I got it.
They are selling at 25% over market price.

Quoting you http://mygoldgoose.wordpress.com/about-genneva-malaysia/


How is the business sustainable? Wasn't clear to me.

So if the company disappear, sure I can sell the gold & get cash back. Just at 25% loss.

let say, I have a gold bar ..
then, where is the best place (giving the best rate) to sell that gold??

my fren invested in the Gold Bar with Geneva, the plan is

buy 100gram from them and they promise you a 1%(1.5% if you buy more) return every month.
you cant return the gold at the first 6 months
you buy the gold above the market price

Actual profit or deal i can't post here as it will violates the forum rules

If you sell the gold bar to outside like Poh Kong/Wah Chan you will definitely lose another xx% i heard.

This post has been edited by nickfun: May 4 2011, 05:29 PM

Banks?

So..easy money? What is the risk for investors?

Just sharing a Kijang Emas I purchased from MBB PJ Main.

Soo shiny


The capsule is not included I purchased it separately.


1) Purchasing a Kijang is fairly easy, withdraw money from the ATM downstairs.
2) Head upstairs to the first floor counter 9. Its the last counter with a door.
3) Knock the door to enter, give your money and the nice lady gives you a Kijang + receipt.

My next target, will be a Aussie Kangaroo from UOB

This post has been edited by aaronpang: May 4 2011, 10:02 PM

seems interesting..how many gram is that coin? u bought the kijang emas according to current gold price or slightly higher than market price?

basically how much..?

1oz per the picture and the rates you can find at MBB Kijang Emas Daily Rates

BTW 1 troy oz = 31.1034768 grams

This post has been edited by aaronpang: May 4 2011, 11:29 PM

yes! locked 3kg silver rite now

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Added on May 5, 2011, 12:53 amgold won't promising any dividend every month.

open ur eyes bro..

This post has been edited by ahmadtarmizi88: May 5 2011, 12:53 AM

Gold expert, what do you think about my investment way

- I buy 100gram gold jewelery cost Rm 17 120 (999 / 24k)

- I go to Bank Rakyat to do PAWN BROKING ( http://www.bankrakyat.com.my/arrahnu )

- They give me 70% of the gold value = Rm 11 984 ( so technically I only pay Rm 5 136 for the 100gram gold )

- Next month that 100gram gold jewelery new valued is for example Rm 17 500 ( looking at gold price keep on increasing )

- I go and overlap my current debt - Rm 17 500 - Rm 17 120 = Rm 380

- I'll keep doing it every month and within 2 years I will get my Rm 5 136 back and after that it's all benefit


* The higher gold price increase, the more I get

If the price go down?
& why jewelry? why not bars?

Hi caerulln

Good ?????s

Their selling price is 25% over spot......they have already covered their risk.
Afterall they are payin only 1.5% x6months = 9%. They have a profit of 16%[SIZE=14]
Remember the contract is only for six months. You have to renew, meaning maybe theres
other charges at renewal.
Like PT Barnum said



IF the price of gold went down , they are hoping that this will cover.

Next, they are always trying to generate sustained sales. Thats why they are marketing
in a BIG way.....that the future sales will cover any present shortfalls, which they do not expect with the price of gold
trending up. think Ponzi?

So for them all risks are covered. The interest given is a coated candy to buyers.
BUT as pointed out, YOU ARE PAYING YOURSELF!

Suckers do not see this. They only see

a) Gold price going up. You have to admit Gold IS generating lotsa interest. It could be any other
product for this biz.....could even be bunga rayas!

b) WOW! They give interest! Think outta the proverbial box!


Lastly IF gold price goes up theres NO problem for You o the company.
Problem is only when Gold tanks, which in fact i do not forsee in NEAR future

So, caveat Emtor.....

So let me ask u, in the worst case scenario which u don't foresee, but lets just consider it anyway, gold price fall off the cliff, what will the company do? How about the promised dividend?

My guess: you will still get your div since YOU ARE ESSENTIALLY PAYING YOURSELF!

See what i mean: You are SO SO focussed on the div?

WHY DONT YOU ASK ABOUT THE GOLD/

fOR GOODNESS SAKES, YOU ARE SUPPOSEDLY BUYIN GOLD![

Too bad Bank Rakyat only accept jewelery, I also prefer bars

You have 6 month time to overlap, I'm not sure but I never saw gold keep on going down in 6 month time

Yeah I'm focussed on the dividend. Isn't that the company's main point
I don't understand this statement:


& u guess? Doesn't sound very convincing.
Again yes we're buying gold. Just at 25% above spot.

Let me be clear, assume gold price dive into the deep abyss, how will the company pay the dividend?

That seems like quite a big risk there.
I'll let someone else more knowledgeable about gold think about this.

As always, invest only what you can afford to lose

This post has been edited by caerulln: May 5 2011, 09:14 AM

wHEN DID bANK RAKYAT BECOME A pawn shop?

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Added on May 5, 2011, 9:45 amAllo,
You never hear of figure of speech.

As for the divs, read the above again









This post has been edited by prophetjul: May 5 2011, 09:45 AM

This was my question.
As u are avoiding it, I take it that the company will go bust & their promise of dividend & buy-back just evaporate into thin air.
That definitely is not long term sustainable.
That's all I need.
Thanks for the lengthy explanation (even if not very useful at all)

i am not avoiding anything.

You have to read it for youself. If you dont understand simple English, not much more
i can do......

As for sustainability, thats a BIG ?

http://1-million-dollar-blog.com/compariso...avings-account/



guys, what does "Price Spread per gram" mean?

I know it is the buying price and selling price but why the SPREAD is different among banks? Price spread per gram RM5.50, RM5.20, RM2.00???? I am confused.

It is up to the banks to determine how high they want to sell their gold.
So up to us to choose wisely