Page 1 of 24 123456789101112131415161718192021222324 LastLast
Results 1 to 10 of 236

Thread: How to buy precious metals

   
   
       
  1. #1
    Join Date
    Oct 2008
    Posts
    13,391

    How to buy precious metals

    Many people have asked: How do I buy gold, silver and even platinum?

    Maybe they will find the notes below helpful. The important thing to remember is how to handle your emotions (fear) about physical storage - whether you want it at home or at the bank. In many instances, that may dictate your buying preference. There is no problem storing it at the bank as storage boxes are very cheap. An alternative method is to buy Gold Certificate or Gold Savings Account at UOB Singapore. Their procedures and charges are quite transparent.

    Read on....

    How to buy precious metals?


    * rating. 5* is best. 1* mean so, so.

    Maybank
    Kijang Mas Coins ***
    Gold Savings Passbook (fees & conversion charges not clearly defined) – not recommended. *
    http://www.maybank2u.com.my/promotions/goldcoin.shtml#
    http://www.maybank2u.com.my/maybank_...ldsaving.shtml

    Public Bank Bhd *
    Gold Savings Passbook (fees & conversion charges not clearly defined) – not recommended.
    http://pbebank.com/en/en_content/per...ents/gold.html

    UOB Malaysia *****
    Gold Bullion Coins – prices quite fair.
    About 5% above London PM Fix http://www.kitco.com/glossary/markets.html
    Buy/Sell spread about 3%.
    Kilobar Gold
    http://www1.uob.com.my/jsp/finance/f....jsp?func=gold

    UOB Singapore *****
    Prices lower than UOB Malaysia as the GST has been lifted.
    Gold Bullion Coins
    Gold Kilobar
    Gold Certificate
    Gold Savings Account
    Silver Savings Account
    http://www.uobgroup.com/pages/person...als/index.html
    http://www.uobgroup.com/redirect.jsp...oxy?Action=GLD

    One of the cheapest in the world - Hong Kong

    Off-shore

    Bullion Vault: London, New York & Switzerland *** (tentative)
    Gold bullion
    Silver bullion
    www.Bullionvault.com

    Goldmoney.com: London & Switzerland **
    Gold
    Silver
    www.goldmoney.com

    Perth Mint: Australia ***
    Commemorative Coins
    Gold: Coins, Kilobars, Ingots – 1 oz, 1 kg, 400 oz, 1000 oz
    Silver: 10 oz, Kilobar, 100 oz, 250 oz, 1000 oz.
    Platinum certificate (no physical metal)
    Website is horribly complex. It is almost impossible to find where to buy from them.
    http://www.perthmint.com.au/metalPrices.aspx

    Daily Gold Price: http://www.kitco.com/charts/popup/au24hr3day.html
    Daily Silver Price: http://www.kitcosilver.com/charts/24hoursspot.html
    Daily Platinum Price: http://www.kitco.com/charts/liveplatinum.html

    For offshore, I think Bullion Vault is the most friendly.

    It is necessary to do a fair bit of reading if you want to invest in gold. Many people are scared to venture in. Start small to build your confidence.

    Keep visiting this site. We will update the site with new developments on the gold market as it arises.

    All the best.
    py

  2. #2
    Join Date
    Oct 2008
    Posts
    179

    Re: How to buy precious metals

    1. Bullion vault there are some rumors that it will default. Get your physical delivery quick.

    2. Perth Mints also has lot of complaint on delivery and conversion from paper-gold /silver to physical gold and silver.
    Watch http://www.silverstockreport.com/2008/perth5.html

    3. Most paper gold and silver is not back by anything. So just be careful of future default.

    4. You may also get gold from
    I) www.publicgold.com.my
    ii) Kelantan Dinar Gold and SIlver
    iii) Poh Kong Bunga raya



  3. #3
    Join Date
    Oct 2008
    Posts
    13,391

    Re: How to buy precious metals

    Quote Originally Posted by GoldChan
    1. Bullion vault there are some rumors that it will default. Get your physical delivery quick.

    2. Perth Mints also has lot of complaint on delivery and conversion from paper-gold /silver to physical gold and silver.
    Watch http://www.silverstockreport.com/2008/perth5.html

    3. Most paper gold and silver is not back by anything. So just be careful of future default.

    4. You may also get gold from
    I) www.publicgold.com.my
    ii) Kelantan Dinar Gold and SIlver
    iii) Poh Kong Bunga raya
    GoldChan,

    1. Bullion Vault: Can you elaborate on those rumours?

    2. Perth Mint: Perth Mint has issued a statement clarifying the allegations in silverstockreport. Sounds ok. Minting of silver takes about 2 weeks. So, it is not really an issue unless you are in urgent need of the silver. Bear in mind, silver is usually cast in 1000 oz (28.3 kg) ingots - 2703 cc, about 1.6 times the size of a common brick. So, you don't really want to take physical delivery. It is not so convenient to be lugging such a brick around the place, especially if you don't want to attract attention.

