Wednesday, 12 February 2014

How I came about gold

When I was younger, I didnt care much about keeping gold bcos I only came across grown-up women who wear them as accesories. My mother used to ask us the daughters to wear the gold chains or bracelets especially when it was Hari Raya. I never really liked the idea but I wore them anyway and quickly took them off and returned them back to her once the Raya celebration was over.

I have to admit that I have many close kins who are in gold business, having own jewellery shops and they are very successful. Once I asked my cousin how did he do it. He told me that when selling jewellery especially those with stones, he could easily mark-up the price as long as it is agreed by the customer (since the gold price is already fixed). Ah, I see..

No, not mine.
When I was engaged and married, I had my own gold rings and a bangle as gifts from my husband. Then again, I didnt wear them bcos #1-afraid they will be scratched #2-I really dont want to be the target of snatch-thieves, so I just kept them in the drawer at home. But that didn't spare me from being a victim of house break-ins. All was taken including a pair of gold bangles belonged to my mother. I'm so sorry, Ummi. I will replace them with something better inshaAllah..

That incident somehow made me appreciate the precious metal more (though I was left with none!). I heard about gold price going up and down, I believe it is the best form of long-term saving/investment but I wasn't sure of the method. I know there are many gold retailers out there but I wasn't sure if I can get the best from them. Afraid that the price might be manipulated by the seller (with the workmanship charge etc).

Until my husband gave me an 'assignment', that is to find the best place to buy gold for our savings. I wasn't really looking very hard, but one day I came across an article regarding financial planning on FB. The article brought me to mohdzulkifli.com owned by En. Mohd Zulkifli Shafie (whom I regard as my mentor now, also happens to be my brother's high school friend- what a small world).

He has written many posts on gold, business, tips and advices on financial matters. He himself keeps gold as wealth protection. I basically read about all important things I need to know about gold from there, so I thank him bcos he has done the homework for me! First thing before you jump into buying gold is to have the KNOWLEDGE so you do what's best for you. Read here for why I go for physical gold and here for the reasons I chose Public Gold.

30th Dec 2013, I placed the first order (on behalf of my husband) and fortunately the price was almost at the lowest point of the year, Alhamdulillah. All done remotely- online, bcos we were not in Malaysia at that time. The purchase also qualified me as a Dealer. The main advantage of being a Dealer to me is I get monetary incentives with my own purchase.

When we went back, we collected the gold for the first time and yeah, it felt good :) I am sure we have made the right decision of protecting our wealth in physical gold. Since then, there was no turning back. I placed more orders as I wanted to grab the opportunity to the max. 

Time has proven that gold is the least risk investment in its own class of asset. I never felt any more confident in investment than this way. Although I am also a Unit Trust Consultant registered with FIMM, I find it hard even to convince myself in unit trusts bcos there is just too much risk. 

Now that I have taken that first step towards gold, I would like to create the awareness amongst others too (especially now when the price point is still good!). I'm beginning with this humble blog of mine dedicated to those who would like to venture into this 'golden journey' with me. Or just anyone who might benefit from my writings, inshaAllah.

Norazharina Mat Amin
PG040197
azharina.amin@gmail.com


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