Date $/oz RM/g RM/$

4 oct 2662 362.4 4.234

11 oct 2652 365.62 4.288

15 oct 2654 367.90 4.311

happy or not?

No feeling.

I want gold to shoot up in both USD and MYR.

https://www.bloomberg.com/news/articles/202...time-since-2020

thailand dah cut rate.


agak2 BNM will follow larh, private bank already reduce rate.

i think good chance.

exporters are hurting. 4.3 is too strong!

...

Date $/oz RM/g RM/$

16 oct 2680 370.0 4.293 (think it's record high)
15 oct 2654 367.90 4.311
11 oct 2652 365.62 4.288
4 oct 2662 362.4 4.234

$5 to break record high; gold futures showing $2697.

happy or not?

This post has been edited by AVFAN: Oct 16 2024, 06:05 PM

Date $/oz RM/g RM/$

18 oct 2700 374.0 4.310 record high in $, RM
16 oct 2680 370.0 4.293
15 oct 2654 367.90 4.311
11 oct 2652 365.62 4.288
4 oct 2662 362.4 4.234

This post has been edited by AVFAN: Oct 18 2024, 09:33 AM

Take profit !!! 🤩🤩🤩

2710 now and it just keep going.

Combination of higher Gold price in world market & weak MYR = Profit all the way to banks 💵🤑💰🔥

still, be cautious... for short, mid term.

for long term, close yr eyes & relax...

Upside momentum. 😁
Looking forward to Rm12k p oz.

Buy back already reach RM370/g (MS Gold) at USD2710/ouch today.

Time to lock in some profit before MYR strengthen further, and re-purchase when gold price goes down + MYR strengthen?

This post has been edited by Sitting Duck: Oct 18 2024, 01:44 PM

Those who sold OUCH INDEED! 😂

for the record:

Date $/oz RM/g RM/$

19 oct 2721 376.62 4.304 week closing (record high in $, RM)
18 oct 2700 374.0 4.310
16 oct 2680 370.0 4.293
15 oct 2654 367.90 4.311
11 oct 2652 365.62 4.288
4 oct 2662 362.4 4.234

have a prosperous weekend.

The FOMO is kicking in! Let’s go!


This post has been edited by killertcb007: Oct 19 2024, 09:55 AM

Sharing my experience with fellow brother and sisters.

Went over to MS Gold on last Saturday and sold some of my 999.9 gold bar/beans bought from Shopee, and my parent jewelry.

The process for selling gold was pretty fast, took about less than 30 minutes for me since I wasn't selling a lot.

The staff would inform the rate of buying the gold from me, and ask for confirmation whether I want to proceed.

Once confirmation is given, for gold bar/gold bean, it was pretty straight forward, the staff would then cut off the packaging to get the gold bar, and place the 999.9/999 gold bars and beans into a plastic bowl (those green plastic bowl used in hawker stall).

For jewelries, they will sort out the jewelries by separating the 999, 916, 835 and 750 into separate bowls. For those jewelries that they aren't sure of, the staff informed me that they will need to use machine to scan the gold to check for authenticity.

All the cutting, sorting and separation into different bowls are done in front of me.

Once sorted out into different bowls, they will need to scan all the gold sorted , including those gold that may be seen as not authentic. They will bring into the gold into separate room, and the scanning process is done in separate room, outside of my view. Personally I don't have issue with it if it's just only gold bars/bean since I know how much gram of gold bar/beans I have.
For jewelries, since I did not sort them out and weight them before dropping by, I could only tell myself to trust and believe that everything was done properly outside of my view.

Once they have scan it, they will bring the gold and jewelries (in different bowls) out, and inform the final result of gold.

For gold that aren't authentic, they will return it back to you. During this process, I was asked to pick out the gold or jewelries that Iwould like to keep and not sell. Once I have gone through all the gold and decided the final gold/jewelries to sell, they will then weight the jewelries in front of me, print out the weight of the jewelries for each of the bowl of gold/jewelries, and calculate the final price that of each of the bowl of gold/jewelries, and the final amount for all the gold I was selling.

Once I've given confirmation to proceed, they have given the option to take cash or direct bank transfer. The staff would then take the bowls of gold/jewelries into other room, whereby they will process the final part, which is to photostat my IC (in front of me), print out a receipt for your signature, and the money is transferred to my bank within 10 minutes.

