Hassle free way for you to invest in Gold thru the Singapore Stock Exchange.
The SPDR Gold Shares ETF
Effective 30 June, dual currency trading will be introduced to the SPDR Gold Shares ETF which will commence trading in a secondary currency of SGD (Code: GSD), with the primary trading currency remaining the USD (code: O87). As the unit holdings executed via SGD and USD counters are custodised in a consolidated pool at the depository, investors can buy one currency counter and sell in the other currency counter.
The non-SIP ETF, also included under the CPFIS-OA, has a minimum board lot size of 5 units (approx. 0.47 ounces of Gold), which at a current unit price of US$166.00, has a value of US$830 (approx. S$1,110). The SPDR Gold Shares ETF was the most traded ETF listed in Singapore in 2019 and 2020, and the second most traded ETF in the 2021 year to date.
The SPDR Gold Shares ETF has averaged daily turnover close to US$4.0 million since the end of 2019, which compares to average daily turnover of US$1.7 million for the three years pre-COVID.
The descending triangle pattern can be a great indicator of trend continuation, but it does have its limitations too:
| ADVANTAGES | |
|---|---|
| Easy pattern to identify | |
| The descending triangle produces a clear target level – based on the max height of the descending triangle | |
| LIMITATIONS False breakouts are possible (traders need to manage risk accordingly) There is always a chance that price moves sideways for an extended period of time or even moves higher Since this is an intermediate-term pattern, traders have the option to trade within the triangle but should filter trades in the direction of the trend |
Hopefully, Singtel can improve its earnings capacity through digital banking. Its current cut throat telco business is getting worse year by year if you look at its yearly financial performance.
In the news:
Grab-Singtel, iFAST apply for Malaysian digital bank license
Bank Negara Malaysia is expected to issue up to five licenses by Q1 2022.
The Grab-Singtel joint venture and Singapore-based investment solutions firm iFAST Corporation have separately applied for a digital bank license in Malaysia.
In separate announcements, the two entities said that they have submitted applications for a digital bank license to Bank Negara Malaysia. Malaysia’s central bank is expected to issue up to five digital bank licenses by the first quarter of 2022.
