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 Buying Gold As Investment V2, 2011 Gold Rush From Oil Hype

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TSaeronic
post Feb 28 2011, 12:45 PM, updated 15y ago

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New Thread

Continue From V1
http://forum.lowyat.net/topic/538081/+2380

Please refer to V1 thread before posting general questions
Feel free to quote posts with good information from some posters for refference to discussions here.

Why Investing Gold thru passbooks/physical thru license financial instutions is better than any company who sells your GOLD that might even scam you
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Comparisons on spreads and other charges for Gold Savings Passbook/Accounts:
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This post has been edited by aeronic: May 12 2011, 11:56 AM
nbi
post Feb 28 2011, 02:15 PM

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Hi all sifus,

Which reliable source or bank recomended for gold investment?

Is the current price too high?


Thanks in advance.
prophetjul
post Feb 28 2011, 02:18 PM

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QUOTE(nbi @ Feb 28 2011, 02:15 PM)
Hi all sifus,

Is the current price too high?
Thanks in advance.
*
Thats what they told with gold price at

$450
$550
$750
$850
$1,000
$1250


i dont know anymore.... rclxub.gif
SmokyDiscount
post Feb 28 2011, 07:00 PM

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the current price is 142.xx/g

half a month ago, the price drop till RM132.xx, and I advice some of my friend to purchase... now they make money ledi...

QUOTE(nbi @ Feb 28 2011, 02:15 PM)
Hi all sifus,

Which reliable source or bank recomended for gold investment?

Is the current price too high?
Thanks in advance.
*
but the price now ... in my opinion, is damm fcuking cheap... (stand at 5 to 10 year later, think about today price. Ask your self cheap or expensive)
cempedaklife
post Mar 1 2011, 11:50 AM

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hi...newbie here.....

just wanna ask some question (just correct me if i'm wrong)

1st, if i'm not mistaken, there's is different outlet (bank) that enable us to buy gold rite? (thru some accounts)
do they charge differently for each different banks?

2nd, where can i monitor the price of gold for a certain period of time to check the performance of gold, before i start investing in this?
mlah
post Mar 1 2011, 12:01 PM

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to see the price of gold just go to
http://www.kitco.com/
TSaeronic
post Mar 1 2011, 12:23 PM

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QUOTE(cempedaklife @ Mar 1 2011, 11:50 AM)
hi...newbie here.....

just wanna ask some question (just correct me if i'm wrong)

1st, if i'm not mistaken, there's is different outlet (bank) that enable us to buy gold rite? (thru some accounts)
do they charge differently for each different banks?
2nd, where can i monitor the price of gold for a certain period of time to check the performance of gold, before i start investing in this?
*

i would recommend public bank and maybank gold savings passbook
the price for public bank is slightly higher, but the spread (buying vs selling) is the same
so it is roughly the same
you can refer to this post below from v1:
QUOTE(cherroy @ Feb 22 2011 @ 11:30 AM)
Gold acc
- get rid of risk physical being stolen.
- Lower spread

Physical
- Got physical gold, more "feel"  , at least bank bankrupt also never mind (Personally think very low chance)
- Higher spread.
- Once stolen, habis all.
This post has been edited by aeronic: Mar 1 2011, 12:26 PM
kucingfight
post Mar 1 2011, 04:57 PM

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QUOTE(aeronic @ Mar 1 2011, 12:23 PM)
i would recommend public bank and maybank gold savings passbook
the price for public bank is slightly higher, but the spread (buying vs selling) is the same
so it is roughly the same
you can refer to this post below from v1:
*
If u check the spread value

PBank and maybank is around RM5.50

Where as, UOB is only Rm2. No brainer, and i went for this
cempedaklife
post Mar 1 2011, 05:03 PM

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thanks for all the feedbacks notworthy.gif

i'm just trying to know more in this investment..
can't say i will go into this investment for sure in the near future...
but just wanna get an understanding on it and have a look at it before hand

thanks!
Gen-X
post Mar 1 2011, 05:13 PM

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Yesterday Gold up in USD + USD/MYR up = Gold in MYR up,
today Gold up in USD (since morning 8am to 5pm) + USD/MYR down = Gold down in MYR (5pm).

For newbie, UOB account you have to buy/sell at incremental of 5g per transaction after opening account e.g. buy/sell 5g, 10g, 15g, 50g and not 8g, 18g or 28g.

