Hi all,

I am interested to open a Gold saving / investment account.
May I know which bank provide online buying and selling ??

Currently looking at Maybank / CIMB / Public Bank and UOB.

And Maybank says their Gold Saving account is 100% back by physical gold.. any comment for this ?

Thanks all

ya.. so far I only see Maybank provide this statement.

I just read that UOB provides the best rate / spread around.

And seems like only Public Bank offer online gold trading.. or is there any other bank offer online gold trading as well ? As it will be very inconvenient to go to the branch to do the trading.

hi, i am new here..

i am referring to the live gold chart history at :
http://www.goldprice.org/live-gold-price.html

and wonder why the price is up and down 24 hour a day ? isn't gold trading start at 9am / 5pm at New York time ?

any one can enlighten me ?

wow..

Maybank Gold price is USD 173.60 per ounce.. haha

http://www.maybank2u.com.my/mbbfrx/gold_rate.htm

a typo they didn't notice to fix even after 2 pricing adjustments.



This post has been edited by trumpfnx: Aug 15 2011, 10:51 AM

I see there are people against buying Paper-Gold / Gold Investment Account.

Is it due to the reason below ?

1) Paper gold is less secure than real physical gold, as the bank may collapse / refuse to trade the gold and return you in cash form

2) The spread on Gold Investment account is high.

3) Real physical have more value over times, especially during economy crisis periods.

Anything else ?

you can check the rate here :
http://www.maybank2u.com.my/mbb_info/m2u/p...cntKey=INV03.03

in this page, it is actually an iFrame with target source at :
http://www.maybank2u.com.my/mbbfrx/gold_rate.htm

If you cant see the latest rate, you can try hit CTRL + F5 to hard refresh the page.

prices increase slightly today and it is now on a up trend compare to last few days.. $ 1754/oz now..

UOB offer lowest spread but initial deposit is 20gm, and transaction in multiple of 5gm, and min. amount in acc must be more than 5gm. That will favors those who invest bigger amount into gold.

From the trend I see, gold price is increasing due to USD value dropping and US and Europe economy instability.

If by mid 2012 the gold price hits $3000/oz, what will be the USD:MYR then ? will it still be 1:2.9 ? or will be lower ?

If our currency drops too.. the gold price might be even higher.. did i miss something here ?

actually most of us have the money, just that we did not dare to put all of them into gold investment..

when comes to paying property down payment, i can see people could easily come out with 30-50k.. be it loan from family or bank or saving..

This might be the most important part in family investment

they say there will be a correction in coming and the gold price will drop to $1600/$1650 per oz.

Anyone knows what's the correction ?

and found this article
http://www.mineweb.com/mineweb/view/minewe...tail&pid=102055

also saying gold price will be at $1600 level in Q4 2011.

This post has been edited by trumpfnx: Aug 17 2011, 06:18 PM

http://www.maybank2u.com.my/mbb_info/m2u/p.../INV-Investment

Better 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.

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Added on August 18, 2011, 11:38 amYou can print more paper money, however you cannot "create" more gold.. (ok, you can create paper gold). That's why gold has value there. When a day comes where human no longer demands for gold, the gold's value will be like a paper money too..

But, will human ever lost interest in gold ? Gold is treated as luxury item every corner in the world, and by this, we give value to the gold.

This post has been edited by trumpfnx: Aug 18 2011, 11:39 AM

Sometimes we have to accept our lost and the right attitude is to stand up on the same spot where you fall.
Learn why you lost last time, learn the mistake.. this will make your next investment more fruitful.

RM900/5 = RM180/gm good deal for current price.

when is the right time to buy gold, is depends on how long u wanna hold on the gold.

for long term, you have less to worry as gold price will definitely increase after few years.. maybe the % not as much as now, but it is still increase in value after years..

why gold increase ? because our inflation % is getting higher and higher.. take a look at our salary in our country..

A normal fresh grad with a degree can easily get RM2.8k-3.k+ in some MNC. Do fresh grads get even RM2.8k in 5 years back ? Back in that time there is even lesser degree holder in our country.

Our RM value is dropping, and our purchasing power toward golds is decreasing, and thus gold price will always increase.

If you bought physical gold, nothing to worry, as the gold bars sure looks great no matter how you look at it, that's the humans' obsession and desire on gold.

This is my opinion and views though..


This post has been edited by trumpfnx: Aug 23 2011, 11:17 AM

those who already posses some gold.. what price do you think you will sell out your gold before its correction or dropping ? $2000 ?

regarding on where to store the psychical gold, I think you can look for safe deposit box on banks, not sure the pro & cons on this.

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Added on August 23, 2011, 12:24 pmGreat..however if you sell her jeweleries now,
you may end up spending more to buy new jeweleries for her..
but it is good if you wanna upgrade her set of jeweleries..

This post has been edited by trumpfnx: Aug 23 2011, 12:24 PM

i tried the IBFX demo account. Been trading / playing on the XAUUSD since last Friday. I started up with $5mil, now with $5.5mil.
Too bad this is not real account.

there was an earthquake at Virginia..

http://online.wsj.com/article/BT-CO-20110823-713840.html

some believe this is the cause the gold has fallen sharply..