Got a bunch of gold jewellery I wanna get rid off. Went to Poh Kong but they do not give cash but trade in only. Saw some websites such as silverbullion, ms gold bullion trading physical gold. Any ktards deal with these companies before?

Wait a bit.
Price is going up daily.
Already up rm100 in 2 days.

Bad luck.
Gold bullion seller sometimes can say they overstock and don't want to receive, that's why I always tell people not to buy physical gold.
Last time I have good experience with mysmartgold, but I don't think they will buy jewelry.
Poh Kong guys sure will potong kaw kaw one.

COT commercials net short, if got cash in futures I tell people to buy wheat, soybean or in Malaysia case palm oil at the moment.

pawn shops

Those gold were given during wedding and I just kept them in storage for years. Now maybe a good time to sell since its on the high side. How does those pajak gadai work? I'd rather use the money to travel or put in Bursa. So troublesome to keep physical gold. Even Warren buffet also said gold the worst investment.

PM pic and cert to me. Kot kot nak beli. Huehuehue

TBH, the gold is worst investment is quite true. Cos buy we buy, sell time we beg people buy. No connection want to sell also hard, got connection also worthless. Mineral investment are really sucked right now, especially when we're gutted and forced to accept outsider's offer and not ours.

Now, I rather sell rented room on daily basis. The cash that come back is quite profitable, especially when there's many people wanted to piap but nowhere to piap.

In Japan gold bar is still hot, and there is 10% tax, so smuggling gold became profitable.

poo kong is just bad.
and yea, selling physical gold is hard.
only good when shit hits the fan kind of situation.

because they know yen is toilet paper.

>trusting shit tycoons say
lel, he probably hoards gold.
buying gold is a preservation of wealth.

That's why I don't understand why ppl like to give gold as dowry/presents. So troublesome to keep. Wear also don't wear some more have to pay money to keep them in banks storage. My policy now is to give stocks as full moon presents to my children when they have newborns. Up to the parents to managed them, keep until 18-20 years to be used as education funds when the need arises. But only blue chips with dividends.

Now prices of bluechips down and gold is up. Thot its a good time to dispose those gold.

My PA’s sister do this business. Trading gold jewelleries.. but it’s like personal business, no actual shop(online).

I have no idea if these guys are trustworthy, but seems like they buy gold and prices are quite ok.

https://www.ezycashgoldbuyer.com/

If you buy gold from Maybank. The kijang emas.

Selling back shouldn't be an issue right ? Just asking cause I bought some , plan to sell it when gold reaches 2000

Maybe can try publicgold.com.my ?

Might as well open gold account with maybank, it isn't secure from theft as well.

Prefer physical gold.

Safety aside, if I want to sell back to them the gold I bought, it shouldn't be an issue right ?

i sold mine at jln tar
another back to maybank cost got ppwk

Not entirely true. U can get from banks and they will buy back for sure.

Like uob or maybank. Their spread also relatively lower.


Poh Jong will be at least 30 lower than market value.

keep it till the very last minute only sell
thats wat my koleg tell me....wait till rm go down the drain..then gold will be master race currentcy

This post has been edited by pundi: Feb 21 2020, 07:28 AM

Keep first. Price is going to increase 50% in the next 18 months, will quadruple in the next 6 years.

Ts location mana ?

Curi issit?

Roughly whats the weight? 916? 999? Price differs everyday.

The collect the gold price < 75% of market price.

pos malaysia, ar rahnu, pawn shop, public gold

jes keep bro. gold is one of best conductor metals use in electonics. wif demand increase prices will sure naik.

n if kena apocalypse ppl will value gold more than notes.

ayam dun hav gold.

i also dun have.till recently got 1 auntie gib me through my mother.and i dont even know which auntie is it.so just keep.scared kena ragut.

Thanks for all your feedbacks. Will look into them. Those gold has been kept for nearly 30 years long so the value has gone up many folds. The gold coins such as Canadian maple is easy to dispose, its the jewelleries that’s bothersome. Recently took one of the jewelleries to Poh Kong and trade in for their gold bar. Seems with gold bar you can sell it back and get cash but you will lose about 20%. But if you trade in their gold bar, they will give you 100% of its value. So either way your loss is their gains. That’s why am trying to find an alternative way to dispose with more gains than loss.

There’s one in Sri Serdang quite good price. Cash.

Gold bullion is fine. Just not jewellery.

got fb group for jual beli emas thing

Name of the shop? Thanks in advance

Ar Rahnu for better rates, pawn shop if u desperate

This post has been edited by fath82: Feb 21 2020, 12:17 PM

I am very curious how pawn shop system works. You give them your jewelleries, you get cash in return. Then in some near future you want back those gold, hence you buy back from them. So does it mean when u sell u lose 1 round and when u buy back, u lose another round? Is ar rahnu same as pawn shop?

