Couldn't agree more. Gold already raised to 1870, RM 178.5 is a good price to buy yesterday unfortunately I have missed it due to too risky to go bank with a lot of cash in hand

Plan to open Public Bank GIA due to they allow online transaction but I heard the spread is quite high compare to UOB

Just wondering, is there a market for gold eagles in malaysia?

Yup yup, i know and agree with U (already lar) about cash and printing + banking systems generating ghost numbers based on debts/loans/deposits.

It's the "gold is everything - bestest in the world" which i differ in opinion.
If a person is so worried about the collapse of governments and countries' economies cash currencies that one invests/buys only gold and not any other assets, think about the aftermath:
a. If it doesnt happen
oh oh..... totally "sai lang" / "show hand" approach, all eggs in one basket/asset class... and if it shoots up (heaven is a place on earth), if it falls (hell is a place on earth). Just too much of a roller-coaster ride for my old heart heheh.

b. If it does happen
Until things settle down and an exchange rate is set (for whatever is going to the the value of exchange like gold?)
Holy crap! No businesses running, no value exchange other than barter (until things settle down yar)
Er.. anyone wants to trade their 5kg rice for 1gram of gold? 5gms? Please? anyone?
Gas cylinders for 1gram? 2 grams?
ooo.. what about weapons and secured dwelling to protect oneself's family, physical gold/silver/platinum/sea shells/salt cubes and stuff?

Of course that will only last for "awhile" (i'm being sarcastic yar ) until the country/world starts being civilized again, commerce re-starts and we do things better than barter system.

In addition, i wonder what will happen to people that invested in properties & equities? All koyak - no more land, building & businesses?
Of course those who are holding FDs, Bonds and Money Market accounts all koyak lar.
What about those who are "investing" in gold via Gold Accounts? definitely wiped out too as banks collapses?
Seriously bro, if it does happen, gold vs cash vs other asset classes would be one of my last concerns

c. If it semi-happens (ie. hyper inflation and stuff - the usual kaka)
Bad case: price of Gold goes up, government tries to confiscate, down with the government, revolution, etc., leads to (b) above i think
So-so case: Inflation runs rampant, ppl still use cash, gold prices goes up but so does equities that people want/are in demand (eg. food producing companies, plantations, consumer staples, etc). Thus not only gold prices goes up during this time? I'm unsure - touch wood i've not been in a DEPRESSION like in the US 1930s-1940s. Er.. i think neither have any fellows here in the forum


Just a thought. Of course, it's definitely your God given rights to believe solely in gold bro. This is a forum to share point of views and opinions yar

This post has been edited by wongmunkeong: Sep 9 2011, 02:38 PM

brader, if u plan to hold the gold for2.3.4 year, a bit high spread can be ignore la.hehe
unless if u plant to buy and sell within a year

just my 2 cents

via online, save your time, save your energy, save your fuel, can do it at kedai mamak; anywhere..., on the spot can check actual price before confirm etc...

yesterday I did it at the meeting room. When my boss present paperwork with my CEO, I search internet via my gadget and got to buy RM179/g

Yes,. but we dont live in fantasy world. d opposite might happen as well. u wait for one day, later on d price increases. so instead of buying 55grams, now u can only buy 50grams only. lol

of coz, we want d best thing to happen according to what we want. but my experience teach me, wait wait wait, den price become very high aldy. happened to me before. my frens invite me to invest in gold during 1200, i say to expensive..i want to wait for it to crash first.. and look what happen now? 1900..

my experience might be different from yours.


This post has been edited by spikyz: Sep 9 2011, 03:27 PM

yup, best is to buy first when you are ready and just top later when price drop lor..

its not like you only buy 1 time..

Yes its very high. Its about RM7.43 compared to RM2 only for UOB. I wouldnt wanna pay the extra spread just to get the convenience of online transaction.

This post has been edited by cybermaster98: Sep 9 2011, 03:39 PM

yeah bro, thats what im saying to them. but nvm, different ppl different approach.

or averaging by monthly basis is good way as well. as long u have extra money every month, topup accordingly la. consistently and u will be fine.

No i dont think it should be ignored. Right now the spread is RM 7.43 for PB while UOB is still maintaining at RM2. UOB's spread is fixed regardless of the gold price (for now) while Public Bank & Maybank's spread increases according to the price of gold.

So in say 1 year's time when gold is about RM 230 (hopefully), PB's spread would be RM9.20 and UOB still at RM2. If you buy 200g, your losses for the spread for PB would be RM1,840 while for UOB it will only be RM400.

Maybe you dont mind giving an extra RM 1,440 to Public Bank, but i mind.

Good infor..... Can recommend some alternative way if want to buy gold with UOB? Feel scary to withdraw huge amount of money from another bank and bring to this bank.

request bank to issue bank draft and write with your name. go to UOB, open account and enjoice

by the way, gold is back to the railway

This post has been edited by NeoXeroX: Sep 9 2011, 04:38 PM

Hey there people, anyone has seen this before? I see people selling on Ebay buy can't find any info on it on Ebay. Only can find about the silver one. Looks like this

FRONT



BACK



This post has been edited by smokymcpot: Sep 9 2011, 04:39 PM

Anyone has Dinar Kelantan or OneAsia Gold to sell?

This post has been edited by lustman: Sep 9 2011, 06:55 PM

gold = forever glitter.

but how save is passbook gold?
i see the price is quite diff from actual market value.

what is one day the bank cannot pay back and set the bank buying in price low low?

Not railway yet. Has dropped USD 50 as soon as Europe market open.

Gold was rising since the Swiss peg effects tapered off, but now it dropped back from 1880 USD spot to 1830 USD spot. Does anyone know why? Could it be the news of revised inflation figures in China (they seem to be less than forecast)?

gold dropping.....will it drop summore??

lustman, looking for physical ar-rahnu kah?

i was in uob today noon and was negotiating a better rate for gold deposit. too bad it was almost lunch hour so their hq dealer is already out and they unable to quote me special price (said the cashier)

and somehow, i felt something amiss on today rate, uob - rm181/g when world price is around usd1860....maybe USD has gotten stronger due to SwissFranc pegging, thus the higher price translated. cos i remembered last time when it hit usd1910, uob was only at rm185/g.
was negotiating for rm180.50/g since for sure cannot get the 1kg rate 180/g

too much difference and i felt nervous and not comfortable to buy at that standard price. went to watch "nasi lemak 2.0' with wife. it is hilarious and has interesting views on malaysian as malaysian.

who knows after got back home, it dropped back to usd1840!!! phewwwwwww

hong chai,
can use interbank giro or rentas for immediate transfer. no need to carry cash so much lah.

its almost usd1820 now. looking for this to continue and i will definitely wait until UOB open on monday

This post has been edited by keii-kun: Sep 9 2011, 08:04 PM

Gold drop due to due to Strengthening of USD

http://66.38.218.33/kitco-gold-index.html

---

Added on September 9, 2011, 8:07 pmCongrate bro, wait it drop further then we go buy together on Monday. Which UOB you go? How to use interbank giro or rentas? My bank is Alliance bank, got this service?

I am expecting 175 on Monday, then restock gao gao

This post has been edited by hongchai888: Sep 9 2011, 08:09 PM