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 Gold investment corner v4, Will gold price achieve USD2000 by 2012?

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7CY
post Feb 2 2012, 12:10 PM

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QUOTE(izzudrecoba @ Feb 2 2012, 10:23 AM)
For CIMB, Minimum subsequent Purchase/Sale is 5 grams and must be in multiple of 1 gram. That mean, you can purchase/sale 5,6,7,8,9,10,11 gram of gold at one time.


Added on February 2, 2012, 10:27 am

UOB is the best in terms of the spread rate, the buy rate, and the selling rate. Look, it is not wise to say the location is far away from your house. Russia and China has invested oil & gas in Iran and Caspian Sea. Did Iran located about 5km from Russia and China? Of course not. Did Russia and China hunger to maximize their country's profit? Probably yes. Did Russia and China aims to increase their GDP growth through oil & gas investment? I bet they did.  When you want to invest something, pour your heart into it and create a will/way to explore the best way to reach the location.

The RM800 is a rough estimation, as one need to make a subsequent purchase/sale in 5 grams and must be in multiple of 5 gram for UOB Bank. That mean, one can purchase/sale 5,10,15,20,25 gram UOB gold at one time.
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well said, spoken like a visionary investor. Pour your heart out and make your own way, or else...




7CY
post Mar 22 2012, 02:53 PM

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QUOTE(izzudrecoba @ Mar 22 2012, 09:55 AM)
This is not a recommended banks to invest in gold saving due to their respective high spread rate (Between 4 - 5%). For the best choice for gold investment account, invest in UOB bank due to:-

i. The lowest spread rate (only 1.15%)
ii. The highest selling price as compared to other gold investment account
iii. The lowest buying price as compared to other gold investment account

The downside for UOB Bank is that one need to make an initial investment of 20g (about RM 3300++) to starts their gold investment, and one can purchase and sell their gold in 5g, 10g, 15g, etc. Other than that, UOB is the best choice!


Added on March 22, 2012, 9:59 am
Hi BL!Tz^_^,

Welcome to the world of gold investment. Let's hope that in the future, we can be another "John Paulson" - The legendary gold investor  rclxms.gif

If I were you, I will top-up for another 1k++ (total of 3k+++) to open a gold saving investment account in UOB Bank. UOB Bank is the best choice due to their lowest spread rate as compared to other banks.

With RM 20,000k as a modal, I've made a profit of RM 520 in less than two months (Jan - Mar '12) from their account. Now I have sell all of my gold saving unit, used that money to purchase UOB Kangaroo Nugget, and pawn it at Ar-Rahnu to leverage on their money to purchase more physical gold!  Sweet!  icon_idea.gif
Please read more below:

http://www1.uob.com.my/business/GMIM/GMIM_pga.html


Added on March 22, 2012, 10:01 am

Welcome Leonakuan,

For trustworthy supplier, you can purchase the psychical gold from either UOB Bank and Maybank.

UOB Bank = Canadian Mapple Leaf, Australian Kangaroo Nugget (Recommended), Singapore Lion

Maybank = Kijang Emas (Currently Out of Stock)
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Any reason why is Australian Kangaroo Nugget is recommended compared to Maple Leaf or others?

I do agree that UOB offer the best deal in terms of the spread, but let's hope they allow online trading in the near future, it's much more convenient, eg Public Bank.


7CY
post Mar 22 2012, 03:45 PM

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QUOTE(izzudrecoba @ Mar 22 2012, 03:25 PM)
Hi 7CY,

Very good question. Apologize as I didn't mention about this earlier. With Kangaroo Nugget, one can leverage money by pawning the gold coin at Ar-Rahnu Bank Rakyat and we can even sell back the pawned gold coin to UOB Bank.

With Maple leaf, one can pawn the gold coin at Ar-Rahnu but UOB won't accept the gold coin if we intended to sell back the pawned gold to the bank. This is because the cap of the Mapple Leaf was unsealed during the pawning process.

In terms of international value, Mapple leaf is of course better as compared to Kangaroo Nugget.  thumbup.gif
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Hi Izzudrecoba,

which means that Australian Kangaroo Nugget is recommended if we plan to pawn it at Ar Rahnu or any other pawns and then resell.

If not, Maple Leaf is still preferred in recognition and value wise. Of course, it has to be remained sealed to maintain its value.

Have you purchase and sell back gold coins from UOB?

Is the process simple? Any terms and conditions?

I plan to convert some of my gold from PBB to UOB bullion products.

Thanks

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