I'm considering keeping my savings in gold to avoid the rapid currency devaluation in my country (Egypt). My plan is to buy a gold coin from a reputable seller every month immediately after my salary is deposited. I would be ordering the coin online as well, so my bank records would show the salary deposit followed by the immediate transaction for the gold coin.
In a year, I'd have 12 gold coins and basically zero bank balance. But right before I apply for Express Entry, I would sell all my gold at the same time and then transfer the cash into my account, effectively having 15K deposited all in one go.
Does anyone know if this is feasible for meeting liquidity and balance requirements, or is it a recipe for rejection? I heard something about 6 months balance, but I'm not sure about that. Any advice is appreciated!
In a year, I'd have 12 gold coins and basically zero bank balance. But right before I apply for Express Entry, I would sell all my gold at the same time and then transfer the cash into my account, effectively having 15K deposited all in one go.
Does anyone know if this is feasible for meeting liquidity and balance requirements, or is it a recipe for rejection? I heard something about 6 months balance, but I'm not sure about that. Any advice is appreciated!