Forex played by individual is considered illegal by Bank Negara right?

so i guess only for Singaporean to apply for it?

I am living in malaysia.

Anyone knows a reliable seller around Kuala Lumpur where I can acquire a 2011 Gold Panda...

Want to add a gold panda to my coin collection if they're not too expensive



This post has been edited by aaronpang: May 19 2011, 04:53 PM

I think still got stock in UOB KL. Safe deposit box not available any more.

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Added on May 20, 2011, 8:48 amif U 1 I can ask my supplier to piggy back 1 oz 2011 Gold Panda (sealed) when I reorder my next silver shipment.
Price per oz is about RM300 above UOB selling price.
However, I need to take a RM500/- deposit for this because of my bad experience with other customer.
In case you don't want after i ordered, I will just exchange with someone with UOB gold and sell off the UOB gold.

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Added on May 20, 2011, 8:50 amor if U have someone going to Hong Kong, Macau or Zhuihai, U can ask them to buy for U at Bank of China.
price is almost the same as UOB price.
However, I unable to get anyone to do it for me.


This post has been edited by GoldChan: May 20 2011, 08:50 AM

Question about spread. Assuming UOB spread = 5%

Does it mean that:
Whatever price it goes up to in the future, UOB will buy it back at whatever price - 5%?

And this will be clearly reflected in the purchase agreement / term & conditions ?

This post has been edited by ycyip: May 20 2011, 09:42 AM

Spread means different in buy and sell.

Let say
xyz bank sell you at 150, and buy back from you 147, <--- spread 2%.

I know spread means difference in sell and buy.

My question is, what happens when want to sell back to them later.
This spread will apply too?
Will it be reflect in black and white when we purchase the gold coin?

Investing in Genneva or UOB Gold? Which one will you invest?

Let say at the time you buy bank sell $150 buy $142.5 (5% spread), 3 years later the bank sell $180 and buy $171 (also 5%). So if you sell to bank then your profit is $171-$150 = $21. Correct me if I'm wrong.

A good read, to heed or not is your choice, as a new gold investor this is really important.

http://seekingalpha.com/article/260900-the...the-gold-bubble

How to correct you if I'm not sure
What you said is what I'm trying to clarify actually

yes..ur correct

banks in HK and CHN

also i type too fast on last post the spread for silver is 0.41- (not .041)

No, the spread is not a guaranteed figure, it depends on buyers of gold.

But for banks as reputable seller, the spread generally is fixed throughout.

try HSBC in HK for paper gold, ETF's and Hang Seng Index.

U only need to stay in HK to be able to invest in US stock mkt or other non HK counters or margin trading.

Unfortunately the trading hours for spot gold in HSBC is 7 am - 12 am, five days week.

for a trading junkie, you need 24 hrs access to catch the up and down flow especially silver where good money can be made from all the up and down.

for shorting gold and silver best go for forex trading, available in SG. I think forex accounts is still the best vehicle cause you can Long and short plus stop loss but must be carefull of margin call.

For forex account recommendation pls go to the forex subforum, there many expert there. Mabye after you get your answer, you can advise me too

Hope that helps.

This post has been edited by 97th Mobile: May 20 2011, 02:56 PM

If i am not mistaken, maybank increase their spread a few months ago. So generally the spread is at the discretion of the bank..

Well, it is subjective.

Let say i made money in business or working in SG or A gift from relative in SG who bank into my SG account, and i do not intend to bring back the money to malaysia and use it to play forex in singapore.

would that be illegal?

I think you would find a better answer in the forex subforum...

Thanks appreciate your help GoldChan, lets continue over PM...

Bank: I'm the seller, I decide what spread I want to give. If U don;t want U can always don;t buy or sell (if U have brought it earlier). or sell direct to someone else. For few % of profit margin (spread) I have to give U black and white meh!
2. If more people buying and market changes rapidly I will increase my spread lah to cover my potential lost and increase my profit.
3. If no sales or got competition, then I lower my spread lah.
4. at the same time all these must be done properly so that customer will still stay with me.

It happens to Public Gold, Maybank & many other vendor as well. U have to live with it.

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Added on May 21, 2011, 6:36 amDon;t be chicken lah, the lowyat forum market is pretty efficient for selling IT gadgets stuff, why not it can be for PM as well.
step 1: get your ebay a/c build up some reputation there.
later whatever U 1 2 sell U can do it less hassle as got repo already mah.

step 2: email , forum, list at ebay, mudah etc,
I'm sure over time got buyer who will buy directly from U one. This happen a lot in PG gold among dealers and customer at a much lower commission rate.

think about it.
When U go to University, did U ask your professor what if U didn't get a job.
U go 4 the university 4 a particular course because U confident U can get a job out of it mah. Not because government guarantee U a job mah.
then U R independent lor.
The same case may apply to PM to some extend.

U should think if things get from bad to worst like argentina, some form of ground rules for one to exchange
maybe 1 silver coin 1 oz for 100 Kg of rices.
I.e.
buying house in Vietnam is paid in gold bar. quite common.

ok.



This post has been edited by GoldChan: May 21 2011, 06:36 AM

Can try this one >>> http://www.facebook.com/pages/Alliance-Gold/108373422583037
My friend's company,