2 interesting articles on CNN Money:

http://money.cnn.com/2011/08/11/markets/gold/index.htm

http://money.cnn.com/2011/08/11/news/inter..._debt/index.htm

gold investment account can withdraw in gold or not? like instead of withdrawing money, i take out gold.

No gold surely isnt my major investment. Mine still is property and ASB. But still nobody wants to experience losses on any investments.

The problem i see with gold is the rise over the past week was too drastic. When something rises so drastically, its bound to drop the same. Gold has been so volotile this week which makes it more risky. Thats why i would prefer UOB as the spread is only RM2. High chance of profit and lower chances of major losses as compared to banks with higher spreads.

Whats your view?

If you are looking for short term, forget gold. Unless you trade forex gold swings.

Its gonna get more volatile mainly because the world's financial system is in chaos...
it will slowly unwind and more and more dirt will be found.

Using gold accounts means you amy waann be longer term?
Otherwise trade GLD on the stock exchange.

If longer term, IMO WAIT..............

Try KFH gold account. http://www.kfh.com.my/. You can open account, take physicals out or let them store it

yeah, KFH allows us to withdraw physical gold. but their gold is just 995, not 999... will that bother any investor?

thanks bro. exactly what i'm looking for.

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Added on August 12, 2011, 9:29 amwhich page did you read that from? i thought standard is 999 for gold investment? 995 will definitely bother me.

thanks for the info

This post has been edited by brokep: Aug 12 2011, 09:29 AM

I just saw KFH. The spread is so damn high! RM 10 per gram. Crazy!

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Added on August 12, 2011, 9:31 amI just saw KFH. The spread is so damn high! RM 10 per gram. Crazy!

This post has been edited by cybermaster98: Aug 12 2011, 09:31 AM

here
http://www.kfh.com.my/bpmapp-upload/downlo..._-64e1/Gold.pdf

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Added on August 12, 2011, 9:39 amsyariah compliant bro...

This post has been edited by Nidz: Aug 12 2011, 09:39 AM

Why KFH so high?
Because, to comply with shariah, they must give an option to convert to gold at any time.

So, lets compare apple to apple.
Public Gold, 10grm, 1877-1722=150=15 pergram

Kijang emas, 5551oz-5336oz=215/31.1 = 6.91 pergram.

So, for security not to hold it physically and the convenient of paper gold transaction, you decide whether RM10 pergrm is high or not.

thanks bro

For investment gold that is 999.9 better or 995?

dont put all the eggs into just 1 basket lor

999 is better loh. higher quality and easily sellable coz its regarded as investment.
same with 995 but not really sure what is the significant disadvantage of 995 over 999.. maybe the price will differ abit?

Hmm.. although it dropped 2day but I think it will still increase in the next few weeks. am I right?

I got a question here:
1. I wanted to open a gold investment account in UOB but then all my money is inside Maybank account. so, How do i transfer the money to UOB?

Thanks

1. Withdraw all your money from Maybank in cash and walk over to UOB bank.
2. Ask Maybank to issue a banker cheque in your name and the go to UOB bank.

As simple as that.

Im thinking of that too but im afraid later I kena rob by ppl hahahaha
But I'll try to do that later

If u calculate in percentage, it's just 5.33%.

Haha won't lar I did the same yesterday. I collect my money from HSBC then open gold savings account in UOB. Simple and fast. They even gave me an ATM card, I don't know if there's any charges for the ATM service though, didn't bother to ask.

The reason I opened the gold savings account is to start learning investment, so I start from small, but my friend said silver better if you don't have a lot of cash. But oh well, what done is done. No point regretting like sifus here says. I still have a lot to learn from sifus here.

swt, just went to UOB and the guy there told me that it is already 3pm and they 'cut-off' already, need to wait monday just can buy gold..