Then you need to see why want to buy gold in the first place.
Majority people want to buy gold so that they can gain money, want to have some inflation hedge etc.

All are about to gain money, so to gain money, the one has lower spread, lower risk is the one preferred.

Unless one really like the gold, want to see the yellow shining metal, want to own and hold the yellow metal, then yes, go for physical.

So you want to buy at Rm208 which the real value is RM17x (buyback), in the process to gain money?

Physical price is based on paper price, this is a fact.

they r selling at RCP RM208/g...i just finished reading another topic of discussion about Genneva which offer the similiar scheme....too much doubts and risks...hence i decided to pull off and start doing my survey to buying gold from banks, even maybe with lower return but with lower risks as well...better safe than sorry 

thx guys for all the useful reply 

got email reply back from genneva:
u sure u're not interested?  

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.

U r referring to goldsmith or gold shop as poh kong?
goldsmith sure highest rate. They do not deduct the cut throat percentage like retail gold shop does. They just collect purify labour fee only.
they even collect gold dust.

Try avoid those gray colour gold shops. they deduct a lot if you take cash. even go to 50% of the market price. and they will told u fairy tales why u need to loss so much % . if u really want to do it, you may try the well-known and old establish gold shop @ bangkok bank. they do real business for long term.

Jewelery shops mark up the price higher than bank...if you want physical gold, can try bank or other providers also.

Can recommend me good jewellery shop to buy pure gold? Afraid getting scam or higher price than standard price.

Selling at RM200, but offer to buy back at RM180, (this buy back generally may only valid from the entity sold to you, but outside real market price may be around RM160-170)
vs
bank selling at RM170, buy back at RM168.

hmmm, which one is better?
It is up to individual opinion, I won't comment which one is better.

Banks wind up due to cash flow problem?
Yes, it can by 2 possibility, interbank credit freeze up (like 2008) + central bank refuse as last lending resort (never happen)
This risk, yes, do exist, but very very minimal, chance even less than plane crash, titanic sink.

Are you working for Tomei or Poh Kong?

To buy gold bars such as Pamp bars from them jewellers is to be SUCKered...paying excessive premiums for the bar at jewellery rates.

A few pages back someone bought at Rm6200 for a Pamp bar which he could have got below Rm5800 else where

Last time i popped into Tomei to check out their gold bar prices, twas 25% above what i would be able to purchase for........i asked th shop assistnat if anyone bought at such exhorbitant prices. She smiled and said YES.

I supposed she was right since someone bought at Rm6200 when could be gotten for less than Rm5800.

Remembered she tried to sucker me into thinking that the Pamp Dragon was a limited edition!
Could have sued her for that! 

Are u sure their spread is around 12% for goldbar?

If their rate for 999 goldbar is rm200, so the buyback will remain -12% with no effect of current spot price. Their spread will based on their selling price, right? If u refer to bank's rate and it drop around 5%, how come u minus 5% from poh kong rate? Haiyaaaaa...

Oh my mis.......issit for admiration or somethin else?      dear..............

LoL. Y buy gold bar from them?

U know where they bought the gold from ?
They buy from bank.

FYI, public bank @ ss14 do selling gold bar/brick .
some consolidated gold chain stores do buy from them.

Its not a limited edition. Its not a numis coin.  Its a gold Pamp bar like the norm....dear  
And getting fleeced for 25% for a gold BAR is not very nice......

Did you get yours at Tomei, Habib or PK?  

Dear, do you understand the difference between numis coins and bars?
Just cos you paid 25% more at the jewellers does not make it numis.

The Pamp Dragon is no different from the Fortuna BARS...

Further more you can get it cheaper else where..................WHY would you wanna
pay at a highr price at the jewellers? 

How much deduction if sell back pamp dragon to them?

First of all YOU are the one to recommend ppl to buy Pamp bars from jewellers which is sillly as i have
pointed out
Next later in response to me you said
Dear.......

There are only two specs as far as investment in Pms are concerned, ie bullions and numis
If pamp dragon is a bar, it cannot be numis.
If you buy a bar and its not for investment, whats it for?

NOW

you say
It appears you are not even sure of the spread of buy/sell of the pamp bars by the jewellers!
Are you trying very hard to pay a premium of 25%?

IF SO, i will gladly sell my pamp bars to YOU for a premium of 20% above spot.......deal Dear? 
How many do you want?

Why are you so worked up about the pamp dragon?

The prices for the common pamp fortuna at the jewellers are ALSO over the top.
Last time in asked it was like 25%.
So why do you wanna pay for that?

The point of all this is NEVER BUY GOLD BARS FROM JEWELLERS (which YOU recommended in a post)
because of the price.

Theres no pamp rabbit, pamp snake ...........  

---

Added on January 30, 2012, 1:53 pmToday (145pm) the Fgjam gold price is RM198p gram
Thats translates into Rm6148p oz.

i can get the same for Rm5436.

Thats 13% lower..looks like its cheaper than the last time i asked.

Anyway you can get the same pamp fortuna at UOB at Rm5633 presently.....if stocks are avail.............

---

Added on January 30, 2012, 1:55 pmOr 1stopgold(disclaimer:i dont own this company)

selling at Rm176 p gram

Not sure what you can do with the jewellery....try gold smelters?

What coin is that? Why do you think its worth >10k?

Dont be a silly ass........

already told you pamp fortuna of dragon, its the same.
Whatever you tout , the idea is DONT BUY GOLD BARS FROM JEWELLERS.

YOU ASKED THE PERSON FEW PAGES BACK TO BUY PAMP BARS FROM JEWELLERS, SPECIFICALLY TOMEI.
DO YOU WANT ME TO POST THAT POST TO REMIND YOU?  HERE YOU GO.......
ONly stoopid suckers like you advise such ............... 

Especially when  a few of us has SHown you that you can get pamp bars cheaper, just not at jewellers

OR ARE YOU TOO THICK TO COMPREHEND?

---

Added on January 30, 2012, 9:58 pm
i know that. i am just asking the poster why he thinks its worth that much.
100 years means nothing if the mintage is high or its in poor condition.
i have coins minted in 2009 worth in excess of Rm10k.....

This fella in its complete set is worth around USD2900



If its grading is MS70, it will fetch USD3700   

Hi
can anyone let me where i can sell my old gold jewelry at good prices as trade in or sell to jewelers is very low price
thanks