are u quoting the wrong message post?

if you're not comfortable with online precious metals dealers, you can look for those which has real physical premise and accepts walk-in or self collection. If you totally want to be safe, you can buy from Maybank(Kijang Emas gold coin) or UOB (Canadian Maple Leaf, Australian Golden Kangaroo, Singaporean Gold Lion). But buying from UOB requires you to open a saving account with the bank though.

This post has been edited by sinbad2k: Nov 26 2014, 03:15 PM

anyone can access UOB gold page ?

with paper gold , we can sell when it gets profit; but can we also do this for real gold like above mentioned ?

USD 1,196/oz

Gold doing 1197 and is going sideways/consolidating/ranging and maybe forming a breakout pattern, Crude Oil and USD "damp". This of course is the "big picture"

I am learning this trade myself & If I am not mistaken, there are only six banks in Malaysia where you can trade/invest in "paper gold" with most allowing withdrawal in physical gold. The banks are UOB, Public Bank, Maybank, CIMB, Kuwait Finance House and HSBC. You can check their website for full details on their Gold Account.

For me, the order of importance 1) Purity - is it 999.9, 99.9 or 99.5? this to ensure we can make an apple-apple comparison between the banks offering this product 2) The buy/sell spread i.e. how much I pay when I buy & how much I get when I sell it back and is measured as a percentage. The lowest is UOB at 1.61%, the highest is KFH at 6.1%, HSBC is ????, is in Oz whereas all the others are in grams and still ???? 3) Whether can trade on-line so as to avoid the hassle of traveling to/from the bank, an important factor I think 4) The mark-up compared with the spot price (e.g. London Fix). I believe the rest of the matters are +/- and it includes a) how many grams initial purchase b) how many grams subsequent purchase/sale c) minimum balance in account d) Do I need an associate saving/current account e) Whether our "paper gold" is backed up with physical gold f) passbook or monthly statement, etc etc.

o You can track the banks selling & buying price on their website but HSBC ???
o How much to start is dictated by the bank based on specified "Initial Investment". How much you want to invest is up to you but if you are new better to start with the minimum... get knowledge, tools, skills and experience before building on it.
o There are many factors which affect the price of Gold... USD is just one of it
o Which banks? I am still checking it out

Welcome to "paper gold" trading, lets make money here then talk about physical gold and then on to Bursa's gold futures (FGLD) which is moving quite slow

paper gold is the most cheapest when you think about it. You only pay through the spread...and the gold is non tradeable with other customer.

This means paper gold is direct trade between you and the bank. The only way you make a profit is at the banks loss when the price move upwards....the bank stands to earn through the spread and the possibility the gld price might come down further and you dont have the financial discipline of holding power...

However let say you make a correct and big call... and yu profit a few hundred thousand or mils...when you cash out you are profiting at the banks loss....

I hope the banks honour their contract and dont dilly dallying on the payments

So my best advice before investing in paper gold...read the banks term and condition fineprint carefully.

1) The paper gold can be changed to real gold even at an extra service charge if u wish...

2) No grey area clause the bank can avoid/delay buying it back from you when the price is profitable and advantageous to you(at a bank losses)

This post has been edited by max_cavalera: Nov 27 2014, 12:34 AM

Definitely. I'm not sure about others in this forum, but I buy gold as a hedge against inflation. I prefer physical gold that's close to me to paper gold as paper gold are usually backed by nothing but a "promise" by the bank. In the event of a currency crisis, all these paper gold could probably be worth less than what you initially invest or nothing at all. They aren't insured by PIDM too.

Real physical gold on the other hand, especially from those recognised mints, will definitely hold value and easy to be liquidated since they're from recognised mints which guarantee their purity.(not those gold from goldsmith shop like gold bar cap bunga raya,etc.)

I've paper gold account with CIMB, but the T&C is just not so favourable to me

guess you can shout out loud its cheaper there, with no answer means nothing. lowest I can get for a pamp here vs market *.*k spread.. beat that.

This post has been edited by Sham903n: Nov 27 2014, 07:20 AM

would u mind give an real life example on how the real gold buy in -> gain profit -> sell out ?

Err...what do you mean? It's just like buying stocks.....buy at current market price-> prices increase -> sell off and make profit. Does that answer your Q?

This post has been edited by sinbad2k: Nov 27 2014, 11:21 AM

like, how's the example procedure in local banks when we want sell off the real gold

Paper gold or real physical gold?

you can use gold to hedge againts inflation, but in order to do that you need to lock the price.. hence the true meaning of "hedge",
means if the price of gold drops much more than inflation rate.. youre f***ed

This post has been edited by Sham903n: Nov 27 2014, 11:34 AM

real physical gold

If that happens, indeed I am! But, after learning how modern monetary system works, I've more faith in precious metals than in paper assets.

Ok, let's take Maybank for example.

1)You can just go to any Maybank branch that sells Kijang Emas gold coin (they come in 1Oz , 1/2 Oz. and 1/4Oz denomination) and tell them you want to buy Kijang Emas gold coin. They'll need your IC for sale documentation.

2)Then you pay and get your gold coin at the rates on Maybank's Gold & Silver counter rates(see the link below).

3)Then when the gold price is up, you can go back to Maybank(or Ar-Rahnu) and sell them the gold coin. They'll probably require the original receipt if you're selling to Ar-Rahnu(you can ask Maybank staff more on selling the coin), but in any case just keep the receipt.

4)You then get your money at the current price of the coin listed on Maybank's website Maybank Gold & Silver Counter Rates

Here, to find out which branch has Kijang Emas gold coin: Kijang Emas Gold Bullion Coins

For UOB, you'll need to open up a savings account with the bank and it's only available at UOB HQ in KL. But they have Canadian Maple Leafs, Australian Golden Kangaroo Nugget and Singapore Gold Lion coin which is cheaper than Kijang Emas. They also has PAMP gold bars too. Though I've not bought from UOB before, I reckon the buying and selling process will be more or less same as Maybank's.

I'm not sure about other banks' procedure but I found that Maybank's one is pretty straightforward.

this is weird, it was still okay on Tuesday. It wasn't accessible since yesterday. I check their rates everyday.

yeah UOB website gold prices has been inaccessible , if you guys find another link to it please share. TQ.

So now, is the predicted year end crash for gold still stands?