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 Gold Investment Corner V8, All About Gold

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sinbad2k
post Jul 12 2015, 01:33 AM

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QUOTE(shadowblack @ Jul 11 2015, 07:50 PM)
Thank you for the information
Can tell me which is the government most recognized legal tender?
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I think you're asking which gold bullion that's recognised by our government?I know Kijang Emas is recognised for sure as it's the official gold coin of Malaysia. But I reckon, other gold coins from other country is recognised too, like Canadian Golden Maple Leaf, Australian Kangaroo, Chinese Panda, South African Krugerrand, etc... I think your concern would be how easy to sell off your gold bullion. If so, just get Kijang Emas coin or any gold bullion products that UOB Malaysia sells (you can check their website). For Kijang Emas, you can sell back to Maybank or Ar-Rahnu. Same goes to gold bullion products sold by UOB Bank but you must keep the "certificate" in order to sell back to UOB.


QUOTE(10996455 @ Jul 11 2015, 10:46 PM)
I tot gov recognize tender come with higher premium??
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Yes, they are but the advantage is that we can easily sell them compared to other gold bullion products where they may need accompanying certificates to certify their finesse and other details..

QUOTE(10996455 @ Jul 11 2015, 10:50 PM)
I avoid nubex cos really high premium for item where ppl can buy on spot price.
Er do we get tax for import silver/gold coin into mal ??
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Yeah, Nubex and other PM dealers spreads are approx 20%..Also, they're the place to go for other coins that you can't get at banks if you're into collecting gold coins. But the spread only matters if you're thinking of buying and selling it off in a short span of time to make a quick profit. If indeed that's your intention, you're better off with stocks..
On import tax, I think some other forumers here has the experience on that, but what I do know is that those bullion products in the LBMA good delivery list are exempted from GST.
zodd
post Jul 12 2015, 06:22 AM

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QUOTE(shadowblack @ Jul 11 2015, 09:44 AM)
Anybody can suggest where can I buy 1g or 10g of gold bar in klang valley? Just started learning in gold investment. I'm new in these gold investment
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If you want 1gm or 10gm of gold bar, Public Gold has this product on sale with the best price and lower spread compare to normal jewellery shop. You can whatsapp me with any questions anytime at 0193520178. I'm their authorized dealer but i will give fairly opinion and not bias to any product as long as it is good.
shadowblack
post Jul 12 2015, 06:34 AM

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QUOTE(zodd @ Jul 12 2015, 06:22 AM)
If you want 1gm or 10gm of gold bar, Public Gold has this product on sale with the best price and lower spread compare to normal jewellery shop. You can whatsapp me with any questions anytime at 0193520178. I'm their authorized dealer but i will give fairly opinion and not bias to any product as long as it is good.
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Pm me the price please
zodd
post Jul 12 2015, 07:27 AM

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QUOTE(shadowblack @ Jul 12 2015, 06:34 AM)
Pm me the price please
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PM Sent
sinbad2k
post Jul 12 2015, 06:50 PM

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QUOTE(10996455 @ Jul 12 2015, 01:31 PM)
In US they can sell/buy  their gold any place close to spot price. How come Malaysia not like in US?
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I'm not sure what you meant by "any place". Could u give example of any US based PM dealers on how close they sell gold to spot price?
sinbad2k
post Jul 12 2015, 09:42 PM

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QUOTE(10996455 @ Jul 12 2015, 09:18 PM)
Well u can bring any karat gold to them then they will determine the karat then base on the current spot on price -10 USD max if the place is not a doggy one. The sell gold back must have cert thing to me is really shocking part. In US they will only ask for cert if yr coin is limited mintage ( numismatists).
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If that's the case, you can sell your gold anywhere in malaysia too. Ar-Rahnu is everywhere and those goldsmith's shop too. I don't think it's that shocking to have "certs" with the gold bullion since it's to protect the interest of both sellers and dealers. Both of them don't have to fork out $$ to get the gold assayed when seller wants to sell them. It's different with gold coins though, since their purity is guaranteed by the issuing country and dealers readily accepts them. Having said that, it's possible to counterfeit gold coins so in the end, having some sort of receipt/certs from where it's bought helps in selling them off. Have you sold gold to PM dealers in US before?