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.

Poh Kong’s gold bar only can sell to them, no other goldsmith will buy them from you. I am not surprised if UOB or MBB also will not buy those PAMP if it’s not from them. So my question is “is there really great value in gold investment”?. If there is then why these gold merchants do not want to buy from you?

Do it in pawn shop. I can recommend the pawn shop if your in KL

Pls do recommend. Tks

I have been buying kijangs from Maybank and Roos, Lamps from UOB since 2002.
No problem selling.

Great investment. 2002 was around RM1200. Now around RM7000.
That is 11% CAGR.
Not too shabby!

This post has been edited by prophetjul: Feb 21 2020, 09:14 PM

i sell b4,at jeweleries

Gold is a good investment elsewhere but not in Malaysia, in Japan there is demand from merchants and private party where you can sell it to plenty of liquid buyers.

In Malaysia no one will buy it from you, gold merchants in Malaysia is skewed and unscrupulous, and make out all the excuse, the gold bar/bullion merchants will give all sort of excuse "cash tied up" etc not to buy back from you.
Pawn shop also cut throat.
Better open gold savings account, guaranteed can convert to cash, safer still from theft.
Don't buy physical gold in Malaysia.

In 2002 there was no gold accounts!

Instead of gold accounts where the spread is big, just use SPDR GOLD.

This post has been edited by prophetjul: Feb 21 2020, 10:08 PM

Not everyone have ETF account, back then I thought that account requirement I might as well go futures which I did.
8.46 per gram (as of today) is expensive but not terrible, around 3.77%

ETF is only brokerage fee.

You open account there is a minimum investment, differs from broker, I think 8k USD back then in 2005 when I start working, not sure now.

Gemsberly Jewellery
No. 67, Jalan SS 19/6, Subang Jaya, Selangor, 47500 Petaling Jaya
Phone: 03-5636 1597


this shop will valued your gold and pay you in cash. price wise is consider good .
no question ask no mykad/passport will be needed wink wink

cheers!

This post has been edited by JimbeamofNRT: Feb 22 2020, 02:47 AM

Tks, now wait and see how far gold price can go up. Good to know options to sell for cash. Will update here if get them sold.

Jalan Pudu next to Pusat Tuition Martin @ Kedai Emas New World.

Hi, you can sell your gold on SK jewellery Malaysia too. Nowadays, if you go pawn shop you feel no face mah. But when u go SK jewellery and sell your gold nobody knows. Others only think that you go buy gold (gt face loh)

https://www.skjewellery.com.my/instant-cash-for-gold/

A certain person here is very anti physical gold and opinionated just because he had 1 bad experience

Just my opinion, feel free to disagree

This post has been edited by lopo90: Nov 23 2020, 05:34 PM

Try merchant9.com .Offer one of d best rate.
They got 2 branch one in ttdi another in lrt damai. Fast and good rate

Or google kedai emas merchant9

This post has been edited by mousepad87: Dec 5 2020, 12:37 AM

OMG, was hoping for an answer but it seems that selling gold with fair price is not easy. Always read from other forum recommending gold as the best investment because price keep rising, but what is the point if we can't even sell at market price.

I got some gold inherited from parent, now not sure where to sell. Keep in safe deposit box with monthly charge haizzz....

Contact dean arif from mybulliontrade. Sold some of my gold last time to him. His prices are very good and his service is top notch.

Much better price than Merchant9

This post has been edited by Mamapapamsia: Jan 14 2021, 04:49 PM

Next time buy public gold bar. Very easy to sell back.

Anyone sells gold back to gold shop like

Poh Kong or Tomei?

may I know how's the procedure? need go the shop? i scare scare bringing my gold bar alone there.

Deffitnetly recomend dean arif from mybulliontrade , service wise top notch

This post has been edited by loiwj91: Feb 16 2024, 03:25 PM

I rather you sell Gold and buy BTC right away.

Gold market cap is already high and upside is limited.

On the other hand, the bull run of the century for BTC is just getting started.

seri petaling here can sell rm275 per gram

This post has been edited by poco loco: Feb 16 2024, 03:38 PM


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Any business trading in physical gold has a high cost. Need to pay for rent, security, staff, insurance, transportation, testing, etc. For sure the margin (spread between buy and sell price) will be substantial. If you're looking to sell physical gold, then you should have more realistic expectations on what you can get when selling it.

4% spread I expect.