congratulation on the V7!  

USD/oz = 1324.02

looking for physical gold! anyone selling?

Hello everyone, I'm new to investing gold, still looking around and waiting for the right time to buy. Recently I have come across websites such as buysilvermalaysia com and mysmartgold com.my selling gold as low as RM133/g. For example a 20g gold bar could be purchased for around 2.8k. However if compared to shops like poh kong and tomei they would sell a 20g for 3300. As far as I know  these shops would buy your gold back at their current rate less 8%(just check with them) . Since pamp suisse is widely accepted does it mean I can buy the gold online at lower price and sell to the shop while still making a profit? Or did I miss something out. Or is this just too good to be true and the websites are not legit but according to my research they're legit. Sorry for the long question, hope somebody can enlighten me on this issue. Thanks!

Hello, I would like to ask about some of the gold seller. There is one that we buy gold for rm13.5k and after 3-7 days we get rm10.5k back and will be getting rm2.5k monthly for 7 months. Can somebody explain to me about this thing? Is it worth to invest?

Hi,

Is anyone familiar with physical gold investment? With the rapid rate of devaluation of the fiat currency, is it a wise choice to invest a portion of our portfolio into physical gold investment? Maybe like 10%?

Does anyone know where to buy legitimate gold in Malaysia? Gold bullion or coins better?

According to Poh Kong and Tomei, they'd buy the gold back current at 165 per gram and will less 8%.however buying from the websites are alot lower. Their price is 133 per gram. Does it mean I just buy now from the websites then sell to the shops now immediately and make those profits

Hmm true.. But let's say if they do accept gold from outside, does it mean that I can make profit by buying and selling like that

maybank paper gold
sell RM132.77
buy RM127.28

You're supposed to open up a Gold investment account with any of the banks that offers this service. Its known as paper gold as you aren't holding any physical gold with you. Though some account require you to keep a minimum amount of gold deposited in the account.
The only risk of investing in paper gold is that if your chosen bank fails, your entire investment is at risk.

check this link out Maybank gold-i

Buy low sell high = profit. Sell lower than purchase price = lose.

As what the member above has said. Its more of a gold trading account.
Do note that no interest would be paid on this account.

Though the risk of having a paper gold account is that:

1. Total investment is gone if the bank closes shop.
2. Bank could adjust the spread at any given time to favour their own interest.
3. Bank would only change their rates when theres a major price change.
4. You don't get to hold your physical gold.
Benefits
1. Do not have to hold your physical gold and worry of storage fees or any unwanted theft
2. Could sell it back to the bank easily - Bank doesn't need to check and verify the condition of your physical gold as you're not holding anything. (Easier liquidation)
So the rule of getting this account is that don't invest all your savings into this investment vehicle. The key concept that should be remembered is that "diversification".
Hope this answers your question

Don't think it would be an issue if you open it with the big banks over here

minimum 1g.

Where did you get it from ?

24/8
bank buys 130
bank sells  138
26/8
bank buys 160
bank sells  168

Assuming that you purchased 10grams on the 24th when you opened an account, at 10*138/g = RM1380

On the 26/8, you decided to sell as the rate has gone up but do keep in mind that you would have to hold a minimum of 1gram in your account. Hence you could only sell 9grams at 9*RM160 = RM1440.

Total profit = (9*160) - (9*138) = 198

You could check the rates on the given banks website. To open the account you have to do it at the branch its self but thereafter, buying and selling could be done online.

dun involve in paper gold investment if u can...involve in physical bullion either gold / silver...

gold price seems be dropping quite fast

Pls take note that bank also charge storage fee . Trading is only on weekdays . Chance that gold will head north by year end . The cost to produce is from USD 1200 to 1300, so now the price is low .