Question : When is a good time to buy gold?
Answer : My Mum’s Birthday!
My First Gold Purchase
Sorry folks, I am not a gold expert and no gold price analysis here. Just that today is the first time in my life I am buying Gold. And it is for my Mum’s 72nd Lunar Birthday. What I learnt about gold today :
- 999k Gold Retail Price Today S$62 per gram
- 916k Gold Retail Price Today S$57.50 per gram
We went to Lee Heng Jewellery…neh…the one where recently married Mediacorp actress Yvonne Lim is promoting. No…not because I like Yvonne Lim that we went there, but because Mum knows a friend working there Lar! Mum tried a few bracelets and finally decided that the one shown in picture below is the one she like best.
It is 916k Gold and weighs 16.85g. Craftsmanship is normally S$100.00 but the shop gave us 15% discount at a price of S$85.00 instead. Calculations of pricing as follows:
Price = [(Weight X Price/g) + Craftsmanship] X 7% GST
= [(16.85 x 57.50) + 85] x 7%
With my wife and mother around, we managed to bargain another S$7 bucks off the Craftsmanship.
Hence Total Price = S$1,120.00
Gold Price Near to 5-year Low
I was also told by the salesperson auntie that Gold price is very low now and it is a good time to buy gold. Of course more sales pitch follows – a 2k total bill will get a free watch! So I tried on some necklaces myself BUT “No Go”…already too much money spend this month!
So no gold investment for myself this time!
Can Money Buy Happiness?
On top of the gold bracelet, I also gave my mum an Ang Pow of S$800.00 plus a Zi Char meal of S$60. Earlier me and my siblings had also organised a 10 tables Dinner cum KTV Party for mum. After deducted relative and friends’ Ang Pows, we have still need to top up S$1,380.00 per pax.
So total damage >S$3,30.00.
Worth it or not? Value for Money? I am not sure, but what I am sure is we had all seen a very Happy Mum!
Apparently my Mother in Law and Daughter’s birthday also falls in the month of May. This means more Ang Pows and nice meals, and of course more burns in my pocket. BUT more smiles and appreciations in exchange.
Hmmm…… So Can Money Buy Happiness?