QUOTE(property101 @ Sep 23 2011, 03:43 PM)
selling price = (usd spot price x currency conversion) + seller own transaction cost + a fixed profit margin
where
spot price and
currency should follow a live source where the public have access to
the purpose is for transparency so that the buyer would know what deal are they getting into
I think only a few company in asia will be that transparent, like silver bullion and such. If you check their website, their price really move with the spot price, and they will sell to you at the price you click buy. Very transparent. If they are not, they will not survive in singapore for even a month.
Recently a new company opened up and was not transparent enough, kena all forumner shoot until peng san... now they followed all the feedback and are very transparent.
So now you guys know why singaporean famous for complaining, complain complain complain .... doesn't work many other place but it sure work in singapore...

So far 1stop gold, mysmartgold and nubex in malaysia tried, with a spot rate running, but when they see they are loosing money, they stop updating their price or totally remove them and say out of stock or something.
chef
Hey, is the market crazy or are we nuts? What's the fundamental news that's pushing it SO FAR DOWN? I'm sure some news will leak next few days to warrant the drop, but it sure is unnatural, anyone catch any news about this? if it's just pure speculation, it will bounce back fast and hard, if it's because of some real bad news for silver, then it's going to stay low for a longer time.
This post has been edited by chef: Sep 24 2011, 01:35 AM