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Buying Gold As Investment V2, 2011 Gold Rush From Oil Hype
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lustman
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Jul 27 2011, 02:55 PM
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Getting Started

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QUOTE(kelvinyam @ Jul 27 2011, 02:50 PM) The only thing I dislike about Maybank Gold Saving Account is that their buying price is way too low than the selling/COMEX price. RM5~RM6 difference which equals to about 3%~4% commission (@ RM150/g). welcome to malaysia  malaysia (tak) boleh  , if you know what i mean
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lustman
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Jul 27 2011, 05:00 PM
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Getting Started

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QUOTE(kelvyn @ Jul 27 2011, 04:41 PM) 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? just buy coins and don't open any a/c, it will save you all the trouble  Added on July 27, 2011, 5:01 pmQUOTE(cherroy @ Jul 27 2011, 04:45 PM) UOB gold account has the lowest spread, as far as I knew. you're right This post has been edited by lustman: Jul 27 2011, 05:01 PM
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lustman
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Jul 28 2011, 08:32 AM
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Getting Started

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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
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lustman
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Jul 28 2011, 10:47 AM
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Getting Started

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QUOTE(keii-kun @ Jul 28 2011, 10:12 AM) read correctly, i did not said today or yesterday. it was monitored by other forummers. 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. you're the man
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lustman
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Jul 28 2011, 10:53 AM
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Getting Started

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QUOTE(joey85 @ Jul 28 2011, 10:46 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?  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.  Added on July 28, 2011, 10:54 amQUOTE(D3vilsim @ Jul 28 2011, 10:50 AM) Sorry out of the topic a bit. Anyone know where can we buy silver ?? everything you need to know silver is here http://forum.lowyat.net/topic/1256221/+840This post has been edited by lustman: Jul 28 2011, 10:54 AM
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lustman
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Jul 28 2011, 05:22 PM
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Getting Started

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QUOTE(kelvinyam @ Jul 28 2011, 02:29 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! 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.
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lustman
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Jul 29 2011, 11:42 AM
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Getting Started

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QUOTE(vin99 @ Jul 29 2011, 10:59 AM) 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/+860P.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
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lustman
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Jul 29 2011, 12:10 PM
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Getting Started

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QUOTE(joey85 @ Jul 29 2011, 12:01 PM) 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 jalan raja laut office only selling physical gold. confirmed! This post has been edited by lustman: Jul 29 2011, 12:12 PM
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lustman
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Jul 30 2011, 01:55 PM
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Getting Started

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QUOTE(cherroy @ Jul 30 2011, 10:45 AM) Because USD value sink. USD 1600, When RM:USD was 3.30 = RM 5280 Now RM:USD is 2.93 = RM 4688 In fact, if using AUD, you could see gold price stagnant or even drop, even though gold price surge from USD1500 to USD1600 so what's the conclusion? please share as everyone here wants to know too, including me
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lustman
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Aug 1 2011, 05:50 AM
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Getting Started

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QUOTE(cherroy @ Jul 31 2011, 11:31 PM) No conclusion. Just when seeing gold valuation, you need to work through the currency translation as well. Keep on focusing on gold value surge from USD1500 to USD1600, but without looking at currency exchange rate, is not a good way to judge. The real gain is how much gold gain in RM, not USD. Unless your native currency is USD. It is how many ounces you have in gold and NOT is any fiat currency worth of gold. That's the real gain. Added on August 1, 2011, 5:55 amQUOTE(whizzkid @ Aug 1 2011, 01:55 AM) dont buy gold yet.. till 2 ogos.. how much are you buying that you need to wait until 2nd AUG? When I first bought gold it was RM80/g in 2009 and now is almost RM160/g. there are some many news and announcements , yet the price surged. so how do you explain this? This post has been edited by lustman: Aug 1 2011, 05:55 AM
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lustman
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Aug 1 2011, 08:06 AM
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Getting Started

