Please don't ask 2x. Thank you. Open one thread and asked here also.

Is UOB gold good gold investment (spread is small compare to other banks in malaysia)?

This post has been edited by Ramjade: Jul 15 2016, 10:17 AM

Who said? Feds going to rise rates (which they won't but the market believed they would)

You can buy gold ETF backed by reql gold from US or SG.

Of course. Why?
1) zero spread. The price you see is the price you buy/sell
2) all transactions can be done online.
3) back by real gold
4) no need to carry gold

This post has been edited by Ramjade: Jan 2 2018, 06:16 PM

Just buy gold ETF. No need to think about spread. No need to give greedy banks extra money. It's not really paper gold unlike bank gold. Gold ETF is based on price of real gold

It's listed on bursa. Not buy from Affin Hwang. Affin Hwang is the provider of the gold ETF.

Buy like how you buy stocks from bursa.

Yes. You got few options.
- buy paper gold from banks (highly not recommended because the spread is too large)
- buy using hellogold (also not recommended as the charges is too high)
- buy Gold ETF. You can do it 2 ways
1) Buy the one listed on bursa
2) Buy SPDR Gold ETF

I am not sure about paper gold and hellogold.
But for gold ETF, it's based on market time. If you buy Malaysia gold ETF, it follow bursa time. If you buy using SPDR gold ETF, follow US market time. Of course one can trade gold futures too.

Who ask you to buy Malaysian gold ETF? Go but the real gold ETF. SPDR gold ETF.
Besides it's already factor into the NAV. You won't be deducted additional money per year.

Good luck buying paper gold from banks with so high spread.

Malaysia gold ETF vs Bank paper gold. Of course Malaysia gold ETF. But if we compare Malaysia gold etf to US gold ETF, US gold ETF > Malaysia gold ETF.

Avoid heliogold as annual fees is too pricey. 2%p.a

Already said no. Please read few post back.

No. 2% annual fees is pretty high. Avoid. Just spend some time open the recommended brokerage and buy US Gold ETF SPDR Gold ETF. Since it doesn't have dividends, then there's no dividend tax by US govt.

The buy and sell price of gold is set by public bank. The difference between the buy and sell price is the spread. For eg.
Buying price is RM100, selling price RM90. This is effectively 10% spread. Which means after buying the gold, you need for it to rise > 10% just to profit.

So whatever the price of world gold is (whether up or down) the spread set by banks will eg be 10% more. So for me g, price of world gold went up by 10%, you should be able to sell the gold at RM110 but because the price is set by the bank, the selling price is say RM100. Did you make a profit even though price of gold went up by 10? Make it harder for you to make money but easier for banks to make money from you. Why is that so? When you already buy from bank, you already rugi 10%. Don't believe me, count the spread yourself.

Now compare that with SPDR Gold ETF index. The price you see is the price you buy and sell. For example you buy at USD100. Now the price goes up to USD110. You can buy some more at USD110 or sell your gold at USD110.

This post has been edited by Ramjade: Sep 5 2018, 08:27 AM

That's just an example. Not necessarily 10%. To know how much spread banks make from you buying their gold just take their buy and sell price and calculate yourself the difference.

How to know one is which? The higher price is usually what banks will charge you when you are buying from them. The lower price is usually what banks will pay you for your gold.

As of 5/9/2018 8am
Selling price 163.4900 (the price banks sell to you)
Buying price 157.1600 (the price banks buy from you)

There you go. The spread is 3.871%

Now compare with UOB as of 4/9/2018 3.15pm
Selling price 161.40
Buying price 157.30

Spread from UOB is only 2.54%

This post has been edited by Ramjade: Sep 5 2018, 08:50 AM

Not worth. Spread too large. UOB offer better rates.
Best is SPDR GLD with very min spread.

Check out spdr gld etf. You can even buy fractional shares.

This post has been edited by Ramjade: May 5 2023, 04:11 PM

That's why dont bother buying physical gold. Buy spdr gold etf.