It’s been more than 3 years since I invested with HelloGold. Prior to investing with them, I invested in gold via CIMB Gold which I later sold to pay for my car deposit. My investment with them started in July 2019 after I met the team to discuss a possible collaboration. After the meeting, I began to use the platform & invested with them. The overall experience is good as the platform is quite simple & user-friendly.
What really triggered me to write this post on HelloGold is the amount I have been able to save & earn since July 2019. Before we go into further details, let’s look into gold price history for the past 5 years. If you are investing somewhere between 2018 to mid-2019, you are guaranteed to make more than a 30% return based on the current gold price.
In my case, I started to invest RM50 a month from July 2019 to September 2020 & I have later increased my investment to RM200 in October 2020 until today. The reason is that I used to invest in 1 gram of gold via CIMB Gold each month & after I sold all my gold with a profit to pay for my car down payment, I switched all my gold investments over to HelloGold. As of today, my total investment with HelloGold is RM5,701.05 & the total value of my gold investment is RM5,351.82 (23 grams). That is an RM349.23 loss so far. By analyzing the data & investment trend itself, the reason why I was making a loss is because of the increment of investment I made with HelloGold from October 2020 onwards.
I know it really sounds terrible when I put it that way especially since many of us hate making losses when it comes to investing. If we take the whole trend of my gold investment since I started to invest via CIMB Gold in early 2017, the average price of my gold per gram was around RM170. In fact, when I sold my CIMB Gold investment in September 2020, I managed to make a profit of RM2,185.30 by selling 39 grams of gold. So if we take the profit of RM2,185.30 minus my RM349.23 loss, I am still making a profit of RM1,836.07 since I started investing in gold in early 2017.
One of the things that I found that have increased with HelloGold is their Administrative Fee. Based on my research, they are charging 2% annually which is calculated daily & charged monthly. I did not keep track of how much their previous Administration Fee was but based on the historical amount that I have paid monthly, they used to charge me an average of 0.005 grams before November 2021 & currently they have increased it to 0.02 grams per month. It could be due to the increase in my gold investment with them or maybe they have increased their Administration Fee. Based on the current price of gold published on the HelloGold app, 0.005 grams is RM1.25 & currently, I am paying RM5 based on 0.02 grams of Administration Fee. That is a significant increase if we are comparing it to the percentage itself.
Anyway, based on my overall investment in gold, I am truly happy with my investment return so far since I have invested since early 2017. It is definitely a good hedge against inflation & currency. To understand more about gold investment, you can check out my previous post on 5 Reasons Why Gold Should Be Part Of Your Investment Portfolio. Also if you are interested in investing with HelloGold, you can use my Referral Code: TANH03CE to support my blog. As always, thank you for your support.
OSS!
You can also check out my latest YouTube video on How To Invest Like Warren Buffett:
