QUOTE(Joshua_ambrose @ Mar 21 2020, 08:24 PM)
.....
Your Scenario : -
Closing gold price on 21st Dec 2018 = RM171.65
Assumption is that price did not change
If he bought RM10,000 worth of gold that that point and stored it with us for 15 months and decided to sell it today, assuming today is a week day, after deducting all cost, he would be able to sell all his gold for Rm9,479.51+-
.........
so your posted breakeven % is 5.2049% as worked out by MUM below post....
thus the rate you provided is the "OLD" rate and not the "New Rate"
QUOTE(MUM @ Mar 21 2020, 08:31 PM)
.......
"Assumption is that price did not change
If he bought RM10,000 worth of gold that that point and stored it with us for 15 months and decided to sell it today, assuming today is a week day, after deducting all cost, he would be able to sell all his gold for Rm9,479.51+-"
so RM10000 - 9479.51 = 520.49 = 5.2049%
........
but as per siewty is was 11.2372%
QUOTE(siewty @ Mar 21 2020, 10:32 PM)
After reading, they seems tried to confuse us and also assume GOLD will going higher and never drop.
Anyway, here is the formula I build to calculate your scenario if the GOLD retain same price for next 15 months
OLD RATE IS 0.79% BUY, 2% Maintenance, 2% SELL
NEW RATE IS 5.79% BUY, 2% Maintenance, 2%+0.3% SELL
Old rate you will risk losing 5.2334%, if the price remain same
New rate you will risk even more 11.2372%, if the price remain same
thus the NEW RATE as posted by siewty of 5.79% is valid (until further notice and be subjected to changes be it up/down...as per why the premium was introduced as per your link)
QUOTE(Joshua_ambrose @ Mar 21 2020, 11:08 PM)
...........
As for the 'new rate', I believe that I had explained why the premium that was introduced. You can find details of why the premium was introduced
here*FYI, there is no premium for selling gold.
...........
thus this is correct then?,
Old rate you will risk losing 5.2334%, if the price remain same
New rate you will risk even more 11.2372%, if the price remain same
not counting the reason for the increase (may it be temporarily and/or subjected to further changes) as per your link....
This post has been edited by yklooi: Mar 23 2020, 11:58 AM