Has anyone heard of the Swiss gold referendum this coming 30th November?If majority say yes, then Swiss National Bank would be acquiring gold up to 20% as their reserves in the next 5 years. We could expect rising gold prices

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 think you're probably right. I haven't keep up with Public Bank's gold account rate for a long time. Their spread is higher now but they used to be lower.

If the spread is lower, you lose as little as possible when you're selling back. For e.g. the bank sells you RM137/g but will only buy at RM132/g from you if you decide to sell them back. The spread here is RM5/g.

Usually, paper gold accounts requires you to have minimum amount of gold to open an account and some charges applies on you if your gold account falls under certain amount of gold e.g. 10g for a specific period (differs from bank to bank). So you have to maintain a certain amount of "gold" in your account. If you want to convert your "gold" to a real physical gold (usually gold bars), the bank will usually impose a certain amount of charge per weight e.g. RM1/g + some processing fees for the conversion.

Also, the bank usually requires you to open a saving account with them to facilitate buying and selling gold with them.

This post has been edited by sinbad2k: Nov 26 2014, 12:38 PM

are u quoting the wrong message post?

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.

This post has been edited by sinbad2k: Nov 26 2014, 03:15 PM

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?

This post has been edited by sinbad2k: Nov 27 2014, 11:21 AM

Paper gold or real physical gold?

If that happens, indeed I am! But, after learning how modern monetary system works, I've more faith in precious metals than in paper assets.

Ok, let's take Maybank for example.

1)You can just go to any Maybank branch that sells Kijang Emas gold coin (they come in 1Oz , 1/2 Oz. and 1/4Oz denomination) and tell them you want to buy Kijang Emas gold coin. They'll need your IC for sale documentation.

2)Then you pay and get your gold coin at the rates on Maybank's Gold & Silver counter rates(see the link below).

3)Then when the gold price is up, you can go back to Maybank(or Ar-Rahnu) and sell them the gold coin. They'll probably require the original receipt if you're selling to Ar-Rahnu(you can ask Maybank staff more on selling the coin), but in any case just keep the receipt.

4)You then get your money at the current price of the coin listed on Maybank's website Maybank Gold & Silver Counter Rates

Here, to find out which branch has Kijang Emas gold coin: Kijang Emas Gold Bullion Coins

For UOB, you'll need to open up a savings account with the bank and it's only available at UOB HQ in KL. But they have Canadian Maple Leafs, Australian Golden Kangaroo Nugget and Singapore Gold Lion coin which is cheaper than Kijang Emas. They also has PAMP gold bars too. Though I've not bought from UOB before, I reckon the buying and selling process will be more or less same as Maybank's.

I'm not sure about other banks' procedure but I found that Maybank's one is pretty straightforward.

this is weird, it was still okay on Tuesday. It wasn't accessible since yesterday. I check their rates everyday.

Get real gold coins/rounds! Easiest way is to buy from Maybank. Just check out Kijang Emas gold coin from Maybank's website

I've Kijang Emas gold coin but I think the Canadian Maple Leaf's design is better.


Smaller sized coins comes with premium because they're easier to liquidate (also bcoz of higher production cost compare to bigger denomination). When you sell it, you get the premium back. If you're looking to invest based on weight/$, gold bars will give you the best worth, but they're more difficult to liquidate compared to coins.

Was thinking of buying from APMEX, but the shipping fee is a turn-off. The minimum shipping fee is USD49.90, so I suppose your uncle bought a lot to make the purchase worth the price?

longer time to break even?you should be buying stocks then, not precious metals...

The gold savings account is ok but the gold bullion price is still down. I can't access it too.

if that's so, why does the Dutch Central bank secretly repatriated their gold?why don't they just sell it off?

You can ask Mr. Google for those numbers if you try. (or you can read the links below). Anyways, here are some of the links for the benefit of others...

http://online.wsj.com/articles/dutch-repat...rves-1416568527

http://www.globalresearch.ca/122-tons-of-g...erlands/5416127

http://www.zerohedge.com/news/2014-11-21/g...ns-gold-new-yor

I'm merely answering your question on "How many and how often central banks or anyone announce their gold bullion movement publicly?" since you initially posted "Given gold is on the downward trend, buying gold in the near future is likely to loss value for a number of years." to which I asked why then the Dutch Central Bank repatriated their gold instead of just selling it off. Why DCB go through the fuss since you said gold is on the downward trend and likely loses its value in coming years?


About your new question, "How will this gold relocating could effect gold price or fiat money?"(out of the blue?I'm not sure why it's linked to my previous post about Dutch central bank gold repatriation), maybe some other member here can give their views on it.

Anyways, in my opinion, from what I understood in short term, that action of repatriating gold from the Fed probably doesn't affect gold prices at all. But the fact that the Dutch did it, the Germans tried, the Swiss initiated a referendum, India, China and Russia stocking gold, it signifies something; they're starting to lose confidence in USD as the world reserve currency. All will still go well, if everyone still have faith in it but with so many USD printed(thru deficit spending), it's losing is value gradually and there will come a time when everyone loses their confidence in it since it's inherently just a piece of paper backed by nothing but the good faith of the US government i.e. the US Government assures you that it's worth something. Because everyone has started to lose faith(because of the currency printing), the USD loses its worth. Everyone will try to ditch USD but there's no world reserve currency to fall back to except for gold. That's when gold would rise.

Any input/comments from other members are welcomed.

I've already mentioned that the act of repatriating gold signifies something, not that it directly affects USD price or any currency. You can't be sure as well that everyone will stick to the USD till the end of the day, however you're entitled to your opinion. There were many instances that countries started to bypass USD in trade (I think sylar111 has mentioned few). Let's not run out from the topic where I originally questioned that "buying gold in the near future is likely to loss value for a number of years". Gold is definitely not a suitable currency tool(I'm not arguing that nor did I brought up the question of gold as currency in the first place!) right now but it has a store of value and possibly multiplies in its value in long term.


So, you're just guessing that they repatriate gold to save on expenses?Doesn't add up. Selling them off without the hassle of arranging the logistics of physical gold transportation from USA to Netherlands will be much easier! I'm not sure if it has any impact on euro and even if it has none, the fact remains that DNB did it. And secretly too.


Check out the Maybank branch that sells Kijang emas on their website. You can sell back to Maybank or any Ar-Rahnu(keep the receipt).

Limiting the money supply and credits is "bad" for the economy according to some ppl because it limits growth and prosperity. But then, this growth and prosperity is built mostly on debt and not because of productivity. It couldn't be denied that the world has witness the greatest prosperity in recorded history of mankind during the last few decades thanks to the current monetary system, but more often than not, it's abused. The debt has to be repay some time in the future by future generations but it's impossible to get out of it because of the sheer amount of debt that's created and also the amount of $$ printed. That's how I understand it.