actually thats what i been wondering as well...i do google and found out that there is a company by the name of Genneva which offer similiar plan....FYI this company is :

CSG Fine Metal (http://www.csgfm.com.my/home.asp )
So-called sub-company of Caesar Gold (http://caesargold.com.my/)

i m thinking if the physical gold given to me is genuine, i still can keep it for future trade if the market grows (if the company run-away)...at the end of the day, is still risk....

Do you know how to verify it is the genuinelity?
So are they selling genuine 999 gold to you at Rm17x/g?

they r selling at RCP RM208/g...i just finished reading another topic of discussion about Genneva which offer the similiar scheme....too much doubts and risks...hence i decided to pull off and start doing my survey to buying gold from banks, even maybe with lower return but with lower risks as well...better safe than sorry

thx guys for all the useful reply

Rm208 - 7% still Rm19x.
Still higher than RM17x.

Lower return with bank?
If gold price surge Rm10, both paper, or physical gold sold by bank also up Rm10.
What is the different? No
How come you said it is lower return?

You get higher return because of lower spread in the first place.

spot buying price + 7%?

stock people will alway buy paper. They will treat paper as good as gold. at the end of the day they will cash out.
no point talking them out for physical.

Then you need to see why want to buy gold in the first place.
Majority people want to buy gold so that they can gain money, want to have some inflation hedge etc.

All are about to gain money, so to gain money, the one has lower spread, lower risk is the one preferred.

Unless one really like the gold, want to see the yellow shining metal, want to own and hold the yellow metal, then yes, go for physical.

So you want to buy at Rm208 which the real value is RM17x (buyback), in the process to gain money?

Physical price is based on paper price, this is a fact.

if there is a choice, for sure i dont want the gold physically...a paper will do as long as it apply to the same value

Take an example of double storey house in PJ.

In 2003, the house price is around 300k and in 2010 the price is around 450k. The appreciation is around 150k in 7 years.

If we compare with price gold in 2003, the same price for the house can get about 230 troy ounce and in 2010, the double storey house in PJ would cost us 100 troy ounce.That is equivalent to a depreciation of more than 50% in 7 years.

And if u compare with silver price, most likely about 70% depreciation...

This means while properties hv appreciated in RM, the values of properties is depreciate if we measure against precious metal i.e gold and silver.

A lot of lowyat-ers does not know that there is 0% interest 12 mths instalment for physical golds at Poh Kong. If you expect the gold price increase 20% per year, then the real value of the gold bar should add another 10% (month 6-7) only if you use instalment method. You are paying old price when the value is increasing. So the dispersion is actually around 1.5%.
If you want to pay lump sum then go for bank. Just to let you know when the government end up like Iceland, don't expect the bank have the cash flow to pay you money.

---

Added on November 23, 2011, 11:32 pmGenneva offer RM220 when Poh Kong and Tomei offer RM200. Don't compare the Genneva with other gold shops. Genneva will have cash flow problem when economic situation turn better since they are paying interest rate. No one will invest their golds one day.

This post has been edited by doraemonkiller: Nov 23 2011, 11:32 PM

Where is the active forumer, buysell ?

Quinn, so long no come ?

Anyone with Public Bank Gold Investment online, i do not see the gold price there. Can I check the gold sell/buy price once login or only here http://www.pbebank.com/en/en_content/perso...goldinvest.html ?

inside gold trading> click buy or sell> then you see the actual price they quote you... spread lower abit and posted rates

Mine is missing

http://imageshack.us/photo/my-images/560/pbgoldpurchase.gif/

http://imageshack.us/photo/my-images/38/pbgoldsale.gif/

Put in a BUY, click on OK
Next screen shows the cost now and ask U to CONFIRM
Dont confirm if U are just price checking

Anyhow, aiya - the difference in % is minimal from the cost shown at the PM's website lar, not a game changer unless U happen to be moving hundreds or millions of ringgit .

everything you said is true
until
1. COMEX default.
2. Paper gold fraud.
3. Hyper inflation comes to picture like prior to WW2 in Germany.

If these 3 item did not come true or one cash out b4 it come true then paper gold is save lah.

Those who invest in physical gold they treat it as insurance as they believe that one of these will come true and they don;t want to get
stuck with paper gold which not convertable to physical. by the time they cash up, price of physical will bom bom up like no body business.

Ya, got it.

Thanks guys!

Yes, I fully aware the difference between physical and paper.

Because my personal view, if that does happen, small fry like me, will be worry about my life, and whether there is foods around for me to eat, and even I have physical in my hand, I fear, may be robbed, gold being stolen, society is chaotic situation already.
Whether gold bom bom up, doesn't matter for me already, because financial system shut down, bank shut down, society is chaotic, business shut down, life and security already in doubt, small fry like me still care about money?

I am an just a small fry, I cannot like others can escape and bring KGs of gold to run away.

---

Added on November 25, 2011, 11:35 am1. Unlikely, but if Comex default, it doesn't mean paper gold default, as paper gold is you with the bank.
2. Yes, it can happen if bank goes under, but chance is slim, most gov more willing to print money to bail out the bank, instead let it fails.
As the consequence of letting bank fail is too big to handle for gov.
3. Hyperinflation, if paper gold is not being defaulted, you still earn from paper gold.

Paper gold is with bank.
If one doesn't trust paper gold, one shouldn't trust the bank, so it is same with FD, saving put in the bank. Although FD/saving is guaranteed under PIDM while paper gold doesn't, bank run based on trust, so bank will not try to default the paper gold as same as FD/saving.

This post has been edited by cherroy: Nov 25 2011, 11:36 AM

uSD now 3.19?

Which fb group i can join in for gold buy and sell?