Gold investment 101: Avoid get-rich-quick schemes, prioritise physical ownership - Expert
Expert warns investors on maturity dates, physical possession
SHAH ALAM - Gold investment expert Mohd Zulkifli Shafie dispels common misconceptions held by new investors, particularly regarding maturity dates.
"Our gold holdings can be securely stored by ourselves, without any obligation for maturity periods for future claims.
"Any claims suggesting otherwise should raise concerns," he told Sinar in an interview recently.
Zulkifli cautioned that such claims could be indicative of potential issues, ranging from veiled get-rich-quick schemes involving gold to potential Syariah non-compliance matters.
He stressed the importance of physical possession of gold investments to safeguard investors' wealth against unforeseen events involving the gold investment companies.
To mitigate risks and ensure sound investment practices, Zulkifli advised prospective investors to grasp four fundamental principles before committing to investment purchases.
"The fundamentals include ensuring that buying gold equates to acquiring physical gold, understanding that gold does not yield income, investing for long-term savings, and recognising that profits are contingent on knowledge," he stressed.
He further warned that even purchasers of physical gold could fall victim to deception, such as acquiring metal coated with gold, highlighting the importance of vigilant investment practices.
"Those who believe in acquiring gold without physical possession may face costly lessons in gold investment," Zulkifli added.
