I don't know which bank you use but I suggest you make physical withdrawal. Read the terms carefully it doing this to know if it does incur substantial cost.

Store the physical in an insured safe deposit.

In case you need some cash. Do withdraw less say RM28k and cash out RM2k. Otherwise, take full amount in physical and pawn whenever you need cash. Ar-Rahnu provides pawn service at 7% storage (that's what they called it and it's not exactly charged like interest).

thx for the advise . i buy form cimb bank

wah...30K....tough...tough... I bought at around RM140++/g and bought some more when the price hovers around RM132++/g. Then I learn about physical gold vs paper gold and start to acquire physical ones whenever I have enough funds. When the price went back to RM142++/g, I immediately sold off the remaining paper gold and close my account. In all, it's around 5K+ and I didn't make any gains or losses.

I then used those funds to buy physical gold coin instead because the terms for CIMB gold account is not favorable to account holder and there's extra charge per grams if you want to withdraw it in physical bar.

The minimum amount to withdraw is 100g if I'm not mistaken for their own branded gold bar and not some well known branded gold bar/coin.

A good article of shipping precious metal in Malaysia:

https://besure.my/shippingsilver

Guys. Anyone know if we can do online paper gold purchase for UOB? Always have to walk in to that particular branch to top up kah?

Post Laju ah. They either Laju-ly left your item on your door step else just pass by and drop the small note in your postbox below your apartment saying you are not at home.

Lajuuunyeee....

I can say this article is 100% true! So far so good!

Don't know about this

not really. They'll usually leave the parcel pickup tag and you'll have to collect the parcel at the designated PPL written on the tag.

With this partnership, it is easier to buy/sell/pawn the precious metal of local company product. 1 downside is the price not as attractive as buy directly from Public Gold.

Public Gold Partners Pos Ar-Rahnu To Provide Additional Gold Trading Channels
KUALA LUMPUR, Nov 2 (Bernama) -- Physical gold trading company Public Gold Group has formed a partnership with Pos (M) Bhd's fully-owned subsidiary Pos ArRahnu to provide additional channels for the public to conveniently trade Public Gold physical products throughout Malaysia, starting today.

In a statement today, Public Gold said the partnership would allow Public Gold's members to purchase all types of Public Gold products of Au 999.9 purity, ranging from 0.5 gramme to 250 gramme gold bars and half Dinar to 10 Dinar wafers, from any Pos ArRahnu outlet nationwide.

The high quality gold products are accredited by the internationally recognised London Bullion Market Association (LBMA) and all Public Gold products are exempted from the Goods and Services Tax in Malaysia, it said.

"In response to an increase in market demand for investment precious metals, we see the need to open up more product distribution channels for public convenience to encourage them to keep physical gold for a brighter and secure future, which ultimately leads to a wealthier nation," Executive Chairman Datuk Wira Louis Ng said.

Established in 2008, Public Gold currently has 18 branches accross Malaysia and Singapore, while Pos ArRahnu, with 65 outlets nationwide, has been in the gold trade since July 2012.

-- BERNAMA

thanks for sharing bro. Never knew that Pos ArRahnu existed.

Your welcome. However not all post office provide this facilities. Only those in this list. http://www.pos.com.my/post-offices/pos-arrahnu/?outlets

goldprice drop to the six year low. Anyone buying it now? Is this the right timing?

Are you buying paper gold or physical gold?If you're buying them with the intention of selling them soon when the price is up a bit, then STOP. You might as well go trading or investing in shares.
If you're buying them as a hedge against inflation (or the incoming economic meltdown according to some ppl), then just go ahead whenever you have the funds. Physical gold is better than paper gold. The only cons of physical gold is the storage of it. That you have to figure out on your own.

You are talking about paper gold price right? Those are future gold prices, not the price of physical gold. There is a difference.

Technically, gold spot price is determined by the gold prices in the futures market. In a way, you can say that's the gold's future price (at a pre-determined period). The fact is, physical gold are priced according to the spot price plus some premium which is not too far off usually.

Either way, as ive mentioned many times before, gold prices are on a downturn and will continue to do so for some time. The time to buy isn't now and wont be for the next few months. Gold hasn't hit the bottom yet.

the price drop is not that significant due to ringgit is weakening.

Yes but good luck buying physical gold at the spot price. A good sign of market manipulation is you have cheap price but you cant buy the goods.

Gold is a commodity, how could it hedge against inflation?

If you dont understand it, you havent done your homework. Btw, forget what mainstream economics and media tells you. Search for alternative POV and research instead.