You can check on NUBEX and BUYSILVERMALAYSIA. Both offer wide selection of gold silver coins and bars and buyback.

Maybank and Public bank

Realized that physical is better, since I want to buy more , also there is a minimum amount to hold in the account if I ever intend to liquidate the entire accounts if prices drop or if I decide to cash out and invest in other things

This post has been edited by bryanyeo87: Aug 17 2013, 11:25 PM

Saw the spreads offered, not very attractive...

we are finally gaining slight momentum in gold

J.P. Morgan is bullish on gold even after Paulson dumped holdings

JPMorgan Advises To... Buy Gold?
Tyler Durden's pictureSubmitted by Tyler Durden on 08/16/2013

Gold shrugged off news today that Paulson & Co had cut its exchange listed gold exposure in half and rose 2.2% to $1,365/oz. This may be delivering an exclamation mark to define the end of the 10-month, 25% fall in gold and 50% fall in gold equities, (while the S&P advanced 13%).



The World Gold Council reported today that physical gold demand remains strong, questioning the price weakness seen in paper markets. Additionally, gold supplies could be constrained in September if labor strikes are initiated in South Africa. There’s typically some positive seasonality to the gold price in August/September helped by India, which is still the largest single (28%) gold market.



Often this strength correlates with the Denver gold conference. The conference attracts many of the larger gold investors and given the other positives for the metal (and that the depressing effect of the Q2 results is past) we would not be surprised to see a stronger gold price in the run up to the show. We’d encourage shorter-term investors to consider getting long the gold space with a four to five week time horizon. This year the Denver Gold Forum will be from the 22nd to 25th September.



The World Gold Council shows that gold demand remains strong. China and India remain large physical buyers of the metal. We believe this highlights that enthusiasm for the metal remains strong amongst the majority of the world’s population. Indian demand is quite seasonal related to events and festivals. While some might argue for less Indian buying due to tougher regulations and the weaker rupee making the metal more expensive, the WGC data suggests the opposite. Perhaps fear of currency weakness lifts buying.



Paulson &Co’s gold purchases in 2010 put the spotlight on the metal, so it’s encouraging to see that the market was not disillusioned today after it was disclosed that this position was cut in half. Perhaps this news was seen positively because the overhang has been removed. The gold market may also have reacted to lower risk of "tapering”.



South African gold supply could step down in H2. South African wage negotiations have moved into a mediation phase and could move to plans for strikes by as early as next week. While South African production has fallen and it is now only about 5% of mine supply, production could step down again, given the significant wage demands, which could make parts of the industry there uneconomic.

And more importantly, You are Here




If you believe gold's going to go up, buy silver

Finally they admit!

ohh.. i tot the banks freeze withdrawal

well, they offer world wide recognise coins and bars. so when zero hour come, you can liquidate them anytime anywhere.

and more importantly, you do not necessary sellback to seller, I am sure there are other channels to sell eg ebay, mudah, facebook etc even on lowyat.

afraid of that too. hence why am buying physical now


Yup, I know it is recognized worldwide.. zero hour is nearer then most think though..

hmm, due to the nature of the items and quantity , I don't really want to to go about finding buyers, because it will be a risk for me

Of course physical is always better. I prefer them too. But I have storage problem as break in is very common nowadays. Paying for safe boxes in banks is gonna increase my investment costs. So I opt for GIA instead.

Maybank only needs 1g of gold remain in the acc whereas others min 10g.

Has anyone ever brought from APMEX? How's the overall experience?

paper money is being paid dividend to cover inflation.

gold dont need dividend. so far the trend increase for the past 10 years.

if any company offer dividend for gold, it go against BNM policy.

pheww, just sold all my GIA, left 1gm to maintain account @ RM142

better let go first and catch again next time

When you bought it? Nice exit time.

What if they offer discretionary hibah on the gold instead? is that ok?

How much u bought it? So u'll be praying hard for the price to drop so that u can enter again hah....

Sounds like genneva...

MBB GIA close today [1 Gram SellingMYR 148.30 Buying MYR 142.09]

....I bought at various price, RM151, rm148, rm135, rm129 and rm126(the most and t he lowest) last time bought high at rm151, so have been averaging like hell to keep the value low, finally reached rm140++, fast fast sell to cover cost + abit of holding cost + emotional cost (heart-ache pain when see price fall)

Good for you

Less "heart Pain" for you

Gold Trades Below Two-Month High as Rally Spurs Investor Sales

“We saw a little bit of profit taking,” Afshin Nabavi, a senior vice president at bullion refiner MKS (Switzerland) SA in Geneva, said today by phone. “Physical demand is a little bit slower than last week because of the higher price level, but there is still some demand.”

India has a way to increase the gold supply!!!

