how to invest silver in malaysia
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 Sep 22 2011, 11:52 PM
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#61
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Junior Member
174 posts Joined: Aug 2011 
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I believe if spot can stay below 37.5 for the next 3-4 trading days, it will continue to fall further after that. There is a strong support at 37.5 which is not yet confirmed broken.
Silver price is trying to break 2 supports in one go, namely 38.6 and 37.5. Eh chef u in KL? I just got back from Kluang, just reached KL. Will you be around Damansara Heights or Bangsar area tomorrow afternoon? This post has been edited by cruzzie73: Sep 22 2011, 11:53 PM |
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Sep 23 2011, 01:14 AM
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#62
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Junior Member
174 posts Joined: Aug 2011
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QUOTE(chef @ Sep 23 2011, 12:21 AM) Hey cruzzie, this is one wierd post, you just told everyone it's time to buy, and you are selling your bars! I'm buying more and it's definitely more than what i planned for my personal keeping. So am offering to let go at a pretty good price. May not be the best in the market, but i'm doing my best.  Anyway, when we meet tomorrow, please bring along your scottsdale o.k? I will change some sunshine with you can? I got too many sunshine lah. if not it's still o.k. to meet and talk cougars and dragons... chef  There are 50 pcs only to let go. If you wanna order less than 50, just PM me and we take it from there. If you wanna order more than 50, then i just increase my order quantity to add in yours. Whatever it is, just PM me. I also have quite some Sunshines already but how many do you wanna exchange? yeah if it's convenient, then we can meet to talk cougars and chase dragons....errr i mean dragon coins. haha. Perhaps if anybody else around the area can join us for a chat over coffee too. But if you're in a rush, there is always another better time for us to meet. Added on September 23, 2011, 1:28 am QUOTE(bigwolf @ Sep 23 2011, 01:07 AM) Uncirculated coin = Mint state. Untouched, just like the day it got minted very high priced but requires special care. once scratched or tarnished, value drops drastically. another item is the first strikes, extremely rare. This post has been edited by cruzzie73: Sep 23 2011, 01:28 AM |
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Sep 23 2011, 09:50 AM
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#63
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Junior Member
174 posts Joined: Aug 2011
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QUOTE(chef @ Sep 23 2011, 09:04 AM) I think you guys missed the key word. "specimen" I've read something about specimen coins but not much details on how they were minted. Those are the equivalent of proof coins today but generally they were called "specimen" in the old days, in particular 1792-1816. Of course the technique used to make them is different from today given the technology back then was limited. But the results are very similar to today's proof mint. There has been a lot of confusion on the difference between proof and specimen due to their common characteristics in appearance. Not sure whether today they still strike specimen coins or not though.I'm quite stumped over why they mentioned specimen. was it their first trial mint or production error when miniting? chef This post has been edited by cruzzie73: Sep 23 2011, 10:00 AM |
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Sep 23 2011, 04:09 PM
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#64
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Junior Member
174 posts Joined: Aug 2011
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Business is never that simple, sellers try to make money and buyers try to save money. These are two conflicting objectives that make businesses complicated.
Adding to that, buyers would like to have more security, quality assurance, transparency (for easy comparison with other sellers) while sellers would like to have protection against business risks (costs fluctuation, forex, etc), frauds, tax, competition, etc. All these add on to the complexity of businesses. I suspect during time of high volatility like now, they may increase their provision for risks. No offense intended, just my humble opinion, all selling prices have included direct costs, indirect costs, visible costs, invisible costs, profit margin, provision for business risks, etc. It is always the invisible costs, provision for business risks, and profit margin that are hard to determine. Each seller has their own way of pricing their product/service. It is buyers' responsibility to do their own evaluation to get to know what deal they are getting into. But of course, it is also the buyers' choice which type of sellers their prefer to deal with. So, choose the sellers you feel most comfortable buying from if you are not satisfied with the current one. You determine your own criteria and see if the sellers meet your criteria or not. This post has been edited by cruzzie73: Sep 23 2011, 04:16 PM |
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Sep 24 2011, 01:04 AM
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#65
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Junior Member
174 posts Joined: Aug 2011
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Silver already 31.60.
