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 Gold Investment Corner V7, all about gold

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hey_there
post Aug 12 2013, 11:41 PM

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Hi, I'm. New here and new in gold. I'm planning to trade in GIA. Anyone here has any GIA account from different banks can share their pros and cons? Thanks in advance
hey_there
post Aug 13 2013, 12:29 PM

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QUOTE(prophetjul @ Aug 13 2013, 09:57 AM)
Matey

If you wanna make some fast money, its casino.
Gold is no casino.    biggrin.gif
*
I thought buy low sell high is speculating and it's consider gambling. No? tongue.gif


hey_there
post Aug 13 2013, 12:41 PM

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QUOTE(saigetsu @ Aug 13 2013, 12:34 PM)
brb do some research
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Don't worry mate, if it's harom, banks won't offer GIA services.
hey_there
post Aug 13 2013, 07:05 PM

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QUOTE(phantom_zero @ Aug 13 2013, 04:10 PM)
4 your info, gia is harom because all transaction of gold must be physical..not in paper.
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Hmm.. Buy physical gold then..
hey_there
post Aug 14 2013, 11:26 AM

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QUOTE(number79 @ Aug 14 2013, 10:30 AM)
Maybank Gold Investment Account
DATE  SELLING (RM/g)  BUYING (RM/g)
14-Aug-13  141.85  135.87
Last update :  14-Aug-13 at 08:48:50 AM

my average buying price is rm135.67.
just a few cent profit. biggrin.gif
*
Better than nothing rclxms.gif

The price is 1323/oz now. I personally think is high to buy. What u guys think?
hey_there
post Aug 14 2013, 03:11 PM

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QUOTE(suadrif @ Aug 14 2013, 01:22 PM)
then maybe u want to check the price for January this year?
its 1700usd/oz
so is now high price to buy or vice versa?
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Yea but aug 6 is at 1274/oz.
hey_there
post Aug 14 2013, 04:06 PM

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QUOTE(HeHeHunter @ Aug 14 2013, 03:32 PM)
If you bought it at RM 12x, it is a nice time to sell considering the peak seems to hit at RM 140
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Yea, it seems to stay at rm140 these 2 weeks.
hey_there
post Aug 14 2013, 06:55 PM

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But I heard a lot of ppl predict that gold will drop down to 1000/oz - 1100/oz based on Dow/gold ratio. I don't know, I just started paying attention to gold recently in aug 13. So I'm still very very new in this.
hey_there
post Aug 15 2013, 02:28 AM

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QUOTE(HeHeHunter @ Aug 15 2013, 12:14 AM)
if that is so, those who bought it at RM 12x will be laughing now. I consider myself a conservative. Make good profit (as long as it is better than FD) and run. Aim higher, risk higher.
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Hmm.. I thought as long as u don't sell u wont lose money right? Most is u got ur money stuck there without interest.
hey_there
post Aug 15 2013, 12:05 PM

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QUOTE(HeHeHunter @ Aug 15 2013, 08:51 AM)
You are right. Let's say you are still holding it at RM 17x and now you wait and wait and it stays static at RM 14x, you are actually at a loss should you sell off your (paper) gold. I may be wrong though.
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true. the only risk i see here is risking ur money being stuck in the bank like FD but without interest. (FOC for the bank to use). unlike futures, where u risk losing ur capital plus pumping in extra money to maintain ur acc. tongue.gif
hey_there
post Aug 16 2013, 04:07 PM

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gold price was 1314/oz on monday and it's now at 1363/oz on friday. the market is closing soon. i wonder what will happen when the market re-open next monday.
hey_there
post Aug 18 2013, 01:43 PM

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QUOTE(bryanyeo87 @ Aug 17 2013, 11:22 PM)
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
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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.
hey_there
post Aug 19 2013, 12:56 PM

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QUOTE(lanusb @ Aug 19 2013, 11:47 AM)
pheww, just sold all my GIA, left 1gm to maintain account @ RM142

better let go first and catch again next time
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How much u bought it? So u'll be praying hard for the price to drop so that u can enter again hah.... rclxms.gif
hey_there
post Aug 19 2013, 12:57 PM

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QUOTE(kaiserwulf @ Aug 19 2013, 12:32 PM)
What if they offer discretionary hibah on the gold instead? is that ok? brows.gif
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Sounds like genneva...
hey_there
post Aug 19 2013, 10:28 PM

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Sorry, noob question. If I'm not mistaken, GIA doesn't involve in any physical gold and I assume it won't affect prices from demand supply. What about ETFs? Will it contribute in the outcome of the price from demand supply?
hey_there
post Aug 20 2013, 11:29 AM

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QUOTE(lanusb @ Aug 20 2013, 11:00 AM)
heh heh, thank god I sold most yesterday and now sitting and eating popcorn, enjoying the movie........later when down low only buy again
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yea, u did a great job. everytime i see the price drop from 1380 to now 1365, i thought of u. great job again
hey_there
post Aug 21 2013, 09:48 AM

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QUOTE(prophetjul @ Aug 21 2013, 09:36 AM)
I am not jelly.

I bought gold in 2002 for $230 p oz....how can I be jelly?

No need to shew off..........  yawn.gif
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Physical gold? Wow, now I'm damn jelly u d.
hey_there
post Aug 21 2013, 10:14 AM

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QUOTE(MOBAJOBG @ Aug 21 2013, 10:02 AM)
The problem with the accumulation of physical gold is when you want to sell them.
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I'm sure there's way to sell it. Imagine everyone hoard gold, and the market is out of it.
hey_there
post Aug 23 2013, 12:46 PM

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QUOTE(saigetsu @ Aug 23 2013, 10:01 AM)
andd increase today by 1 sen. CIMB though... spread become larger.

gonna wait next week see how... some speculate it would drop but didnt happen
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hmm... it moved up and down and in the end, back to where it was last weekend. overall, it's stagnant. no fun this week. we'll see what happens next week then.
hey_there
post Aug 27 2013, 04:28 PM

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QUOTE(icemanfx @ Aug 27 2013, 03:24 PM)
Guess buying gold is becoming a defensive instrument for RM. Fearing more outflow of forex, who know like India, the gomen may impose import duty on gold in next budget?
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we dont import as much gold as india.
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