Recently, GOLD was at 1150 level support. Gold hit years low in Nov 2014 last year. Recently too, USD hit 100. That is how I see it ... Gold will lose it glitters if USD continues it strong uptrend. Besides, MYR is taking the beating with 3.70 above now ...
A note to those wanting to buy paper-gold, such as opening the bank-book on Gold(or Silver). Yes, in my opinion ... we should not open such accounts. There are many things the salespersons do not tell you about. Well, you cant blame them ... they are on commission base to get customers/clients to open accounts, right?
Recently, I have thought of opening the account too ... so, I done some simple research on the WHYs we should not.
Check the spread. It is high ... about 6-8%. Before we even have that paper-gold in our accounts, we lose out that amount.
Charges fees. Check that too ... as we cant deny that will eat up any so-called investment we placed our money into.
It is vs USD. If USD is strong vs MYR, don't we need to put more MYR for an oz? No? Think of it another way ... gold vs USD ... they are negatively correlated. This ... u may need some statistical friend to explain to you. DO NOT approach those sales-persons. Get me?
Dividend. No ... these account wont give us dividend. It is moving in tandem with gold-prices(which at 1185 now) but the set back ... USD lowering if gold-price up. No dividend ... put in ASB/ASN or even FD is better, ok?
Guaranteed? That I m not sure ... check if it is insured.
Time to go ... at airport now.
Have a nice weekend
TEH
albukhary
I just bought Gold necklace from Jewellery shop today.
The price is RM160 per gram (916 gold).
This is the best best price they can offer (the owner is my neighbour), and they don't charge me for the labour cost.
Is the price is consider fair, or I kena tipu?
2015-03-21 13:48