I see that silver is going to find its next support at 31.00 but doubtful it is going to break it tonight. If it breaks that next week, the next support is at 27.50. |
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Sep 25 2011, 11:13 PM
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#66
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Junior Member
174 posts Joined: Aug 2011
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Guys, what you think the price will go tomorrow when the market reopens?
I have a feeling that it will rebound tomorrow before deciding on whether to continue its down fall to challenge next support @ 27.8 or stay above the support at 31.0. |
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Sep 25 2011, 11:43 PM
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#67
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Junior Member
174 posts Joined: Aug 2011
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Start with buying some quantity with your extra money. Its hard trying to catch the bottom, best is to buy regularly, treat it like a savings plan. By doing so you can average your buying costs and need not worry about spot price fluctuation. Treat it as a long term investment to keep the value of your assets. Set a target for yourself, by a certain time frame, how many oz you want to accumulate.
My 2-cent worth. |
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Sep 26 2011, 10:40 AM
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#68
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Junior Member
174 posts Joined: Aug 2011
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Guys, if you can't find anymore seller, PM me.
I have some 1oz bars coming in this Wed/Thu. Have some extras to let go. |
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Sep 26 2011, 11:13 AM
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#69
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Junior Member
174 posts Joined: Aug 2011
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My understanding is all imported coins are with no legal tender status. Only BNM can issue coins with legal tender status recognised by Malaysian Government. In other words, all imported silver coins are subjected to 15% tax.
This post has been edited by cruzzie73: Sep 26 2011, 11:13 AM |
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Sep 26 2011, 11:49 AM
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#70
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Junior Member
174 posts Joined: Aug 2011
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It is Import duty (5%) + Sales tax (10%). So total is 15% for all imported coins, except gold coins.
And if i'm not mistaken, to export silver article there is export tax too. Gold is the only PM totally unregulated, whether import or export, bars or coins. This post has been edited by cruzzie73: Sep 26 2011, 11:51 AM |
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Sep 26 2011, 05:01 PM
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#71
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Junior Member
174 posts Joined: Aug 2011
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QUOTE(chef @ Sep 26 2011, 03:22 PM) Funny thing is, many news are reporting that the SAFE HAVEN is now US currency, while a few months ago, these expert says US dollars is collapsing and we need a new currency to replace it. News are just reports of what has already happened. People who are "in the action" knew what's gonna happen before it happens. Those experts who give comments on changes in the market after it happened are just reporters of events, i think they don't really know what's going on at this moment, they only know it after. Hence the contradicting comments given at such a short time frame. I'm quite sure few months down the road the market will return to saying gold/silver are afterall, the safe heaven.chef Let's see what happens when Greece really defaults. Added on September 26, 2011, 5:10 pm QUOTE(magpie9 @ Sep 26 2011, 04:19 PM) lol ... Thanks for the good idea.buying if it drop every USD3 to average up ... is that a good idea ? This post has been edited by cruzzie73: Sep 26 2011, 05:10 PM |
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Sep 26 2011, 06:53 PM
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#72
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Junior Member
174 posts Joined: Aug 2011
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Patiently waiting, it will be interesting to see what happens next
By the way, my silver bars also sold out already. Thanks guys. This post has been edited by cruzzie73: Sep 26 2011, 07:12 PM |
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Sep 27 2011, 01:21 PM
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#73
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Junior Member
174 posts Joined: Aug 2011
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QUOTE(gogo2 @ Sep 27 2011, 01:11 PM) I saw the price in Public Gold. 8% you're referring to gold. http://publicgold.com.my/liveprice.html 8% spread??? And why the price so high compare to market price? The right place for gold discussion is here: http://forum.lowyat.net/topic/2013163/+1420 To answer your question, that's their business strategy, low spread but high price. That's to encourage people who are worried about liquidating their gold bars to buy from them, and in future sell back to them at low spread. This post has been edited by cruzzie73: Sep 27 2011, 01:23 PM |
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Sep 28 2011, 01:01 AM
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#74
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Junior Member
174 posts Joined: Aug 2011
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Next targets, 28.0, 26.0, 23.8, and 22.8. I think that's the max low it can go.
