I'm wondering this time around the gold price doesn't go up when the inflation rate is sky rocketing all over the world.

While I understand US is raising its interest rate, but that doesn't mean that fiat currency value is also appreciating at the same rate as the inflation, right?

So precious metal like Gold price should be going up in time like this but it isn't.

I'm aware physical gold would be slightly higher than paper gold, but I couldn't quite understand the logic that the gold price (regardless it's paper or physical gold) is getting lower with the economy that we are in now.

I remember Yen used to be also a safe heaven currency and Yen is also going under.
Bond pun not doing well at current state.
Bitcoin, I'm a bit skeptical and reserve on this since it's digital.

Other than these, can you advice where else to park funds? Properties?

I have done a few surveys and so far I have seen this company (https://msgold.com.my) has one of the best price for gold bar in Malaysia, but I have not bought any from this company. Anyone has experience with this company?

Other shops that I have bought gold coins/bars so far are:

https://www.silverbullion.com.my/
https://www.buysilvermalaysia.com/
https://www.litz.store/ (from shopee/Lazada)

Wah Chan, Poh Kong gold nugget price is ridiculously high, so I've never bought gold coin/bar from these retail shop.

Would you mind also share the places that you bought your gold coins/bars locally?
I don't get to travel out from Malaysia too often so no chance to survey oversea market/shops.

Thanks.

Edited: Oh ya, I also noticed some pawn shop sells gold as well, but mostly gold jewelries, not sure about gold bar/coins. Is pawn shop a good place to buy gold (999) as well?

This post has been edited by Sitting Duck: Jun 1 2023, 04:09 PM

Thanks for the advice.

Talking about the authenticity of the gold coin/bar purchased, is there any shop that offers authentication service at a reasonable price?

What I've been doing for the past years is that I've been referring to the site below as a benchmark for selling price.
I think Shops like Poh Kong , Wah Chan would buy the gold at a slightly lower price.
I don't think these well known gold smith shops would list buy/sell price online. I've seen many advertisement in facebook with sell price/free workmanship fee but when you reach the shop, the price is usually not the same and lots of excuses about workmanship fee.

https://www.silverbullion.com.my/Sell
or
https://publicgold.com.my/ (there's a section for non-PG gold buyback)



I'm a big fan of physical gold instead of paper gold. Been buying little bit every month. Check out sellers in Shopee (please make sure you buy from reputable sellers). I find Shopee price is much wallet friendly than Lazada due to the generous voucher Shopee is giving out.
At the end of the day, go for the lowest price/g and not the brand but make sure from reputable seller.

Disclaimer: I'm not a license financial advisor nor a seller in Shopee/Lazada. Above is not a financial advise. I'm just an old man that like pretty shining thing.

This post has been edited by Sitting Duck: Nov 27 2023, 07:15 PM

When I buy gold from Shopee/Lazada , the item would be delivered by the delivery company (Ninja/J&T).
So far all the gold i purchased from Lazada/Shopee are received without any issue but then again I always have someone at home to receive the parcel. I take a video when opening the parcel, just in case I need to file a case for dispute if there's issue with the parcel.

When buying from Silver Bullion/buysilvermalaysia, I always go to their office to collect the item.

I know there are risks but I have limited funds so I look for the most cost effective way to purchase physical gold with reputable seller/brand.

So far I've bought these online:

1. PAMP gold bar and verified with veriscan (passed for all the gold bars I've purchased online)

2. Habib gold bar with official receipt from Habib. Habib gold bar has serial number carft into the gold bar even for the 1g gold bar.

3. Masdora. This is a new 1 which I started buying a few months ago. Only official receipt. No serial number crafted on the gold bar but serial number on packaging (which can be easily imitated). Nevertheless Masdora has been selling like hot cakes in Tiktok and other platforms. I've heard no complain so far about this brand so far.

4. Gold bean from some Gold smith shop. 1g only cause I just want to see how the gold bean looks like. Besides that it comes with a cute little bottle to store the gold bean and Shopee was giving RM30 voucher. Couldn't resist. This is likely my last purchase of gold bean since I have doubt about the purity of the gold even though there's a 999 written in the bean. On top of that, the weight of the bean was fluctuating between 0.99g to 1g on the weighting scale (maybe my scale problem). So a bit doubtful. Just a one off experience.

Offline I've bought Canadian Maple coins from Silver Bullion. You can ask them to use the machine to test the coin before making payment on the spot (online transfer).

Just sharing only. Choose which ever way one is most comfortable purchasing and most importantly is able to get a good night sleep after purchasing and don't have to worry/guessing about the purchase.

Oh ya, I recently got to know besides Maybank, UOB, Affin bank sells physical gold as well.
I heard the physical bullion price offered by Affin / UOB is quite competitive with the market price. If anyone has experience with purchasing gold from Affin or UOB, please share. Thanks.

