Gold is a precious metal that can act as a buffer to diversify your portfolio. HelloGold and Public Gold are two main ways to buy gold without going through banks. In this article I’ll break down HelloGold vs Public Gold to help you decide which is the best option.
HelloGold Vs Public Gold
HelloGold is a fintech that started in 2015, offering Malaysians a way to buy gold online using their convenient app. Users can opt to purchase gold as low as RM1 and pay via supported e-wallets such as Boost and GrabPay, or by FPX.
Read my HelloGold Review here if you haven’t already.
In comparison, Public Gold has a longer track history since 2008. They are a precious metals trading company dealing in physical gold and silver bullions. They have also established other businesses such as PG Mall.
What you are buying
HelloGold allows you to invest in LBMA gold as low as RM1. The physical gold is kept at their vaults in Singapore, and is redeemable when you have 1g.
Public Gold enables you to directly buy gold physically. This means you pay and get the physical gold products in hand, such as LBMA Gold Bar, Dinar, Bungamas etc.
Minimum Amount
HelloGold: RM1
Public Gold: RM100 (Gold Accumulation Program)
Fees
HelloGold Fees
- Administration fees: 2% annually, calculated daily and charged on monthly basis
- Processing fee: RM1.20 if buy through online banking, free if buy using Boost or Touch n’ Go eWallet
- Redemption fee: applies if you want to take physical delivery of your gold.
Public Gold Fees
- No obvious fees, selling price includes all costs
Spread
Spread is the difference between the ‘buy’ and ‘sell’ price. This margin is how the platform or company makes money.
| Company | Buy | Sell | Spread |
| HelloGold | 281.18/g | 268.46/g | 12.72 |
| Public Gold (LBMA Gold Bar 10g) | 302/g | 275/g | 27.00 |
Ease of Purchase
You can buy gold easily via HelloGold app which displays the latest spot gold price.
For Public Gold, purchases can be made online but you’ll have to get the physical gold yourself at any of their Public Gold branches nationwide.
Shariah compliance
Is HelloGold Shariah compliant? Yes
Is Public Gold Shariah compliant? Yes
Both HelloGold and Public Gold are shariah-compliant, so no worries there.
Regular Savings
Both HelloGold and Public Gold has some kind of program in place to help you save regularly.
HelloGold’s Smart Saver program allows you to start saving in gold at a low RM30 monthly.
Public Gold’s Gold Accumulation Program (GAP) is RM100 monthly.
Verdict
So what’s the verdict in HelloGold vs Public Gold? In my humble opinion, I think both HelloGold and Public Gold have their advantages and disadvantages.
HelloGold is cheaper compared to Public Gold, but they have an annual fee. But when you consider the fact that this includes all their storage and insurance costs, it’s not so much considering the peace of mind you get. Also, it’s very convenient to buy gold online with multiple e-wallet suported ie Boost, GrabPay etc.
Bonus: Use my code BONG05R6 to get RM5 rebate when you purchase your first gold! Buy a minimum of RM50 to get this extra reward. Click here to start buying gold with HelloGold app
Public Gold is more expensive due to the fact they need to pay their dealers and all associated costs. Plus you’d have to deal with the headache of storing your physical gold securely (if you decide to redeem the physical gold).