i used to open a public gold savings account with my family members but we have all closed and got ourselves the real stuff after I emailed public bank to ask if their product is backed by the real thing. i even asked bank negara, who doesn't seem to understand the severity of this scheme in the event of a market panic. don't be suprised if malaysia declares a bank holiday

i think the government somehow do foresee that risk n tats one of the reason y u hear about this PIDM stuff a lot on the radio. They are trying to "educate" the people early. if ever another market crash happen don't go cashing out from the banks...

I wouldn't worry about it if I were you. Holding physical and paper is entirely different. If there is a real currency crisis, the paper holders will want to redeem physical from the banks. Imagine what will happen then. Why don't you write to the banks that sell paper gold and ask them the procedure in the event customers want to redeem the physical stuff. In such an event, the so called premium Poh Kong or Tomei charges for buying back your gold isn't going to be a factor anymore. In the event of currency crisis scenario, you may be reluctant to sell your gold and if you do choose to sell your gold there would be plenty of people out there who would be more than willing to purchase from you even at spot price I dare say provided you still have the receipt for proof of your purchase. It becomes a matter of survival and no price is too great for survival.

Unless you're a trader just seat back and ride out the volatility. Its all noise. RM177 per gram now is chicken feet when you look back next year. Its going a lot higher.

This post has been edited by speed7791: May 18 2011, 11:21 AM