Tuesday, July 10, 2012

Go for Gold......

Well I am not talking about the near coming Olympic games ....
that our country desperately need to score a first ever gold medal in the Olympic games...
Here I would like to talk about the actual gold....
How often that you all purchase gold?
So far I had purchased 2 times ..
1st - gift for my 1st younger BIL marriage
2nd - gift for my 2nd younger BIL marriage (luckily it is the final one).. lol

That day I read in the newspaper (Star) - Gold price is in the periodic correction....
Gold reached as high US$1,900 last year but had fallen to US$1,600 now....
I was interested on this information and study a bit on the gold commodity...

I discussed with fui fui and ask her opinion on this...
she told me that it is no harm to buy some gold and keep it..
as she know that gold price is lower compare to last year
(hmm she actually keeping an eye on gold price..)

Then another wise person told me ..
gold is precious metal and the quantity is getting lesser and lesser ..
so demand is there and supply is getting lesser day by day ..
and price will be getting higher and higher

I decided to purchase some Gold through Public Bank...
It is so call "Paper Gold" .. and I am not brave enough to keep the 1 tonne gold under my bed...(lol)

Gold Investment Account...

You must have a saving account with the bank and then open a GOLD investment account..
They will give you a passbook .. where it record all your transaction (same as saving account)..
but now you could do online purchase ..
which you bank in the money in your saving and you could purhcase through online...
so save all the hassle to go to the bank to purhcase GOLD..

I would like to share this quote from the article that I read in the Star..
"It is not about how much you have now. It is about how much you want to build now for the future"
Gold investment is not something that you could reap profit in a short period....

There are 2 banks that offer this gold investment - Public Bank and Maybank.
If you interested then you could check out their website.
The minimum qty to open a Gold Investment account = 10gram
(it is about RM1,600 - depend on the Gold price)

Hope this post will benefit you..

Important Remark:
Well all this information do not represent a recommendation to buy and sell.
Please exercise your own judgement or seek professional advise for your own specific investment needs. Simple Person will not be responsible for your investment decision.

62 comments:

  1. Simple Person is a rich man.

    ReplyDelete
    Replies
    1. Yalor... so KAYA!

      Paper gold ka gold bar ka... I tadak! LOL

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    2. yalor, he has got BILLIONS of RM inside his bank account.. the IT department of the bank need to customise their programmes so that they can handle a figure with so many digits~~ :D

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    3. lol ... I save a lot..
      so got some money to invest.. :)

      Delete
  2. Fui fui is so smart. Buying gold to keep for future is very wise investment plan. I reckon. I think of it.

    ReplyDelete
    Replies
    1. SP also smart to listen and ask advice from Fui Fui. ^^

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    2. yalor, SP's fui fui really very smart lah, knows the best way to do financial investments..

      Delete
    3. well don't you heard that listen to wife's advise will be rich?

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  3. my family is in the jewelry business. it is good to have the gold investment account as you are doing it right now. i have maybank. currently the gold and silver price depreciates a bit. but will go up very soon, nevertheless. if you can, it is a good time to deposit in as much as you can, as the price is rather low now. then you reap your rewards a few years later. have to be patient. the longer you wait, the better the returns. :) cheerio :)

    ReplyDelete
    Replies
    1. thanks a lot for the information.
      Yesterday I read the news that Maybank also offer the silver commodity.
      Not so sure about silver and shall chack it out....

      Delete
  4. Thanks for sharing about the gold investment in banks. I must talk to my Jin Jin tonight :D

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    Replies
    1. well it is no harm to purhcase some gold and keep it as for future investment.

      Delete
  5. I believe the gold investment plan in banks is much better than buying the actual gold jewelry. I scare that snatch thef would eye at my gold jewelry.

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    Replies
    1. Buy gold bar (99.999%) better than buy the 916 gold right?

      I also must buy some. Wish can buy LOTS!

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    2. I think if you go to any goldsmith they are offering you 99.99% gold bar..
      but the trick is that if you sell to them they will charge you 15% on top of it.
      Which means that if yuo buy at RM100 and you sell at RM85
      (which is base on the current gold price)

      Delete
  6. This is a good investment, SP. Buy when the value dropped and wait for it to shoot up high and sell :D

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    Replies
    1. Er... I might sound childish - buy during low price and sell when price's up.

      I'm no good in investment plans. I prefer to save, hehehe~

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    2. Last time my hubby work in MBB. Long service award got gold coin. Now work elsewhere, tak dpt gold coin anymore. ;

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    3. yalor, no wonder they both so ORANG KAYA lah, they know how to speculate and find good opportunities to invest..

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    4. well just keep an eye for all good opportunities le..
      need to let the money to work for us..

      Delete
  7. Moreover my hubb is a businessman, I don't think he would buy this idea T_T

    ReplyDelete
    Replies
    1. wow .. yvonne is a businessman's wife..
      lagi kaya .. :)

      Delete
  8. LOL...but PBB have good track record in investment.