This post has been edited by Sitting Duck: Nov 28 2023, 03:23 PM

Many thanks for sharing.

Do you mind sharing:
1. How was the price buying from UOB compare to Silver Bullion? Is it comparable or a lot more expensive than Silver Bullion?
2. Can walk in to purchase or do we need to go through relationship manager? Not everyone has relationship manager.

I do not like to buy paper gold from bank because the sell/buy value is determine by bank. In the event if the bank is going under , they can set whatever price they want for the gold although very unlikely it may happen since bank reputation would be badly hit if they do that. On top of that since paper gold is considered investment, so there's no PIDM protection. So when the bank go under, basically paper gold becomes paper only.
Gold ETF in my opinion probably a better way since the price would be determined by market.

I prefer physical gold purely because I have something to hold, gold coins/bars are pretty , and I can bring physical gold easily if I need to run away / go into hiding in very short notice (I think I watched too much movies)

The down side of physical gold is storing the gold (fear of burglary ), price /spread is higher than paper gold/ETF.

i avoid gold jewelries unless the gold jewelries are to be wore. The workmanship is just not worth it if the jewelries are kept in the safe or fixed deposit box 99% of the time.

When I was there, the guy at the Silver Bullion office was really friendly and shared alot of information about gold. He recommends gold nugget (50g/100g) ones because the price/g was lower which I totally agreed with him. He even shown me a fake PAMP gold bar

However I just didn't like the design of the gold nugget and would prefer to pay slightly more to get gold bars and coins.

This post has been edited by Sitting Duck: Nov 30 2023, 01:31 PM

Try also

1. https://www.silverbullion.com.my/Sell (office in KL, Johor and Penang)
2. https://msgold.com.my/ (Jalan Klang Lama)

Please do share your experience of selling physical gold after you have done so.

Do you mind explaining why long term 1g gold bar and short term 1g gold bean?

Is it 1g gold bean is cheaper than 1g gold bar so it takes shorter time to be profitable?

Mind to share the shop that you are getting the gold bean?

Thanks.

I've been buying 1g Habib gold bar, but some claim that Habib gold bar isn't pure compare to Poh Kong.
However I don't quite understand it since 1g Habib gold bar is 999.9, same as Poh Kong, why would people claim Habib gold bar isn't pure?

Poh Kong Gold is at least 20-30% higher than Habib. I was advice to always buy the cheapest 999.9 gold bar that you can find, best if get 2nd hand gold bar if can find a trusted seller, cause 2nd hand gold bar is usually slightly cheaper than brand new gold bar.

One can purchase 1g gold bar in Shopee that's close to the market price of 50g or sometimes even 100g gold bar if you buy it at the right time and stacking it with voucher.

I've been buying a couple of gold bean from Seng Fong & You Loong from Shopee.
I've not sold any of the gold bean so far that I've purchased.
Have you sold any of the gold bean you have purchased so far?

Thank you for sharing the place that you have monitoring the buyback price. I've always been monitoring the buy back price from msgold even though I've not sold any gold to ms gold.

Do you know the buy back price advertised by Razak Jewerly is the buy back price for their gold from their own shop, or they accept gold from other shops at the same by back price advertised in their website?

So MS Gold follows the buy back price from their website but round down the amount. Still not bad in my opinion. Much better than some other Tiktok gold buyers and Jewelry retail shops.

I don't see any point selling gold to retail shops like Habib / Poh Kong / Wah Chan with exception for Poh Kong bunga raya whereby the bunga raya gold is over inflated but the Poh Kong buy back price for bunga raya is higher than other gold buyer (e.g: MS Gold)

I still don't quite understand till today why many people are buying Poh Kong gold apart that it has 1 app that check the gold certificate with QR code.

I do have similar experience on gold bean , getting 0.98g - 0.99g. I tell myself it's because of the wind.

I hope you were able to get a refund on the gold bean that have not sent you. I hope I never have to go through that ordeal.

Nice. Thanks for sharing your experience on selling of gold beans.
The ringgit strengthening has indeed take a hit on gold price for Malaysian.

fx rate 3.90MYR? Wow..

This post has been edited by Sitting Duck: Sep 2 2024, 05:27 PM

When do you think it may hit $3000 ounce, by end of 2025?

Despite gold at ATH, the price of gold in RM did not gain much, in fact dropped a bit due to stronger RM.

Not sure whether it's a good or bad thing.

While a strong RM is good for business (not sure , not business man) and for those travelling overseas,
I'm not sure whether benefits of a strong RM would felt by ordinary folks like myself.

I don't think the price of import goods would go down, and the Maggie Goreng, Roti Kosong, Nasi Lemak, Nasi Ayam would go down at all.

I'm not against a stronger RM, I'm just thinking how to benefit from strong RM.

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

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