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 HelloGold - Ask Me Anything, related to HelloGold or gold in general

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xot901027
post Apr 25 2019, 05:10 PM

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Sorry dumb question here, just bought RM500 gold last night at about 168.7/g and I get about 2.679g of gold. When I was trying to sell off 2.679g of gold today at price 170+ it shows I will be getting RM489+ only.

I understand that there will be a 2% processing fee, but 489 is definitely not what I expected, I thought I will be getting more than rm500 since the price hike lol

Does any pros mind teach newbie here?

This post has been edited by xot901027: Apr 25 2019, 05:11 PM
xot901027
post Apr 25 2019, 06:35 PM

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QUOTE(Shalidar @ Apr 25 2019, 05:25 PM)
First, how did you purchase the gold? Direct purchase, or you top up your account with RM500 first before purchasing using your HG wallet? Purchase/Top up using Boost or not? If any modes other than Boost, you will have surcharge as stated in HG FAQS here: https://help.hellogold.com/en/top-up-processing-fee/

Second, don't forget you have a 2% processing fee, even at the stage of purchasing your gold. So you already received less than RM500 worth of gold.

Third, there's another 2% processing fee for selling your gold. So that reduces it even further.

But one thing that I'm surprised is that you only received 2.679g of gold when you purchased RM500 worth at 168.7/g. By my calculations, assuming there's only 2% processing fee (without RM1.20 top up fee) you should be getting like 2.8g+ or something. Perhaps we need some other sifus to explain how to calculate conversion of RM500 to gold  notworthy.gif
1 night only, the storage fee or administrative fee is practically non-existent lah since it's 2% per annum only
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oh, my bad, bad memories hehe it's 2.939g..
but I still don't get why when I sell off this 2.939g at a higher price I get lesser than RM500 lol

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