did some minor buying of 20g when the price of gold drop till 165

now still holding onto it , thinking of getting some more since now its 161

which bank is more good buy and sell ya??

My Personal Opinion: UOB Bank.

sorry... mostly i buy real gold, but recently feel not safety already..

izzit i can trust on the paper gold?(bank) and

will this any charges on buying and selling?? and can it done by days transaction?? means today i buy in the morning, and sell at the afternoon?

Yes.buy at 10am and sell back at 2pm no problem at all.the problem is just losing between rm2-rm6 per gram.

orite... thanks for the reply.

INTERNATIONAL. Gold prices will fall below US$1,500 an ounce over the next three months and are unlikely to retest September's all-time highs until later 2012 at the earliest, according to a Reuters poll of 20 hedge fund managers, economists and traders.

The bleak forecast, coming after gold has lost 11% of its value so far this month, is likely to fuel fears that bullion is close to ending its more than decade long bull run and entering a bear market.

Almost half of respondents predicted bullion will fall to 1,450 an ounce in the first quarter next year, with three seeing prices as low as US$1,400 an ounce.

The forecasts come after a dismal performance last week when prices hit a 2 1/2 month low of US$1,560 and gold lost its safe haven status.

Selling was fuelled by a scramble by hedge funds for cash to meet client redemptions at the end of a difficult year and a run for cash by European banks seeking to raise capital.

"What is surprising is that in an environment where headline risk news is bigger than ever, gold has actually fallen from its highs," said Christoph Eibl, CEO and founding partner of the Swiss commodity hedge fund Tiberius.

"We believe that, in 2012, of all metals gold will be the worst performing," Eibl said.

The market eked out small gains on Friday to trade just under $1,600, but showed little sign of strength even after a small bout of short covering took other financial markets higher.

The precious metal is now heading for its first quarterly loss for the fourth quarter after its second-worst rout since September 2008 when the global credit crunch was at its height.

In another immediately bearish sign, U.S. Commodity Futures Trading Commission figures released on Friday showed that managed money in gold futures and options cut bullish bets for the second consecutive week.

The long-term outlook is no more upbeat either, with more than half of respondents predicting that gold is unlikely to stage another run to new all-time highs until at least the second half of 2012.

Four said they don't expect a new record until at least 2014.

A lack of immediate monetary easing or stimulus programs by central banks has prompted money managers to turn bearish on gold even though the precious metal is traditionally considered a safe haven in times of uncertainty.

"To me, gold is not attractive right now because we don't see any inflation threats," said Jeffrey Sherman, commodities portfolio manager of DoubleLine Capital, a Los Angeles-based investment manager with US$21 billion in assets.

Gold has increasingly moved in tandem with risky assets such as equities and industrial commodities. But gold broke ranks last week with a 7% decline, which dwarfed a 3% drop of the S&P 500.

Bullion's plunge below its 200-day moving average, which it had held for nearly three years, prompted a prominent market watcher to call an end to gold's decade-long bull cycle.

"We have the beginnings of a real bear market, and the death of a bull," said veteran trader Dennis Gartman, a long-time gold bull who completely exited his bullion investments last week.

Since September, gold has underperformed commodities measured by the RJ/CRB index and the euro, while U.S. equities measured by the S&P 500 eked out a slight gain.

Drop below $1500 per oz, (RM 169 per gram if $1=RM 3.2)
This is just a forecast, so my advice, buy when the trend increase, around RM 150-160 per gram if u are risk averse people.

Actually the gold price is kinda low already now, the indications is to wait it drop below RM160, the risk is there but I think the gold price will move back up but looking at this slow economic, but 2014 is too long to wait/predict.

For those looking for CIMB, Maybank, UOB, Public banks gold price history for 2011 Q4.

Malaysia Banks Gold Prices History, Oct-Dec2011 - goldabout.blogspot.com

im goin to uob later... how ya go direct to their counter or?? hmm...
sorry for my 1st time

You need to open a UOB gold account first.
Min initial deposit is 20 grams. Subsequent transaction in multiple of 5 grams.
You will need to maintain min balance of 10 grams in your account.

Just to add, if you're not ok with starting 20grams, try Maybank. You can just start with 1gram first.

if referring to maybank's gold rate today, its going up again slowly,or is this just temporary,u think?

done get myself open a account at UOB... and so surprise got free gif and free drink.. wtf

i was wasted my 2 hours for a long que at mbb(1.30pm), and done everything at uob until 5pm...

UOB hav good rate but must at least 20gm for the 1st time buying and follow by 5gm each time... i think that is not a big deal for me. cos thinking like buying 1gm and 1gm and earning like peanut.

but still is a good start, cos after few year play with real gold bar now turn to paper gold. wish me luck.. haha

How much when u buy it per gm? What free gift? I bought more than 2kg there never receive any give and drinks. Which branch?

free gif is i know their Branch Manager ma... hahaha...
bagan branch @butterworth lo.

2kg... rich sial... but if got 2kg.. better go buy house lo.

This post has been edited by kelvin_hata: Jan 3 2012, 09:34 PM

I already invested in paper gold for more than 5 years, keep buy/sell accumulate to more than 2kg, not each time buy 2kg bro. Lets see gold could hold firm at 1600 or not, plan to sell 300gm when UOB buy rates hit RM 165, since my buy in rates at RM 161, a sweet RM 1200 profit in just 1 week.

From the buy and sell prices can see UOB is the best place to buy and sell.

Why is CIMB ,MBB and PBB all having about the same rate whereas UOB is offering better deals to customers?? Is there any mistake or catch somewhere??

CIMB ,MBB and PBB... they got their own local support ma...

KFH also not bad,. but they lack of available branch