ok, deleted all ur listing.
yeah i know, allowing sellers to add / modify / remove the listing is the most ideal way of doing it. but it cannot be achieved without certain amount of manual programming. unfortunately i'm a little busy to do the programming because my software development business needs a bit of extra attention from me in recent weeks. i will implement it once i get a little free up from my business, probably in around december thanks for the feedback though!

This post has been edited by property101: Nov 12 2011, 01:14 AM

no problem bro, have added for you, please check out at:
Sell List - Silver in Malaysia

i have removed those outdated listings. at any point of time, the list will only contains 30 listing. if there is a new listing comes in, the oldest listing would be taken out, fair right?

Check out the website:
Silver In Malaysia


btw, i'm trying to learn something about Dirham. is there anyone one here invest in Dirham? what is the main reason people would like to invest in Dirham? what could be the advantages and disadvantages investing in Dirham? Please enlighten me


This post has been edited by property101: Nov 13 2011, 09:26 AM

Many people joined the group purchase and use up the capital (to buy silver). Need to wait for next month salary to buy more.

too bad that "pat gua" is so small and not much details in there. even if they have a 1kg coin also cant see much in the "pat gua". the details are not very comprehensive

haha...thats really cool! 2 doggies and how many dragons?

This Will Be The Decade Of Silver - Interview With Eric Sprott
NOVEMBER 14, 2011
seekingalpha.com

Patrick MontesDeOca: Mr. Sprott, can you please give us the current situation in terms of price in the silver market? What you might see in the short term as it unfolds in the next six to twelve months, what is your forecast?

Eric Sprott: Sure, I take a longer term view than six to twelve months. I’ve been involved in silver for about probably almost ten years now and of course the price of silver has done wonderful things in that time period even though recently it has come under a lot of pressure. My thesis being that even though the last decade has been the decade of gold, this decade will be the decade of silver. I can only imagine that it will go back to its historical relationship to gold of 16 to one in term of price. And as an example of 16 to one, with gold at $1600 it would suggest that the silver price should be $100. And most of the data that I look at certainly as it pertains to day to day markets, and I don’t mean the Comex, we’re not talking about that, we’re talking about the physical market for silver, and we have data points that suggest that buying for silver by the public is almost on a ratio of dollars of silver being bought to dollars of gold being bought. We can see that the U.S. Mint’s data that comes out every month, and pretty much every day, so for example, the amount of silver coins being bought through the mint’s service – they sold 50 times the number of silver to gold coins. This month it’s actually running around 70 to one. This really means people are putting as many dollars into silver as they are into gold. But there is nowhere near the amount of silver to invest in as there is gold.

P: So do you attribute this correction we saw recently to the correction we saw in the beginning of April?

E: Sure, well, I think both corrections were orchestrated by people who are massively short silver. When the price went from 20 to 50 roughly, I mean, those shorts had lost about 20 billion dollars. If silver had broken through $50, things would have gone absolutely crazy. Like when gold went to 850, it doubled shortly thereafter, which would have created great stress on those people who were short. And unfortunately in the Comex market, which is mostly a paper market, those who have huge amounts of money can force the price down, and as you may have recalled Patrick, there was a Sunday night around 9:30 when the price went down $6.

P: And it’s usually over the weekend that this happens.

E: Exactly, when nobody was trading. And that particular day the Chinese market was closed and the UK market was going to be closed that day. And of course, everyone comes into work at the New York time and the price of silver is down $6, they already have the margin call. Then the CME raised margins 4 times in the next week which put the long holders of silver contracts under tremendous duress, so they had to sell them. So a lot of the short position has been covered here, I’m not saying there won’t be further raids. There was a raid recently where they recently knocked it down to $27, and that is what happens in the paper markets. Paper markets can trade up to a billion ounces a day, while we only produce 900 million ounces a year. And looking at the physical markets, which I spend most of my time looking at, I can identify something like a 380 million ounce change in supply and demand just in the past five years in a 900 million ounce market. I believe that sooner or later we are going to run into a shortage in physical silver and the physical silver price will then determine the Comex price.

P: I think a lot of people would like to know, potentially, how soon would you see this change taking place?

E: Well that is a very tough question to answer because there are forces at work every day, right, and you have to exhaust those forces or they have to have some reason to change their view on what’s their best interest in the paper markets. I’ve always imagined there, or hoped that some industrial user of silver will say “Oh, I can’t get the silver” and the word gets out that there is a physical shortage. Or the people just continue to buy at the rate they are buying, because you just can’t keep buying silver on a one to one ratio to gold and have the price be 50 to 1. That is mathematically impossible.

P: I know that you like silver very much, but let’s talk about gold for a minute and please tell me your opinion about Venezuela, Chavez repatriating the gold that they had on deposit with English banks. Is this possibly or potentially the beginning of a new trend of realizing the inventory of real gold by these countries or institutions.

