can we buy silver in malaysia ...like gold account??

Bretton Wood Agreement v2 anytime soon?

The huge hike in gold price isn't only because of the demand for gold, but because they are measured in USD which is in pitfall. Valuing gold in different currencies gives you a better picture.

http://www.goldprice.org/spot-gold.html

AUD, CHF, NZD, CAD and SGD are now the stable currencies.

There are two problems that are contributing to the USD pitfall: Stupidity and more stupidity, which ironically, rest within the brains of MIT and Harvard alumni Ben Bernanke and Obama.

It wasn't since 2008 after the financial crisis that the USD started falling. It was wayyyy earlier than before that the USD was already devaluing.

Way earlier back in 1971 when America decided to put their dumbest president in office just to see what happens. Richard Nixon told the nation the Gold Standard was bad for the economy, and decided to take USD out from the Bretton Wood Agreement. He even went on and told the world's central banks to empty their gold inventories and replace them with worthless US$. This is why the US$ is the world's largest reserve currency until today, and China is making noise for a new reserve currency.

The series of war between America and Soviet and the Iranian Revolution followed on. War cost money, and America didn't have the money to pay. So what's the solution? Print more money! And then put circulate them in the public! This massive QE programme led to the unprecedented gold spike of US$850 an ounce in 1980, which is equivalent to US$2,000 if measured in 2006. The massive monetary inflation had brought the country to its knees and America was on the verge of a social collapse.

To tackle the problem, Henry Paulson, then treasury secretary, was forced to raise the interest rates to 20%, and it did what it was meant to do. Gold price dropped, US$ rose and the inflation controlled. Gold continued to drop until 1999 when the value was US$250 an ounce.

And then the Internet Bubble in 2001, America was experiencing another economic crisis. Alan Greenspan then chairman of the Federal Reserves reduced the interest rate from 7% to 1% in an effort to encourage spending in the economy. This was the cause for the housing bubble that led to the financial crisis 2008.

And pouring more fuel into the fire, America put another dumb president in power. Obama raised the debt ceiling, proposed his healthcare reforms(more government spending) and forced the Congress to approve his massive stimulus package to bailout companies. This ballooned the already exploding national debt of US$14 trillion (which is higher than the world's GDP combined  ) and America is trying to pay back all its debts by QE2.

Investors now know 2 things :- low interest rates will no doubt create another bubble and QE2 helps nothing but devalue the US$. If interest rates does not rise, QE2 not stopped and the national debt not controlled, investors will stay away from the US$ and you will continue to see the gold price skyrocketing (in USD).

EDIT: Those who do not know history are bound to repeat history. If you have the time, google Depression of 1920-1921 which was worse than 1929 and look how the government solved the crisis in just 18 months.

Also, google the German Weimar Republic 1923 and their government bankrupted the country. Whatever their government did back then, is exactly what the Obama administration is doing right now.

Gold price is falling bro, perhaps this is a golden opportunity for new investors!
http://www.goldprice.org/spot-gold.html

I'm also interested to open a gold investment account. 

Let's hope that the price will continue to dropppppppp~

UOB has many branches nationwide. View http://www1.uob.com.my/webpages/branches.htm

Hope this helps. Cheers!

As long as we keep the gold safe, should be ok

That's true.. I have a long term plan for physical gold.. Worst case if paper money suddenly loses value or there is chaos like war etc can use the physical gold to survive.. Best case I don't have to use it and just pass it on as part of my will to my children..

I also plan to bury the gold instead of keeping it in safe deposit box as when the worst case scenario pops up, highly unlikely banks would be open for me to withdraw the gold.. Sounds paranoid but I did some research and quite a number of people do bury their gold..

There is banks overseas with normal accounts that allows online trading gold spot at RM1-RM2 spread and silver spot at RM.041-RM0.50 spread per gram.

for even better spread perhaps forex?

Quite pricey......take the 1/20 oz rabbit selling at Rm352.14

Gainsville sells at $99.1  approx Rm304 . Thats a 13.6% difference!

http://www.gainesvillecoins.com/category/3...ld+Bullion.aspx

100g Pamp selling Rm15,247

Gainsville selling Rm15,173

http://www.gainesvillecoins.com/category/292/Gold.aspx

Almost the same.......

From my personal view, in case u plan to pawn it for any reason that u'll face in the future, go for jewellery to avoid a lot of constraint in order to pawn it. Yes, u'll lose a bit for it's "upah". Or u can purchase a kijang emas gold coin produced bty BNM. And u need to bring that gold cirt. if u r goin to pawn it at Ar-rahnu.

Just called Bank Rakyat pawn centre(Az-Zahab scheme), they accept gold coin & bullion for pawning.
But, only selected maufacturers are recognised :
i-Kijang Emas
ii - Dinar Kelantan
iii- UOB physical gold (Mapple leaf & Australian nugget)
iv- Jewellery shop(Poh Kong & Tomei)
v-1Asia(cant remember its full name)

You need to bring receipt or serial number of the respective bullion for confirmation.

yes ikram.adi,

I use USD to buy/ trade Gold & Silver. Yes, i do invest in physicals gold, Silver bars, and i concentrate study chart and fundamental backup everyday. Stock sometimes.

This week we're expected to see it go higher. I wanna  buy more stock as well.right now it's US$1540 per oz.

If it goes down to US1500 also i think thats good already. But according to previous years pattern, there should be a low in June/July and once August comes it will go up so dont get left behind.

Make sure you check the gold price daily so you know when it is low yeah.

Thats why its "WISHFUL"   

wow you buy land at a jungle? going to built own Mvillage?
then how do you wanna get those fuel for your motorcycle? I think better use buffalo cart..no petrol used

am also planning to migrate to those hulu area with water source..but I guess that probably around 5years+ from now..

big big drop in gold.. now around USD1500...

usually how long or under what circumstances do you guys keep the paper gold before selling it off?

You guys are luckier

In Sabah, once they run outta stcok.......no more unless someone sells back to bank
Thats for Maybank and UOB  - 1 oz Kijangs sold out years ago