SGPMX Use Gold held in Singapore as collateral for a loan

[kyler565]

Singapore usually has lower interest Rates . It could be interesting to buy Gold or Silver in Singapore and use it as collateral for a loan

 

[fc70]

Soon to open Battle Bank in the USA will soon do this.

 

[JohnnyDoe]

So you send $100k to a bank, they give you a piece of paper stating that you own gold for that amount, then they give you back $80k and you pay interests on that

 

[belarus]

So you send $100k to a bank, they give you a piece of paper stating that you own gold for that amount, then they give you back $80k and you pay interests on that

is that good business?

 

[JohnnyDoe]

is that good business?

It surely is for the bank

 

[belarus]

ahh okay, so bad business for us, good for the bank. I pass

 

[kyler565]

Singapore free zone is supposed to be one of the better places to store physical Gold . And lower intrest rates than the US . It may not be alternative way to get some leverage on Phisical Gold the other way is Buy the Phisical Gold ETF in a brokerage account with some leverage given by your broker