Can I liquidate gold all in one go to meet fund requirements for Express Entry?

[boixos24]

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!

 

[Radmin]

This is not reccommended, going from low or zero balance to large sums of deposits are kind of a red flag.

 

[boixos24]

For the past 3 months, I've been saving my monthly salary in my bank account without touching it. Initially, I considered buying gold for six months, then selling it and keeping the cash in the bank for the remaining 6 months in order to meet the six-month balance history requirement. However, this feels counterproductive since the gold would just turn into cash for the last 6 months, defeating the purpose of using gold as a hedge against devaluation.


Now I'm thinking about purchasing savings certificates for a full year. These certificates last three years, but I can withdraw the original principal after six months. If I time it right, I could have them at least six months old when I apply, making them "liquid" and hence can be withdrawn at any time.


It's also worth noting that buying foreign currency is not an option due to restrictions.


What do you think is the better approach: buying gold or savings certificates? I'm open to other suggestions as well. Any advice would be greatly appreciated, thanks.