Usually they buy lower. Like 30% . Unless your gold u bought super low.

Not desperate to sell them, just finding best alternative to dispose them and switch to other type of investment or just go holiday with the proceeds. Like mentioned earlier, those were gifts from so many years ago, just fed up with its upkeep in bank’s storage

Maybe this notion can help TS...

Years ago I used to bring metal samples for assay by cupellation/XRF at FEDMAS. I met some gold buyers there who offered slightly higher prices for native gold/scrap gold.

I think FEDMAS has ceased operations now, but maybe if TS has the time, it could be worthwhile to pop into another assayer's office (eg Ace Assay Sdn Bhd) and ask around for leads to such buyers.

Gold Jewelry is easier to trade in thai, too bad they doesnt really want 916 gold. Just walk in any gold shop and they gladly exchange for your gold for cash. The rate for taking in the gold is show at front signage as well.

You got ask Tomei or Habib mou....

UOB is not always the case, the would like the cert/receipt for PAMP gold, they won't buy in outside even if it is PAMP.
Maybank I don't know, but since you are buy/selling that from Maybank anyway, why not just open a gold account like I said.

As for TS case for gold jewelry, he is in tough luck, all Malaysia gold jewellers are gang together, you'll never get a fair price unlike other countries.

My advise is don't buy physical gold.

Not true, only gold bar sellers buy and sell them, and sometimes they can say they don't want to receive them.

If you guys don't believe me, you can call gold bar sellers in Malaysia.
Ask them "I have x and x amount of gold bar for sell, what price you can give me?"
Maybe only 1 or 2 out of 10 willing to buy back.
They will give all sorts of excuse.
Gold market in Malaysia is outright skewed towards the merchant, I got it once and I won't recommend physical gold, bar or jewelry to anyone as an investment.

This post has been edited by Angelic Layer: Feb 21 2020, 02:29 PM

Yes you are right. Uob will only buy back the gold that you bought from them. Means with UOB receipt. Same with kijang from maybank. They are not gold trader but this is just an additional service.
Also as far as I am concern there is no cert for the gold.

This post has been edited by takadanicklagi: Feb 21 2020, 02:36 PM

u got resit?

if no resit then expected 50% drop

I can sell bullions any where.

Really, give me the name or phone number of seller, ask them can sell or not.

holiday with virus.

Maybank takes kijang.
UOB takes Aus nuggets, Roos, Pamp, etc

Like I said, they only take their own.
UOB only take their own PAMP with their own receipt.

You cannot sell bullion anywhere.

They only take if....u bought from them.

https://www.silverbullion.com.my/Sell

Idk much bout pawn shop. but ar rahnu is like they keep ur jewelleries, then they give u money in cash based on current gold price, after that u need to pay evry month for their keeping service.

Yes, they say so, but have you really sell gold bars or bullions before?
I have.
Simple, you just telephone them say you have a certain amount for sale, how many will they receive, just try.
I could have called like 10 sellers back when I hold PAMP bars but only mysmartgold willing to buy them.

Yup, I tend to agree with you on this. Ppl always said gold is a good investment esp the older generations but since they never try to sell them they don’t get it when I said it’s a dead investment. Buying and selling already you make losses, wanting to find a buyer also difficult plus having to pay for storage also costs you money. So nowadays I also don’t wanna give gold to newlywed family members. Just give them cash.