hi all sifu,

me new to gold here.  Some questions need advise.
1.  What are the things to pay attention if i wish to invest gold thru local banks ?

How's the range of the sales charges / redemption charges / sell off charges / other misc charges  ?
2. After opening a gold invest a/c in local banks, any ways i could track and perform top up/ sell off thru their online bank facilities ?
3. What's the advisable entry level investment amount range ?  Is the range up more than 2K as a start risky ?


4.  Is gold depend largely on USD ?  What IF USD went down hill or even crash over long term ?
5. Which local banks of gold investment are recommended ?
Any advise/ input welcome.  thx.

Get real physical gold. Don't buy from goldsmith shop or gold jewelry shop though. Buy gold bullion products like gold coins (e.g. Kijang Emas, Canadian Maple Leaf, PAMP gold bars, etc.) It depends on the your purpose of investing in gold. If you're looking to short sell it, don't even think of investing in gold. If you're investing it as a hedge against inflation, just buy any amount that you're comfortable with. It's a good time to buy too as gold price has been dropping for the past 2 years. Gold prices usually trends opposite of USD.

If you still want to open a paper gold account with banks, Public Bank should be the best as their spread is low but they don't offer online facility(buy/sell) like Maybank, CIMB, etc..

I really do not understand why you want to buy gold from banks
They give you unattractive spread and also you have to pay for storage and other fees.
Also they may not even have the gold inside their vault.

If you want to buy paper gold, may as well open a trading account.
You get the most minimal spread and fees.
Hai

You may as well buy the real thing.

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.

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

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?

Paper gold or real physical gold?

hey guys.. is it a good idea to buy around rm5-8k worth of gold this time around? i wanted to save it and maybe sell it back in 2 years when in need (getting married) because i've heard the depreciating ringgit values.

or should i just save the money in asb?

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

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

would u give examples of how difficult to sell of physical gold  .vs.  paper gold(from bank)  ?

buy gold from poh kong (they say follow market price)
Process;
go poh kong buy gold (RM150)
Price increase to RM200
go back poh kong with physical gold sell to them at RM200
but there is transaction cost(can't remember what they call it)
so actually profit only RM 30 or RM 40 only

buy gold from maybank
Process:
go online click buy
but because the spread is so freakin high even when the price appreciate 10USD u can't sell, u will only be making few ringgit

my strategy
trade gold in spot market & buy to wear

Physical gold seller make even more profit... 

Paper gold
Buy 130, sell 133

Physical may be
Buy 120, sell 150.

Both physical gold and paper goes up and down at the same pace one, in fact paper gold movement is following more closely to the gold market instead of physical.

Gold is still in downtrend mode. Wait for the US FED rate hike then maybe can buy cheaper gold.

for FD, maybe maximum 3-6months. Cash is king now, wait for the pullback/correction/cash to enter the market. bu when? this one gotta study study yourself 

apart from FD, if you want more flexible term FD-like, you can deposit into money market fund which has 0% service charge and the interest is calculated daily unlike FD in the term that you sign for.

i myself depositing into public mutual's cash deposit fund (a money market fund)
0% service charge, 0 management fees. 0 misc fee.
money market fund is not forex. you can try to google it.

most of the fund house provide MM fund.