Shares & Derivatives
Gold price: flying dragon in the sky!
By SG Wealth Builder  •  February 16, 2024
In the Chinese Zodiac, the Dragon is the most powerful and auspicious symbol. In this regard, how will gold price unravel in 2024, the Year of the Dragon? On 1 February 2024, I sold my remaining gold portfolio – a Canadian Gold Maple Leaf bullion that I had purchased from UOB Bank in 2014. The bullion was purchased at $1692 and divested for a profit of $1034. This represented a 61% return for a holding period of 10 years. The rationale for my recent bullion divestment was purely driven by the current bullish gold price. The last time that I had divested my gold investment was in 2017. Back then, I had made a profit of 10% on the back of buoyant gold price. I had decided to cash out to consolidate my funds for the purchase of my matrimonial home. So far, all my gold investments were made with UOB Bank. These included physical gold and gold savings account. When buying physical gold from...
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By SG Wealth Builder
Welcome to SG Wealth Builder! My name is Gerald and I hope that you find this blog useful in your wealth building journey. The motto of this blog is “to make money, to build wealth and to preserve wealth” ...
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