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 Gold Investment Corner V8, All About Gold

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aaronpang
post Feb 13 2017, 01:55 PM

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QUOTE(wengherng @ Feb 8 2017, 12:46 AM)
Yes, only limited branches currently.
Good for you then. You obviously know the industry much better than I do, where to buy and sell.
I am only speaking from a layman point of view, where we buy and sell from goldsmith/jeweler shops like Poh Kong, etc.
They made it very clear to me that if the gold piece is removed from the plastic casing and there are any damages/scratches on the gold itself, there would be a certain percentage taken off from the listed buy price.
Several different shops gave me the same caution.
*
Depends if there's deep gauges or chips, buyers might knock down the price because it weighs less.
Troublesome to resell open packages, others might not want open package due to tampering fears.

There's fake PAMP bars floating so it's understandable buyers don't want to go through the trouble.

QUOTE(zamans98 @ Feb 8 2017, 02:17 AM)
Those leeches just wanna earn fast bucks.  I never trade with leeches.

Gold is gold,  in the case of jewellery,  u can liquidate it and remake into new piece.  24K is rare jewellery,  as it can break easily.

For gold bar,  there are few reputable company that buy it,  even it's already open case,  as long u supply the certificate.

Stay away from Poh Kong and bastards.
*
Agree stay away from Goldsmith shops Pong Kong etc kutuk consumers bloody high spread tongue.gif
aaronpang
post Feb 14 2017, 03:07 PM

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QUOTE(wengherng @ Feb 8 2017, 11:34 PM)
I agree with you there!  biggrin.gif
By the way, if you don't mind sharing, how do you store your gold, since you mentioned that you sold more than 5kg last year itself?
You store it yourself in a vault? Or at a bank?
*
Storage depends on individual and the risk they're willing to take.

My friend store at home + pays premium for insurance + chubb safe (100 KG monster) bangwall.gif
*although these days safe is empty - converted everything to USD last year and move money overseas.

There's safe deposit boxes example http://www.mysafebox.com.my/
FYI not all safe deposit boxes cover losses if stuff goes missing ie: Citibank.

https://www.citibank.com.my/english/docs/pd...sit-Box_TNC.pdf
The Bank has no obligation to insure the contents of the Box but in event the Bank arranges any
insurance, the premium and all other costs incurred will be borne by the Licensee. The Licensee is
advised to take out his own insurance cover for loss exceeding RM10,000 or other amount as the
Bank specifies in paragraph 14 below.

Some sellers can store your gold for small fee. Again caveat sellers might not cover losses or guarantee return of your gold.
Genneva gold was case in point, all gold kept for customers got impounded by BNM bye.gif
http://www.thestar.com.my/opinion/letters/...to-be-returned/

If it's small stash of gold keep at home nothing will happen.

This post has been edited by aaronpang: Feb 14 2017, 03:09 PM
aaronpang
post Feb 15 2017, 12:05 PM

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QUOTE(wengherng @ Feb 14 2017, 11:53 PM)
Looking at the exchange rates now, your friend would have made a hell of a profit by now.
Thanks for sharing. Yes the reason why I am paranoid about storing physical gold is because even if you store it with a bank, they may not be fully insured to cover your losses in the event of theft/robbery.
*
Yup he made profit from the exchange rate. Other reasons for liquidating was preemptive.

BNM announced new rules in Dec forcing businesses to convert profits earned in foreign currencies like USD back to MYR.

Read more about it here:-
http://www.nst.com.my/news/2016/12/194775/...inggit-analysts

When business wants to trade with foreign companies again convert MYR back to USD rolleyes.gif

Suffer loss due to multiple conversion & forex risk - USD to MYR then back to USD.

BNM's idea to increase demand for MYR, is causing capital flight from country moneyflies.gif moneyflies.gif moneyflies.gif



This post has been edited by aaronpang: Feb 15 2017, 12:17 PM
aaronpang
post Feb 15 2017, 12:51 PM

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QUOTE(zodd @ Feb 15 2017, 08:37 AM)
There are buyers and they like to keep under radar.
*
Speaking of keeping things under the radar. Gold is a favorite means of concealing and moving illicit money.

Every time MACC raid confirm sure got gold involved hmm.gif

Sauce emas:- http://www.straitstimes.com/asia/gold-cash...r-alleged-graft

PETALING JAYA • Gold bars and cash worth RM3 million ($965,000) in total were seized by the Malaysian Anti-Corruption Commission (Macc) after it nabbed the secretary-general of the Rural and Regional Development Ministry for alleged graft.

Datuk Mohd Arif Ab Rahman, 59, was picked up at about 8am yesterday, reported The Star Online news site. He was arrested at his house in the Klang Valley suburb of Subang Jaya. He is suspected of abusing his power and position since 2010 to solicit bribes.


