Is SPDR Gold Trust an investment or just purely for trading?

Is gold saving account like maybank & PB really have stock on physical gold the moment we open the account? Can we change the amount in that account to gold immediately or anytime we want?

This post has been edited by whizzkid: Jul 27 2011, 03:55 PM

You can change the amount into physical gold. You just need to cash out into RM, and buy Maybank's Kijang Emas. Of course the Kijang Emas is more expensive than the COMEX price because you will be charged the labor cost of making the gold coins.

Link:
Maybank Daily Gold Price

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More good news of Gold rush is surfacing... the correction is near.
2 Gold Miners ETFs to Watch

Just wondering for these gold saving account from Public bank and OUB bank, can we convert the gold amount from the account into the gold coins?
What's the procedure?

UOB gold account has the lowest spread, as far as I knew.

just buy coins and don't open any a/c, it will save you all the trouble

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Added on July 27, 2011, 5:01 pmyou're right

This post has been edited by lustman: Jul 27 2011, 05:01 PM

a noob question..i already got gold investment account and im planning to buy physical gold now, which bank rate is most cheapest? and i saw there are many types of physical gold, which is better and for long term?

thanks all pro

LOL, if so, there's no point open the gold account if u need to buy the gold yourself. Same like u open normal saving account.

As we know, Kijang Emas is very limited and only certain branches do have sell it. Another thing, if we cash out the money, and there's no Kijang Emas can be bought at that time, it just waste ur time open that account.

How about PB and other gold account?

You asked me can or not mah. The answer is yes loh. As Lustman said, you want solid gold, then buy solid gold loh. You want simple investment, then buy paper gold loh. I'm basically comfortable with Maybank Gold Saving account. It's Maybank mah.

better than CIMB which raise the spread to RM10 during gold price rush recently.

i saw maybank did adjust the spread to RM7 if not mistaken last year end July when the price dived, the selling price was not that low during gold took the dive.

just opened gia with uob. locked buying 154.60 at 2pm, later 3.15pm already revised to 154.90.
was recommended by their customer officer that special rate for those opened acc with 500gm, but not as low as gold premier account (rm1 spread)

diversify my paper gold hahahah

review of gia - by 1million dolarblog

GIA comparison

kijang emas - very sensitive policy by maybank - if scratched - no buyback - hard to get also
uob (aus nugget / maple gold) - as long cert available - weight same - buyback as published. anytime.

Thanks for the info. I think I would go for UOB on my future entry. Maybank gold price spread has been increased to RM6.36 (4%). WTF!

not for trading but only keep for my self..so can any of you give a suggestion, where i can buy investment gold from official mining shop/office (government mining office) or should I buy from the bank ? If I wanna buy a gold as much as I need like 1ounce, 5, 10 ounce etc

This post has been edited by altung: Jul 27 2011, 11:16 PM

Personally, I only buy 999.9 physical gold from Genneva Malaysia Sdn Bhd. Currently their Hibah is at 2% per month for 3 months for 50g and above. More details at http://mygoldgoose.wordpress.com/

In addition, if you have old gold jewellery, you can also convert them to 999.9 gold bullion. Learn more at http://bit.ly/qC9Xe8

Hope this helps. Cheers!

This post has been edited by PatEagle: Jul 28 2011, 02:57 AM

genneva?

hibah 2% .....discount....guaranteed buyback....exactly as per Etika Emas Estet.

furthermore, in islamic banking, a fixed guaranteed profit (like hibah 2%) is already wrong. how dare Genneva claim "Syariah" compliant.

5% discounted from FGJAM price (RM183/gm 24k) would put a 100gm gold bar @ RM17,300. buying at premium already.

BNM Investigates Etika Emas and Genneva


This post has been edited by keii-kun: Jul 28 2011, 07:28 AM

i asked this....many times, no answer.......giving interest rates is islamic? i am no muslim but i always thought
interest is haram?

Oh and buy Genneva gold at 30% higher than spot and pay yourself the 1.5% interest!
Whatta great sales point!

What U ask for is not possible. Even for myself.

sorry if what i'm going to tell next is harsh BUT still need to be told or I'm not doing my duty as a fellow citizen. at the end of the day the decision is still yours, i don't care. remember this, always better to be safe than sorry, no matter what, even they promise you the stars from the sky.

it looks difficult but it's not. even a child can decide. people always ask what to buy, when to buy, where to buy, is it safe? have you heard about so and so? why torture yourself with worries and sleepless nights.

it never ceases to amaze me how most people always lose sight of the ultimate reason for buying gold and silver. yes quick money is the culprit and i'm guilty of it too but i've learned a valuable lesson. you may or may not want to listen to what i've to say but would you listen to experts? if yes, buy rich dad's investing in gold and silver. just read the juicy part and leave out the smoke screen. please don't ask me which ones. it's your job - read it!

next here're simple answers for newbies (old timers too).

what to buy - govt-backed gold coin bullion, gold savings a/c

when to buy - now and not wait until the price drops, you're gonna ask yet another question, when and how low is low? stupid question, right?

where to buy - banks (safest), authorised dealers (good to go after thorough investigation)

is it safe - is bank safe? please don't tell me banks also go bust, then take out all your money from the bank and put them under your pillow and ask, is it safe?

have you heard about so and so - don't ask at all, ever, just go to banks if you're unsure

last but not least, never ever buy from anyone who promises you good returns, etc, etc, etc, period. i don't care if he/she/they is/are the PM's wife third cousin or long lost aunty related to the King's brother's sister's company.

well, nuff said.

you decide.

P.S. anyone who read this can always rebut

As a metal investor,
a) I don;t have any GIA and I don;t think i will have any in the future.
U do whatever U 1 lah. just cash out b4 the music stop. ok.
For me, anything paper is a fraud.

b) SInce margin is super thin, it is not feasible for storage program, agent commission, MLM etc. Just merely get it from the best reseller or mint( budget USD2-5 million), resell and keep.

storage program is only feasible if U have a high tax VAT 17.5%, thus the storage program will take up maybe 8% of the tax lah. It's a form of tax avoidance but U will never get your metal until the tax is paid. If U intend to pay the tax, then what is the point of storage program. Thus only way is to cash out and get your fiat back.
so as for me, just keep physical no MLM, storage program, reseller, agent.

Agent commission model : I only see Public gold is a success, others who follow them will fail lah. it just too late.

This post has been edited by GoldChan: Jul 28 2011, 08:44 AM

As with an investments, know your reasons for investing in the vehicle.......if you dont know the reasons, better
to stay out of it. AND the reasons do not necessary turn out to be right!

I don't see the RM10 spread from cimb ?!

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