can whatsapp Razak to ask

for msgold
website price 339.4, u get 339
total selling price xxxx1.70 u get xxxx0.00

i have bought gold beans from more than 10 shopee sellers
some seller 1g becomes 0.99g if you are in bad luck. (yh, yl, mj, pg was my past experience)
experience once a seller only ship out the receipt lol
nt sure about sf because not sell yet
can buy gold bar if you dont like this or you dont have the weight scale at home

does those gold bean come with any logo or "chop" of purity and their company name/logo?

This post has been edited by Iceman74: Sep 2 2024, 02:12 PM

Only purity and gram, no logo.

ohh... since there is no tamper proof capsules/case. No scare of the purity & gram?

I have a weighing scale to measure each bean. About the purity, I have buy and sold a few times, the shops always pay me 999.9 price without any issue.

It may be more risky than branded gold bar but the price is cheaper too. Depends on your risk appetite. And of course, only buy from reputable sellers.

Yes, I have sold a total of around 20 grams of gold beans at that shop. I sold them in July at RM 356 per gram and in August at RM 352 per gram. I've kept all my receipts and passed them on to Razak Jewelry. They only offer cash payments, not bank transfers.I believe, based on what I know so far, that they offer the highest buyback price among jewelers.

I've checked, and they calculate the price by converting from USD per ounce to RM per gram, then deducting 1.5%.

My personal forecast, not financial advice:
gold at 2500/OZ, fx rate 4.30MYR
342.22 MYR for gold buyback price (after -1.5%)

(short term, I don't expect it to go beyond RM360.)
gold at 2650/OZ, fx rate 4.15MYR
348.27 MYR for gold buyback price (after -1.5%)

(long term, probably the best-case scenario, we hope for)
gold at 3000/OZ, fx rate 3.90MYR
370.59 MYR for gold buyback price (after -1.5%)

So MS Gold follows the buy back price from their website but round down the amount. Still not bad in my opinion. Much better than some other Tiktok gold buyers and Jewelry retail shops.

I don't see any point selling gold to retail shops like Habib / Poh Kong / Wah Chan with exception for Poh Kong bunga raya whereby the bunga raya gold is over inflated but the Poh Kong buy back price for bunga raya is higher than other gold buyer (e.g: MS Gold)

I still don't quite understand till today why many people are buying Poh Kong gold apart that it has 1 app that check the gold certificate with QR code.

I do have similar experience on gold bean , getting 0.98g - 0.99g. I tell myself it's because of the wind.

I hope you were able to get a refund on the gold bean that have not sent you. I hope I never have to go through that ordeal.

Nice. Thanks for sharing your experience on selling of gold beans.
The ringgit strengthening has indeed take a hit on gold price for Malaysian.

fx rate 3.90MYR? Wow..

This post has been edited by Sitting Duck: Sep 2 2024, 05:27 PM

hi, pretty new to this.

1. Is public gold okay ?

2. When do you start to save gold? Is it better to save in cash or just straight save in gold?

does bursa gold dinar ok? alot of fees apparently

how do you know/determine whether those shopee sellers are selling genuine gold beans in the first place?

Firstly, unless you have a gold-checking machine, you can't be entirely sure if the gold bar/bean you purchased from Shopee is genuine. However, this shouldn't be a reason to avoid buying gold online altogether. The risks can be minimized if proper precautions are taken.

Choose sellers that operate a physical shop.

Opt for stores marked with “Mall” or “Preferred” on the platform.

Check reviews from customers who have completed their purchases to ensure reliability.

Personally, I don't see why one should pay a premium or above-market prices at a physical store when there are opportunities to buy gold at significant discounts online. For example, if you're going to buy a 1g bar for RM500 at a physical shop, why not buy it from the same seller's official online store with a discount voucher? It's the same product, and instead of waiting 10 years for a return on investment, you could potentially see results in 5 years thanks to the voucher subsidy.

for the record:



think new record is $2560.

now $2559 per oz, RM356/g.

spend some money over the weekend, ya?

https://www.kitco.com/news/article/2024-09-...z-metals-prices

(Kitco News) – Precious metals prices are rallying across the board on Friday morning as rate cut optimism breathes new life into risk assets, while also boosting the attractiveness of non-yielding safe havens like gold.

Spot gold hit a new all-time high of $2,581.23 per ounce just minutes before the North American market open and is up 0.84% on the session.

Any plans to masuk anymore gold bars to your collection, chief ?

I did bought some gold bars from Silver Bullion last week. Its for my diversification, and also i like to feel physical gold, lol

Unfortunately MYR also so strong ..spoil the party 😟

No. i have done all my buying from 2002 to 2009.
Enough. Gold is now 18% of my total assets.

wow... that is more than my epf position.... quite high....

not thinking of taking some profit? or just enjoy the rate cut cycle by fed with steady hands?

No. Wait toll the Feds cut.
If anything to go by, when theu did that in 2009, gold went from $681 to $1900.
Hopeful.

i subscribe to this latest view:




as for strengthened RM, it's probably running out of steam. maybe BNM will intervene!?