hehe...openning ceremony of v4



If wanna check latest gold price click here.


1)daily gold price RM/gram

2)live gold price usd/oz

Gold price offered by Banks
1) Public bank
2) UOB bank
3)Maybank
4)CIMB bank
5)Kuwait financial house (offered physical gold, not paper gold)

** please note some gold price uploaded in the banks webpage are not updated often. Please contact the banks for latest price. Above information is for reference purpose.

pls feel free to comment n discuss

This post has been edited by mingophoria: Nov 14 2011, 08:30 AM

i have been active in silver thread. when i tell people i invest in silver, people ask me why not gold instead?

i dont know much about gold, joining this hopefully can learn from fellow fellow sifu



and to answer the question of the thread, a big YES from me!

This post has been edited by property101: Nov 12 2011, 09:39 PM

How to choose the best gold investment account that suits you the most? Let’s do some comparison:

* CIMB Bank Gold Deposit Account (GDA)
* Kuwait Finance House KFH Gold Account – i (GAI)
* Maybank Gold Savings Passbook Account (GSPA)
* Public Bank Gold Investment Account (GIA)
* United Overseas Bank Gold Savings Account (GSA)

CIMB Bank vs. Kuwait Finance House vs. Maybank vs. Public Bank vs. United Overseas Bank



Note: Information is obtained from the respective banks’ websites and customer service call centers.

Here are factors to consider when picking a gold account:
Affordability

Most banks do not charge a fee for the opening of a gold account. However, whenever you sign up for an account, a minimum initial deposit is required ranging from 5 grams to 20 grams.

Other than that, minimum subsequent purchase/sale shall be taken into consideration too. Especially, for those who plan to buy gold on a regular basic.
Fineness of Gold

According to Wikipedia, here is the most common millesimal fineness used for gold:

* 999.99 (The purest type of gold in the market)
* 999.9
* 999 (Fineness equivalent to 24 carat, also known as three nines fine)
* 995 (The minimum allowed in Good Delivery gold bars)
* 990 (also know as two nines fine)
* 958.3 (equivalent to 23 carat)
* 916 (equivalent to 22 carat)

Physical Gold Withdrawal

Please be noted, the minimum quantity for physical gold withdrawal required by some of the banks is 100 grams. In another words, you are not allowed to withdraw in physical gold if your invested amount is less than 100 grams.

Bare in mind, the physical gold withdrawal charges imposed is not really mentioned in most of the banks’ websites, except for CIMB Bank. It’s important to check with the respective bank first before any decision is made to sell your paper gold.
Withdrawal Options

Basically, the option to withdraw in cash or crediting into savings or current account is making no difference for me, because I will still get the cash eventually.

But, for physical gold withdrawal, are the clauses like “you can withdraw in physical gold but it’s subject to our stock availability” and “physical gold withdrawal is subject to bank’s approval” is meaning the same for you?
Convenience

Everything goes online now. We want a hassle-free investment. The idea of online gold trading via PbeBank.com to purchase and sell gold is a good practice and service, which shall be followed by others bank too, perhaps.
Cost

The only major cost to be considered is the difference between selling and buying prices. Low fees translate into cost savings. And this can lead to higher profits. Therefore, compare the price differences between all the 5 accounts and identify the cheapest gold price.

Don’t miss out on all these golden investments! Compare and choose the best gold account for yourself! Terms and conditions apply.

Source > >www.horlic.com



This post has been edited by mingophoria: Nov 12 2011, 10:27 PM

reserving for future need

reserving for future need

For the public bank, minimum opening is 10g.

Do we need to hv saving/current account in order to open gold account in public bank?

yes you do need to open either savings/ curent acc in public bank...got stated there in the attachment... please feel free to read that for better understanding

Wow v4 already.....up up up!

Sorry la boss..reading thru phone at the moment.cant see clearly the attachment.

wow..v4..intresting

hi all gold gurus..

i interested with this gold investment stuff but..... im not understand the concept of it

how do we get the money? is there a dividend paid evry year like asb?

diff between physical gold and paper gold?
my fren said physical gold is better, but she didnt said y...

pls help me to understand it..

damn..feel so sad did not buy around 160....my friend tell will drop until 150...any chances gold to drop again?..haiz

the trick to gold investment is 3 words : Buy in Dips

when it reaches USD2500 & later touch USD3400 as analyst expected, you will then again cry "will gold drop back to $1800??" Now, isnt that ironic?

Therefore, wouldnt it be nice to leverage this investment game with USD40 to buy 10oz of this precious metal? Well, for me, I am holding a few times of that load ..

race to 2500 !!

One thing for sure gold price is volatile between this few months, so those who cant accept the roller coaster ride should stay away as far as possible. Like shares. Nothing in the world will always rise non stop, there will be a fall somewhere around the road. However, if u tend to keep it in the long term, then just enter in any price. Gold will always appreciate over the months.

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Added on November 14, 2011, 9:09 amGold is kept for capital appreciation. It doen's give dividend / interest like the ASB. If gold rise u earn the profit, if gold drops, u rugi lah. Same like shares. However,Gold is a tool for hedging inflation. Money value will depreciate over time. example, 10 years ago ur nasi lemak will cost u around Rm1.00. Now price is almost reaching RM3~5. This is call inflation.



Here are some of the points of having paper/physical gold


Paper gold
1) easier to manage
2) no need crack head where to ''bury'' the gold
3) save cost in terms of spread between buying and selling
4) easier to deal. Bank will buy back in any price at their spot rate. physical Gold need find willing parties to buy and depending on your negotiation skills.


Physical
1) get to admire gold everyday
2) no need waste petrol and time go bank to keep on top up or sell gold.
3) Rumors rumors say bank will go bankrupt. Then they got no money to pay u back your money that u have invested.
example Lehman brothers and the recent MF global.



This post has been edited by mingophoria: Nov 14 2011, 09:09 AM

Thanks. Where would be the best place to sell some gold (not all with certificates) jewellery?

thx for the reply... so actually physical gold is like u purchase a gold ring for ur gf and gadai it when u dont have money la??

ok from the pic attached above, it seems maybank is the only choice that i can afford

but when i open the maybank website, it stated kijang emas and maybank gold investment..
whats the different? which one is better.. one is in oz, another in grams??

Dear gold taikorsssss,

Currently have 10k in hand to spent for gold investment. Should i buy at this time or wait after Christmas eve ? (read thru some opinio, the price shall be lower after Christmas)

Thanx.

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Added on November 14, 2011, 11:57 amDont get confused easily.Its clearly stated there, there are 2 types of gold by Maybank :

1. Maybank Gold Investment account - paper gold.go and bring money to open an account.then u just hold passbook to buy and sell in grams.
2. Kijang emas bullion coins - physical gold.Issued by BNM and comes in 3 size (1oz, 1/2 oz and 1/4 oz). 1oz = 31.1 grams...it is international standard.


This post has been edited by potenza10: Nov 14 2011, 11:57 AM

paper gold means we can only do transaction with the bank only kn? and kijang emas we can go and sell it to any gold shop (kedai pajak or whatever; since u said it is international standard)?