Buying my first gold

REGISTER A PUBLIC GOLD ACCOUNT

Registration is easy. You can do it on your own, online. You will need to upload a copy of your MYKAD or PASSPORT to the site for identity verification. There is a part where you must put down the PG Introducer Code. It can be either the company itself with their code PG000000.

Or choose any other member’s PG. I used my friend’s PG Code instead of the company’s because it will affect remedial methods later, should you wish to change your introducer. I will explain this in subsequent posts/comments. In fact, you can choose anybody’s PG Code online just for the purpose of registration if you do not have any specific interest in paving your way as a gold entrepreneur.

My code is PG00900275

[Disclaimer: If you do use my code as an introducer, I would like to inform you that with any purchase of gold you make, I will receive a 1.5% commission. It does not affect the amount of money you have to pay for your gold but I thought I should just tell you that].

My account verification took less than an hour and to activate my own personal PG code, I’d have to purchase my first gold within the next 24 hours.

BUYING GOLD

There are 3 ways of buying gold with Public Gold.

  • outright purchase
  • easy payment purchase
  • GAP account

OUTRIGHT PURCHASE – this means buying physical gold in the form of a gold bar. They are available in various grams and is purchased online through the website or app. You can choose to buy the gold in lump sum or through Easy Payment Purchase (EPP).

EASY PAYMENT PURCHASE – basically buying gold through an instalment plan. The maximum number of months for EPP is 6 months. Once the payment is completed, the gold can be collected or requested to be sent over to your home with a postage fee. Some buyers like to use this method to secure the gold when the price dips. Therefore the instalment is paid at a low price despite the increased rates later on.

GAP account – this method is preferred for those who are on a budget each month. You can buy gold for your GAP account for as low as RM100/month. This means that although the rate is RM305/1 gram – if your budget for the month is only RM100, you’d still get to buy 0.32g worth of gold and keep it in your GAP account. Furthermore, there is no pressure to buy gold every month if you are a normal buyer. If you have the money, you buy. If not, it is fine.