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 Buying Gold As Investment V3 - $1950?, Gold rush brings windfalls and warnings

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noobandroid
post Sep 6 2011, 01:39 PM

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im also considering one, but with maybank, cause all my acoounts are attached to mbb
noobandroid
post Sep 6 2011, 02:09 PM

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QUOTE(Nidz @ Sep 6 2011, 02:01 PM)
difference between selling price and buying price.
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i was also wondering..
noobandroid
post Sep 6 2011, 02:34 PM

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QUOTE(jerryloon @ Sep 6 2011, 02:27 PM)
TQ to joey85.
However both banks has a minimum request to open an account.
It there any bank can invest much low request.
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i am planning on going for MBB though spread may be high, but 1g investment increment, poor mans' game
noobandroid
post Sep 6 2011, 02:44 PM

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QUOTE(jerryloon @ Sep 6 2011, 02:37 PM)
TQ. a very good infor.

let said I buy/sell 1g gold. Does it include the spread price of gold?
UOB has a low spread but I need alot of $$ to open the account. A minimum require 20g.
Is there any bank offer low minimum require?
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spread is in % difference between buy and sell price, so u may buy in high price, but sell is much lower

Added on September 6, 2011, 2:45 pmlow minimum require = bigger spread
like maybank 4.xx%

This post has been edited by noobandroid: Sep 6 2011, 02:45 PM
noobandroid
post Sep 6 2011, 04:09 PM

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QUOTE(NeoXeroX @ Sep 6 2011, 04:04 PM)
MERCY MERCYYYYYYYYYYYY GOING DOWN!
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yes! yes! time to buy!!!!
noobandroid
post Sep 6 2011, 04:29 PM

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QUOTE(NeoXeroX @ Sep 6 2011, 04:23 PM)
ya, see also scare....  sweat.gif
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but i see the buy/sell at banks din change that much, still at rm187 for mbb, how do we speculate the best time to buy/sell if like that
noobandroid
post Sep 6 2011, 10:22 PM

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i still cant understand the relation between USD value of gold and the price of what we buy here.
MBB is selling at RM187 as of this afternoon, so how do i interpret this in USD thousand? it is how many thousand USD to have the price of RM187 in MBB?
noobandroid
post Sep 6 2011, 10:53 PM

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QUOTE(bigwolf @ Sep 6 2011, 10:46 PM)
Its spot gold per gram in USD x exchange rate. Assuming spot gold per gram is USD61 and exchange rate is 3.011

USD61 x 3.011 = RM183.67

Spot price fluctuates a lot in a day although forex rate is not so much. Perhaps MBB also charge a few ringgit extra for processing fees or something. So RM187 depends on what spot rate & forex rate & processing costs(?)
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i found the spot gold chart has MYR and gram in goldprice.org, much more convenient to understand, direct read and no need calculate
noobandroid
post Sep 6 2011, 11:00 PM

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QUOTE(bigwolf @ Sep 6 2011, 10:58 PM)
goldprice.org is nice  thumbup.gif  too bad no MYR for silver though
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i tink not much people looking at silver, although stable as a line through, some people think "no risk no fun" maybe (?)
noobandroid
post Sep 6 2011, 11:07 PM

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QUOTE(bigwolf @ Sep 6 2011, 11:04 PM)
As gold gets too expensive for capital preservation, ppl might start looking at silver as alternative?
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that might be a point, in maybe 60 years forward hmm.gif maybe that time is silver investment era..
noobandroid
post Sep 6 2011, 11:10 PM

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QUOTE(cybermaster98 @ Sep 6 2011, 11:08 PM)
The Swiss Franc dropped drastically from 3.80 to 3.48 in just a few hours because of this:

http://www.bloomberg.com/news/2011-09-06/s...t-the-euro.html
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so should we plunge or pull out?

Added on September 6, 2011, 11:15 pmcurious one thing, shouldnt we be monitoring the gold counter rate of the banks since we are dealing with them?

This post has been edited by noobandroid: Sep 6 2011, 11:15 PM
noobandroid
post Sep 7 2011, 09:31 AM

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QUOTE(hongchai888 @ Sep 7 2011, 09:22 AM)
Maybe no one left after Europe market open today, who know
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chance to buy gold as gold price goes down hill for a while
noobandroid
post Sep 7 2011, 09:39 AM

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QUOTE(cybermaster98 @ Sep 7 2011, 09:33 AM)
Gold will always be there unless there is a total collapse of world markets. Gold now trading at US$1,871 and about RM 183.91 (Maybank).
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good time to buy right? yesterday counter rate was near 187
noobandroid
post Sep 7 2011, 09:58 AM

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QUOTE(xproc @ Sep 7 2011, 09:55 AM)
due to 2nd correction and swiss franc right? hmm.gif  hmm.gif
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thats why im waiting for an answer, go or no go
noobandroid
post Sep 7 2011, 01:30 PM

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QUOTE(hongchai888 @ Sep 7 2011, 01:25 PM)
Gentleman, start your engine
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got my first 2 grams to play with tongue.gif rclxms.gif

Added on September 7, 2011, 1:30 pmat mbb RM180 per gram

This post has been edited by noobandroid: Sep 7 2011, 01:30 PM
noobandroid
post Sep 7 2011, 01:32 PM

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good lo, now invest gao gao liao
noobandroid
post Sep 7 2011, 01:35 PM

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thats why i go buy 2 grams to play, yesterday 187 30 minutes ago 183, 3 minutes ago when my passbook process is 180, and now 182
noobandroid
post Sep 7 2011, 01:37 PM

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i was so in luck la, buy when it is lowest

Added on September 7, 2011, 1:40 pmI'm a happy man.. for this moment

This post has been edited by noobandroid: Sep 7 2011, 01:40 PM
noobandroid
post Sep 7 2011, 01:52 PM

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QUOTE(cybermaster98 @ Sep 7 2011, 01:50 PM)
Well i wouldnt say its the lowest. Maybe the lowest for this week so far. Current price is RM 181.37 at US$1,840. I think it may drop further.
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i bought at RM180.44 which lasted for just 2 minutes or so, so for this moment, yeah im in luck
noobandroid
post Sep 7 2011, 01:55 PM

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QUOTE(Taka_0 @ Sep 7 2011, 01:53 PM)
aiya...sigh like cybermaster mentioned before... just rm2/3 fell yet ppl so "bising2" here. gold is for long term investment laa. u will get 200-300 increment in a year, why so noisy about 2/3 fell?
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maybe scare market cripple, and gold goes into the drains?

This post has been edited by noobandroid: Sep 7 2011, 01:56 PM
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