How to Buy Gold in South Africa
What is called gold?
Gold is a chemical element with the atomic number 79 and the symbol Au (derived from the Latin aurum, “gold”).
What are the properties of gold?
1. Gold conducts heat and electricity.
2. Gold is ductile, hence can be drawn out into the thinnest wire.
3. Gold reflects heat and light very well.
4. Gold is malleable, so it can be flattened into incredibly thin sheets.
What purposes does gold serve?
Gold is a pricey, yellow metal that is used to create coins, jewelry, and ornaments as well as an international unit of account.
What are the benefits of buying gold?
1. A reliable store of value that protect your wealth
2. It’s a tangible asset.
3. Gold is also easy to convert to cash (liquid).
What are the drawbacks of buying gold?
1. Long-term returns may be lower.
2. Gold doesn’t provide regular income unlike real estate.
3. Incur additional costs storing the gold.
Can I buy gold in South Africa?
You can buy gold in South Africa at the following websites:
1. SA Bullion
2. LPM
4. IBV Gold
Where can I buy gold coins in South Africa?
Gold coins, including Krugerrands, can be purchased from the South African Mint, Johannesburg Stock Exchange (JSE) or authorised coin dealers.
How to buy gold in South Africa?
1. Go to www.sabullion.co.za
2. Click on “Start Dealing”
3. Click on “Get Started”
4. On the left hand side lies a filter. Select “gold”
5. Click “buy” on the chosen gold to see more details.
6. Determine the quantity of the gold.
7. Click on “Add to Basket”.
8. Click on “Continue Shopping” or “Check Out”.
9. Checkout and pay.
10. Click “Open Shop Account” to create an account in order to buy the gold.
11. Select delivery location, date and time.
12. Finalise checking out by entering your debit/credit account details.
How much does gold cost in South Africa?
The current spot price of gold in South Africa is ZAR 29 344.62/oz (US$ 1 795.37/oz.).
