first time looking into gold, it right time now or wait few more month?

it is always the right time
u only need to know whether to long or short it

You can look at it yourself directly at http://www.kitco.com/charts/livegold.html

currently above 1200/oz range



This post has been edited by Sarah Jessica: Nov 25 2014, 04:57 PM

yeah broken the 1200 mark

hi all sifu,

me new to gold here. Some questions need advise.


1. What are the things to pay attention if i wish to invest gold thru local banks ?

How's the range of the sales charges / redemption charges / sell off charges / other misc charges ?



2. After opening a gold invest a/c in local banks, any ways i could track and perform top up/ sell off thru their online bank facilities ?


3. What's the advisable entry level investment amount range ? Is the range up more than 2K as a start risky ?


4. Is gold depend largely on USD ? What IF USD went down hill or even crash over long term ?


5. Which local banks of gold investment are recommended ?



Any advise/ input welcome. thx.

Thanks, I appreciate it very much

This post has been edited by lyralp: Nov 26 2014, 10:41 AM

Gold doing 1200 but unable to maintain earlier strong upward momentum, Crude Oil and USD also slipping.

Gold Trades Little Changed as Dollar Falls From Five-Year High
http://www.bloomberg.com/news/2014-11-25/g...with-rates.html

how much cheaper in singapore for a 100gm Cast PAMP? thank you

Get real physical gold. Don't buy from goldsmith shop or gold jewelry shop though. Buy gold bullion products like gold coins (e.g. Kijang Emas, Canadian Maple Leaf, PAMP gold bars, etc.) It depends on the your purpose of investing in gold. If you're looking to short sell it, don't even think of investing in gold. If you're investing it as a hedge against inflation, just buy any amount that you're comfortable with. It's a good time to buy too as gold price has been dropping for the past 2 years. Gold prices usually trends opposite of USD.

If you still want to open a paper gold account with banks, Public Bank should be the best as their spread is low but they don't offer online facility(buy/sell) like Maybank, CIMB, etc..

Isnt UOB bank better since their spread is even lower?

can help enlighten why lower "spread" of gold is better ?

what are the others strength of the gold offered by public bank besides low spread ? any other misc charges ?

I think you're probably right. I haven't keep up with Public Bank's gold account rate for a long time. Their spread is higher now but they used to be lower.

If the spread is lower, you lose as little as possible when you're selling back. For e.g. the bank sells you RM137/g but will only buy at RM132/g from you if you decide to sell them back. The spread here is RM5/g.

Usually, paper gold accounts requires you to have minimum amount of gold to open an account and some charges applies on you if your gold account falls under certain amount of gold e.g. 10g for a specific period (differs from bank to bank). So you have to maintain a certain amount of "gold" in your account. If you want to convert your "gold" to a real physical gold (usually gold bars), the bank will usually impose a certain amount of charge per weight e.g. RM1/g + some processing fees for the conversion.

Also, the bank usually requires you to open a saving account with them to facilitate buying and selling gold with them.

This post has been edited by sinbad2k: Nov 26 2014, 12:38 PM

what are u guys' practice for long term investment ? buy the real gold together with paper gold, or mostly paper gold ?

those tracking statistics as in previous posts in this thread, is it based on only paper gold ?

I really do not understand why you want to buy gold from banks
They give you unattractive spread and also you have to pay for storage and other fees.
Also they may not even have the gold inside their vault.

If you want to buy paper gold, may as well open a trading account.
You get the most minimal spread and fees.
Hai

You may as well buy the real thing.

This post has been edited by sylar111: Nov 26 2014, 02:17 PM

UOB bank gold page error ?

hi sylar, it was me initiate the question about buying gold from local banks and simbad had given the advice..

as i'm still very new to gold, and i was trying to balance the transaction security vs profit gain..

because i'm still not quite convinced if i could handle on myself to deal with the transaction over some other websites on gold investments.

or do u guys have any better suggestions ?