hehe...openning ceremony of v4



If wanna check latest gold price click here.


1)daily gold price RM/gram

2)live gold price usd/oz

Gold price offered by Banks
1) Public bank
2) UOB bank
3)Maybank
4)CIMB bank
5)Kuwait financial house (offered physical gold, not paper gold)

** please note some gold price uploaded in the banks webpage are not updated often. Please contact the banks for latest price. Above information is for reference purpose.

pls feel free to comment n discuss

This post has been edited by mingophoria: Nov 14 2011, 08:30 AM

How to choose the best gold investment account that suits you the most? Let’s do some comparison:

* CIMB Bank Gold Deposit Account (GDA)
* Kuwait Finance House KFH Gold Account – i (GAI)
* Maybank Gold Savings Passbook Account (GSPA)
* Public Bank Gold Investment Account (GIA)
* United Overseas Bank Gold Savings Account (GSA)

CIMB Bank vs. Kuwait Finance House vs. Maybank vs. Public Bank vs. United Overseas Bank



Note: Information is obtained from the respective banks’ websites and customer service call centers.

Here are factors to consider when picking a gold account:
Affordability

Most banks do not charge a fee for the opening of a gold account. However, whenever you sign up for an account, a minimum initial deposit is required ranging from 5 grams to 20 grams.

Other than that, minimum subsequent purchase/sale shall be taken into consideration too. Especially, for those who plan to buy gold on a regular basic.
Fineness of Gold

According to Wikipedia, here is the most common millesimal fineness used for gold:

* 999.99 (The purest type of gold in the market)
* 999.9
* 999 (Fineness equivalent to 24 carat, also known as three nines fine)
* 995 (The minimum allowed in Good Delivery gold bars)
* 990 (also know as two nines fine)
* 958.3 (equivalent to 23 carat)
* 916 (equivalent to 22 carat)

Physical Gold Withdrawal

Please be noted, the minimum quantity for physical gold withdrawal required by some of the banks is 100 grams. In another words, you are not allowed to withdraw in physical gold if your invested amount is less than 100 grams.

Bare in mind, the physical gold withdrawal charges imposed is not really mentioned in most of the banks’ websites, except for CIMB Bank. It’s important to check with the respective bank first before any decision is made to sell your paper gold.
Withdrawal Options

Basically, the option to withdraw in cash or crediting into savings or current account is making no difference for me, because I will still get the cash eventually.

But, for physical gold withdrawal, are the clauses like “you can withdraw in physical gold but it’s subject to our stock availability” and “physical gold withdrawal is subject to bank’s approval” is meaning the same for you?
Convenience

Everything goes online now. We want a hassle-free investment. The idea of online gold trading via PbeBank.com to purchase and sell gold is a good practice and service, which shall be followed by others bank too, perhaps.
Cost

The only major cost to be considered is the difference between selling and buying prices. Low fees translate into cost savings. And this can lead to higher profits. Therefore, compare the price differences between all the 5 accounts and identify the cheapest gold price.

Don’t miss out on all these golden investments! Compare and choose the best gold account for yourself! Terms and conditions apply.

Source > >www.horlic.com



This post has been edited by mingophoria: Nov 12 2011, 10:27 PM

reserving for future need

reserving for future need

yes you do need to open either savings/ curent acc in public bank...got stated there in the attachment... please feel free to read that for better understanding

One thing for sure gold price is volatile between this few months, so those who cant accept the roller coaster ride should stay away as far as possible. Like shares. Nothing in the world will always rise non stop, there will be a fall somewhere around the road. However, if u tend to keep it in the long term, then just enter in any price. Gold will always appreciate over the months.

---

Added on November 14, 2011, 9:09 amGold is kept for capital appreciation. It doen's give dividend / interest like the ASB. If gold rise u earn the profit, if gold drops, u rugi lah. Same like shares. However,Gold is a tool for hedging inflation. Money value will depreciate over time. example, 10 years ago ur nasi lemak will cost u around Rm1.00. Now price is almost reaching RM3~5. This is call inflation.



Here are some of the points of having paper/physical gold


Paper gold
1) easier to manage
2) no need crack head where to ''bury'' the gold
3) save cost in terms of spread between buying and selling
4) easier to deal. Bank will buy back in any price at their spot rate. physical Gold need find willing parties to buy and depending on your negotiation skills.


Physical
1) get to admire gold everyday
2) no need waste petrol and time go bank to keep on top up or sell gold.
3) Rumors rumors say bank will go bankrupt. Then they got no money to pay u back your money that u have invested.
example Lehman brothers and the recent MF global.



This post has been edited by mingophoria: Nov 14 2011, 09:09 AM

Kijang is for physical gold.

maybank gold investment is paper gold.

oz n gram is just diff denominator only. 1oz = 31g (roughly)

---

Added on November 14, 2011, 12:55 pmThere is a possibility gold price will drop after christmas coz few people will buy presents after christmas mah... but then very hard to estimate what is the lowest price of gold now... unless u have a Cristal ball to see the future. Better earlier then never. haha. after christmas will be chinese new year.... same thing also... the price will fluctuate.


This post has been edited by mingophoria: Nov 14 2011, 12:55 PM

juz came bak from UOB after selling ^^ now price dipping liao...

Can be due by many reasons:

1) management fees
2) cheaper spread to lure customers (UOB )
3) internet banking for convenience (Public bank)
4) location of branch (the more the bank the easier to sell) - cimb, maybank

the spread of uob is always maintained at RM2, eg. bank buy gold at RM179.7o ; bank sell gold at 181.70. The spread will be actually around 1.1%. if u use premium gold account...the spread would be around 0.05% .However in premium gold, u need to buy minimum 1kg per transaction. If u are loaded then go for premium as the spread is very very low.

This post has been edited by mingophoria: Nov 15 2011, 08:06 AM

woohoo gold drop.... faster drop somore

might as well buy paper gold if u fear of counterfeit

spot price = actual price market/gold smith will buy

---

Added on November 16, 2011, 2:15 pmGold price going south...however USD going north.... which 1 influence gold price in malaysia in terms of ( ringgit/gram )more?

care to explain why??

This post has been edited by mingophoria: Nov 16 2011, 02:16 PM

slim chance of gold nearing 1600....

google search Rm to USD

anybody bought thier gold today?

hehe...

how sure r u.... greece are at the verge of collapsing liao...spain n portugal n ireland n italy also gonna fall

setting law = mayb setting standard price /impose or reduce new tax

either way, it may be good or it may be bad. Gold price is now fix. Silver price is depends on sellers price.

Those who have invested Silver may either break or gain.

Yes!! i see some hope of gold rising...

In other words, u did not read thoroughly, There is a bank Name UOB that offered a Rm2 or RM 1 spread depending on the weight u invested.

Recently just a few hours ago gold spike for 40 USD. Gold investment is for long term purpose, if u are looking for a quick buck might as well go for stocks n shares.