E: Sure, well, I think it is one step in the process. One other thing that has happened is we’ve now seen that central banks are buying gold; while they used to be sellers of physical gold, now they are buyers of physical gold. The GFMS this year suggested that central banks may buy as many at 500 tons of gold, whereas they were sellers last year. And this is in a 4000 ton a year market. And I think Venezuela’s statement is “We want to have our physical gold in our physical possession.” Is it going to make a difference? I can’t tell you the answer yet because of course Venezuela doesn’t have their gold yet. And I’m surprised it’s taken, theoretically, until the middle of November for them to get their gold because it was on deposit you wouldn’t think the logistics of transferring that amount of gold, I think its 93 tons or 110 tons, that’s not a lot of gold is it in terms of physical size; because it is so dense.

P: You experienced the same kind of reaction I believe when you recently wanted to purchase some silver. Where it took a little longer than what one would think to be normal.

E: Well, when we started the Silver Chest, we had to go into the market and buy 15 million ounces. This was about exactly a year ago. And 15 million ounces at the time, [an ounce] was probably $20, was like 300 million worth of silver, which is not a lot of silver. And you would think people advertise it as a billion ounces of silver and you want to buy 15, you’d get pretty speedy delivery. It took us 3 months for us to get the silver and some of that silver that was delivered to us was manufactured after we had made the purchase agreement. Which really means, in my mind, there wasn’t a tremendous amount of silver lying around waiting to be delivered.

P: So there could be the possibility that we may have a lot less inventory than what appears to be told on these government reports.

E: Sure, nobody really knows how much inventory there is. We know how much is in Comex, we know how much the PSLV owns, but theoretically that shouldn’t be available, beyond that, I just don’t believe there’s huge amounts of silver and we are buyers of silver every day. We’re very often delayed on our shipments. You know we could go in and buy 2 or 300 thousand ounces and we sort of get the common “Well, you know that shipment is going to take 2 or 3 weeks”, which really means, I don’t think there is really any ready silver inventory that’s just waiting for someone to say “Ok fine, I’m going to buy” [then] “We’ll deliver it to you” because it’s not really that difficult to deliver silver.

P: Let’s talk a little bit about the European crisis, Eurozone crisis, the banking crisis. How do you see that effecting the silver price short term, intermediate, or even long term?

E: Well, I think, Patrick, it depends on how it gets resolved. I mean if it gets resolved simply by printing money, I would think it would be incredibly positive for gold and silver. Because people would realize that felt currencies are being debased through those actions. I think the fact that gold and silver are where they are is very much a result of people more and more realizing that the powers that be seem to care less about how much they print and therefore if that is the solution; that we just print I think it would be very optimistic. But there is one other choice. The choice is: they don’t solve the problem, which as you know has become a banking problem and if there was a banking problem that erupted, it could be even more positive to silver because people will realize “If I can’t have my money in a bank, what are my choices”, and as we all know, very limited. And most of us that are believers in silver and gold, believe we don’t want a counter party and we’d much rather own the physical, so we aren’t relying on someone else to fulfill the promise.

P: According to Arabian Money they commented that the Arabian banks have isolated themselves from what they believe to be an economic crash of the western world. How do they fit into this equation in terms of the demand for precious metals?

E: I don’t have a lot of data on Arabian banks. I truly don’t. I mean, we watch the gold sales in Dubai and places like that and we’re very aware that the Arabs, the whole Arabian community is a believer in gold and they like trading physical things for physical things, but I must confess, I am not enough of a student of what’s actually happening in that area to tell you one way or another what the flows are. We did see a data point about a years ago where Saudi Arabia said “Oh, our reserves were supposed to be this but they are really 60% higher” and it came out of nowhere. I mean, I would certainly imagine if I was there, and I were selling goods to the world I might very well want to have my cash invested in silver and/or gold.

P: I’m going to ask you to stick your neck out here and try to do some kind of a forecast for our audience. What do you see, I would say; let’s say within 2012, in terms of the mint picture, the crisis in Europe and essentially trying to resolve this issue and finding some kind of resolution? If these economic world leaders are able to come and put together an intelligent plan, what do you feel the price of silver could do?

E: Well, I have to beg to differ with the word ‘intelligent plan’, because I don’t think there is an intelligent plan. In fact I think we all now know that most plans have not worked and created a very difficult situation for the average person in the world and has exacerbated the problem in the banking world. So, they’re going to come up with a plan, it won’t be an intelligent plan. I don’t think solving a debt problem is solved by more debt and leveraging, which is what’s being discussed in Europe today. But either way, as I said before, I don’t think the impetus will be for precious metal prices to rise, if I had to predict, I certainly would believe that silver would be above $50 next year and that gold certainly would be above $2000 and it could be substantially higher than that. It’s a question of how irresponsible governments are and maybe we will find out there is a Eurpoean plan, and then 3 or 4 months later, there is an American plan where we get QE3. It’s hard to know where it’s going to go because we don’t know how irresponsible the governments are going to be, but they are tending to be irresponsible, therefore you would think there would be lots of impetus for higher prices.

