Not safe. If a gun is pointed at you, you have to open the safe.

This will never ends. Both physical and paper has it's pros and cons. Buy at your own preference.

Did you get this from Wah Chan. FYI, not all goldsmith shops do join http://www.fgjam.org.my/ . Those goldsmith shops that did not join FGJAM could set lower gold price but mark up their workmanship to earn profits. The cons is they have no rules to follow so they could resell those trade in jewellery instead of melt it and remake a new 1. Sometimes you won't feel safe because 916 can be not 916 gold. That's why always buy jewellery with FGJAM members for your own good.
Here is the knowledge:
916 is not for investment. 916 Gold (22K) appear because the government created a rule that our jewellery should be made in 916 (previous time is 750 Gold (18K). 916 Gold does not apply on jewellery with gem stones as the material is too soft to hold the gem stones like diamond.
China only use 999 pure gold (24K) for their jewellery. Western countries use 18k or 9k. Few countries use 916. So if you bring 916 golds to Australia or western countries for trade in, value will be same like 18K instead of 22K because they do not have 22K.



WRONG info dude.
Deduction percentage for gold bar is different with gold jewellery. If you want to go for Physical golds, here is the things you need to think about:

Goldsmith shops:
-Higher dispersion in terms of percentage. Normally 11% to 18%. Gold bar produced by own company have the lowest dispersion (normally 11%-13%). International type like Suisse gold bar have higher dispersion because more parties share profits (example: Suisse company and Tomei company). The 11%-18% deduction does not apply if the hard plastic cover has been open because they have to melt and remake to a new one. Normally deduction 25% for that.
-A lot local company do sell Suisse bar because of the well known brand which is acceptable in most of the countries. This will only happen when the gold price is stable or increase. If gold price drop, they will only take back Suisse gold bar provided with their receipt. Example, You buy Suisse from company A, so only company A will buy back provided with receipt issued by company A. If you buy the Suisse bar from company B, they have rights not to buy it because they don't want to lose money by keeping it when gold price expected to fall. I believe bank did not buy back from other companies too.
-Selling price and buy back price is higher than bank.
-Normally there is a hard plastic cover to protect the bar and avoid customers open and changing it with the fake one since technology is getting good nowdays. Gold testing can be check from the external part but not the internal. So try to avoid those with open cover or 1 KG gold bar. Unless it is a fresh produced.

Banks
- Diff bank diff dispersion like goldsmith shops. Paper gold better if you believe the bank have no cash flow issue in the recent future time. UOB have the lowest dispersion I believe.
- Higher deduction if the bank reject to buy back due to the scar. Higher deduction if sell back to goldsmith shop.

This post has been edited by doraemonkiller: Apr 18 2012, 01:04 AM

U can opt for Safe Deposit Box services. There are few companies providing this.
Or buy 1 safe box and just keep it in the comfort of your own home.


1)resell value less than 20% or more?
I'm sorry, could you enlighten me more on this? If I'm not mistaken, this only applies for gold jeweleries which you bought from jewelery shops.
If you buy a gold coin or a gold bar, for example from UOB or Maybank's Kijang Emas, the spread is around 4%.
You can see a detailed explanation about physical gold spread here

2)resell value will be a lot lower if you lose the cert?
My experience is with Kijang Emas. When you buy it, they will give you a receipt, a coin holder and an envelope to keep the coin safe.
Even if you lose the holder and the envelope, the bank will still buy back your coin according to the published price in their website.
They also buy back dented or scratched Kijang Emas.
After all, 1oz of gold is still 1oz of gold.


As for UOB bank, they will issue a receipt upon buying a gold coin. That receipt is important for the buy back. If you don't have the receipt, the bank would not buy it back from you.
But still, there is a Gold Lot Shop for you to sell your coins and bars to a private buyer, at market price.

3)plastic protective cover.
If the coins/bars come in a SEALED packaging and you decided to open it and 'play' with your gold, then it is most likely that it will not be accepted for buy back.
But if it comes in an airtite capsule (hard plastic capsule) you can always open it and touch the coins.


SEALED packaging


Airtite capsule


UOB Gold Kangaroo


UOB Coins in Sealed Plastic (Above) and in a square airtite (Below)


P/S: The pictures are not mine. Found them by googling.

This post has been edited by Nidz: Apr 18 2012, 04:41 PM

hi sifu sifu sekalians,

I wish to learn more about gold and would like to know if anyone could recommend me a website about gold investment like fundamental and technical knowledge or any other site which is relevant. Thank you

This post has been edited by melthq: Apr 18 2012, 09:53 PM

Gold Heading to $700: Author Sees “Impending Collapse”

http://finance.yahoo.com/blogs/daily-ticke...-124847501.html

For the past decade, gold has been an incredible investment, rising from under $300 per ounce to as high as $1,900 per ounce before retreating to around $1,650 in recent trading.

