How to trade gold and silver in Singapore
Singapore is the gold and platinum capital of Asia, but it’s not the only place where you can get a gold and/or silver fix.
Aussie gold and metal expert and columnist David G. Anderson says there are plenty of places where you could buy precious metals with the proceeds of your gold or silver investments.
Gold and silver markets in Singapore are relatively small compared to the US and Japan, but gold prices have been soaring over the past year and gold and other precious metals have been on a tear.
The gold and foreign exchange markets are a bit of a wild west in Singapore.
Singapore is a city that has seen many gold rushes in recent years, but these days, the city’s gold and precious metals traders are looking to cash in their investments.
“The market is a bit smaller, but I think you can still get a good price out of your investment if you go to the right spot,” Anderson said.
“For me, the best place to buy gold in Singapore is in the Kowloon district of Kowloo, which has a fairly small market.
If you go there, you’ll get a lot of great bargains, and it’s definitely the place to go for gold in the area.”
Singapore’s gold market was boosted by the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB) in January, as part of the new Asian Infrastructure Development Bank.
Gold prices spiked, and gold imports surged, from about $4,000 an ounce to nearly $100,000.
Gold prices were also buoyed by a surge in Chinese demand for gold, especially in Asia.
“It was a great time for gold because China’s central bank was giving its money to gold, and a lot more people were buying gold,” Anderson explained.
Gold prices also jumped when the US Federal Reserve began to raise interest rates, and the S&P 500 index was also on a bull run.
The boom in gold was a boon to Singaporeans who were struggling to make ends meet.
Anderson said it’s good to see that gold is getting more popular in Singapore because people are more confident about investing in the gold industry.
“I think people in Singapore know that they can do a lot with gold, but they don’t have the financial skills to do it in the same way that they could in the US,” he said.
“So people have started to do things like buying gold bars at a higher price point to try and diversify their portfolio.”
If you have the ability to diversify, you can invest in things like mining, metals, and mining futures, and then you can buy gold at a much higher price,” he added.
Gold and precious metal futures markets in Hong Kong are also a great place to trade.
A dollar for gold price is around $2,200, compared to $2 in Singapore, according to Anderson.
Anderson said gold is a great investment in Hong, because it’s cheap and can be traded for gold for a long time.”
You can’t just go out and buy gold,” he concluded. “
And Hong has a lot to offer because it has the best infrastructure in the world, which means you can access the global financial system.”
Gold futures prices have also spiked in Australia, from $1,500 per ounce to $3,200. “
I think Hong is one of the most diversified markets in the Asia-Pacific, and there are many ways to invest in gold.”
Gold futures prices have also spiked in Australia, from $1,500 per ounce to $3,200.
In a recent article, Australian gold miner Tony Gennaro wrote about buying gold and selling it in a market that is becoming increasingly crowded.
Gennaro says the recent surge in gold prices is due to a number of factors, including a growing Chinese demand and the fact that many people are starting to consider alternative investment avenues.
“In the US, it’s just not a lot cheaper to buy a piece of gold, so you see gold prices going up all the time, especially because China is taking a bigger interest in gold,” Gennero wrote.
“When you’re selling a lot, it means you’re really putting a lot into a portfolio.
Australia’s Gold Prices have spiked as gold prices soared over the last year.
Australian gold miner Peter Lohse said gold prices had risen from around $1 per ounce in early 2014 to $1.50 an ounce by mid-2017.”
This is due in part to the fact, and this is not a coincidence, that China has increased its demand for the metal,” Lohs said.
As gold prices continue to rise, Australian mining companies are starting, as the industry calls it, to sell their precious metals in the United States, as a way to raise cash for exploration and development in the lucrative Australian