If the purpose of buying gold is investment rather than collection, paper gold (gold saving passbook) is still the cheapest and safest.
Buying Gold As Investment V2, 2011 Gold Rush From Oil Hype
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 Jul 26 2011, 11:20 PM
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#1
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley  
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Jul 27 2011, 09:24 AM
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#2
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley
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QUOTE(wysiwyg17 @ Jul 27 2011, 04:25 AM) What IF USA go bankrupt, what will happen to the USD and affect on gold. Seems that sooner or later they're going to loose their AAA rating. DO you think that we're going to peg our GOLD to other currency or remain as is. Last night RM is 2.95 to 1USD... What the GOLD price going to be then... UP or DOWNNNNN The cheaper USD against MYR, the cheaper we would be able to buy with our RM. So when USD and Gold price drops at the same time, that would be a nice timing for an entry. However IMHO, I wouldn't make any entry until a correction occurs. Gold is way too hot now... |
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Jul 27 2011, 09:56 AM
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#3
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1,766 posts Joined: Jan 2003 From: Klang Valley
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QUOTE(prophetjul @ Jul 27 2011, 09:39 AM) It may get hotter before it cools. This may be true also. Gold just hit 1622.98 USD/oz. A new high... I regret making a 50% entry at 1500 USD/oz. I should go "all-in". LOL a) USA Treasuries may be down graded. b) Greece still unsure c) Euro still unsure |
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Jul 27 2011, 11:19 AM
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#4
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1,766 posts Joined: Jan 2003 From: Klang Valley
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Dear D3vilsim, gold is gold. Forex is forex. If you want to invest in gold, I'd suggest either Maybank or PB bank gold saving account. If you are interested in forex, you will need to check out other topics.
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Jul 27 2011, 11:42 AM
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#5
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley
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QUOTE(D3vilsim @ Jul 27 2011, 11:32 AM) Oh sorry. probably i got it wrong. I tried a forex demo account and saw there is a place for us to trade metals (gold & silver). i thought this is how we invest gold. Nope. You didn't get it wrong. What you saw there could be Gold / Silver ETF. Those are very popular in the State. One of the example is SPDR Gold Trust. |
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Jul 27 2011, 12:21 PM
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#6
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley
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Gold is for long term. I'm saving gold for my retirement. Do consider gold saving account from Maybank and PB Bank.
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Jul 27 2011, 02:50 PM
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#7
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley
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The only thing I dislike about Maybank Gold Saving Account is that their buying price is way too low than the selling/COMEX price. RM5~RM6 difference which equals to about 3%~4% commission (@ RM150/g).
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Jul 27 2011, 04:09 PM
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#8
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley
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You can change the amount into physical gold. You just need to cash out into RM, and buy Maybank's Kijang Emas. Of course the Kijang Emas is more expensive than the COMEX price because you will be charged the labor cost of making the gold coins.
Link: Maybank Daily Gold Price --- More good news of Gold rush is surfacing... the correction is near. 2 Gold Miners ETFs to Watch |
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Jul 27 2011, 09:50 PM
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#9
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley
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QUOTE(whizzkid @ Jul 27 2011, 08:27 PM) LOL, if so, there's no point open the gold account if u need to buy the gold yourself. Same like u open normal saving account. You asked me can or not mah. The answer is yes loh. As Lustman said, you want solid gold, then buy solid gold loh. You want simple investment, then buy paper gold loh. I'm basically comfortable with Maybank Gold Saving account. It's Maybank mah.As we know, Kijang Emas is very limited and only certain branches do have sell it. Another thing, if we cash out the money, and there's no Kijang Emas can be bought at that time, it just waste ur time open that account. How about PB and other gold account? |
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Jul 27 2011, 10:25 PM
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#10
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley
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Thanks for the info. I think I would go for UOB on my future entry. Maybank gold price spread has been increased to RM6.36 (4%). WTF!
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Jul 28 2011, 01:25 PM
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#11
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley
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QUOTE(Debuantu @ Jul 28 2011, 01:17 PM) On Monday gold price was US$1600/oz AU$1502/oz Spot gold is traded in New York Globex, New York Comex, London, Hong Kong and Sydney. There would be variation among these exchange.Current gold price is US$1623 AU$1470 Do you spot the difference? While gold/oz is increasing in USD, the price per oz in AUD is getting cheaper. Do you know why? How's it like in ringgit? |
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Jul 28 2011, 02:29 PM
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#12
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley
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QUOTE(keii-kun @ Jul 28 2011, 02:18 PM) and also, if you are a very long term saver, 3-5 years, spread does not matters It does matter. If you are with Maybank Gold Saving, you will be making 4% less when you cash out. 4% of RM100k is RM4k leh! |
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Jul 28 2011, 08:43 PM
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#13
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley
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Will definitely check out UOB which claimed to be having minimum buy-sell spread. And yes, it does matter.
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Jul 29 2011, 09:43 AM
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#14
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley
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During Invest Fair Malaysia 2011, I attended a talk by Al Rajhi Bank personnel. They are selling physical gold for investment purpose. However the minimum amount is RM100k. They even provide limited-time-free-keeping of the gold you purchase.
http://www.alrajhibank.com.my/personal_gold_i.shtml IMHO, keeping physical gold under the bed is still more risky than keeping it in the bank, or buying paper gold. |
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Jul 29 2011, 10:44 AM
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#15
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Senior Member
1,766 posts Joined: Jan 2003 From: Klang Valley
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QUOTE(prophetjul @ Jul 29 2011, 10:02 AM) Each has its risks......eg the bank may not have the gold! As long as it's Maybank, who cares? Do you think Maybank keeps all of its customer money in the vault?Added on July 29, 2011, 10:49 am QUOTE(kuhfayLover @ Jul 29 2011, 10:37 AM)  can nego? isn't the buying/selling price is fixed by according to the rate in their website?!This post has been edited by kelvinyam: Jul 29 2011, 10:49 AM |
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