Does anybody know why UOB's gold savings account spread is only RM2 while Maybank & Public Bank is about RM 7.20? Are there any hidden charges for UOB?

I would say this. When i invested in Maybank GSPA in May 2010, many ppl (some on this forum) mentioned that the price is too high, bla bla bla. I bought at RM 131.55 per gram then. Latest current price is RM 172.34 (buying RM164.34).

So im saying this again. Dont waste time analysing gold performances. Just start investing. The longer you waste time commenting in here without investing, the lesser your long term income is gonna be. But go over to UOB as the spread there is only RM2 not RM 7 like in Maybank.

There is no best time to buy gold. Just get on the band wagon and make money. Everything is a risk. Nobody can predict what will happen in the future but gold is worth taking the risk.

Of course you need to do your own research. I didnt mean dont analise. Just look at some of the comments here. These are not ppl who are analysing. These are doubters. These are ppl who are waiting for all the indicators to look perfectly good before moving into it. Yes i too analysed but i surely didnt spend a few years doing that. Sometimes we wait too long for the perfect chance and when it comes, we end up waiting for something even better.

Many of those who said that buying at 131.55 at that point in time was a mistake are also those who are saying that 172.34 today is also too high. Believe me, they will also say the same thing when the price hits RM 180 and above. In the end, they just wont buy but they will continue 'analysing' repeatedly.

Ppl must realise that gold investment is highly volotile. There is no such thing as a perfect time. You may get a better time than others but there's a certain element of luck involved. When i bought mine in May last year, the following week it dropped to below RM 130 so yes that was a better time but the only thing that means is less income compared to those who bought at the later price. But what 'irritates' me are ppl who continue to doubt and dont bother investing and then as the price goes up they keep saying its too high.

Gold hit the RM 131 mark a few times in the past year. Example, 11/06/10, 24/09/10 and 28/01/11.

Since we're on the topic, based on the current run that gold is having, what do you think will be the max price it will hit in the next month or so? Today the prices stagnated and hovered around RM 172.

Gold prices just hit US$ 1,787. US stock market falls again. Waiting to see impact on Malaysia in the morning.

Gold is on another bull run. It has crossed the US$ 1,800 barrier per ounce for the 1st time in history. Lets see Malaysian prices when banks open in 1 hour.

For those of you still doubting, stop and get on the bandwagon before its too late.

What time frames are we talking about here?

Yes Maybank is selling at RM 178.91. Spread roughly the same between the both.

Yes US$ 2,000 per ounce is only the next target barrier but something that's very possible to achieve. But gold is very volotile. 1 hour ago it was trading at RM 5,473 per ounce and now its dropped to RM 5,360. But as long as the trend is upwards, the price will keep going up.

But the question is: Do we still continue to invest or just be contend with current investments? Im thinking of going into UOB now since the spread is only RM2 compared to Maybank with RM 7.20

No its RM 2 vs RM7. UOB seems fixed but Maybank fluctuates as the price increases.

What letter? I didnt get any letter. Do provide more details please.

Buy at UOB. The spread is only RM2. Maybank will charge you RM 7+.

Plus if ure investing in gold, make sure you buy at least 20-50g. Anything smaller than that is pointless. The profits even if the price increases, will be minimal.

Maybank selling at RM 171.72 this morning. UOB hasnt updated yet. Gold now trading at US$1,755 per ounce. Question is will the gold drop further? What you guys think? Im seriously considering going into UOB today.

2 interesting articles on CNN Money:

http://money.cnn.com/2011/08/11/markets/gold/index.htm

http://money.cnn.com/2011/08/11/news/inter..._debt/index.htm

No gold surely isnt my major investment. Mine still is property and ASB. But still nobody wants to experience losses on any investments.

The problem i see with gold is the rise over the past week was too drastic. When something rises so drastically, its bound to drop the same. Gold has been so volotile this week which makes it more risky. Thats why i would prefer UOB as the spread is only RM2. High chance of profit and lower chances of major losses as compared to banks with higher spreads.

Whats your view?

I just saw KFH. The spread is so damn high! RM 10 per gram. Crazy!

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Added on August 12, 2011, 9:31 amI just saw KFH. The spread is so damn high! RM 10 per gram. Crazy!

This post has been edited by cybermaster98: Aug 12 2011, 09:31 AM

SHould have just kept it and opened separate accounts with other banks if u wish.

Gold investment is not for short term gains. Look to the future. Gold will rise but maybe it might hit rock bottom before that but 20g is nothing much to gain or lose. So dont worry. Sit back and just observe.

Forget physical gold. The extra premiums you have to pay during purchase and sale isnt worth it. Just stick to paper gold. We just want the profits not the gold itself.