You haven't explained how close to spot price those PM dealers in US are selling..and example of that.
sinbad2k
post Jul 12 2015, 10:56 PM

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QUOTE(10996455 @ Jul 12 2015, 10:09 PM)
Let say spot is 1163 USD per oz u bring to those gold dealer,u want to sell back to them depend on what u bring unless it a bullion gold coin rest of the stuff they will melt and make a bar out of it . u will get around 1153-1143 but roughly -10 USD from spot if the pace not a rip off joint.
Well for me I don't think a cert can protect any thing in mal ,we cant prevent real cert + fake gold sold to consumer ?
Even oppo dealer sell fake oppo phone XD. All my friend in the state was shock when I told them the current gold market is like this in mal.
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I see, so that's what you mean. I believe our gold market here isn't as developed as in US and shipping costs adds to the gold bullion price here. Hence the higher price. I thought local goldsmiths shop do melt gold too. Or maybe you can consider starting a business like that here.

I didn't say that it'll prevent counterfeiting from happening. Certs/receipts aren't foolproof. But they do give a certain level of confidence to the buyer that the gold is as what's stated in the certs/receipts. And so far it's what the best buyer and seller here can do to protect their interest and expedite the buying and selling to happen.
nexona88
post Jul 15 2015, 06:45 PM

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For the first time since August 2009, gold is cheap
QUOTE
Bank of America Merrill Lynch noted that on a valuation basis, gold was viewed as “undervalued” by fund managers for the first time since August 2009.

By BAML’s measure, the precious metal is 1% undervalued.

http://www.businessinsider.my/gold-is-unde...KBHi1bT7ihV1.99
ohcipala
post Jul 15 2015, 10:31 PM

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QUOTE(nexona88 @ Jul 15 2015, 06:45 PM)
For the first time since August 2009, gold is cheap

http://www.businessinsider.my/gold-is-unde...KBHi1bT7ihV1.99
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So time to invest in gold? tongue.gif
nexona88
post Jul 15 2015, 10:34 PM

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QUOTE(ohcipala @ Jul 15 2015, 10:31 PM)
So time to invest in gold? tongue.gif
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No Comment sweat.gif
sinbad2k
post Jul 16 2015, 12:48 AM

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QUOTE(nexona88 @ Jul 15 2015, 06:45 PM)
For the first time since August 2009, gold is cheap

http://www.businessinsider.my/gold-is-unde...KBHi1bT7ihV1.99
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shopping time
joylay83
post Jul 16 2015, 01:41 AM

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out of curiosity, is there a license for retailing gold? means u startup a company, get gold from supplier and sell to others? blink.gif
Zanmai0146
post Jul 16 2015, 07:43 AM

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QUOTE(herculeskl @ Jul 16 2015, 02:35 AM)
Since ringgit is keep dropping, is it rational to keep the saving in the form of physical gold?  hmm.gif
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Since your saving is getting less and lesser.. So you should start working?

Same concept but alternate choices given
pustapazik
post Jul 16 2015, 05:28 PM

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Pocket besar, buy la some more kehkehkeh


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ChAOoz
post Jul 16 2015, 07:11 PM

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QUOTE(herculeskl @ Jul 16 2015, 02:35 AM)
Since ringgit is keep dropping, is it rational to keep the saving in the form of physical gold?  hmm.gif
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I don't think we will become Zimbabwe, so instead of buying gold which is based on USD, why not look into gold producer which trade on relatively weak currency to us as well as a way to preserve your capital and bet on gold biggrin.gif
pustapazik
post Jul 17 2015, 09:44 PM

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Ehh getting cheaper, buy some more la 😂

This post has been edited by pustapazik: Jul 17 2015, 10:34 PM


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nexona88
post Jul 18 2015, 11:12 AM

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not low enuf laugh.gif
cklimm
post Jul 18 2015, 10:12 PM

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Guys, i just came across the BuySilverMalaysia.com, the price is attractive, but still 2 things worry me:
1: How to tell if the gold bar is real? Can do a serial number check with Pamp?
2: They deliver using Pos Laju, what if my 100g gold bar gone during the delivery? Any buyer protection?
wil-i-am
post Jul 18 2015, 10:20 PM

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Avoid Gold when USD is on uptrend
sinbad2k
post Jul 19 2015, 12:29 AM

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QUOTE(cklimm @ Jul 18 2015, 10:12 PM)
Guys, i just came across the BuySilverMalaysia.com, the price is attractive, but still 2 things worry me:
1: How to tell if the gold bar is real? Can do a serial number check with Pamp?
2: They deliver using Pos Laju, what if my 100g gold bar gone during the delivery? Any buyer protection?
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Though I've never bought from them before, the products they carry seemed legit enough. It's stated on their website that they use tracking number for delivery. I reckon if it's lost, the tracking status would still be "undelivered" and the onus is still on them. You're sort of protected that way. If you still don't feel comfortable with it, just walk in to their office.

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