    4 I) publicgold.com.my: Is this a subsidiary of Public Bank? It doesn't state explicitly but the word Public tends to give one the impression it is so. They are based in Penang. So taking delivery and sending to them is a bit of problem for people from Selangor, isn't it?

    Anyway, good points. Thanks.
    py

  4. #4
    Join Date
    Oct 2008
    Posts
    179

    Re: How to buy precious metals

    GoldChan,

    1. Bullion Vault: Can you elaborate on those rumours?
    >I can mail U the URL. Just rumours.

    2. Perth Mint: Perth Mint has issued a statement clarifying the allegations in silverstockreport. Sounds ok. Minting of silver takes about 2 weeks. So, it is not really an issue unless you are in urgent need of the silver. Bear in mind, silver is usually cast in 1000 oz (28.3 kg) ingots - 2703 cc, about 1.6 times the size of a common brick. So, you don't really want to take physical delivery. It is not so convenient to be lugging such a brick around the place, especially if you don't want to attract attention.

    If you think Perth Mint explanation is good enough then its fine. For other forum reader, let them decide on their own. Lehman Brothers also can failed + so many complaints + maths doesn;t work out well. Below is some of the URL which I have read

    http://www.silverstockreport.com/2008/perth4.html
    http://www.silverstockreport.com/2008/perth3.html
    http://www.silverstockreport.com/2008/matthey.html
    http://www.silverstockreport.com/2008/WAustralia.html
    http://www.silverstockreport.com/2008/matthey.html

    Perth Mint precious metal liability is $880 million,
    in 2007, the silver investment demand is 75 mil oz, @ 15/oz it will be $1.1 bill dollar.
    compare it with Perth Mint liability it is too great.

    4 I) publicgold.com.my: Is this a subsidiary of Public Bank? It doesn't state explicitly but the word Public tends to give one the impression it is so. They are based in Penang. So taking delivery and sending to them is a bit of problem for people from Selangor, isn't it?

    I don;t think its public bank subsidiary, you can check in their website www.publicgold.com.my

  5. #5
    Join Date
    Oct 2008
    Posts
    13,391

    Re: How to buy precious metals

    Quote Originally Posted by GoldChan
    1. Bullion Vault: Can you elaborate on those rumours?
    >I can mail U the URL. Just rumours.
    Please do. Tx.

    Quote Originally Posted by GoldChan
    2. Perth Mint: Perth Mint has issued a statement clarifying the allegations in silverstockreport. Sounds ok. Minting of silver takes about 2 weeks. So, it is not really an issue unless you are in urgent need of the silver. Bear in mind, silver is usually cast in 1000 oz (28.3 kg) ingots - 2703 cc, about 1.6 times the size of a common brick. So, you don't really want to take physical delivery. It is not so convenient to be lugging such a brick around the place, especially if you don't want to attract attention.

    If you think Perth Mint explanation is good enough then its fine. For other forum reader, let them decide on their own. Lehman Brothers also can failed + so many complaints + maths doesn;t work out well. Below is some of the URL which I have read

    http://www.silverstockreport.com/2008/perth4.html
    http://www.silverstockreport.com/2008/perth3.html
    http://www.silverstockreport.com/2008/matthey.html
    http://www.silverstockreport.com/2008/WAustralia.html
    http://www.silverstockreport.com/2008/matthey.html

    Perth Mint precious metal liability is $880 million,
    in 2007, the silver investment demand is 75 mil oz, @ 15/oz it will be $1.1 bill dollar.
    compare it with Perth Mint liability it is too great.
    Tough call here. Your last paragraph, please explain further. Not so clear.
    py

  6. #6
    Join Date
    Oct 2008
    Posts
    13,391

    Gold ingot

    This is how big a 12kg ingot looks.

    http://picasaweb.google.com/pywong07...47526747389666

    py

  7. #7
    Join Date
    Oct 2008
    Posts
    179

    Re: How to buy precious metals

    1. Bullion Vault: Can you elaborate on those rumours?
    >I can mail U the URL. Just rumours.

    Please do. Tx.

    give me your email and I shall forward the link to U.

    Tough call here. Your last paragraph, please explain further. Not so clear.
    Try to convert the $880 million to oz of silver. you will find out that it there is not enough silver to cover it.
    $880 mil/ 1.1 billion is about 85% of world total investment on silver by Perth Mint alone.
    I have given the URL, for investor if one were to dump in > Rm100K into it then they better do their homework and make your own decision.

    For me, I a bit skeptical because from the mailing list of Jason Hommel, lot of people complaining the conversion from paper silver to real silver, from allocated to unallocated took so long. Got many charges etc. Why? If there is enough silver, get a camera published it inside YouTube lah.

    regards,



  8. #8
    Join Date
    Oct 2008
    Posts
    4

    Re: How to buy precious metals

    I called up UOB to purchase their gold coins but was told that they are all out of stock...