For the bulls, gold's recent drop is nothing more than a temporary setback on its inexorable march toward $2,000 and beyond. The case for gold rests primarily on factors familiar to anyone who's even remotely familiar with the metal: easy money from central banks around the world and rising demand from emerging economies, notably China and India. (See: Easy Money + Low Rates = Gold at $2000 by Year End)

But all good things must come to an end and Yoni Jacobs, chief investment strategist at Chart Prophet, believes gold's best days are behind it. In fact, Yoni believes there's a bubble in precious metals that's about to collapse as detailed in his book, Gold Bubble: Profiting from Gold's Impending Collapse.

While tipping his hat to the bullish arguments and sympathetic to reasons why people own gold, Jacobs says the metal's inability to rally despite Europe's ongoing crisis and renewed tensions in the Middle East are negative signs. "The froth is coming off," he says.

Technically, the strategist cites heavy volume during gold's sell-off last September and the negative divergence between gold and gold miners as warning signs. In the past six months, the Market Vectors Gold Miners ETF (GDX) is down 20% while the Gold ETF (GLD) is essentially flat.

Furthermore, gold is vulnerable to the global economic slowdown, he says, noting China just reported its slowest quarter in three years.

"If we have a recession or slowing global growth then all assets fall -- it's a deflationary period," Jacobs says. "Even though a lot of people are expecting inflation, if we enter recession that means the price of assets falls. Gold will fall together with the rest of commodities."

Finally, Jacobs cites "over-speculation" in gold, its "parabolic increase" in recent years, the "mass publicity" the metal has received, and the extreme emotions of its advocates as signs of it being in bubble territory.

Based on historical trends and technical patterns, Jacobs predicts gold will fall below the key $1,000 per ounce level on its way to the $700 area. He recommends shorting the GLD or GDX or buying out-of-the-money puts on gold as a way to profit from gold's demise.

Jacobs is clearly out on a limb on this prediction and there's a good chance he'll be proven wrong.

But hedging your positions and managing downside risks is always a good idea, especially with an investment that's appreciated as much as gold.

http://www.kitco.com/charts/livegold.html

uh oh... got to be more cautious nowadays with the current market condition.

so many speculation on gold lately, some says will go up and some down,well it'll either go up or down or just remain steady.
so just wait and see then

Learn from website, book n experience. Try to get e-book also. it can help a lot....

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Added on April 19, 2012, 10:12 amnot agree with that going down speculation..
it is call sleep time for the investor to see the gold trend and once the time come it will show the real value of gold..

This post has been edited by bravork: Apr 19 2012, 10:12 AM

Gold Heading to $700 in the future is like saying Lionel Messi can become the President of Argentina

It won't happen in the due course due to the gargantual debt from the developed countries and the scarcity resources to produce the precious metal, mate.

Whoever produce this article surely didn't invest their saving portion into the hard asset portfolio. So they justify their decision by denying the only asset investment that beats all other investment for the past 10 years. Pure Wall Street gangster



This post has been edited by izzudrecoba: Apr 19 2012, 12:44 PM

Gold is between RM 161 to 162 per gram .

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Added on April 19, 2012, 2:15 pmDo not see much improvement for the past week but saw some short time profit taking by some investor .


This post has been edited by thunderaj: Apr 19 2012, 02:15 PM

Nice info. But just wonder if we sale these so called Bullion(Just know this word) in the gold smith, does that means we surely loose the money since the actual gold price is lower than this Bullion?

Am I correct??

If Jacobs refers to himself as Chart Prophet, I wonder which charts he's looking at?

Eric Sprott would be backing up the truck when it hits $700, and so would I.

$700 gold may happen, and that's where it tests the investors stomach for volatility. See Rick Rule's article - Why I'm Excited About This Market, particularly his first paragraph.

If Jacob's is just waiting for that to happen and then to profit from it (like he's timing the market) - happy waiting...

Incidentally, is he a billionaire since he's a Chart Prophet?

i agrees with this. even for kijang gold coin the buy sell spread is low. but if you think from the perspective of actual gold value in the coin, the spread between real time gold and kijang gold coin is over 10%.

beside after the fall of banking system, people will value kijang gold coin based on actual gold coin rather than the pretty workmanship .

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Added on April 19, 2012, 8:31 pmeven if this Chart Prophet is right, we just average down when gold is at 1000 and 700. imagine the profit when the gold bounces back from 700 to 1600



This post has been edited by john123x: Apr 19 2012, 08:31 PM

spread for gold bar and gold bullion differ? how much would they differ?

previous post state that bullion spreadis is bout 4%

how bout bar then?

Hes a great prophet......

He also fumbles when the interviewer asked him when gold is going to $700 - he mumbles something about 19 years.

Ho Ho Ho! Good one Prophetjul!

Wonder if LYN can have a "like" button. Haha.

That's what by doubt these bulion are more expensive than actual gold price because of it's creative beautiful workmanship.

no 1 can enlighten me on this?

lets say if i buy a gold bar from company A and sell it for company B with all the paperwork and such.

what the spread from the actual price?