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

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Alexdino
post Aug 22 2011, 12:50 PM

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QUOTE(joey85 @ Aug 22 2011, 12:47 PM)
welcome... depends on whether there are lot of ppl or not... but last 2 weeks i visit the branch.. it take around 45-50mins and for ur info once u open u need to place at least 20gm happy.gif

and yes u need to have a saving account with them too ^^
*
thanks.. so i need to bring more than 20gm cost for opening GSA and saving account?
joey85
post Aug 22 2011, 12:54 PM

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QUOTE(Alexdino @ Aug 22 2011, 12:50 PM)
thanks.. so i need to bring more than 20gm cost for opening GSA and saving account?
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yes and bring extra $$ coz that time i go and submit application at customer service the rate is 169.80 but when i wanna pay the $$ the rate is 171.40, their system will only follow the current price in their system but not follow the rate write in the form .. so depend on ur luck >.< the saving if not mistaken RM10 only ba.. 4get liao sweat.gif
Alexdino
post Aug 22 2011, 12:57 PM

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QUOTE(joey85 @ Aug 22 2011, 12:54 PM)
yes and bring extra $$ coz that time i go and submit application at customer service the rate is 169.80 but when i wanna pay the $$ the rate is 171.40, their system will only follow the current price in their system but not follow the rate write in the form .. so depend on ur luck >.< the saving if not mistaken RM10 only ba.. 4get liao  sweat.gif
*
but now gold price keep pumping up... blink.gif thanks..

can we transfer ssving into gold investment anytime? can thru online or only thru banking?
insaint708
post Aug 22 2011, 01:03 PM

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QUOTE(chengcheng @ Aug 22 2011, 12:49 PM)
Oh my... 45-50 minutes quque?

The Gold Rush of the 21st Century? Only bought 20gm... now regret buy too little.

Price is still strong going UP!!

rclxms.gif  rclxms.gif
*
You can always top up smile.gif


Added on August 22, 2011, 1:06 pm
QUOTE(Alexdino @ Aug 22 2011, 12:57 PM)
but now gold price keep pumping up... blink.gif thanks..

can we transfer ssving into gold investment anytime? can thru online or only thru banking?
*
Thru banking

This post has been edited by insaint708: Aug 22 2011, 01:06 PM
cybermaster98
post Aug 22 2011, 01:10 PM

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QUOTE(zaizu @ Aug 22 2011, 10:55 AM)
gold is gold is gold and on annd on infinitely - just branding only
by right you can and sell gold anywhere

BUT branding and advertising costs money and u have to pay for it when u buy gold at a higher price per gram and then when u sell it back at even lower price because u sell back you are selling gold - not the branding

also different shops got so many conditions - just buy gold coin or bar but cannot open and touch the gold - otherwise they will deduct a massive price on sell back

for example poh kong gold that u buy - if u sell back to poh kong they will deduct a certain percentage depending on the condition of the pacakge
- there will be terms and conditons

but if you take the same gold to habib or tomei  or other gold shops they will usually deduct a much larger percentage

so whatever brand u buy there will be a susut or buyback price or spread which is lesser than the sell price  you can see it on the website - 6%

BUT if u buy jewellery then the spread is so much more when u want to sell back

i hope this explains your query
But the problem with all these physical gold is the certification of purity. In many cases, the cirtificate given is not valid with other jewellers. So even if they accept the gold, the price is much lower.

vinvon
post Aug 22 2011, 01:43 PM

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QUOTE(Alexdino @ Aug 22 2011, 12:57 PM)
but now gold price keep pumping up... blink.gif thanks..

can we transfer ssving into gold investment anytime? can thru online or only thru banking?
*
In order to open the saving account, you need RM500.
You cannot buy the Gold via online, everything have to be done in bank [UOB]. Unless you plan to invest in PBB.
xproc
post Aug 22 2011, 02:07 PM

