Lol....why not make any research first    current market price is 171.37, you can get lower than that 

171.37 is rate at Monday 16/05/2011. The price is depends on the gold type and the seller. If you buy more than 100gram you can get lower price. But pay 177 is too high in my opinion. Nowdays got lots of gold seller, no need to go to famous gold shop because they will charge you kaw2

Because it is a retail price recommended.

Some sort like that, if you want to view it like that, aka profit + workmanship + cost incurred.

You only can resell the gold at its real actual worth, aka roughly near the paper gold price.

-11% is still an hefty premium paid or spread paid, if solely from the view of investment perspective.

Gold price needs to surge 11%, just for you to breakeven.

If no hurry to sell, just keep the gold. You'll probably get your capital back within a year.

If I'm not mistaken, Poh Kong minus between 8% to 11% depending on the purity of gold and one must produce Poh Kong's original receipt to qualify.

Nonetheless, it's better to sell the gold back to the original source of purchase or one will have to settle for 20-30% discount (depending on the purity of gold) if sold at other goldsmith shops.

Cheers!

Gold price can drop, instead of up 11%.
You never know.

From investment pov, you start of with 89 instead 100 you paid, disregard yield you profit or not, is something very big spread to start with. 

20-30% is the real and actual worth of gold.
Is there any black and white documentation stated they will buy back at -8 to -11%?

When gold price is surging, there is no problem for any seller to repurchase back the gold sold.
What if the gold price become RM100, they still repurchase back from you at Rm177 - 11% = Rm157?

I am just going to try asking a few questions. I hope I don't anger anyone as it is probably repeated countless of times but I need a bit more assurance as gold definitely not my thing.

The situation is, my mom wanted to invest in gold. I am a little bit sceptical as my mom was scammed previously by FOREX.

So, these are the questions.
1-the price of gold is at all time high. Will it still go higher?
2-Will there be a possibility that the drop in 2008 be occuring?
3-Is it a good time to enter the gold market now?

I am advising my mom to invest in the passbook type  though, not physical gold type. Thank you in advance.

perhaps your networking is good thus U be able to start off early at 2002. as you may have some friends in investment circle.
I only knew about it in 2006, started in 2008. procastinated for 1.5 year.
I never get the chance to buy at RM2300+ /oz at UOB in 2006. Best I got is RM2800+ in 2008 when the price drop. After that no stock lor.

Well, you can use the technical as a guideline lah. RSI-14 weekly chart < 30 :- buy
but it seldom goes down to 30, thus maybe at RSI-14 around 50 you can buy some, more if it below 50, even more when it 40.
RSI-14 > 70: sell,  Stick to it no matter what happen to the price movement.
Just don;t take forever to make your commitment, price won;t wait for U. The days where low prices in gold and silver is long gone, you have to pay existing prices. It just how much lower it can go from now,  the way i see it.
You average it out over time U will be fine.

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Added on June 2, 2011, 10:33 am

one should at least get one safe box lah, I do forsee there may be lack of safe box in the future. It's expensive to construct one, in the future oil price goes up, construction cost will be enormous, thus it will never be built at a reasonable price.
Just treat it as an insurance policy.

Kuala Lumpur Main
Address Level 2, Menara UOB,
Jalan Raja Laut,
50350 Kuala Lumpur

http://www1.uob.com.my/business/GMIM/GMIM_...ous_metals.html

On a personal note, I realized that Kijang Emas has a premium over UOB's bullion coins. Like today, Kijang asking 4837 while UOB's Canadian Maples/Oz Nuggets are asking 4761. Come to think of it, Kijang will only probably known in the local market while the bullion in UOB's counter are more internationally recognized. Won't international bullion (eg. canadian maples, ozzie kangaroos, pamp suisse) have a better advantage over kijang in both value and recognition?

what do you guys think?

any1 know how to calculate oz and gram..
for example, if the price rise to 1800/oz, then how much is it for $/g

thanks for your calculation !

so it's time to get in more gold prepare for chinese new year angpau...