If it really work this time, there will be enough gold for internal circulation within India border and affect the global gold demand!!!

They are even going to melt down the jewellery!!!Every single piece of scrap gold they can get!!!

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

India to launch Save Gold Campaign

The campaign is aiming to activate some of the gold currently lying fallow with individuals, banks, high networth individuals, charitable trusts and even temple trusts.

MUMBAI (MINEWEB) -

India's bullion industry is set to revive its gold deposit scheme in a bid to mobilise gold coins and bars lying idle.

The Save Gold Campaign (Swarna Bachao Abhiyan) is hoped will mop up some of the gold currently lying fallow with individuals, banks, high networth individuals, charitable trusts and even temple trusts, that is estimated to be as much as 25,000 tonness.

An announcement in this regard was made at the tenth anniversary of the India International Gold Convention currently on in Jaipur, the pink city.

The All India Gems and Jewellery Trade Federation held a meeting recently with disparate parties in a bid to tackle India’s growing demand for gold and the resultant widening current account deficit.

Vinod Hayagriv, ex-chairman of the All India Gems and Jewellery Trade Federation said India's apex bank, the RBI, is to frame and regulate the national gold deposit scheme, where eligible jewellers can mobilise gold through eligible banks.

Gold lying idle with corporates, individuals and temples can be unlocked and brought to the market, said DV Ramesh of Bangalore-based The Jewellers Association.

Haresh Soni, chairman of the Federation said the organisation would interact with the finance ministry to discuss the new guidelines.

The new scheme

While consumers would be exhorted to bring in idle gold to authorised jewellers, the jeweller in turn would check the authenticity of bullion or coins and issue a certificate and seal the gold, handing it back to the consumer.

In the case of jewellery, it would be melted down in the presence of the consumer before the certificate is issued.

The consumer would then have to take the sealed gold and authenticity certificate to the bank, which would issue a deposit certificate for a valid period, ranging from one and a half to three years.

After the said period, the depositor would get the gold back with interest as promised by the bank.

Hayagriv added that the campaign would attract over 100 tonnes of gold within a short period.

There are also talks to lend the idle gold to a non banking financial company (NBFC), which would be exclusively set up for the purpose. The NBFC would allow investors to withdraw the gold before the maturity period, and would lend the gold to jewellers.

The only drawback, as of now, that was made evident at the Jaipur conference was that investors would need to offer a minimum of 100 grams either of gold bars or coins to be eligible. Institutions would need to bring in at least 1 kilo gold.

"India’s increasing reliance on gold imports contrasts sharply with gold global supply which has remained largely static. When we look at the total Indian accumulation of gold [over time], it amounts to about 10% of world gold, amounting to around 18,000 to 19,000 tonnes. This is not taking into account the significant amount of scrap gold in the country,'' said Hayagriv.

Old Scheme

With the objective of bringing the privately held stock of gold into circulation, and reducing the country’s reliance on gold imports, the Indian government had rolled out a Gold Deposit Scheme through the State Bank of India in 1999. However, given the weak response, the scheme was withdrawn and re-launched with modifications in 2009.

However, leading public sector banks in India which launched the scheme did not promote it aggressively, ``as it was done as a government induced exercise.''

Moreover, the lack of facilities to melt the jewellery, test the purity of gold and convert it into bars proved to be a major hurdle. Banks incurred heavy expenditure to melt and convert the jewellery into pure gold bars.

None from the retailer and jeweller community were made a participant to the scheme. The concept also failed with uneducated women in rural areas, the unbanked part of the population, who were reluctant to part with their gold jewellery.

Women considered the melting and purifying cost as a reduction in the quantum of gold and the additional making charges, when the jewellery was remade, also proved to be a major deterrent.

Given the emotional attachment to gold jewellery across the country, the concept did not work well.

Thereafter, the government made certain amendments to the scheme. Mutual Funds and Gold Exchange Traded Funds registered with the Securities Exchange Board of India were asked to deposit part of their gold and make the scheme more attractive for individuals.

While the interest income from gold deposit scheme would be taxable like any other income, the gold deposited under the scheme would be exempt from Wealth tax.

Hayagriv said to make the scheme a success, there was an urgent need to have jewellers as stakeholders. ``Presently, jewellers do not have a major contribution. However, with their vast reach all over India and understanding of the gold market, retailers and jewellers can be a major contributor to the success of the scheme.''

"We have suggested that there should be no questions asked on the source of gold and that wealth tax should be applicable on the realisation of gold,'' he added.

The Federation has also asked that the quantum of gold mobilised under the scheme should be reported on a monthly or a quarterly basis. This, the Federation has held, would be a major factor to bring out idle gold lying in household lockers and in temple trusts across the country, and would help stem the Indian government's decision on gold imports.