The Perth Mint’s Depository Online (PMDO) digital trading platform now features a convenient saving plan option for investors wishing to acquire gold and/or silver on a monthly basis.
PMDO is one of the Mint’s suite of ‘buy and store’ investment programs managing more than AUD 3.1 billion worth of precious metal on behalf of 30,000 clients worldwide. Offering 24/7 trading with live metal pricing, PMDO is easy to operate, completely secure, and comes with the unique backing of a government guarantee.
Perth Mint Depository Manager John Durham said the new savings plan was designed for investors who wanted a hassle-free method for accumulating precious metal over time. He explained:
“Serious gold bugs, mum and dad investors, even grandparents acquiring a pot of gold or silver for their grandkids, can take advantage of the one-time setup and relax knowing their objective will be met through automated monthly transactions of the PMDO savings plan.”
The savings plan allows customers to meet their specific budget with a minimum transaction requirement of just AUD 50.00 per month up to AUD 5,000.00. An exclusive benefit for those buying precious metal through the savings plan is a discounted rate of 50% of the applicable transaction fee.
Precious metal purchased within the savings plan is stored in The Perth Mint’s high-security vaults on an unallocated basis – which means that there are no ongoing storage fees. Unallocated metal can be sold at any time; alternatively, clients can pay a fabrication fee to convert their metal into finished bullion products for collection.
Set and forget
Savings plan transactions are actioned on the first working day of each month and funded from cash transferred by the client to their PMDO account. To ‘set and forget’ the savings plan, clients need to establish a regular electronic transfer of funds from their personal bank account.
A savings plan can be terminated by the client at any time, or will cease when they have insufficient cash available in their PMDO account.
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