Once I've validated the amount transferred to my bank, it was time to say bye bye to the nice lady that was attending to me and many other customers that were going in/out from the out.

While I was leaving, I saw a few more couples dropping by the outlet. Business was good for them.

That's my story and experience selling gold bought from Shopee for the first time. No issue with the gold bought online, no question ask by MS Gold, in fact they didn't even asked for the sale receipt/invoice of the gold.

Just a few more notes:
1. Initially I thought that from the MS Gold website, for 999.9 gold, MS Gold would be buying at the rate under our rates > We buy, which is RM373 (Circled in Red). But my assumption was wrong. MS Gold is using the rate from Customer Sells > We buy, which is RM366 (In Green Box). MS Gold seem not having different rate for 999.9 and 999 gold, all the same price at RM366. Nevertheless, RM366 is still way better than all famous jewelries shops in the mall, which I also asked on Saturday and was told for 999 gold, the rate they are offering for buy back is RM420(current 999 rate) - 25% = RM315/g, and for 916 was RM390 - 25% = RM292.50/g (MS Gold=RM336).

2. The buy back rate according to the website is RM366.34. MS Gold will use the round figure RM366 as the rate as the buy back price, and they would also round down figure on the final amount, e.g: if you total weight is 11.12g, 11.12g x RM366 = RM 4069.92, you will be offered RM 4069.00.

3. MS Gold do not buy silver jewelries. They said they only buy 1KG and above silvers.
4. MS Gold do not buy platinum jewelries as well. Anyone know where I can sell Platinum Jewelries?



Sekian, Terima Kasih. Thank you for your patient listening to my long story.

Note that I'm not an employee of MS Gold, nor I'm affiliated with them, nor I'm a financial advisor. This is based on my own experience and for info sharing purposes.

Hoping others would share their story and experiences so that we can all huat from this gold bull !

This post has been edited by Sitting Duck: Oct 21 2024, 01:46 PM

Wow, it seems like someone has made a substantial profit! Congratz!

It's not fair to us that they classify 999.9 purity as simply 999. The 999.9 grade should be priced higher, as the price difference can be substantial, especially in large quantities.

Is that the final place you surveyed that offers the highest price? Or is it because of the convenience of transport?

thanks for sharing!

this gold shop has just raised their "gross price" from rm420 to 430.
https://www.skjewellery.com.my/gold-price/

another shop is selling 422 gross.

if the 999.9 u hv is not from the same shop with receipt, yes, -25% applied if u sell..

if u bought from same shop and sell it back to them later, the calc is diff.

the price u get is current net price (if u buy now) less 12% or 13% depending on specific origin.

so, if today's price is 422 less shop discount of say, 8, they buy back from u at (422-8)x0.88 = 364. (vs 366 in yr case.)

above is what i understood from a recent visit to a shop.

i suppose diff sellers with diff products, focus, workmanship will behave differently, although bound by certain trade rules, i believe.

i think MS gold is a specialized gold bars/bullion enterprise, should be offering among the best deals, if not the best, for 999.9.

gold shops are convenient, they r everywhere, can get jewelry of many designs, coins, bars all in one place.


well, whether ingots, bars, coins, jewelry, paper gold, ETFs, goldminer stocks... enjoy the ride!

Never ever buy sell with jewellery shops.
They will kill you.

So far MS Gold is 1 out 3 that I've surveyed which publicly list the buy back price on their website. I would never sell to gold jewelries shop with an exception of Poh Kong Bunga Raya which has a extremely high premium when buying, and selling back to Poh Kong would fetch a better price.

This is my first time selling gold bar but choose MS Gold since it was closer to my house (30 mins drive).
The other 2 shops that I've surveyed but not dealt with are:

1. Razak Jewelry - https://razak.com.my/ - Recommended by some brothers here.
2. Silver Bullion - https://www.silverbullion.com.my/Sell - Bought some gold coins from them before but never sell back.

I'm planning to try out Silver Bullion the next round when gold hit my target selling price.


It would be nice deal from SK if the spread is indeed 12%-13%. So far shops like Poh Kong, Wah Chan , Habib do not offer that kind of low rate, especially for the gold that is not bought from their shop.

I think it's also stated in their receipt on the buy back condition and spread, which I remember it's also between 20-25%.

Personally I wouldn't sell to branded jewelries shop. Their rate so far out and awful in my opinion.

This post has been edited by Sitting Duck: Oct 21 2024, 01:44 PM