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Sep 28 2011, 09:34 AM
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#75
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Junior Member
174 posts Joined: Aug 2011
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One of the event that triggered the recent sell down was the margin requirement raised by CME and Shanghai Gold Exchange. Will it come one day where margin requirement becomes 100%? If so, what other ways do they still have to cause a sell down? Any comment?
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Sep 28 2011, 11:38 PM
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#76
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Junior Member
174 posts Joined: Aug 2011
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QUOTE(chef @ Sep 28 2011, 11:09 PM) Hey guys, worry not, silver dragon 1oz will be available soon. I think someone already hinted the current selling price is USD 99, but reaching malaysia the price will be around USD 120 to 150. Unfortunately the USD99 offer is limited to 1pc per person (or maybe 1pc per order of a certain minimum qty) only. So there won't be a lot of it being offered in the market.This is already the lowest price for the dragon, because if you don't want, someone else in the world will want it and the price will go way above. Hold your horses o.k? wait for it... chef |
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Sep 29 2011, 05:40 PM
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#77
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Junior Member
174 posts Joined: Aug 2011
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Wow! 1 day didn't visit the page already got so many new messages.
Keep cool, SGKSY. When you're in business, these are the things you have to deal with. Anyway, I still maintain that silver price will drop again to challenge 26 again, once broken, it may go to 22-23. Question is, when and how long does it take to go to that level, and will there be a rally up in between. What's your take on this? |
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Sep 30 2011, 11:19 AM
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#78
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Junior Member
174 posts Joined: Aug 2011
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QUOTE(SGKSY @ Sep 30 2011, 09:54 AM) After this happened, i really sien. Sell cheap also kena "hiam" by ppl. Sometimes, they can't distinguish "ready stock" and "pre-order" price. More risks and time involved to holding physical silver. If spot rate does really matter, then they should play paper silver instead of buying physical silver. If they think spot rate is dropping, then what is the rational of buying now? If he think he can get 163 somewhere else, why offer to buy 172 from me? If you are investor, you don't mind to wait few weeks to have your stock arrive, unless you are a reseller. Willing buyer, willing seller. This is true. This needs to stop by now. Last night chunyen2020 has already said that this will be reported if it didn't stop last night. Let's move on and continue on silver discussion, which is the main reason forumers come to this thread for. This is the first time i came across this problem. That's another reason why i so upset. Lesson learnt from this matter. P/S, I won't disclose the name of other 2 buyers in the group lah, If you see my previous post, please don't jump out and raise the dispute again lah. Just you know I know lah. I know you are reseller too, you sell your things, I sell mine lah. If you still want to pre-order panda 2011, i still can help you lah. To show my sincerity, William sell 165 per pc, then i sell you 160 per pc will do lah. Minimum 30 pcs. Somemore, William required 10 % deposit, i require 5% only o. Take it or not, you decide lah, PM me if you want. If you don't want to take, then we all know your purpose lah. I apologize to all forumers again for posting topic not silver-related topic. Sorry lah. My apologize. I'd say silver price will be kind of flat today with a down trend hint. To close at 30.10. This post has been edited by cruzzie73: Sep 30 2011, 11:20 AM |
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Sep 30 2011, 07:37 PM
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#79
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Junior Member
174 posts Joined: Aug 2011
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QUOTE(chef @ Sep 30 2011, 07:09 PM) PS I don't have a doctrate lah... not that stupid to go for one. PhD = permanent head damage. ok, my guess, 30.18 |
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Sep 30 2011, 08:00 PM
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#80
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Junior Member
174 posts Joined: Aug 2011
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QUOTE(8181 @ Sep 30 2011, 06:36 PM) End of the week, USD$30.57, just send me a sachet of Old Town teh tarik la, in Philippines. Got stuck by the typhoon?Thx Chef! |
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