You can buy or sell precious metals in a few simple steps within the Hugosave app.
For example, If gold is the precious metal chosen for trading:
- Navigate to Invest, and click on Precious Metals.
- Click the on "Gold".
- Select either "Buy" or "Sell" from the bottom of the page.
- Enter the amount you wish to buy or sell (the live price will show you the cost per unit weight).
- Click "Preview".
- Review the "Preview" screen - you get a few seconds to confirm the trade before the quote expires.
- Your trade is now executed!
Bear in mind that as we trade precious metals with the live market, you can only trade during market open hours. Market trading hours are as outlined below:
| Closed (SG time) Daylight saving |
Closed (SG time) Non Daylight saving |
|
| Monday | Opens 06:00 | Opens 07:00 |
| Tuesday | 04:00 - 05:00 | 05:00 - 06:00 |
| Wednesday | 04:00 - 05:00 | 05:00 - 06:00 |
| Thursday | 04:00 - 05:00 | 05:00 - 06:00 |
| Friday | 04:00 - 05:00 | 05:00 - 06:00 |
| Saturday | Closed after 05:00 | Closed after 06:00 |
| Sunday | Closed | Closed |
If you are out of hours the preview screen will state Market Unavailable.
Note:
Buy trades are settled instantly in your Hugosave vaults with cash debited from your Save Account. As you can only buy precious metals with funds available in your Save Account, Hugosave will use those funds to execute the buy and guarantee the quoted price.
For sales, the precious metals get sold instantly to the market and the cash from sale gets received from the market in two business days on a T+2 market settlement. The proceeds get deposited into your Save Account. We will always make the settlement date clear and the transaction status will change from "Pending Settlement" to "Settled", once complete.