Welcome Guest ( Log In | Register )

Bump Topic Topic Closed RSS Feed

Outline · [ Standard ] · Linear+

 Buying Gold As Investment V2, 2011 Gold Rush From Oil Hype

views
     
double7
post May 10 2011, 01:56 PM

Getting Started
**
Junior Member
128 posts

Joined: Apr 2009
Anyone bought gold bullions (physical gold)? Where do you guys keep them? Do banks offer services to store golds in their safes?
double7
post May 12 2011, 10:06 AM

Getting Started
**
Junior Member
128 posts

Joined: Apr 2009
Is it better to buy a single piece of gold bar weighing 250g or any larger weight.. Or is better to buy in large quantities of 10g or 20g gold bars amounting to that single piece of gold bar's weight?

For example,

buying 1 piece of 250g
user posted image

VS

buying 25 pieces of 10g
user posted image
double7
post May 12 2011, 10:18 AM

Getting Started
**
Junior Member
128 posts

Joined: Apr 2009
QUOTE(Sifha238 @ May 12 2011, 10:10 AM)
Buy 25 piece of 10g, easy for you to sell I guess  smile.gif
*
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..
double7
post May 12 2011, 12:00 PM

Getting Started
**
Junior Member
128 posts

Joined: Apr 2009
QUOTE(Jutawan @ May 12 2011, 11:33 AM)
Seems like a buried treasure later. The best place to bury the gold? biggrin.gif
*
Not sure yet.. It's either my house lawn or my dad's orchard land.. If my dad's orchard there's a higher risk of soil movement due to being near foothill as well as there's a river nearby.. Heavy rain might raise the water table causing soil movement..

My house lawn has concrete around the land due to the drainage structure so I think soil movement is minimal.. The biggest concern is me actually forgetting about burying it.. Then it really will end up as buried treasure biggrin.gif
double7
post May 14 2011, 10:49 AM

Getting Started
**
Junior Member
128 posts

Joined: Apr 2009
QUOTE(GoldChan @ May 13 2011, 12:53 PM)
I only buy 1 oz stuff unless U super rich then buy 10oz or kilobar.
For small change, you can get 1/10 oz , however the premium is 10% more.
if that the case better get silver lor.

Large bar disposal to general public may be difficult unless U willing to sell back lower to banks or goldsmith
According to pricing, there is not much differences between 1 oz bar and 1 kilo bar.
So stick with 1 oz bar/coin.
it's is your RM10,000 notes in the future.

For RM10 notes, RM100 notes that one you have to buy silver lah.
Cheapest branded gold bulllion is PAMP and credit sussie 1 oz bar but
actual price will depend on MKS distributor how much they 1 2 sell to you.
U 1 2 bury in 1 place or 10 different place.
I choose 10 different place as i 1 2 hedge my bet.
*
Probably just 3 different places. Tired la digging too many places tongue.gif Must be around 3 feet which is about a waist deep.
double7
post May 19 2011, 10:27 AM

Getting Started
**
Junior Member
128 posts

Joined: Apr 2009
Anyone bought gold bullions from UOB before? Is it difficult to get gold stock/supply? Does the bank offer free safe deposit box?
double7
post May 20 2011, 12:15 PM

Getting Started
**
Junior Member
128 posts

Joined: Apr 2009
QUOTE(ycyip @ May 20 2011, 11:56 AM)
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?
*
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.

Topic ClosedOptions
 

Change to:
| Lo-Fi Version
0.0397sec    0.69    7 queries    GZIP Disabled
Time is now: 7th December 2025 - 09:26 PM