Took me 1 hour to read only 20 pages.

so I might choose PBank to start my very first inversement because I able to buy and sell online.

Im not hoping to earn big, but enough as pocket money instead getting from parent every month.
Is that ok theat gold as short-term investment ?

Let say I buy 100 gram at rm170 today, then after few days, price increase at rm171 and I sell it. so my profit is rm100 right?  Next I wait the price to drop again to buy and sell when price increase again.  Keep repeating....
iz that ok? please do correct me if im wrong. I have no buddy to ask. All of my friend lucky to have a rich dad, so nothing to worry about money issues.

Seem like everywhere is collecting Gold back from the public. saw Gold booth in hypermarket inspecting for free service.

Took me 3 years to learn about gold from 1999 to 2001........ 

Before my first purchase

USD just removed gold backed policy during 70's.
It has nothing to do with fiat.
And none of other currency being gold backed before, only USD did.
Gold backed just means, people can exchange the USD to equivalent of gold amount.
Which indirectly means, you limit the currency that can be printed only by the amount of gold you have. Nothing to do with fiat system, it is more like self control mechanism and instill confidence on your money.

Fiat system already exist before the gold backed removing.

Money has no intrinsic value, so does properties, and gold.
Any value we given, like
RM 1 is RM1,
1 gram of gold is Rm175,
1 house worth RM500k

is given and perception by human kind in the fiat system.

Rm1 is just a paper printed RM1 that we have confidence people willing to exchange goods with us.
Gold is value, because people perceive it has a value by human kind due to scarcity of the metal. If not, it is an AU yellow metal and good conductor metal.
Properties, is cement, rock, sand that make a space for human to live in.

Whatever value a gold, a property, a paper money, is given by us. Itself has no value, until everyone agree so.

Just like 2000, people agreed gold not worth much, only USD300, so gold value at USD 300 and can exchange goods equivalent to USD300.

Until one day, gold is constantly value like 1kg will forever let one to exchange a property or 100 tons of rice, or something like that, then may be it has some intrinsic value. But we know, it never happened before.

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Added on February 28, 2012, 9:38 pmYou may not old enough to know gold lose its value in the loss decades of gold from 1980 to 2002.
So there is no such thing of intrinsic value, the value changed due to people perception all the time.

Yes, one may not lose entirely like fiat money (if defaulted or devalue) with gold. But gold can lose its value as well. Last time you can buy a bowl of mee with 0.01 g, but now you cannot buy the same bowl of mee with 0.01g now. So gold lose the value until now, (at least until now, after 25 years or so). In the future, it may gain you, I don't know, but this is a reality and facts, that whatever value is constant changing due to people perception.

USD just removed gold backed policy during 70's.
It has nothing to do with fiat.
And none of other currency being gold backed before, only USD did.
Gold backed just means, people can exchange the USD to equivalent of gold amount.
Which indirectly means, you limit the currency that can be printed only by the amount of gold you have. Nothing to do with fiat system, it is more like self control mechanism and instill confidence on your money.


Yes, one may not lose entirely like fiat money (if defaulted or devalue) with gold. But gold can lose its value as well. Last time you can buy a bowl of mee with 0.01 g, but now you cannot buy the same bowl of mee with 0.01g now. So gold lose the value until now, (at least until now, after 25 years or so). In the future, it may gain you, I don't know, but this is a reality and facts, that whatever value is constant changing due to people perception.

Even FD gave at least 5~7% interest. Expect zero increase in fiat money? 

I don't want profit, I just demanded the same equivalent a bowl of mee, as many claim gold remain the same value, hedge you inflation one, aka hedge me the bowl of mee.

I can buy a bowl of mee with RM0.20~Rm0.50 back then, ok give the upper price to you, Rm0.50 which was equivalent to 0.01g of gold value  (as posted USD20/gm so roughly Rm50/g) can buy you a bowl of mee.

Now is Rm5.00, with the same 0.01 g gold I had, you need to pay me RM500/g.

Ok deal, sold to you at Rm500/g. 

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Added on March 9, 2012, 4:02 pm

Even bought earlier at USD250, still return is far from promising and far from inflation hedge.

Maybank do not require the original receipts as i understand it...........

if the bank dat issues the paper gold go busted, d paper is nothing more than toilet paper. n its not insured by pidm... but  then again.. sg bank looks safe to me.. not sure about others