my 1st physical gold bar investment ...

PAMP Swiss Gold...

We all should submit a general letter to UOB. Spam their e-mail account!!

hi, newbie here.

Want to ask,what that it means?

Min Subsequent Transaction : Multiple of 5 grams(from UOB bank)

Thx alot.

It means after the initial purchase of 20 grams, all other future purchase have to be in multiple of 5 grams.
eg. 5 grams, 10 grams, 15 grams ....

Just wondering, how old are you?

hi. looking to invest in gold for my children future. is there any local Financial Institution whereby I can open an account via online.

Think Banks are safe? Think again!

I think 1000000x times already.
Yes, it is 99.9% safe, no money, print the money, problem solved.
Life goes on, dance goes on, party goes on.

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

Hi Dchk,

You are required to open saving/current account prior to invest in gold saving account. For quick gain I would suggest you pick UOB Bank as the preferred financial institution for your gold investment, due to its lowest spread rate as compared to other banks.

Good luck!

Just to add... UOB does not have online banking for gold transaction. That's the con

where you buy it? is it through online?

its 1 oz so obvious

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Added on January 19, 2012, 3:53 pmvietnam dong have interest rate 14%... yet people scare to put money in... the interest cannot cover the devaluation of the currency and inflation of the country..

their government ban imports of gold... which is hedge against inflation... their internal gold price always higher than world prices.

This post has been edited by xproc: Jan 19 2012, 03:56 PM

Did you buy it locally ?... worth >RM5k

what is the reason that you guys think the gold will be increasing in chinese new year?
From my point of view, gold is not a good investment in 2012. A lot of people keep talking about the difference of currency and gold, the fiat money keep decreasing its value as federal government keep printing the money, cause the inflation rise, and thus rise for the demand of gold for risk aversion. i attended a talk, is about invest in gold, they are selling coins or some kind of agent or middlemen i have no idea, just i think their talks dont have too many statistics and facts, they even played a video which is solely on prediction, the video is about " the crush in the financial market, US dollar no longer been used by people, only gold and silver are the global monetary reserve and the only trusted money, the gold price hits more than $5000/ounce, everyone is panic, and so on." yeahhh, it is possible the scenario in the video happens, i dont know how likely the occurrence of the consequences, but if really wants to educate the potential investors, these kind of videos shouldnt be played, as it is not real, and is like too much exaggerate. i think all the potential investors need to see the historical data, the statistics, and use these specific information to analyze for them, and perhaps make some prediction.

structure of demand shift from east to west, global market share of north america was 68% in 1980, and only 27% in 2010. indian sub continent and east asia, was only 35% in 1970 to 58% in 2010. so, we no longer can ignore the market of asia if we want to analyze in gold. in addition, the distribution of gold demand in 2000 were jewellery (more than 80%), INVESTMENT demand (about 5%), and technology demand (less than 14%). however, in 2010, changes in INVESTMENT demand is from 5% to more than 35%. So in this case we should not only look at the demand of jewellery like how other people did in the past, nowadays, we need to take demand of jewellery and investment into account as well. For the point of demand of jewellery, who is the biggest buyer of jewellery. Indian sub continent and East asia constitute more than 65% in the world in 2010. So, guys, what do you think the economics outlook of india and Asia countries? perhaps you can do some research on your own to figure out the prospects of the purchasing power of asian in 2012. The smallest factor is industrial demand, which you guys could take into account together with the result from your research about the purchasing power of consumers.

There are so many factors that could affect the price of gold, like central bank agreement gold, hedge fund, etf, liquidity of gold, and so on. i cant really go into every parts in very detail. i will try to explain to you guys what is in my mind about the price of gold right now in a more simple fashion.

there is a wave of gold profit taking from 2011 third quarter, and wave of buying US dollar from 3rd quarter. the price of gold is about $1650, but the economics condition in europe is worsening. Is this a safe heaven asset? i have no idea, as it is positively correlated with the euro. whenever the drop in euro, cause the dropping in gold price too. for the point of inflation, do you think the inflation is gonna surging in the near future? with the outlook of economics, with the behavior of central banks, LTRO by ecb, bond purchase programs in other major countries' central banks, and according to lot of economist predictions, i dont think the inflation is a serious problem. maybe some of the people might claim the higher fuel price, whats happening in iran and persian hormuz, perhaps you can do your own research or look for the thread in this forum about iran sanctions, to know more about the issue, for my opinion, the loss is enormous if the continue surging in the price of crude. no one wants to see that happens. The imf is the 3rd largest gold holder in the world just right after US and germany, imf refused to sign the central bank gold agreement 3rd version, and they have a new income model scheme, if you understand what i am talking about, you might think this is a threat to gold price too.

anyway, i just attended the talk yesterday, there are lot of people are wanting to invest in gold and gold coins, right after the talk. please do more research on your own.

may i know which company organise the talk?

i am sorry, my purpose of writing is not defaming any company.

http://www.maybank2u.com.my/mbb_info/m2u/p...cntKey=INV03.03

if we want buy from them, we should see their 'sell' right?

i didn't know bank sell expensive, and buy from us 'low'.

Errr .. Sorry, I just don't think you can be a businessman.

Selling price is always higher than the buying price. It's the same with FOREX when you need to buy foreign currency to travel.

Imagine if the bank sells low, let's say 160; and buys high say 165.
Then, anyone with a little bit of financial intelligence would keep buying from the bank at RM 160, and sell to the bank at RM 165, earning RM 5 per unit.
If he keeps repeating this process, the bank keeps losing RM 5 per unit until he goes bankrupt!! I know Maybank is stupid but can't be stupid-er than this!!

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Added on January 20, 2012, 8:07 amAlso, just to clarify so that you don't get confused ...
when the bank says 'buy' or 'we buy', the we means the banks, not you!!

So when you see the buy price, it means the bank buys.
When you see the sell price, it means the bank sells!!

This post has been edited by TSOM: Jan 20 2012, 08:07 AM

RM 6200, 1 troy ounce = 31.1gram

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Added on January 20, 2012, 9:40 ambought from Tomei Goldsmith

This post has been edited by thomas: Jan 20 2012, 09:40 AM