Seems to be shaky now. Black gold plummeting. What would you do?

Good time to buy into Gold?

I am thinking of opening a Maybank Gold account.

Or should I buy physical gold? Please advise. Tks

I got same idea as you do, i wanna buy physical gold as a saving(not investment)

Due to my lack of discipline i cant save money, will keep using it when my cash start to run low

So, i wanna buy gold, and keep it, every 2 3 months buy 10g, or enough money buy every month, is it recommended?

Just buy from gold shop? And what is maybank gold? May share some knowledge?

I am a newbie too. But i guess by sharing and discussing we can learn more also.

Maybank account is a passbook account. You can go and buy gold into your Gold Savings account. Withdrawals in cash or physical gold at selected Maybanks.

To buy physical gold... there are those in facebook selling physical gold from mints like public gold, bahrain gold etc..
i am sure you can also buy from gold shops or kedai pajak... i wonder which is the best options?

Anyone care to share more info? Tkz

Yeah

Will ask further regarding this maybank gold, hopefully not easy to cash in, otherwise will be the same

If for investment, say every time there're good profit then sell, then in next session i buy again, should i get paper gold, or physical gold ?

If i see the prices. Paper gold cheaper. Physical gold more expensive. I would be opting for paper gold

buy=sell=buy=sell=buy=sell=buy=sell=buy=...... so on. dont stop.
no matter which way the market is going..
just make sure, youre getting the market price.. not the bloated(over priced) bank price

This post has been edited by Sham903n: Dec 23 2014, 05:01 PM

Please advise.. how to get the market price...

How we know if it is the bloated bank price?

heres one way to know..
http://www.mks.ch/mobile/myr/v1/

Yup. Much cheaper. Have to call them to buy physical gold as I see no option to purchase online.

i'd advise to avoid gold savings account by banks. most (if not all) is not guaranteed by PIDM. in case of anything happen, you just lose it all.
since the gold price is plummeting, it's not like you gain anything. with the spread, fees and others you are indeed losing instead of gaining.

it is better to keep physical gold. have safe box in your house or keep somewhere safe. to gain money, plan for reaaaally long term investment plan (wait for the gold price to increase) or actively trading your gold. buy at bottom, sell at peak. refer to gold price chart you can find in internet or follow experts analysis to determine good time to buy or sell.

Hmmm... just for discussion, physical gold more expensive by around 20%....

Hard to recoup initial capital. Unless the price suddenly sky rockets.

But certain bank giving good rates, and if need to withdraw can request for physical gold. Some with charges, some without charges...

oic. me myself didn't look into detail on the banks.

Ok for example. (Approximate prices)

Now buy 1 gm outside Rm167
now buy 1 gm @ say, bank A... Rm 138. Difference?

After price increase, if bank A can request for physical gold (some bank can, some bank can but with charges, some bank cannot)

You get physical gold. Then you take outside to sell... make some money lor...

If you're looking for short term profit, you shouldn't be investing in gold.

Physical gold more expensive by 20%?? Could you give an example? If you're referring to physical gold that can be withdraw from bank in paper gold accounts (e.g. CIMB), it's around that figure. Doesn't worth it and it's a blatant ripoff. Local goldsmiths shops are ripoffs too.

Physical gold is definitely more expensive that paper gold because of the costs of making it + some profit and usually not that ridiculously more expensive that paper gold (depending on the type of physical gold and from where you buy it).

If you're into physical gold, you should buy :

1)Gold coins -
Coins minted by Government mints with face value and is legal tender (e.g. Malaysia's Kijang Emas, Canadian Gold Maple Leaf, American Gold/Buffalo Coin, Australian Gold Kangaroo, Chinese Gold Panda, Austrian Philaharmonic,etc.

2)Gold rounds -
Same shape as coins but they can't be called coins because they're not Government minted and does not have face value and is not legal tender. They're minted by private mints. Each private mints have their unique designs and serial number. If you prefer this, make sure to buy rounds minted by internationally recognised mints. e.g. PAMP Suisse, Johnson Matthey, Sunshine Mint, Royal Canadian Mint, Perth Mint, etc..

3)Gold bars -
Same as gold rounds except that they come in bar shape.

1gm are expensive on the physical side and hard to sell (unless they want to collect them, anything below 100g and "minted" are just for collection and rare ones with nice serial number and cert are a real collectables, "cast" usually bought for real gold value and are melted for jewellery).. you want to buy cast 100gm to get at market price

This post has been edited by Sham903n: Dec 23 2014, 09:14 PM

Agreed. I get some offer of around Rm165 per gram physical gold

Mind sharing from where you normally buy & sell physical gold?

Google how to buy physical gold. You will find many sauces.