P: Eric, I would like to thank you once again for taking this time to spend with us and answer some of these questions for our audience. Thank you so very much.

E: Patrick, My pleasure.

This post has been edited by property101: Nov 16 2011, 11:06 AM

Interesting question, let me give it a shot!

My opinion, during economy collapse, "3 cans of sardines and 5 loaf od bread for 1 oz of silver" will not happen. At that time, more likely people will be using barter system like, "hey, how about 3 cans of sardines for 5 loaf of bread". Right now, people are too comfortable with currency (dollar, ringgit, etc) and totally forgot about the value of real money (gold and silver). If you try to Youtube about how ignorant people are about the value of gold and silver, you might find some videos really amusing. The point is, although central banks have been buying gold for inventory, the amount of gold and silver flowing in the end user market is too little to be used as "money". Some people do keep a little precious metal but it won't last long, the fact is, most people don't. Right now, people are too comfortable with the idea of "currency", almost all of us grow up and live in the "currency" mentality. gold and silver being used as real money again (like 2000 years ago) is very unlikely to happen. So, Chef is right, during bad time, it will be very hard to sell off your silver or even find anything useful to do with it.

People might ask, so why are we still buying silver? Let's run a fact check list to ensure everyone really understand the potential of silver.
1. Amount of Silver on earth, in 1950, there were 10 billion oz; in 1980 there were 3.5 billion; in 2010 oz there were approximately 500 - 700 million oz
2. In 1980, Global Population was 2.5 Billion, Global GDP was USD10 Trillion. silver price peaked at ~USD50.
In 2010, Global Population was 7 Billion, Global GDP was USD60 trillion. you work out how much silver price should be.
3. Since 1980, Population has increased +176%, Global GDP has increased +500%, Above Ground Available Gold increased +600%, Above Ground Available Silver DECREASED -91%.
4. Silver price right now is still below 1980 peek.
5. In 1990 - 2000. 2 billion oz of silver is consumed. If you refer back to item no.1, for 2001 till 2010, it literary means there is no more silver! Of course, mining was and is still going on, but the production can never cope with the consumption.
6. Everything will revert back to the mean, the more something overshoot, the more it will bounce from the mean in the opposite direction. The mean ratio for gold : silver is 1 : 15. At the point of writing this, it is 1 : 52. Conservatively, people believe it will overshoot back to 1 : 12. Some extreme thinker believes, silver will be more rare (and more expensive) than gold.

First I say silver will be useless during bad time, second I say silver is such a potential metal. So what am I trying to say?
There will be 2 period of time silver will shine.

First is during the period of PRIOR to world economy collapse. Let's face it, historically every ~40 years there will be a new monetary system. The last monetary system changed was in 1971 (end of Bretton Woods system), and it came the new dollar system (that we have today). Let's add 40 years to 1971....oh! It's 2011! With the Eurozone crisis, US QE1, QE2, (who knows QE3.....QE999), China bubble, global inflation. Aren't they the hints of a new monetary system is about to arrive? The fact that a new monetary system is almost for sure. It's a matter of when.

How this new monetary system would affect the price of silver - is right before the new monetary system is introduced, where the current dollar system would have to go somehow out of control. During this period of time, (most likely is a global hyperinflation), where people have to buy a RM0.60 bread for RM6000 and a bottle of RM1.20 water for RM12000. At this point of time, your 1oz of silver will probably worth RM12,000,000. Don't think it is impossible, Zimbabwe dollar is a perfect example. Your silver still buy the same amount of goods even during hyperinflation. You ringgit literary means nothing. People might rather use barter than carrying a bag of cash. This is the first period you really sees your silver shine.

Currently, our current monetary system (dollar) is backed by nothing. That's why US can print as much as they want in QE1, QE2.... When the above out-of-control scenario happens, a new monetary system need to come into place to end all the misery. A new monetary will not be easy to adapt, for most people, it will be a very painful experience. Imagine a middle class worker who has worked hard all his life and saved RM1,500,000 and now he can only buy a bottle of water with it? The transition to a new monetary system will not be easy, everyone will have to go through certain amount of pain. However, the new monetary system would ideally backed by something. Throughout 5000 years of history, gold and silver have always been used to back a monetary system, it's very likely that gold and silver will be again be used as the back-bone of the new monetary system. When all the central banks adopt to this new currency (which is backed by gold and silver), and you take out your silver, your silver will be the most precious thing a banker will see. For discussion sake, if the new monetary system is known as "Goreso" (I'm just making this up), people with pre-crisis cash would bring RM10,000 to to central banks to exchange for 1 Goreso; while you might be bringing 1 oz of silver to exchange with 120 Goreso where 1 Goreso can buy 1 bottle of clean water.

