gold is very low margin business.
If one play with very little capital, then one can easily loses out to forex.
A few point changes in forex will wipe out all the profit you make.
Sometimes, for dealer who sell 1 kilo bar, the profit only RM500 - RM1K with the risk of RM170K
tough business.

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Added on February 1, 2012, 11:16 ambuy better food and books. Got spare $ go travel locally or regionally. forget about the saving as it won;t make much differences.now u got time, spend it on travelling lah.



This post has been edited by GoldChan: Feb 1 2012, 11:16 AM

Hi bro, capital is not on your side but time is indeed on your side. If i were u, i would not invest gold in maybank due to its high spread rate of 4-5%. I may invest in cimb gold account due to its low spread rate of 2.99%. If u have about 3k and able to fork out rm800/month, then the best is uob gold saving account due to its lowest spread rate of 1.15%. I have already made profit of rm1000 from my uob gold saving account that i've invested 3 weeks ago.

This post has been edited by izzudrecoba: Feb 1 2012, 11:56 AM

Eugene

I commend you on your concern about the future for youself and I do support your thoughts on investing in precious metals, however, do read my suggestions below.

On the forumers who gave their opinions earlier, I got the impression that they may be asking you to stand down on your thoughts on precious metals so I'm going to ruffle a few feathers here.

I'm going to ask those who gave their advice about "Time is on your side" response:

If you can go back in time knowing what you know now, what would you do?

My suggestion to you is:

1. Do your own analysis and find out your financial standing.

2. Do brainstorm on ways you can find the extra income (legally) to allow you to do what you plan to do.

3. Do buy your insurance policy, top up as you go along as this is a very good form of leverage.

4. Do invest in precious metals, preferably physical.

5. Do have some cash on hand, as we still need to use them.

6. Take only our opinions/suggestions, but seek not our approval for what you feel is the right thing to do.

Regards
Pub Mutt.

As long as it is surplus, why not? rather than leave it in saving account, put in paper gold lah.wait for 1 or 2 years and then see what happen.. I guess young kid can take a big risk.

Just 1 gram per month, ni big deal la.wont affect your normal young life.

sry, i have a noob question. need to have at least 3k to invest in gold?

New kids need helps here..
currently i rapidly buy the dinar know in my hand..
i know the price gonna rise year after year but did invest like this make more benefit?

or just invest from cimb or maybank?
btw can teach be little bit how to deal with bank...
thks

No need to have 3k to start investing. As long as you have the cash to purchase the min of 20grams (UOB or PB) or 1 gram (Maybank)...

But there's no intrinsic value in gold... As in it won't pay you dividend or keep growing (unless you foresee real demand growing)... More worth it to put in consumer stocks.

Yes..the gold is not growing but the price is increasing.

By 3k, I mean u need to fork out roughly rm3k+++ to purchase minimum 20g to open uob gold savings account (1g = rm 172 as of 31 Jan 2012). If you are tight on budget, i would suggest you to invest in cimb gold saving account as u can invest 5g and a subsequent 1g, and due to its low spread rate of 2.99%. I would suggest you to avoid Maybank gold saving account due to its high spread rate. If you dont care about profit maximization, then by all mean please invest at Maybank.

This post has been edited by izzudrecoba: Feb 1 2012, 08:06 PM

aiya... food book all those got allocation ady... its all surplus from my allowance... takkan all spend on fine dining and stuff meh? if its even enough for those... just wanna save the money or probably make some in the long run...

i see. cimb and uob which one is better? i understand that the spread is lower for uob but uob is really far away from my house.
u mentioned that rm800 is needed per month, what is this for? top up every month?

This post has been edited by Agent 45: Feb 1 2012, 11:33 PM

800 to get bout 4grams gua... doesnt have to be every month top up. no?

for UOB,

i see that before cny the rate was Rm166/gm
after cny (1st feb) it is Rm172/gm

i am considering dumping a big amount and withdraw it few weeks later as i heard it will continue to go up after cny.

any bros can confirm this rumour is true? how about from past experience eg. last year cny period.

appreciate ur comments

No right and wrong, as long as you have good understanding about investment and have surplus to invest, it is always good to start from young.

besides gold, there are other investment like silver, bonds, unit trust and reits which doesnt cost much for initial start.

Putting money into the comodity hands?

That's the problem... Unless you can foresee buying low and selling high, there is very high element of risk involved for something you can't measure the value and can only speculate...

i diiffer on that opinion.
Its valued in many ways. You just have to find them and then make your own opinion.
Its just that valuing gold is probably not according to our traditional indoctrinated ways of the
modern economist, etc.

For eg WHY has gold risen from $250 in 2002 to $1700 in 2012?

One reason- $ is tanking.........

for cimb

minimum 10 gram to open acct, top up 5 gram + 1 gram = 6 gram

am I correct?

i didnt see it is high risk.just set your own target, what is your preferable % of profit in let say 1yr or 2yrs then cash it out.no prob.