Glad i found this thread, now only i know Public Bank has online transaction for gold.
Gold price is getting to expensive for me.
Hope they allow minimum purchase of 1g instead of 5g.
But i don't want to go queue up at a bank every month so online transaction is better for people who wants to make frequent purchase in small amount.

Thanks for the correction.
Minimum purchase 20g is not a problem.
It's the subsequent transaction of minimum 5g i was referring to.

I'm just guessing here, not a financial expert.
I think the reason is because we cannot create more gold but we can create more houses, cars, grow more food.
Imagine there is only 1oz of gold in the world which can buy 1 chicken ... then the chicken become 2 chicken.
So now 1oz of gold can buy 2 chicken is it?
Fiat currency or gold is good as long as it increases at the same rate of growth.

This post has been edited by getsmart: Sep 19 2011, 09:57 PM

from the news:
"The ringgit weakened 1.09% to 3.1157 against the US dollar from 3.0820 last Friday as investors fled emerging markets on fears that the contagion risk of Europe's sovereign debt crisis might slow global economic growth and hurt the economies of export-based developing countries. The local unit had lost 1.98% of its value from a week ago."

Selling price applies when bank sell to you.
Buying price applies when bank buy from you.
The difference between selling and buying price is called the spread.

They charge 14% per annum which is higher than 6% FD.

I expect something similar too though not necessary next week.
March 2008 price was 1000 level.
October 2008 price was 700 level. 30% drop in 7 months.
2008 is just 3 years ago not even 10 years ago.

This post has been edited by getsmart: Sep 25 2011, 04:55 PM

I don't agree.
Bar represent raw material while coins are value added finished products.
Silver/gold coins are hobbies for rich people.