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QUOTE(prophetjul @ Aug 1 2011, 07:24 AM) Why? Added on August 1, 2011, 7:26 amMany reasons: One of them is Inflation due to USD tanking............ my point is when is the "best" time to buy?
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lustman
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Aug 1 2011, 12:46 PM
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Getting Started

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QUOTE(chlkaka @ Aug 1 2011, 12:19 PM) hi, can I know where can I buy the PAMP physical gold in KL? gold shops (usually very expensive), UOB and individual agents/sellers. you need to check out the price yourself to see which suits you best.
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lustman
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Aug 1 2011, 03:23 PM
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Getting Started

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QUOTE(chlkaka @ Aug 1 2011, 12:19 PM) hi, can I know where can I buy the PAMP physical gold in KL? This was advertised by a seller this morning. You can use these prices as guideline. I've no idea if it's cheap or expensive. 1gram = RM 200 5 gram = RM 870 10 gram = RM 1,709 20 gram = RM 3,369 31.1 gram = RM 5,190 50 gram = RM 8,318 100 gram = RM 16,516 (Last updated 01/08/11 12:00 PM)
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lustman
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Aug 1 2011, 03:43 PM
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Getting Started

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QUOTE(spikyz @ Aug 1 2011, 12:58 PM) UOB have a spread of Rm2 for each oz. sounds like a good buy for me yes that's true. so listen up everyone, if you want to buy physical gold for whatever reasons, the best start with UOB, period! This post has been edited by lustman: Aug 1 2011, 03:43 PM
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lustman
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Aug 1 2011, 10:26 PM
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Getting Started

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QUOTE(smokymcpot @ Aug 1 2011, 07:54 PM) What kinda gold they sell? The gold bullion coins? http://www1.uob.com.my/jsp/finance/fin_gold.jsp?func=gold
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lustman
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Aug 3 2011, 05:39 PM
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Getting Started

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QUOTE(spikyz @ Aug 3 2011, 04:39 PM) one question. doess Kuwait Finance House sell physical gold? been browsing through their website. managed to found only gold passbook. and could someone answer me, why Emirates gold 1gram from nubex is cheaper than other brand of gold like kinebar or pamp? yes KFH sells physical gold. it's not called gold passbook. when you purchase gold from them, they'll offer you to keep for you. you can take the physical gold if you want to.
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lustman
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Aug 3 2011, 10:05 PM
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Getting Started

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QUOTE(spikyz @ Aug 3 2011, 06:18 PM) aah thanks for your answer. so does this mean below is the KFH price for gold? its physical gold price not the spot price? if this is d spot price, where can i find their physical gold prices? Gold Price Updated: Wednesday, 03 Aug 2011 Time Updated: 09:19:02 AM Currency Buy Sell MYR /gram 155.3700 162.520 but then i still cant find info on physical gold they selling. izzit pamp? izzit kinebar? i don't know how to put image here. go to google image and search for kuwait finanace gold bar. their gold is minted in turkey. worldwide KFH uses the same gold.
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lustman
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Aug 4 2011, 06:28 PM
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Getting Started

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QUOTE(kelvyn @ Aug 4 2011, 04:54 PM) If you don't buy now, it will reach even higher later. By that time, you will say that it is out of your reach  this is exactly what i'm trying to say but no one seems to bother. debt-ceiling, QE3, and what not championed the main discussion without realizing the price is going up bit by bit. typical human being character
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lustman
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Aug 4 2011, 10:41 PM
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Getting Started

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QUOTE(spikyz @ Aug 4 2011, 10:19 PM) Hahah thanks. Yeah i think d same..but to offer same price for all d grams...is not attractive offer right? hehe. yeah i think ill go for kijang emas instead. =D the price quote for kijang emas gold coin is totally different from KFH. kijang emas is 1oz coin same level with gold mapels , nuggets, eagles, phili or krugerrand yes if you have the dough, go for kijang but remember kijang is a very difficult baby to take care, no scratch, tight seal, etc
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