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Buying Gold As Investment V2, 2011 Gold Rush From Oil Hype
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jimmyay
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 Aug 9 2011, 03:08 PM
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Getting Started
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QUOTE(xproc @ Aug 9 2011, 02:19 PM) uob not far just 5 min drive, but public bank just 1 minute drive... uob can online buy/sell? coz i just starting can switch if wan... just more procedures and need take leave to do it...
Added on August 9, 2011, 2:21 pmya, tot of buy at poh kong or uob, but dont know where i put I would go for OUB due to 3 reason. (1) Cheaper - Poh Kong sell at RM190/gm for 999 on last Sunday (2) Lower spread - UOB less than 4%. Poh Kong is 11% (3) International gold coin - UOB = Australian & Canada while Poh Kong issuing Bunga Raya However, Poh Kong have 1 major advantage. 12 mths free interest instalment plan. Should worth 6%. |
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jimmyay
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Aug 11 2011, 06:38 PM
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Getting Started
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For those intend to go into paper gold, i found this comparison http://1-million-dollar-blog.com/compariso...avings-account/ |
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jimmyay
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Aug 18 2011, 09:15 AM
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Getting Started
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What is Bank Negara policy on GIA? Does the bank need to buy certain % of gold to back the amount of GIA deposit they have?
I still go for paper gold for many reasons. And the main reason for physical gold is when uncertainty happen such as war/govt collapse/bank collapse/etc. Like many already said, if those events happened... we have much BIGGER THINGS to worry about.
I do agree that if our banking system fails, all things will crumble. What is going to happen to Ringgit Msia? What is going to happen to our money in the bank (FD/Current & so so). If Msia govt can't save the bank, how certain PIDM can save us?
This post has been edited by jimmyay: Aug 18 2011, 09:20 AM
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jimmyay
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Aug 18 2011, 03:02 PM
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Getting Started
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QUOTE(trumpfnx @ Aug 18 2011, 11:11 AM) http://www.maybank2u.com.my/mbb_info/m2u/p.../INV-InvestmentBetter Protection: Investments in MGIA are fully backed by physical gold deposited in PAMP S.A. Maybank GIA is protected by PAMP deposit as stated. How true is that, I have no idea. However so far only Maybank state this statment in their page, other banks like Public Bank / UOB did not mention at word about physical gold. Maybank states :- The maximum amount of gold that can be sold by me/us(Maybank) will be limited to the actual balance of the gold for the time being held in my/our MGIA as recorded in the Bank’s books and records, so that no gold shall be oversold by me/us and my/our MGIA shall never be allowed to show any oversold balance. Hmm... only Maybank is saying that huh...  |
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