    ReplyDelete
    Replies
    1. yeah, PBB have very good track record in their investment one..

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    2. i think so ..
      I don't really go into PBB's investment programme..

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  9. Nearly every year they win one or another awards for it.

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  10. Hmmm....come to think of it...the last round I bought gold was for my nephew's full moon...now he is two plus....

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  11. Interesting.. what's the return they give?

    ReplyDelete
    Replies
    1. hmm is just the amount of gold you purhcase..
      maybe a free umbrella perhaps?

      Delete
  12. Ya...somebody told me to go for gold in 2007 or 2008 - it I had taken his advice, I think I would have made a bundle when the price shot up. The trouble was...and is the same now - I do not have the money to go for it... Destined to remain poor for the rest of my life. Sobssss!!!!!

    ReplyDelete
    Replies
    1. you could always invest in a small amount..
      It is not like requesting you to invest millions of RM..
      It is matter whether you want to invest or not...

      Delete
  13. Here we buy golds, people give gold to their daughter at their marriage. They are in form of jewellery but actually for future.

    ReplyDelete
    Replies
    1. same here.
      i buy gold for my family wedding as a gift

      Delete
  14. this investment sounds interesting woh.. so meaning it's vitrual gold you are buying lah.. they only record down in your passbook how many grams of gold you have..

    ReplyDelete
    Replies
    1. not to consider virtual at all.
      you still can change to the real gold at the end.

      Delete
  15. but then when you want to close the account, is it in currency or in gold that they give you??

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    Replies
    1. Good question, SK, you have proven that to me, you are one brilliant kid from young till old.

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    2. you can have both either way
      check on their PB/Maybank for more details

      Delete
  16. yes, i think gold price is kind of stable and will not drop drastically but at all times will increase.. since now it's low price, good time to buy in..

    ReplyDelete
    Replies
    1. well I would say that gold price is in relative low price.
      The decision is YOURS..
      kakaka .. so soon you will Mr. GOLD MAN .. kakakaka

      Delete
  17. now i know buying gold is not really buying the gold, it's just to keep an account and then actually depends on your stock and the gold price.. thanks for the info.. :)

    ReplyDelete
    Replies
    1. you could choose this way.
      and you still could have the actual gold if you want.
      but it is very risky.. where do you want to keep it?

      Delete
  18. yeah, since we cannot afford diamonds maybe gold is a good choice.. like your wise friend say, it's getting lesser and sure the price will get higher.. good perspective of the gold trend huh??

    ReplyDelete
    Replies
    1. diamond doesn't have good resell value lah SK.

      If gold jewellery also, not all gold have good resell value. 916 is good. Lesser than that, if you want to exchange/pajak gadai - a lot less value.

      Gold bar is the best. Or gold nuggets. ;p

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    2. Lina .. SK want to get a 1 carat diamond le..
      for some special occasion .. kakakakaka it is a big investment

      Delete
  19. cool information, i didn't realize a lot of this tips that you pointed out. i've never bought gold in my 36 years of existence, so it's possible that i'll never buy any :D

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  20. Simple Person is Smart Prince too!

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  21. I heard of this and many other gold investments that can collect fixed dividends every month.

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    Replies
    1. gold investment that has fixed dividens every months?
      please share with me

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    2. I will ask my friend who is the sales person and email you....not so soon ok.

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  22. I was drooling at that fixed monthly dividends but the minimum is too high. So I think I will start with yours!

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  23. Suddenly everyone wanna get rich here! Good!

    ReplyDelete
    Replies
    1. not rich le ..
      but got some extra income generate from our hard earn money...

      Delete
  24. Not bad for an alternative investment. Maybank offers min initial investment at 1g (RM165.96 as of 10Jul12). Probably it is a good time to buy gold now at its rare low point as compared to last year. The gold price has been on increasing trend since 2000. The last dip was in 2008. You can check this out http://goldprice.org/live-gold-price.html

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    Replies
    1. in order to start an account you need to have a minimum 10g

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  25. I would purchase gold as insurance against inflation esp when our government is printing money like a photostat to fund their multi-billion dollar projects & to sustain national debt. One day when our currency has no value, commodities like gold & silver will be king.
    However, I have doubts about paper gold. They are not physical gold & they are held by banks which want to take as much money from you as they can.

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    Replies
    1. actually they could change to physical gold at then end..

      Delete
  26. for a moment, I thought u were promoting PBB gold investment! hahahaa... yes, gold prices have soared sky high.. last time when I got married, the gold was only RM40 per gram.. and now...RM160??? wow.. i can go gadai my gold already! hahaha...

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  27. Ehh..this type of gold investment hor...u will untung when the gold price increase. What if the gold price drop? Ur money will be lesser wan ma?

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  28. I was thinking of this too earlier.. to put in FD or GOLD.. think GOLD gives me better rates.. hehehe..

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