Up trend now due to market volatilities, some ppl moving cash to gold...

I think there are errors in your statement above;

You only start buying Gold when DXY is weakening and sell when DXY is strengthening.

Usually DXY is used instead of USD to gauge the strength of USD with comparison to a basket of currencies.

Market dropped on the year 2008/9 (GF recession) and 2020 (Feb/March?) which you made your purchase. When market goes into recession, every asset class including gold will drop.

Yes, agreed buy low sell high is always good regardless of market conditions so long as you are in the green.

Perhaps, but there is always a strong inverse relationship between DXY and gold

Of course every assets is price in USD.

USD, like any other currencies fluctuates, so how do you really judge its strength? Hence the use of DXY.

There is nothing complicated about using DXY as this is an index where data is readily available in any trading platforms if you are not already aware.

'You only start buying Gold when DXY is weakening and sell when DXY is strengthening'

This DXY is just one of many indicators which you could use if you want to look for entry and exit of gold investing, just to keep it simple.

Ok, I can see that you are judging the strength of USD w.r.t to MYR... let's leave this here as you seemed very fixated on this perspective, whether it's correct or not, it's your money on the table, not mine.

Anyway, just sharing my thoughts

Can buy and consider holding the gold in their vault storage, with fees of course.

Do you have any good safe/vault storage companies here in Msia which you recommend, which you find fees competitive? Not those located in malls/office buildings/banks.

No, not keen on safe deposits located in banks, because no full access except during banking hours. Same goes to the ones located in malls or office buildings.

If secret safe is accidentally revealed or exposed, how is this safe? Just need a knife on your throat or family members to make you open it (I need to use your trademark head slapping icon here, which is very applicable )

Longer access hours and ease of retrieval

Safe at home

I have bought and stored in their vault without taking delivery previously. Later sold off as the price of gold then didn't move much, some more need to factor in the storage cost

They are legit, transaction can be carried out online easily.

Because there is counterparty risk; i.e. there is the likelihood that the parties involved in a financial transaction might default on their contractual obligations.

To reduce this risk, only invest in gold ETFs which allow you to take physical delivery of the gold if you are still keen on these. Also there is no guarantee if they have enough physical gold for you to take delivery in case when every investor is rushing to redeem. These ETFs are also located overseas, so shipping/insurance costs need to be taken into consideration

This post has been edited by markedestiny: Jul 19 2024, 02:35 PM