Since July '11, gold price has been breaking unprecedented new highs so the euphoria can't possibly continue without any severe retracement in its "bubbling" price.

Anyway, I've made most of my physical gold purchases in bulk a few years ago when it's just slightly below USD1000/oz before it crushed that price barrier soon enough within the next few months and has since cashed out at slightly above USD1800/oz just recently except for 1 special type of gold coin which is to commemorate the millennium year of 2000; "Syiling Peringatan Tahun 2000" that has a face value of 500 Ringgit Malaysia imprinted on it with an impressionable caption of "Menuju Kegemilangan Abad Ke 21" that cost me a premium of RM2000 per coin piece.

Yeah, I've been dabbling in physical gold since year 2000 and prices were dirt cheap then, a lot of wonderful fond memories there however got to part with almost everything and hopefully, will not regret it. It seems to me like the time is ripe to consider buying stocks now as prices continue to break new lows in equities.

I still remember there was a custom design pure gold ring weighing 8gm which I've bought can't remember exactly how much it was though shouldn't cost me more than RM350 when I was younger in year 1992 for my own use and many years later it'd served as the perfect wedding ring for my wife in year 2002. I did come through to give her another one more ring that fit the occasion the following year and it's made of pure platinum adorned with a tiny diamond. (I'll follow up with pics a bit later on as I've got to makan breakfast outside now).

A few digital images captured by Canon PowerShot SX1 IS;-
Pure platinum ring weighing ~6gm (top), RM500 Millennium commemorative gold coin (center) and finally, pure gold ring weighing ~8gm (right)

This post has been edited by MOBAJOBG: Sep 25 2011, 10:10 PM


Attached thumbnail(s)

Ahem, ladies and gentlemen or guys and gals.

I don't know whether you already know it or not, ...but I've heard from a few reliable sources quite recently who is also the executive chairman and another person, Head of Research of a multinational financial cum property construction company that I've been working at for some 20 years already that "There is going to be a global recession and it would take about 385 days to recover according to the latter calculations." The tell tale signs of economic gloom and doom started to appear since February '11.

So, keep your helmets on and fastened your seat-belts for the impending crash and burn hopefully, not be killed altogether.

This post has been edited by MOBAJOBG: Sep 26 2011, 03:22 PM

By the way, I've edited my post a bit and are highlighted in blue.

The conclusion is simple and pretty much straight forward. Time as we're living in now is probably bad already to some segment of people in our society and next year is going to be worse before the global economy would stage a rebound for the better. Take care.

This post has been edited by MOBAJOBG: Sep 26 2011, 03:32 PM

I've an advice to share ...never catch a falling knive, just let it be. Pick it up only when "the eagle" has finally landed on solid ground.

This post has been edited by MOBAJOBG: Sep 26 2011, 03:40 PM

As long as you don't simply spend away your hard earned income such as minum designer coffee in Starbucks daily, buy genuine Rolex wristwatch or Montblanc fountain/rollerball/ballpoint pen etc, you should be able to ride out the economic & financial storm safely and soundly. Good luck.

To those who have bought gold at more than RM180 please don't be in despair or get into a state of panic-sell frenzy. There is a silver lining. If you've not sold it earlier and is still keeping it, better don't sell at this price point, just buy more of it when the time is right. Gold is finite and a valuable natural resource ...you just can't lose with it as it's not made out of paper like fiat money.

This post has been edited by MOBAJOBG: Sep 26 2011, 05:07 PM

Thanks for correcting my typo, in my haste I've added another extra 0 which I've edited in my original post.

This post has been edited by MOBAJOBG: Sep 26 2011, 04:42 PM

...so that makes people like me who had sold and profited a lot or untung dengan banyak sekali who are not happy because no more physical gold in their possession already.

This post has been edited by MOBAJOBG: Sep 26 2011, 05:36 PM

I've seen gold at many pivotal price points before since year 1992 so I'll share a little of what I know and provide you with a flashback of just 2 years for your reading pleasure hopefully would make it easier for you to come up with your own qualified decision.

The last time I'd checked in the past the gold price when I still had any was Sept '09, iirc it's ~RM128 per/gram. Thereafter, I didn't bother to track its price until July '11 which was ~RM188 per/gram and I've made a clean & quick exit just recently at ~RM180 per/gram.

This post has been edited by MOBAJOBG: Sep 26 2011, 06:25 PM

Quinn, there is no need to leave this HOT and perhaps to an extent controversial opinionated thread. The world is large enough for everybody to live in, ...rich or poor, big or small, smart or dumb, beautiful or ugly, fat or slim, strong or weak, old or young, wise or crazy/mad, flexible/adaptive or stubborn, technical or layman and etc ...well you know what I mean. Just agree to disagree and all's good.

Your contribution certainly lights up a different part of the whole picture of our beloved GOLD while buysell another portion of it and others would fill the rest. There is definitely a part for you here so let's continue to participate objectively and try your best not to be perturbed by things which are never in your control.

This post has been edited by MOBAJOBG: Sep 26 2011, 11:33 PM