Sauce emas:- http://www.malaysia-today.net/gold-bars-an...stoms-officers/

The Star) – PUTRAJAYA: Gold bars and bags of cash containing up to RM600,000 have been discovered in the homes of several Customs officers during raids by the Malaysian Anti-Corruption Commission (MACC).



aaronpang
post Jun 15 2020, 12:20 AM

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Purchased 1oz x 3 and 1/4oz x 2 from Maybank KL Main this week.
No problems getting stock of Kijang emas, simply walkin and buy.

Attached Image

Dunno about other locations KL confirm got Kijang.


aaronpang
post Jun 15 2020, 11:46 AM

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I prefer Kijang vs bullion in assay card. Owners can handle their Kijang.
Opening assay card damages the premium and buyback eligibility.

Attached Image

Kijang allows for non-destructive tests without damaging premium/buyback.

Sharing video of https://www.cbc.ca/news/canada/ottawa/fake-...-mint-1.4368801



This post has been edited by aaronpang: Jun 15 2020, 01:13 PM
aaronpang
post Jun 15 2020, 11:14 PM

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Tot of getting one its convenient but for individual like myself cost is prohibitive.
Cost likely a reason jewelers don't have them in stores either.

Plus electromagnetic testers are not 100%, same is true for XRF scanners.

False positive https://www.youtube.com/watch?v=vl596xr8blg

Assay cards only serve to duplicate information already on the gold.
IE brand, weight, purity and serial if applicable.

Force to use expensive tester to verify without opening assay card sweat.gif is a major downside.

Gimme a Kijang emas any-day thumbsup.gif

edit: If there's different opinion I can respect that.

This post has been edited by aaronpang: Jun 16 2020, 10:16 AM
aaronpang
post Jun 16 2020, 10:46 AM

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Sharing for knowledge here's a cost of PMV

https://sigmametalytics.com/purchase/order-original-pmv.html

At time of publishing a complete kit costs 889 United States Dollar equals 3,793.81 Malaysian Ringgit

Attached Image







aaronpang
post Jun 18 2020, 09:56 AM

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Current gold news since we're on topic of replica and fake gold.

Two arrested over scam involving sale of fake gold bars on Carousell[U]

» Click to show Spoiler - click again to hide... «


Easy to to purchase replica bullion from Alibaba and resell to ignorant buyers.
There are many sellers and types of bullion on offer.

Attached Image

Has anyone come across a replica Kijang?
I'd like to examine one and share with fellow numismatics for counterfeit detection purposes.
Heard rumors replica Kijang exist but have yet to see a confirmed sighting.

Example http://dniewcollectors.blogspot.com/2012/0...t-us-trade.html

This post has been edited by aaronpang: Jun 18 2020, 10:03 AM
aaronpang
post Jul 3 2020, 02:24 PM

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QUOTE(freezingsea @ Jul 3 2020, 01:11 PM)
Guys. Just a quick question, in light of the recent fake gold in China

I bought some kijang emas gold coin directly from Maybank

Were there any case where Maybank sold fake kijang emas before ?
*
After purchase now only ask.
Kijang per my numis contacts have been faked brows.gif

50cen got counterfeit coins... 10sen and 20sen are also heavily counterfeited.
Suggest to sell off Kijang before getting burned tongue.gif

QUOTE(MNet @ Jul 3 2020, 01:50 PM)
No. the gold kijang is legit as it got cert
*
Kijang does not come with cert at point of purchase.
Maple, Panda, Eagles and Kangaroo also don't come with cert.

Anyway if someone is capable of counterfeiting minted coins a piece of paper they cannot fake? rolleyes.gif
aaronpang
post Jul 3 2020, 02:30 PM

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QUOTE(freezingsea @ Jul 3 2020, 02:02 PM)
I see laugh.gif ok that's a relief to know
Thanks
*
Did you get a cert from maybank?

Learn how to use calipers, scale and maybe specific gravity test.

Fake 50sen demonstrated by Uncle Dickson Niew

https://youtu.be/83Mb4S2XyRI

This post has been edited by aaronpang: Jul 3 2020, 02:32 PM
aaronpang
post Jul 5 2020, 01:04 AM

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QUOTE(hengger @ Jul 4 2020, 03:08 PM)
I know that. but now the different is getting much wider.
*
Firstly need to determine whats the appeal if you dont hold physical gold.

Most ppl hold physical gold as a hedge against banking system collapse.
Since etf and other form of paper gold are part of the same banking system it begs the question what are you trying to achieve.

The gap is widening because demands for physical gold is high and supply limited.
Gold dealers limiting quantity customers can purchase and hiking premiums, the demand is real.

Paper gold marketplace however is oddly seperated from demand and supply of physical gold.
Bankers like to tell investors its backed by real gold in vaults while gold supply is having shortage.

This post has been edited by aaronpang: Jul 5 2020, 01:48 AM
aaronpang
post Jul 9 2020, 09:49 PM

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QUOTE(cempedaklife @ Jul 9 2020, 09:15 PM)
Lol. Just when im thinking to look seriously into precious metal.
*
Buying when gold price is high sucks.

