When the time comes, the authorities will be the one who will declare which Dinar standard to be used. Either 999.9 or 916. It doesn't change the value of anything because you still own the gold.Just that 999.9 dinar (24K) could be worth 1 Dinar & 916 (22K) would be worth 3/4 dinar. Hope that clears things up.

Also, Dinar may be easier to get here now we're starting to mint our own but on a global scale. Dinar is worth more than just the weight of the gold 4.25gm by itself because it is a valid currency that will be making a comeback in the years to come.

Whatever it is, just start saving gold and converting as much cash to gold as you can. The price of gold will keep going up until Israel becomes the next superpower replacing the US. Please have a look at the USD$ today.. it is preparing for its demise and paving the way for Israel to be the next superpower. They are the ones in control of the global financial institutions and they are the ones working to bring the gold and silver back as the monetary system just as the time when King Solomon ruled. That is their belief and that is what is happening now whether you like to acknowledge it or not. That is the reason why I got involved in the gold industry as well. save your wealth before it's too late. =P

Regardless of the price of gold now. It is still cheap when you look back 5-10 yrs from now. Just keep buying and cost average it.

Good luck =)

Just to take it a step further, in case anyone's confused why there are Dinar 916 (22K) by PG & 999.9 (24K) by GCP. The dinar 999.9 (24K) was the standard used during the Prophet Muhammad (peace and blessings be upon him). At the time of the ruling of the second Caliph Umar Al Khattab, he set the standard that 1 dinar would be 916 (22K). I agree Dinar is slightly more expensive than the usual gold bullion. However, that is the official currency for Islam dating 1400 yrs back. Fiat currency and paper currency will eventually crumble in the coming years and we will all be going back to the gold & silver monetary system.

When that happens, one might ask. I have a 999.9 dinar (24K) & another would say I have a 916 Dinar (22k). Where's the fairness in trading that. When the time comes, the authorities will be the one who will declare which Dinar standard to be used. Either 999.9 or 916. It doesn't change the value of anything because you still own the gold.Just that 999.9 dinar (24K) could be worth 1 Dinar & 916 (22K) would be worth 3/4 dinar. Hope that clears things up.

Also, Dinar may be easier to get here now we're starting to mint our own but on a global scale. Dinar is worth more than just the weight of the gold 4.25gm by itself because it is a valid currency that will be making a comeback in the years to come.

Whatever it is, just start saving gold and converting as much cash to gold as you can. The price of gold will keep going up until Israel becomes the next superpower replacing the US. Please have a look at the USD$ today.. it is preparing for its demise and paving the way for Israel to be the next superpower. They are the ones in control of the global financial institutions and they are the ones working to bring the gold and silver back as the monetary system just as the time when King Solomon ruled. That is their belief and that is what is happening now whether you like to acknowledge it or not. That is the reason why I got involved in the gold industry as well. save your wealth before it's too late. =P

Regardless of the price of gold now. It is still cheap when you look back 5-10 yrs from now. Just keep buying and cost average it.

Good luck =)

Some points to be made.

You are assuming dinar will be the only currency in the world.  Unless the world becomes Islamic, cannot see
this happening. Pure gold is already considered a currency in many places.
If USD as you said goes under, gold will certainly have its place.

Question is how much is a dinar compared with pure gold in a non Islamic enivironnment?

Is it advisable to invest in gold now?

Thx for both your responses (goldchan too). Sorry for the assumption made earlier. Obviously dinar & dirham will not be the only currency used in the world when the time comes but it would logically make sense that it will be one of the widely used ones because of the high Muslim population globally. Could be 20-30 yrs down the line or even more. Only God knows how that's goin to turn out. But dont see it happening anytime soon as we're broken down into different countries and regions. If ruling was brought back to the time of the Caliph, one ruler despite of regions and country than it's another story... We should not go into that hehe.

I guess we all agree that the thing right now is protect your wealth. Convert your cash into gold. That's the main message. Up to the individual if he/she wants it in gold bars, jewelries, dinars, bullion etc. That one is personal choice. Some ppl like gold bars coz it looks good and feels heavy. Some ppl buy dinar coz its the cheapest entry level because they cant afford gold bars or kijang emas or hard to obtain stock, some ppl buy jewelries coz they love to accessorize.

Whatever it is, personal choice. I agree Dinar is slightly more expensive than other options available. Personally I prefer gold bars but I do buy Dinars with the remaining balance coz Gold is still gold. Like Goldchan mentioned, so many ppl minting these days, stick to which ones we're comfy with.

Gold price dropping this week la. best right? How low you all think will go ah? My hands itchy already la.. Think possible to go under US1500 per ounce?

As Tun Mahathir mentioned in his blog the paper used is the same as the ones we use in the toilet.  

where would be the best place to get our hands onto physical gold in malaysia? Local jewellery shop?

certainly not international website because of the spread and of course forex and some charges by banks. really a major set back.

No problem0 mate!   

AS for affordability, you can buy gold fractionals such as 1/20, 1/10, 1/4,1/2 oz coins alto they are not
so easily accessible here.

Jewellery is NOT a good gold hedge.....the premiums alone will be very expensive

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Added on June 15, 2011, 7:25 am
Did Maha say that?

No wonder he just lets GLCs fail and bail them out with EPF PAPER! 
Meaning all those PAPER in our EPF is actually TOILET PAPER! 

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Added on June 15, 2011, 7:28 am
Jewellery shop will screw you BIG time.....i get mine form foriegn mints and they are cheaper even
with shipping! 

For eg months back i bought maples for Rm4200. Tomei was selling at Rm4750! 

But from UOB....they are pretty fair in their prices

Yeah.. Jewellery shop costs more. dunno la... got workmanship cost etc sometimes.. Anyone know where to order cheap 1kg Silver bar ah? Pamp Suisse if got la. I know Public gold sells 1kg but any other place?

Yeah.. Jewellery shop costs more. dunno la... got workmanship cost etc sometimes.. Anyone know where to order cheap 1kg Silver bar ah? Pamp Suisse if got la. I know Public gold sells 1kg but any other place?

I think the lowest gold would go if it ever go that low would be 1480, but seeing how it rebounded twice, one more last time and if it clear 1530, then high chances gold price will never revisit 1520.

Which branches of UOB can buy the gold bullions?

http://mysmartgold.gotdns.org/liverate/

gold cheaper than UOB, silver too if compare to sg $$

What should I invest in? I am only 17 and on a tight budget. Plan on spending around RM300 odd a month on investment. Not more than RM400. Should I invest in gold or silver? Need some professional advice.

Gold is better since its value hardly drop. Silver however i would never get involved since im into gold only. Maybe there are other people could help you there. 
Gold in shop cost you 170+ pergram some cutthroat go at least 180+ per gram. If you just want to save it, either you open public bank gold account or you buy gold Kijang coin. But RM 400 will not be sufficent. at the moment gold maintain in market at 150+ per gram. Gold account saving need at least minimum 20g to start thats at least RM3k++.   

RM150++ = 1 gram.

Gold is to maintain a value storage in these testing times of world economy......

silver is well......speculative and highly volatile...high premiums....defo not for students