if that's the case kelvin,
either you go UOB gold premier - 1kg (rm1 spread)
or UOB Gold Passbook - 500gm (can nego spread, i believe can get RM1.50 spread compared to normal RM2 spread)

else the nugget or maple gold - 3.6% spread

What's the current price for the nugget/maple? I couldn't find the info on their website.

Hi all,

I am interested to open a Gold saving / investment account.
May I know which bank provide online buying and selling ??

Currently looking at Maybank / CIMB / Public Bank and UOB.

And Maybank says their Gold Saving account is 100% back by physical gold.. any comment for this ?

Thanks all

Better Protection: Investments in MGIA are fully backed by physical gold deposited in PAMP S.A.
http://www.maybank2u.com.my/mbb_info/m2u/p.../INV-Investment

ya.. so far I only see Maybank provide this statement.

I just read that UOB provides the best rate / spread around.

And seems like only Public Bank offer online gold trading.. or is there any other bank offer online gold trading as well ? As it will be very inconvenient to go to the branch to do the trading.

Hi keii-kun,

Just to clarify, while Genneva Sdn Bhd’s court case is still on-going since 2009 (what's taking the courts so long?); Genneva Malaysia Sdn Bhd (GMSB) has complied with Section 21(1) of the BAFIA Act, 1989 relating to factoring and leasing business and engaged in the sale and purchase of gold products in accordance with Syariah principles. It is growing from strength-to-strength. Genneva Malaysia HQ is in Kuala Lumpur with affiliate partners and presence across the region.

Having browsed through numerous websites, blogs, discussion forums and having read hundreds of comments on the net on Genneva Gold, I’ve yet to find a police report or evidence claiming Genneva Gold is fake; nor anyone have been “scammed” or “cheated” by GSB or GMSB. Not even one report.

Instead, I only found rumours, assumptions or predictions by naysayers, skeptics, Self-Appointed Prophets of Doom and Narrow-minded People Stuck in Old Economy Mindsets (i.e. old conservative ways of making money).

Source: http://bit.ly/pymZX9

If anyone needs further clarification, I'm just a call away.

Cheers and have a blessed day.

Pat Lu, +6012 210-4898
Senior Consultant, Genneva Malaysia Sdn Bhd

This post has been edited by PatEagle: Jul 29 2011, 04:23 AM

Madoff operated for 49 years........

Narrowed minded people indeed ........did not lose their hard earned money to Madoff.
A scam does not a day make........

The point is Genneva does not have biz model..........so the only thing paying for all this is for poeple top up
on the 30% gold sales...............giess what they call that scheme?

We are naysayers, skeptics, Self-Appointed Prophets of Doom and [i]Narrow-minded People Stuck in Old Economy Mindsets BUT

we are not born suckers who pay ourselves the 1.5% p month interest

During Invest Fair Malaysia 2011, I attended a talk by Al Rajhi Bank personnel. They are selling physical gold for investment purpose. However the minimum amount is RM100k. They even provide limited-time-free-keeping of the gold you purchase.

http://www.alrajhibank.com.my/personal_gold_i.shtml

IMHO, keeping physical gold under the bed is still more risky than keeping it in the bank, or buying paper gold.

at least if you keep the gold under the bed, can feel and touch them everyday

Each has its risks......eg the bank may not have the gold!

UOB already established in gold market. In SG, the spread is just RM.30/gram.
thus RM1/= per gram is considered a bonus for them.
it will be interesting how gold trading account pay us once the trading stop in COMEX.

it may be ok starting tomorow no more trading. I give you back all your $ base on today price.
then for tomorow , the price boom2 goes up, U cannot do anything about it.

can nego? isn't the buying/selling price is fixed by according to the rate in their website?!

As long as it's Maybank, who cares? Do you think Maybank keeps all of its customer money in the vault?

---

Added on July 29, 2011, 10:49 amWhen you have a lot of money, you can nego anything.

This post has been edited by kelvinyam: Jul 29 2011, 10:49 AM

Apples for apples..........why do you compare paper with Gold?

Remember never say never when even a company like Lehman can fall............

I currently have around extra 3k cash in hand... how can i invest other than put on bank? Can i buy gold? but nowadays gold is so expensive... Thanks for advise...

if 3K just buy physical silver, learn everything here

http://forum.lowyat.net/topic/1256221/+860

P.S. don't even think about selling it for at least 3 years

This post has been edited by lustman: Jul 29 2011, 11:43 AM

can i know which UOB branch selling physcial gold ar?? i call the one menjalara branch dont have they say call KL main branch but in fact i called KL main branch and asked, they are the one told me to call nearest branch to asked... really dont know where to ask liao... LOL

This post has been edited by joey85: Jul 29 2011, 12:02 PM

jalan raja laut office only selling physical gold. confirmed!

This post has been edited by lustman: Jul 29 2011, 12:12 PM

dear patricia,
i did not say the genneva is fake or anything, but buying gold from a company and its director who were gold beam top people that is currently under investigation by BNM? come on, be realistic. using mahathir to launch the product, the king was not even there!

please stop promoting geneva product here. this is a discussion thread. you can create your own sales thread.

for others, you can see the step by step to purchase here
you can also see on 4/7/2011, the price sold by genneva is rm175/gm for 100gm . and you did not get the official cert for the gold, just a company printed certificate of ownership.

you decide for yourself.


goldchan,
is there any requirement that restricts msian to open uob gold account in spore?

Hear! Hear!