Possible to wait for prices to drop and go in.
Example 4th to 10th Jun there was a dip and managed to get some Kijang.

Anyway if plan to hold long term, then anytime is a good time.

Alternatively if your'e into physical gold, try searching second hand market place eBay, FB or LYN Garage.
Managed to snag couple of deals occasionally.

This post has been edited by aaronpang: Jul 9 2020, 10:23 PM
aaronpang
post Jul 10 2020, 03:44 PM

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QUOTE(prophetjul @ Jul 10 2020, 08:53 AM)
Buying anything at high prices sucks!   laugh.gif

But people are only attracted at high prices!   laugh.gif
*
So true biggrin.gif

QUOTE(Malaysian Psycho @ Jul 10 2020, 11:52 AM)
Is hellogold a good place to buy gold?
*
Maybe checkout the HelloGold thread
https://forum.lowyat.net/topic/4277147

HelloGold help site
https://help.hellogold.com/en/category/about-hellogold/

Personally HelloGold is not for me.
1) Prefer to physically hold bullion.
2) HelloGold pricing structure makes determining simple break-even and profit a headache.

Example purchasing 1oz Kijang.

Purchased on 10/Jun/2020 for 1oz is RM7773
Spread is 4%

Break-even point RM7773 + 4% = RM8083.92
Today 10/Jul/2020 1oz Kijang selling price is RM8166.

1oz Kijang break-even and RM82.08 simple profit.

HelloGold buying/selling fees, transaction fees and whatnot charges... dry.gif good luck keeping track of right time to buy and sell rclxub.gif

This post has been edited by aaronpang: Jul 10 2020, 05:40 PM
aaronpang
post Jul 23 2020, 04:34 PM

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Excitement can really hurt people... tongue.gif

Hahahaha rclxs0.gif

Just saying people who see the news get excited and jump in to buy silver and gold. Be careful ya hmm.gif

The all time high prices makes it difficult to grow my stack.

This post has been edited by aaronpang: Jul 23 2020, 04:36 PM
aaronpang
post Jul 24 2020, 04:09 PM

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QUOTE(samjet @ Jul 24 2020, 01:49 PM)
I bought 999 pamp gold bar at 169/gram 5 years ago
Hope to sell it at its peak price before it goes back to < rm200/g again
Is it a good time to sell?
*
Buy or sell is up to you coz we don't know your financial objectives/situation.

If you need the cash, now's a good time to cash out.
Already made money thumbsup.gif

No one is sure how this will turn out, waiting is a gamble essentially.

Usually I tell friends don't be greedy, if already made money cash-out.
Attached Image

edit: I'm saving up for pension, atm not in selling mode.

This post has been edited by aaronpang: Jul 24 2020, 04:29 PM
aaronpang
post Jul 28 2020, 06:04 PM

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QUOTE(hybr1d3d @ Jul 28 2020, 11:29 AM)
Is it too late now to buy gold?
*
Wait for correction and then make your move biggrin.gif

It's coming when price is high some will profit take.

This post has been edited by aaronpang: Jul 28 2020, 06:06 PM
aaronpang
post Jul 28 2020, 06:41 PM

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QUOTE(GrumpyNooby @ Jul 28 2020, 06:05 PM)
What is the reasonable retraction level to go in?
*
For me if gold drop by about US100 I'll hop in... and pickup another Kijang.

Or if gold price hits US2000 there's a couple of .999 non-bullion gold proof coins I'm eyeing.

That's me and disclaimer what I say should not be taken as financial advice biggrin.gif

This post has been edited by aaronpang: Jul 28 2020, 09:50 PM
aaronpang
post Aug 3 2020, 01:37 PM

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Yikes looks like China is trying to prevent a gold rush at the banks.

SHANGHAI: Chinese regulators and major banks are rushing to curb precious metal trading by domestic investors to temper speculation that some fear could cause a repeat of this year's oil trading mishaps.

The scramble to limit risks comes as gold prices hit record highs this week, spurred by investors hunting for safe haven assets in markets rattled by worries of rising coronavirus cases, lofty equity valuations and a falling U.S. dollar.

A deepening rift between the United States and China has also become a factor drawing mainland investors to gold.

Industrial and Commercial Bank of China (ICBC), the country's biggest lender, said on Wednesday it would bar its clients from opening new trading positions for platinum, palladium and index products linked to precious metal from Friday. That directive, according to the lender's customer service department, was in response to "violent price volatility" and "the need to control risks."

» Click to show Spoiler - click again to hide... «


Full article here

This post has been edited by aaronpang: Aug 3 2020, 01:37 PM
aaronpang
post Aug 14 2020, 10:31 AM

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QUOTE(Sum Ting Wong @ Aug 13 2020, 07:52 PM)
should hold or sell?
that is the question.. tongue.gif
*
Right now either hold or buy.
Actually now is the time to buy cautiously.


This post has been edited by aaronpang: Aug 14 2020, 10:34 AM

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