If im not mistaken, shop will sell gold at 180++/gram. If you want to purchase gold in solid form, make sure you keep the gold scratchless and dull or it will devalue and reject by bank where you purchase it from. But from the looks of it, i rather accumilate paper gold just to sell it after a few years.
i might get a few gold coins for the just in case also.

read correctly, i did not said today or yesterday. it was monitored by other forummers.

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Added on July 28, 2011, 10:17 aminterest = riba = haram.
islamic is more to perkongsian untung aka profit sharing which currently a lot of organisation is manipulating the terms.

genneva gold related = the chairman of so called gold bullion enterprise dealer bla bla and his friends already being charged by BNM, which from the BNM report, they are the owner of Genneva Sdn Bhd.

ok, enough on scam discussion.

buy what you can afford.

everything have risk, buy physical later can hilang or misplaced. buy physical also can kena con fake bars.
buy paper could be fraud.

buy from reputable.

This post has been edited by keii-kun: Jul 28 2011, 10:17 AM

I'm just trying to tell, it is no more RM10 spread today for cimb, which is better than maybank.


This post has been edited by kuhfayLover: Jul 28 2011, 10:49 AM

sorry im asking for banks physical gold only dont dare to buy from other sources

as i m viewing UOB gold coin / other type of physical gold... coz i dont know how to differentiate what is PAMP gold, gold coin etc...coz my understanding (very little on gold now ) that gold price is 1gram = RM156.86 today but UOB selling PAMP gold at RM299 1GM ... (does GM = gram??)

then the price for 10GMS PAMP gold = RM1771... 100GM PAMP gold = RM16640 kinda blur on these... can any pro can help me out thanks in advance

so i would like to know bout this and which bank is better to buy these kind of physical gold?

you're the man

Sorry out of the topic a bit. Anyone know where can we buy silver ??

i suggest read again back-dated posts, i believed the answers are there, common man, take an extra mile, simple as ABC.

another thing you can do to confirm, just call UOB, their answer 100% correct.

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Added on July 28, 2011, 10:54 ameverything you need to know silver is here

http://forum.lowyat.net/topic/1256221/+840


This post has been edited by lustman: Jul 28 2011, 10:54 AM

wOW ! 1 GM at Rm299??? Maybe typo error?
That would be ridiculous since the 10gm is Rm1771

nice. THANK !!

>.< quite hard to search over i think i better can UOB and ask "again" (in fact i asked before )

not sure... u can refer to their website:

http://www1.uob.com.my/personal/useful/price_rates.html

under gold bullion price

last time i was told that usd is inversely proportional to gold price. Since USD keep dropping now, is that mean Gold will increase?

OIC, will think to invest as Paper Gold ..Nevertheless, prefer to buy "psychical gold"

This post has been edited by altung: Jul 28 2011, 12:08 PM

On Monday gold price was US$1600/oz AU$1502/oz
Current gold price is US$1623 AU$1470

Do you spot the difference? While gold/oz is increasing in USD, the price per oz in AUD is getting cheaper. Do you know why?

How's it like in ringgit?

Spot gold is traded in New York Globex, New York Comex, London, Hong Kong and Sydney. There would be variation among these exchange.

that is what i am trying to share.. don't be fooled by the current spread.
bank always have the rights to revise the price. those big spread only happens the day where gold skyrocket and cimb revise
the price for that day.
now - slow market - of course better. you are not selling now yet. wait till price sky rocket and everyone going to sell,
you can see the spread changes.

btw, early this month, CIMB spread is 4.25, not 4.75 as of now.

and also, if you are a very long term saver, 3-5 years, spread does not matters

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Added on July 28, 2011, 2:22 pmusd dollar value is dropping = thus you need more USD to buy 1oz of gold.
Australia is one of the gold producer and its currency is moving based on gold = thus less AUD required to buy gold.

what happen here in malaysia, gold valued in USD.
gold price up, usd down, so when convert into ringgit, gold did not goes up as much as the world price

This post has been edited by keii-kun: Jul 28 2011, 02:23 PM

It does matter. If you are with Maybank Gold Saving, you will be making 4% less when you cash out. 4% of RM100k is RM4k leh!

Gold in Aus is quoted in USD too same as Malaysia. The gold price in AUD is cheaper due to the appreciation of AUD not so much on the decreasing value of USD (otherwise gold price in ringgit would have been cheaper too after conversion).

This post has been edited by Debuantu: Jul 28 2011, 03:08 PM

ya lor, basically you lose the day you deposit already. after 3-5 years, if the price goes up and up...boleh pejam mata la, sebab sendiri silap beli maybank lor. at least you already deposit some, got untung still

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Added on July 28, 2011, 3:40 pmyes , you are correct. was trying to mention that AUD moves similar to gold movement as they are gold producer.

thus when USD value dives, gold which valued in USD is cheaper to buy if you have AUD since exchange rate AUD to USD is higher.
same thing did not happen here

This post has been edited by keii-kun: Jul 28 2011, 03:41 PM

it really doesn't matter or else you'll never buy bcos too busy with spread this spread that, this is your main decision spoiler, by the time you've decided the price has shot up. off course the spread cannot be too ridiculous.

anyways, that the game of gold malaysia and everywhere else, either you game on or game out.

Will definitely check out UOB which claimed to be having minimum buy-sell spread. And yes, it does matter.