UOB GOLD SAVINGS ACCOUNT

Bank Selling (RM) 140.30/g

Bank Buying (RM)138.2/g
http://www1.uob.com.my/business/GMIM/GMIM_pga.html

Tq..  I am lazy pig

Guys, now looks like over the counter will get GST Tax. So does this means that in future we buy gold from BSN will surely kena already?

Looks like it. Can anyone clarify?

you buy mineral water rm1.00 no fee but got GST rm0.06.

meaning to say, other gold, except LBMMA 999.9 need to pay premium 6%.

those GST on transaction fee only applicable for withdraw money / IBG transfer, not buying physical or paper gold.

you buy mineral water rm1.00 no fee but got GST rm0.06.

meaning to say, other gold, except LBMMA 999.9 need to pay premium 6%.

those GST on transaction fee only applicable for withdraw money / IBG transfer, not buying physical or paper gold.

Mati la like that. If buy gold will kena GST, when when we buy online from BSM sure have to do online transaction am I right. So meaning another 6%??

Am I wrong??

What is LBMMA??

Ok, Lets say I want to buy gold next month from BSM and the price let's say at RM4000. How much will I get charged additional??

How exactly do you calculate that 6%???

- You buy UT, the 6% is charged based on SC. So instead of 2% SC, it will now be 2.12%.
- You buy stocks, 6% is charged on brokerage fee & clearing fee.

Mati la like that. If buy gold will kena GST, when when we buy online from BSM sure have to do online transaction am I right. So meaning another 6%??

Am I wrong??

What is LBMMA??

Ok, Lets say I want to buy gold next month from BSM and the price let's say at RM4000. How much will I get charged additional??

this GST implementation still got alot of grey areas haven't clarified cleary. 
cannot imagine what to untung if got 6% charge when sell or buy gold 

I'm confused. Both UOB bank and Tomei selling Maple Leaf gold coin but the price so much different. Happen to pass by Tomei and saw the rate 999 was RM175/gram. Asked the salesman and was quoted Maple Leaf gold coin 1 oz about RM5.4k (RM175 x 31.1). Checked UOB website bank selling the same coin for RM4,580.

Question is why should we buy from Tomei if the price difference is so huge at about RM900 (RM5.4k - RM4.5k)? Any difference in design?

normal gold retail shop need to buat untung for sure and their gold need charge workmanship that why expensive  and if u buy from tomei probably u need sell back to tomei with below market price 15-20%. so better buy from UOB.

Thank you for the info. But the salesman told me got workmanship charge on top of it RM 200. 

if you want to buy gold bar / coins for investment better go buy with banks / BSM / dealer

TOMEI / goldsmith only jewelry.

Though the price of gold has seen a significant drop over the last two years from it’s all time highs of about $1900 per ounce, many experts and analysts believe that western central banks and their colleagues at major financial institutions have been manipulating the price. The rampant manipulation is believed to stem, in part, from the formerly Rothschild owned London Gold Fix, an organization made up of five large banks that make a daily determination of what the price of gold should be.

It is this unilateral control by western banks that recently prompted the Chinese to create their own Shanghai Gold Exchange. What separates the two is that the Chinese will be using their currency, the Yuan, as the reserve rather than the U.S. Dollar. Moreover, unlike their European counterparts, the Chinese will be trading in actual physical dollars.

It is this process by central banks in the west that will ultimately lead to the destruction of the paper gold market as it exists today.

The banks operating in these paper markets do so with gold that they don’t own. They trade in paper receipts. The reason that’s a problem is that there are anywhere from thirty to fifty “owners” for every ounce of gold out there.

Craig Hemke of the TF Metals Report discusses the western gold scheme in a recent interview with The Daily Coin and says that when the music finally stops there are going to be a lot of people who think they own a certain amount of gold but all they’ll really be holding is a worthless paper ticket:

The problem is easy to see. Should just two people show up claiming the same ounce of gold one of them is coming home empty handed.  What Craig Hemke describes is a scenario where as many as fifty different people are going to claim ownership for the same ounce of gold. The same is likely true for the silver market.

And now that the Chinese are dealing directly with physical gold it is only a matter of time before the entire scheme collapses. In fact, the Chinese and Russians know it’s coming and that’s why they’ve been furiously purchasing gold on the open market.

The solution should be obvious: If you invest in gold make sure you hold the physical asset in your hand.

Gold surging to USD1217/oz after penetrating the USD1200/oz resistance level.