Well, its not investment if you have to fork out extra 30% more for something which you can buy from other dealer...

Hi, very good question. How does the company make money? I would like to add, is it sustainable?

Study the first diagram at http://mygoldgoose.wordpress.com/about/
— The key to the answer is in Choice 2:  Sell Back at Purchase Price.

— They then RESELL the returned gold at current market price; recycling and making money on the SAME physical gold while smelting more gold to sell.

Imagine, Genneva Malaysia started four years ago. What was the gold price then? The gold price was on the uptrend for the last 10 years and having sold six tonnes of gold since they started...

Therefore, Genneva Malaysia is indeed profitable and sustainable.

So smart. Wish I thought of it.

---

Added on July 6, 2011, 11:26 pm
Hi, a Ponzi scheme is a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organization, but from their own money or money paid by subsequent investors. One holds paper or a contract that spells your investment and perhaps the returns you’ll earn. Learn more at http://en.wikipedia.org/wiki/Ponzi_scheme

With Genneva Malaysia, you buy and hold the physical gold bullion in hand while earning Hibah monthly. At the end of six months contract, you have three choices:
1. Renew contract for six months based on current gold price.
2. Sell back the gold at purchase price.
3. Keep the gold.

In conclusion, Genneva Malaysia Sdn Bhd is not a ponzi.

BTW, there is a Pre-Ramadhan Gold Promotion on now till Friday, 29 July 2011. Awesome deal, 50g gold and above @ 2% monthly hibah for 3 months. More details, http://mygoldgoose.wordpress.com/2011/07/0...gold-promotion/ or call me at (012) 210 4898.

Just to share my experience with AR-RAHNU.

Yesterday I went to AR-Rahnu to get some cash from my gold.

Here's the scenario

1) Pay all my existing credit with AR-RAHNU Koperasi Iman and plan to pawn at Ar-Rahnu Bank rakyat since in their website they offer credit up to 70% while Ar-Rahnu Koperasi Iman only offer 65% from "Marhun value".

2) Straight to Bank Rakyat. Not as expected. There is hidden T&C which not listed on their web. 70% margin are for returning customer while for new customer only entitle for 65%..Yeah same with Koperasi Iman.

3) They didn't accept GOLD COIN or GOLD BAR except which produced by BNM " Kijang Emas" and selected brand such as TOMEI etc only. Also need to produced official receipt where it bought. They didn't accept any lose gold such as "torn bracelet etc". Due to a bad time by ETIQA emas what does he said.

4) As my gold are Gold coin which I bought at Arab Saudi 3years back, it's not accepted. But the officer said I can try for AG** Bank and he's correct it accepted there. Only the gold rate not that high as per yesterday;

Koperasi Iman: 916/22K = RM159
Bank Rak***: 916/22K = RM157
AG** Bank: 916/22K = RM151

In conclusion based on my experience if u have a "jewellery" and need to get the highest rate go for Koperasi Iman. If ur gold is not jewellery go for AG** Bank (selected branch hehe).

Price of Gold is skyrocking right now!!!

Im so happy. I bought 20g of gold for 47 pergram now its up 49 pergram. Just to add in my gold account.
Getting gold account do have benefit of getting when the price is low and selling when the price is high. But i rather have it as a long term safe deposit box for the JUST IN CASE (money devalue). 

If planning to buy physical gold, find the cheapest price that close to spot price..

hai , every uob branch sell the physical gold? or juz certain branch? thx

Do the Australian Nuggets come with plastic seal?

Nope if from company.. But u may find from personal, but in limited weight..

That's why i mentioned find the one that close to spot price..

999 Dinar vs 999 Gold bar. Which would you guys choose and why?

FYI, they didn;t keep much stock for other gold. Most of them are 1 oz maples and nuggets.

Gold is not like stocks need to check constantly

Just buy it,keep it until you forgot and when you remember,act surprise with the return 

Fact no.1 - Genneva gold sells at approx 20% above market prices. Dont compare with jewellers now.....   
You are paying yourself the interest that they offer plus agents fees for Pat Lu(Eagle), operating costs of Genneva and profits.

Fact no. 2 - When the merry go round stops or when gold prices tanks(not that i am saying it will), this will too. Thats when
all gold investors wants to cash out ALL AT ONCE. It depends very heavily on the uptrend of gold price to SELL the idea.
They are not even selling gold per se....they are selling AN IDEA..........gold happens to be the Hot item of the day
to latch on.  Could be Tulips if people buy the IDEA.

Fact no.3 - You never know whther its a scam until its too late.
i would say NASDAQ beats at least our BNM
Fact No. 4- We cannot prove whether its a scam or not at this stage.
Most scams only come to light when it has cause hurt.
Make your due deligience very carefully. Pat's DD is rose tinted by her motivation to do the biz. This is also a selling point.
BE AN AGENT while you are at it. Once you are blinkered into the biz, nothing else matters. Atferall,
you are making lots of commission. What else matters?

then..... what is procedure how to buy in UOB?

just simple like that?
dont need fill any form?

Is now the right time to purchase GOLD ?

Its here:-

http://www.bnm.gov.my/index.php?ch=12&pg=1...th=7&EndYr=2011

nice one.

i guess gold for long term, the price will keep hike up.

even drop also minor only. everyday i wish the gold price will drop, but the fact is    they keep raising only.

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.

dear patricia,
i did not say the genneva is fake or anything, but buying gold from a company and its director who were gold beam top people that is currently under investigation by BNM? come on, be realistic. using mahathir to launch the product, the king was not even there!

please stop promoting geneva product here. this is a discussion thread. you can create your own sales thread.

for others, you can see the step by step to purchase here
you can also see on 4/7/2011, the price sold by genneva is rm175/gm for 100gm . and you did not get the official cert for the gold, just a company printed certificate of ownership.

you decide for yourself.
goldchan,
is there any requirement that restricts msian to open uob gold account in spore?

dear patricia,
i did not say the genneva is fake or anything, but buying gold from a company and its director who were gold beam top people that is currently under investigation by BNM? come on, be realistic. using mahathir to launch the product, the king was not even there!

please stop promoting geneva product here. this is a discussion thread. you can create your own sales thread.

for others, you can see the step by step to purchase here
you can also see on 4/7/2011, the price sold by genneva is rm175/gm for 100gm . and you did not get the official cert for the gold, just a company printed certificate of ownership.

you decide for yourself.
goldchan,
is there any requirement that restricts msian to open uob gold account in spore?

Wonder what bubble u talking about . Gold bubble ?

so what's the conclusion?

please share as everyone here wants to know too, including me 

UOB, public bank, maybank or cimb. all not islamic.

i believe d only islamic that according to shariah is Kuwait Finance House gold passbook..unfortunately they dont have so many branches in Malaysia.

this question has been asked many many many time. after giving many examples and yet the question pops up again and again and again. the problem is "too many cooks spoil the soup". i'll bet people will give all sorts of advice but at the end of the day use your heart and brain to decide. the problem is many people don't want to listen to the truth and that's why they ask the same old question again.

so i suggest read back previous posts and you'll find the answer.

this is just a general statement and is not intended at any particular person