To summarize this, silver will shine under 2 circumstances:
1. Prior to global economy collapse,
2. A new monetary system is introduced.

For most people, the above scenario is really hard to imagine. We have live all our life with something we are so comfortable with which is the paper note currency.

I hope this post will serve as a first sign of warning you to get prepared for global financial crisis with precious metal.

hi guys, updated the sell list in my website and forgot to inform you guys here. here is the sales list:
Sell List - Silver in Malaysia

In response to Chef post, I have also hosted my response in my website, feel free to check out and leave a comment:
Silver During Bad Time - Silver in Malaysia

nice explanation kakiayam.
the concept is very similar to a youtube video i watch earlier explaining the debt in US.
not long ago i've put up the video in my website. since this is a silver discussion thread, i will share my website video page which consists of the above mentioned country debt explanation video and another 2 precious metal video - rather than all those links individually. here is the page:
Videos - Silver in Malaysia

(the country debt video is the 3rd video)

This post has been edited by property101: Nov 18 2011, 02:21 PM

1. Yes. You have to buy physical. If you buy paper precious metal (like passbook / ETF / etc), you are missing out the whole point of buying precious metal. Unless you are looking for a quick trade within days - or maximum, weeks.

2. Not in Malaysia. The nearest bank that offers such investment is in Singapore. You need to be a residence there. And the annual fee they are charging you cost you a boom.

3. You got the current silver price for 1oz wrong. If you need more information determining the silver price, please check out this post:
Silver Price in Malaysia

Hope it helps

This post has been edited by property101: Nov 19 2011, 07:20 PM

Yes

1 oz PAMP SUISSE Lady Fortuna 999 can be considered one of the most expensive bar in the market.

for investment, there are 2 types of physical silver you can buy:
1. bar
2. coin
Both has it own set of pros and cons.

1. bar is more value-for-money. the price you pay is closest to the spot price. bar is best if u are preparing for the doom day to come. 1 oz of silver will still be 1 oz of silver. the people who are interested in ur silver will probably melt it and use it for something else, probably industry use. of course that was the worst case. under normal circumstances, ur physical silver bar will still be able to appreciate (depending on spot price though)

2. coin would be good if you value the numismatics value of the coin. for example recently dragon coin has been very popular. or you can consider buying limited mintage silver coins. you pay a relatively higher premium for 1 oz of silver coin, but *who knows* one day your coin will be in high demand.

i have another post on the different types of silver you can buy in my website, here is the page:
Type of Silver in Malaysia

as a investor / collector, you do not care. whether it is smuggled or not paid tax, it's not a concern. as long as u hold the silver in ur hand, thats the safest thing already.

thanks taurusbull for ironing the facts clearly.

btw guys, in the sell list there are 10 new listings in today alone. feel free to check them out to see if any silver catch your interest

hi taurusbull, this is a good method to determine whether silver is overpriced in a quick and simple manner. thanks for sharing!

just wondering whats your benchmark the determine whether the ratio is high or low at particular point of time?

working fine on me
how about u open facebook and look for "Lowyat Silver and Gold Group" on the search bar on top

regardless what we do, either a business decision, or an investment decision, there will be people who always tell us that we are wrong

like u said "Your future is in your hand", one should really take responsibility for his own life. people are going to say what they want to say anyway and we probably cant please everyone (and we dont have to).

whether a person want to invest in silver or in gold, it's your money, your choice

This post has been edited by property101: Nov 24 2011, 09:40 PM

personally i believe in the fundamental of PM very strongly. especially silver. these expert opinions are short term projection and i consider them as noise in the market.

This post has been edited by property101: Nov 25 2011, 09:53 AM

buy consistently every month. if i have extra cash, buy a little more.

the trick here is one must not buy silver with the cash that one might need in the next 3-6 months. it should be excessive cash. one must first build up a sum of reserved cash before considering any form of investment. the point is the get to a destination steadily rather than fast but unstable.

once a person has build up a sufficient sum of reserved cash, during the drop, he can buy with every single extra cent.

This post has been edited by property101: Nov 25 2011, 07:08 PM

robert kiyosaki describe this as "savers are losers" and "cash is trash".

didnt every investment guru was talking about "the greatest wealth transfer"? the greatest wealth transfer is referring to transferring wealth from those who keep their asset in paper money to the people who keep their asset in hard asset (PM / property / etc).

This post has been edited by property101: Nov 25 2011, 07:12 PM