Which bank has the lowest spread?

Got lower 1% of the price?

what do you guys think about tomorrow..will get lower?

The main advantage that I see PB over UOB is that PB has online transaction. This saves you the hassle of going to the bank and getting parking...
Another is that UOB has min transaction, etc. Go check out UOB's website to understand better

I notice the Public Bank Online Gold Savings Accounts have discount on both ends

Bank
------
Buying = RM 167.5100
Selling = RM 160.9300

Online
-------
Buying = RM 167.1039 (small discount for customer)
Selling = RM 160.8524 (small discount for bank!!!!)

Been to 1stopgold at Ampang before, they are only offering PAMP Suisse gold and silver bars (~5% spread). Do take note that they don't accept walk-ins when purchasing / selling merchandise, need to set appointment.

Also for new customers, you need to register with them first.

anyone planning to buy gold recently? 

As I know, PBB allow the withdrawal of physical god. But only from the selected branch only. Please refer to below

Gold Collecting Branches 50g 100g
Jalan Sultan Sulaiman RM220 RM240
Pulau Pinang/ Bagan Ajam


ps: I view gold price from the below web and it closed at 1587.3 as of 27dec11
http://www.kitco.com/charts/livegold.html

No Ideal what kind of gold PBB offer. hav to check with them.
Other than the PBB, UOB and Maybank listed below.. any other good places that is recommend for gold investment?

paper gold is better than physical. You think keeping alot of liquidity at home is good?

Physical where got you determine your price? If you insist, most sellers out there buy back at at least 10% lower from their selling price! Their spread is anytime larger than bank.
Gold very hard to get damaged. It's very inactive in nature.

What's the price per gram now? Is it worth the investment now?

So let's say I buy at RM180. And it rise to RM200. Everyone can sell at RM200? Or we must wait for buyer to buy our paper gold? Or it's just me and bank?

Is it 100gm ? how much you bought it ? interest/hibab?

yup, RM 6200 incl labour.

market price RM 198 per gram x 31.1gram + labour RM 50, round adj -RM 7.80

it has terms and regulations..

if buy from Tomei when sell back anytime, Tomei  offer -8% exchange with gold product and -13% for cash.
if buy from Tomei and want to sell to others gold shop like Habib/ Poh Kong ,they eat back @ -18 to -25% for cash.

why PAMP... international regonize gold. say one day Malaysia in war, I take this and migrate to others country and this piece of gold is much much much worth than Malaysia gold (Msia made 999.9 gold)

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Added on January 20, 2012, 10:05 amphysical gold bar is consider medium term for investment, I remember 6 years ago, my first work after I graduated from secondary school , I went to make survey in Complex & Malls, I did enter gold shop, the price shown RM 87 ONLY for 999.9 gold per gram..

Dear sir,

The indicative price for 1 oz pamp gold bar is RM 5,414.10


Thank you & best regards.


1Stop Gold Sdn Bhd
B6-8, Megan Avenue 1
189 Jalan Tun Razak
50400 Kuala Lumpur
Tel : 03-2172 8680
Fax : 03-2172 8690

Can we safely state that the 1-year returns from Paper Gold Investment Account more than Fixed Deposit ?

95% of people money is in the bank... 
be it FD, saving, gold investment account, even UT as nominee. 
Almost all shit inside?... 

Can I say, don't be con by buying price as well? 

Buying 1kg of gold from a single entity of gold jewellery shop at RM200, which the only sole single entity offer buying back at RM180 (hypothesis case, not mean to say which or who), while outside only accept at Rm150~160, aka the real actual worth of gold or market price of gold,
is not considered invest all shit in single entity or single asset (gold) that can be stolen overnight all together?  
Just joking. 
I don't know how the offer will change or not, if price really plunge to Rm100. Black and white obligation for sure and forever Rm180?

The real worth of gold at today is USD 1720/ounce or near around RM170/g in the real market, end of story. This is the ultimate basic, don't need to say con by selling price or buying selling either.

My personal view, the risk taker is the one invest in gold actually, 
especially physical bar at home.   

US insurance issue?
AIG did not go under, what insurance issue? 
Hong Kong investment bank? Which one?
Never mind also which one, we are talking on retail commercial bank, not investment bank.

Yes, gold can be a good investment class in current financial market environment, but I always view that you don't need sending fear this bankrupt, that bankrupt to promote or advise people to invest in gold.
Ya, those risk does exist, but at minimal and wherever you put your money, your gold risk is everywhere and can be as same as bank go under risk.
Personally, I don't like using fear to promote, instead should create awareness about the pro and con, what to expect, is enough to educate people and whether others like or not like to invest is another issue altogether.

Are you working for Tomei or Poh Kong?

To buy gold bars such as Pamp bars from them jewellers is to be SUCKered...paying excessive premiums for the bar at jewellery rates.

A few pages back someone bought at Rm6200 for a Pamp bar which he could have got below Rm5800 else where

LMAO, I recommend PAMP swiss and PK gold bar instead of pamp dragon. When did I recommend Pamp dragon which have 25 deduction for trade in? If you want to compare selling price then please do compare buying back price for PK gold bar and Pamp swiss. Else don't show your stupidity here. Try to learn how to use dispersion percentage. Try how to include the cost of risk for every industry. Which industry will turn worse (higher risk) when economic facing recession issue.
I just asking everyone to diversify their investment instead of pooling all money to a single entity. This is to minimise their risk. I not the owner of bank nor jewellery shop but telling you the additional options for investment. If you do not know the picture of finance please just skip this and go do whatever you like.

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Added on January 30, 2012, 3:09 pm

you can try ebay. Just to let you know bank will not accept trade in for gold or cash.
If you want to get lowest deduction for the coin, you can trade the coin for PK gold bar which will go through 25% deduction (might be near to the rate given by the bank) then only trade it for cash with approximately 12% deduction. If you direct trade in at private gold smith shop, you will lose 40-50% of the gold smith shop price or 30% of the bank rate. No company will accept the coin without profits or FOC.

EDIT: If you do keep the receipt, you can sell it back the to the company where you bought from for lowest deduction.

Is it true that you could buy the physical gold from the bank, say UOB, PB, etc and
later sell them outside at higher price than bank's price? 

Outside buy based on market price one.

For eg. now market price of gold is Rm170/g for today, nobody will sell you below RM170 today. Banks can sell you at Rm175, jewellery shop can sell at retails jewellery price at RM199.
Impossible to make instant abitrage the to make a profit.

But next day price go up Rm180 that lead one make profit, is another story already.

Selling is always market price + spread charging
Buying price is always market price - charging.

Those so called "scheme" that posted before, by shops offer sell high and buy higher than market price won't get away the basic pricing.

Sell at you at Rm199, but offer to buy back from you at Rm180 only applied if you bought from them at RM199.
If market price out there is RM170, outside only accept buy back no more than Rm170.

Can you buy from outside at Rm175 to sell to them at Rm180? Certainly no.