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QUOTE(vinvon @ Aug 22 2011, 01:43 PM)
In order to open the saving account, you need RM500.
You cannot buy the Gold via online, everything have to be done in bank [UOB]. Unless you plan to invest in PBB.
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ya... but public bank got 1 term sale at a discounted price... i dunno what it mean... anyone tired buy via online in public bank?
ppguy2006
post Aug 22 2011, 02:11 PM

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Reading so many posting, can i say the lower the SPREAD value the better?
joey85
post Aug 22 2011, 02:13 PM

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QUOTE(Alexdino @ Aug 22 2011, 12:57 PM)
but now gold price keep pumping up... blink.gif thanks..

can we transfer ssving into gold investment anytime? can thru online or only thru banking?
*
u need to walk in to UOB branch.. the only bank can do online purchase is Public Bank... ^^ yes gold price is increasing now... tongue.gif
xproc
post Aug 22 2011, 02:44 PM

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QUOTE(ppguy2006 @ Aug 22 2011, 02:11 PM)
Reading so many posting, can i say the lower the SPREAD value the better?
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if distance/convenience of bank not a problem, if you can line up at bank, if your volume is big >300g, if for short term one .... then the spread lower is better...

for low volume like me... it doesnt matter at all
AhToi
post Aug 22 2011, 02:44 PM

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1894 now... coming soon 1900
Alexdino
post Aug 22 2011, 02:58 PM

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QUOTE(AhToi @ Aug 22 2011, 02:44 PM)
1894 now... coming soon 1900
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got my 20g at rm180.40/g... sad.gif when i walkin is 179.9 but when i did my transaction is already naik,.,
keii-kun
post Aug 22 2011, 02:59 PM

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haha maybank spread growing again... robbing people summore

should i top up my uob? or wait for retrace *sigh* short term passbook buyer here.

long term on physical. my PG bars already gained 17% since end jul rclxm9.gif
Alexdino
post Aug 22 2011, 03:43 PM

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now dropping the global price
kevyeoh
post Aug 22 2011, 04:08 PM

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i purchased this morning... 182... before lunch...
now i check the price is already 185... crazy...

nick.woocs
post Aug 22 2011, 04:12 PM

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QUOTE(Alexdino @ Aug 22 2011, 03:43 PM)
now dropping  the global price
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Gold price nearing 1900.. Where u get ur info bro?
jian5481
post Aug 22 2011, 04:13 PM

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QUOTE(keii-kun @ Aug 22 2011, 02:59 PM)
haha maybank spread growing again... robbing people summore

should i top up my uob? or wait for retrace *sigh* short term passbook buyer here.

long term on physical. my PG bars already gained 17% since end jul rclxm9.gif
*
As mentioned before, Maybank and CIMB are using percentage to calculate the spread. So it's obvious that the gap between selling and buying will be higher as the price increases. It's the same as goldsmiths. They use 6-8% spread for bullion, 20-25% for jewelries.
nick.woocs
post Aug 22 2011, 04:13 PM

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QUOTE(kevyeoh @ Aug 22 2011, 04:08 PM)
i purchased this morning... 182... before lunch...
now i check the price is already 185... crazy...
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Bought at 930.. Baru 180.. Keke


Added on August 22, 2011, 4:20 pm
QUOTE(kevyeoh @ Aug 22 2011, 04:08 PM)
i purchased this morning... 182... before lunch...
now i check the price is already 185... crazy...
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btw, which bank u bought?

This post has been edited by nick.woocs: Aug 22 2011, 04:20 PM
SUSsoundsyst64
post Aug 22 2011, 04:33 PM

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I notice the buying-selling spread is increased compared to what I've observe last week hmm.gif It gives me a thought of should I top up or buy physical gold instead.
nick.woocs
post Aug 22 2011, 04:37 PM

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QUOTE(soundsyst64 @ Aug 22 2011, 04:33 PM)
I notice the buying-selling spread is increased compared to what I've observe last week hmm.gif It gives me a thought of should I top up or buy physical gold instead.
*
its nearly the same spread i think...

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