Can we Use CPF money to buy Gold?

[hockbeng]

It seems like hyperinflation is on the way.

Our CPF paper money will be worthless when we reach 65!

Can we use it to buy gold instead?

http://www.europac.net/videoblog.asp?a=watch

 

[0939]

Buy yourself a property, by the time you reach 65, your property will appreciate better value.

 

[Leongsam]

The smart ones bought gold at USD400. They're the ones selling the stuff to you now at USD1100!

You're buying when everyone else is buying. No prizes for guessing what will happen next.

 

[Ramseth]

Yes, but only CPF-OA above S$20k. You can invest in gold ETF on SGX (accounted in number of shares) or direct gold with UOB (accounted in ounces). CPF-SA cannot.

 

[Ramseth]

The smart ones bought gold at USD400. They're the ones selling the stuff to you now at USD1100!

You're buying when everyone else is buying. No prizes for guessing what will happen next.

I tend to agree with you. Gold's too expensive now for investment.

 

[Equalisation]

Do not be idiotic and buy gold now. Many have made their money already. You are too late to chase. If you really want gold, dig your nose ....

 

[pia]

Do not be idiotic and buy gold now. Many have made their money already. You are too late to chase. If you really want gold, dig your nose ....

Gold is just a hedge against the volatility of the equities market. I bought mine around USD700/oz. Although sitting on 25% profit after GST, the same money invested into the stock market would have brought me several times more profit.

If you believe the US is printing paper money like crazy to sustain it's burgeoning debts, gold is a refuge for your money for some time yet. But don't expect a windfall.

Just my 2 cents worth..

 

[Leongsam]

Gold is just a hedge against the volatility of the equities market. I bought mine around USD700/oz. Although sitting on 25% profit after GST, the same money invested into the stock market would have brought me several times more profit.

If you factor in the exchange rate differential, I doubt if you've made much money.

 

[hockbeng]

Yes, but only CPF-OA above S$20k. You can invest in gold ETF on SGX (accounted in number of shares) or direct gold with UOB (accounted in ounces). CPF-SA cannot.

That's the problem. Since the SA would be sitting there for 25-30 yrs or more, might as well buy gold. That's the best hedge against inflation. It's too obvious what the central banks around the world is doing. Our SA $$ will be worthless; that's for sure!

So in the long term, gold will most likely preserve its value.
I'm not talking about short term gains like some idiots in this forum. Thats why I'm talking about CPF money.

Of course our Gov will never allow us to do that!

 

[flyingdagger]

are you sure we can?