I'm still waiting for gold price per/oz to drop all the way down to USD14XX before making some heavy accummulation of the physical kind. Currently in the meantime, I've invested a hefty pile of my money in MAXIS shares to reap its dividends paidout of 8¢ every quarter.

This post has been edited by MOBAJOBG: Dec 14 2011, 09:49 AM

1400? Hmm I doubt it possible

1635
what had happened??

It's 14XX something like in the range of 1488 and above or thereabouts.

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Added on December 14, 2011, 10:17 amWe're in a free-for-all global financial crisis now.

This post has been edited by MOBAJOBG: Dec 14 2011, 10:17 AM

i sold my position at 176, now buying 171.... might will restock today or see how..

Engaging in cost averaging purchase scheme is being prudent and I find nothing unwise about it.

This post has been edited by MOBAJOBG: Dec 14 2011, 10:49 AM

no reply to this?

1. When default, it is not about reputation anymore. It about legal issue and court order.
Bank are earning few % interest from depositor, thus every single cents count.
I don;t think they will just suck up the losses, they will let the court to decide.
Do U think the press will be on your side?

I seen some many court cases between banks in financial dispute. recently today 14 Dec 2011 the star, bank auction off a house w/o telling the owner.
In property auction, bank r the 1st to wash their hand. So unfair to the buyer.
So, U think bank will keep the reputation or it will end up in court to decide.

I.e. Highland tower tragedy, how long does it takes the bank to waive the payment for the victim in the highland tower.
Does all the bank did the same thing?

can you name me us some cases where the court case is in favours of consumer? Then how much legal $$ is spent to get those verdict.

Get physical then U don;t have to worry about this.

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Added on December 14, 2011, 11:04 amas long as it's fiat, it 's still in the banker or Central bank control. You still play by their rules. They can impose lot of things and rules
a) Increase spread.
b) Impose tax on earning.
in the end U get less gold then you started with.

remember 1 oz of gold in 1913 is USD20. It has lost over 95% of its value today due to fiat.
paper Gold is traded 10 - 50x more than physical. All these are known numbers,
yet if someone still 1 2 get into fiat in form or paper gold, be my guest, for me it has been long physical.

This post has been edited by GoldChan: Dec 14 2011, 11:04 AM

Basically, for those gold investors who can hoard this metal in their possession or arrange for its safe-keeping without any hassles for at least 8 years or more, please insist on going physical for obvious reasons.

This post has been edited by MOBAJOBG: Dec 14 2011, 11:58 AM

If one's holding power is less than 8 years, say only 2 years max, would gold be a bad investment compared to fiat, say Aud or Sgd? I mean as an inflationary hedge.



This post has been edited by thumbwrap: Dec 14 2011, 12:27 PM

1638 now..is it possible to get lower? thinking of buying more..

getting some this friday, if it is still RM170/g and below

hope it hold at current situation until my pay day...its crazy if we dont buy when the price gets lower like now

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Added on December 14, 2011, 2:45 pmby the way what type of gold you wish to buy at rm170.is it 999 or 916 or bar etc?

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Added on December 14, 2011, 2:46 pmwish to know

This post has been edited by hit47: Dec 14 2011, 02:46 PM

Within last three months USD lowest drop to 0.311721 in September 2011. Today it is 0.314959.. I wonder will it drop more?

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Added on December 14, 2011, 3:01 pm*Edited: I mean, lower than September currency. It will effect gold price of course.

This post has been edited by vandetta: Dec 14 2011, 03:01 PM

Bank is not a nice guy, you owe them money, for sure they want their money back.
Who said bank is or must be nice?

But Gold account is account with them, bank owe you, not you owe them.
So this (you owe them money, but house collapse and you want bank to waive the loan) is irrelevant to be used as example to protect their reputation.

Reputation of bank is about they owe you money, they fulfill their obligation to pay back, like your FD account, saving etc.

Increase spread, impose tax etc, are hypothesis, nobody knows it will or will not happen. It is prejudice to accuse somebody impose on it.
Also if you own the paper gold and never sell, aka like holding the physical gold, you still not being taxed until one day you sell it. (even if there is capital gain imposed)

You just hit the nail on its head.
If 1913 there was paper gold account and bank still survive until now, you still earn the same through paper gold as same as gold. Both pricing is the same.
Fiat system exist so long, still not fail...
So the be your guest from 1913 until 2011, still your good guest.
98 years, certainly I am dead man already.

In between if your safe deposit of gold bar loss, that store in house but collapse like Highland Tower, flood, disaster, gold totally loss...
But paper gold in the bank account still intact, despite flood, house collapse.

Don't get me wrong, I am not saying paper gold is better than physical, it has its drawback, aka trust with bank, but physical has fair amount of risk associated with it as well.

This post has been edited by cherroy: Dec 14 2011, 03:28 PM

so true...lets hope it will drop more so we have the chance to buy more

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Added on December 14, 2011, 10:10 pm1623/oz now...man this is going crazy..

This post has been edited by hit47: Dec 14 2011, 10:10 PM

Gold price is going to break 1600$, what do u guys think?

its time to buy..no waiting anymore if it does happen

Waiting it to drop 1620

i saw from PBB website saying purchase through pbebank - online gold trade can get a discounted price on purchase. Is it true?

I went to PBB bank personally and asked the teller, they said no such thing!

Any experience guys using PBebank to buy gold?

pls advise...