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.

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

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

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

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

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

You cannot sell bullion anywhere.

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.

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.

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%

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.