only need to spend Rp.849,68. Only when your savings touch 0.5 or 1 gram weight, you can melt it in physical form.
3. Safer storage and can be sold at any time
Well, another advantage of saving gold is certainly safer. For example, your gold savings has reached 5 grams, where the nominal has allowed you to print the gold physically. However, maybe you are confused because you feel insecure when storing it directly at home. Then, you can delay and print it later.
You can continue your gold savings until the weight continues to increase, or if you need urgent funds, you can withdraw all or part of your gold savings. Safer and more practical, right?
Also Read: 5 Gold Savings Skills Today, Easier and Safer.
Disadvantages of Saving Gold
It’s incomplete to discuss the advantages without discussing the weaknesses. Here are some of the shortcomings of saving gold.
1. There are certain weight limits to being able to print them physically
To be able to print gold into physical form, of course your savings must meet a certain threshold weight threshold. This limit is generally fixed on the general unit of weight that applies to gold bars. For example, 0.5 gram, 1 gram, 2 gram, 5 gram, or 10 gram.
Well, if you have not broken the limit, then your gold savings cannot be disbursed into physical form.
2. Not suitable for short-term savings
Just like buying gold directly, you will be charged a spread that is the difference between the selling and buying price. Well, different from saving money, where if you save and you withdraw back 1-2 months later the nominal is still not much different, generally only charged admin fees only, it is different from saving gold.
Here, you will be charged a spread or the difference in the sale price. Not to mention if the price of gold has decreased, it is definitely the value of the price is also shrinking. For that, it’s not quite right if the purpose of saving gold is done only for the short term.
Well, that’s an explanation of saving gold, the difference with buying gold, and the advantages and disadvantages that you can get compared to buying gold directly or saving other instruments.
Also Read: 4 Ways to Buy and Buy Gold and Save Gold Safely at Online Stores.
Are you interested in trying to save gold? If so, then you can start saving gold through the Gold Savings feature in the Bukalapak Mitra application. In collaboration with Pegadaian, this feature will make it easier for Mitra Bukalapak shop customers to start saving and investing in gold at affordable prices starting from Rp. 10,000.
Get it cashback Rp5,000 for each customer of the warung you invite to save gold through the Gold Savings. After successfully opening 10 customer accounts, you will get an additional IDR 60,000 cashback.
Also enter the competition for the period 24-30 June 2020 with a total prize of IDR 5 million for 10 winners. So keep using the Bukalapak Mitra app! Many advantages of the Gold Savings feature. Start saving gold here!