Those of you who have free time, click here to read my post titled Currencies Rolex No.8 at my blog called Ringgit Wise Fool, where I did touch briefly on currencies vs gold.

This post has been edited by Gen-X: Mar 1 2011, 07:25 PM
skyline34
post Mar 1 2011, 06:57 PM

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wana get advise i got offer frm bank which im allowed to loan out RM10k, shud get the 10k n invest to this gold investment thingy?

tq.
SUSsoundsyst64
post Mar 2 2011, 05:11 AM

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how about invest on silver? hmm.gif can or not?
prophetjul
post Mar 2 2011, 08:56 AM

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QUOTE(soundsyst64 @ Mar 2 2011, 05:11 AM)
how about invest on silver? hmm.gif can or not?
*
The spread for silver Physical in Msia is ridiculous and obscene like about 25%!

If you wanna invest in silver, cheaper to

Try the ETFs listed in U.S like

iShares Silver Trust(NYSEArca: SLV )

ProShares Ultra Silver(NYSEArca: AGQ ) - Be careful of this one....its a leveraged ETF against silver price like 8 times! Can be exteremely volatile!

Silver miners
wu ming
post Mar 2 2011, 10:34 AM

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For those who are interested in gold but hesitant to buy then you are at a lost.
Just buy a little whenever you have spare cash. Every month buy a little-little.
Yeah, everybody wants to buy at a low price but how long do you want to wait?
Now expensive? In future might be even more expensive! Wait some more lah.

From the posting, I guess the people who are new to gold is that they are going to dump a huge amount of their money on it.
Forget about it and then profit double triple overnight. My advise. Start from small. Avoid those paper gold account.

QUOTE(skyline34 @ Mar 1 2011, 06:57 PM)
wana get advise i got offer frm bank which im allowed to loan out RM10k, shud get the 10k n invest to this gold investment thingy?

tq.
*
No money want to take loan to invest. You siao meh? doh.gif

This post has been edited by wu ming: Mar 2 2011, 10:40 AM
nik2
post Mar 2 2011, 10:47 AM

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Perak state launch new dinar and dirham coins.

Good for investment? What you all thinks?
kucingfight
post Mar 2 2011, 11:07 AM

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QUOTE(nik2 @ Mar 2 2011, 10:47 AM)
Perak state launch new dinar and dirham coins.

Good for investment? What you all thinks?
*
U can, but it makes not much of a difference buying a Gold savings acc, tru UOB. unless if it's silver, but then again, Kelantan dirham is selling like 1X more than the current silver price doh.gif
wu ming
post Mar 2 2011, 11:19 AM

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QUOTE(nik2 @ Mar 2 2011, 10:47 AM)
Perak state launch new dinar and dirham coins.

Good for investment? What you all thinks?
*
Good for collection. Not investment. biggrin.gif
SUSsoundsyst64
post Mar 2 2011, 12:46 PM

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QUOTE(wu ming @ Mar 2 2011, 11:19 AM)
Good for collection. Not investment. biggrin.gif
*
and how about gold dinar/gold coins offered by public gold? okay or not? hmm.gif Plan to get some

publicgold.com.my

This post has been edited by soundsyst64: Mar 2 2011, 12:48 PM
wu ming
post Mar 2 2011, 01:28 PM

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QUOTE(soundsyst64 @ Mar 2 2011, 12:46 PM)
and how about gold dinar/gold coins offered by public gold? okay or not? hmm.gif Plan to get some

publicgold.com.my
*
Oh those are bullion coins. No year whatsoever and mintage is infinity. Not very good for collection.
The spread is quite close when they started out but now damn far away. Maybe because many people bought it.
For Public Gold, buy the dinar with higher denominations if you would like to profit more.
SUSsoundsyst64
post Mar 2 2011, 01:35 PM

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QUOTE(wu ming @ Mar 2 2011, 01:28 PM)
Oh those are bullion coins. No year whatsoever and mintage is infinity. Not very good for collection.
The spread is quite close when they started out but now damn far away. Maybe because many people bought it.
For Public Gold, buy the dinar with higher denominations if you would like to profit more.
*
i'm more into long term investment.

dinar coins have 1, 5 and 10, and also 50 gram gold coins. I'm planning to take at least 1 dinar x 3 pcs for starters since I have limited budget to get 5 or 10 dinar.
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