    Just wondering where else could i buy gold coins ? (Poh Kong Bunga Raya ? - how to go about it ? go to any poh kong branch to buy?)



  9. #9
    Join Date
    Oct 2008
    Posts
    13,391

    Re: How to buy precious metals

    Quote Originally Posted by Rachel sj
    I called up UOB to purchase their gold coins but was told that they are all out of stock...

    Just wondering where else could i buy gold coins ? (Poh Kong Bunga Raya ? - how to go about it ? go to any poh kong branch to buy?)


    Poh Kong: GoldChan, can you advise please?

    Public Gold: Penang based. Try them. Sounds like Public bank but not so clear from their website.

    Maybank, Kijang Mas: Call the outstation branches nearby. A while back, Lok did a survey -
    Last updated on 25 August
    Branch 1 oz ½ oz ¼ oz
    KL, Bangsar,B.B. - - -
    PJ, Shah Alam - - -
    Melaka - - -
    Seremban - 80 100
    Kuala Lipis 30 30 Plenty
    Mentakab 8 16 30
    Ipoh - - -
    Tanjung Malim 10 Plenty Lots
    Teluk Intan - - -
    Kuantan 8 Plenty Lots
    Alor Setar 50 60 Lots

    Try your luck with them.

    Who else? UOB Sg. Take a flight down from wherever you are. Take out through Changi airport to claim your GST refund.
    py

  10. #10
    Join Date
    Oct 2008
    Posts
    112

    Re: How to buy precious metals

    I am confident, gold price will go much lower in these following weeks. Down to as low as 700 USD/ounce.
    This is due to the deflationary panic right now. Panic due to lack of demand for commodities such as oil and also less food consumption such as rice, wheat, etc. Everyone is selling out to hold cash. Hedge funds are dumping gold to get on to cash to repay their due loan and interest. Banks freezes loans, creating a tight credit/loan. With money supply coming from banks reducing, deflation will happen. Panic!
    It will take a some time before we start feeling the inflation.

    The mega fund injections are still not being felt yet. Banks are still nervous, if the banks survives and confidence are back, we will be looking at high inflationary future.

    Let's step back and review the basics:
    Massive injection of money supplies will create massive inflation. And reduction of money supplies will lower prices down (deflation).
    Here's our link:

    Fed ----> Banks -------> Businesses & Public

    Fed inject money to banks. But banks are holding the money tightly and not spreading the money out to the businesses and public. The money supply does not reach the businesses and public, causing deflation in the real world. This is the deflation we are looking at right now.

    All this is provided IF the US Dollar does not collapse in the coming weeks.

    1.) The risk on the USD is the huge deficit loan by the US government, and they have to pay interest on them. If other countries start to distrust the USD, the US government might not be able to refinance its loan and default on it interest payment, causing the US to declare bankruptcy.
    2.) Since the US government bought out so many CDS from the investment banks, they are holding onto so much toxic waste CDS papers, when they are reclaimed, the US might collapse simply by the weight of these papers.
    3.) As the auction of Lehman Bros CDS papers are only worth pennies to the dollars, a tight credit squeeze from the banks lending to major business will make them stop operating further, then businesses go bankrupt, so will the US.
    4.) Massive funds withdrawal/bank runs. Even with a government guarantee for all the funds, the government might not have the money to service all the fund withdrawals, effectively making the government broke.

    The main concern will be a US bankruptcy, which will cause an immediate hyperinflation. As most currency are in someway pegged to the dollar.
    Look at Iceland right now, that is the possible outcome.

    I would strongly recommend
    1.) Right now. Purchase food to last your family for at least 2 months, preferably 6 months. With strong focus on rice, sugar, flour.

    2.) Hold on gold buying for now. Just wait another week or so to have a clearer picture of gold price, I expect it to drop much lower. In the meantime, find out how to purchase gold and silver and the availability. Very often, it is not a question whether you want to buy gold at lower price or not. Because you can't even get gold or silver! Make sure you can buy them when you want.

    Right now, food is the most important asset, and it is the most worthwhile and cheapest item available. You can have gold, but gold can't help you buy food if there is no food available for sale.

    Referring to history, we need 2 major events to cause a big recession:
    1.) Banking turmoils with bank runs.
    2.) Supply of crude oil being reduced especially by Opec countries driving oil prices up.

    These 2 events are about to happen soon.

    Regards,
    Lok



Page 1 of 24 123456789101112131415161718192021222324 LastLast

Visitors found this page by searching for:

where to sell silver in malaysia

poh kong gold bullion

precious metals

air tite malaysia

amprecious metals

how to buy uob gold bullion coin

sell silver in malaysia

amprecious metal uob

uob bank penang buy gold

where to buy american eagle gold bullion in malaysia

airtite shop malaysia

gold uob kuantan

airtite malaysia

am precious metal

am metal precious

silver savings account malaysia

30 ringgit coin

uob gold coin malaysia

amprecious metal bloomberg

gold china ingot

gold 9999 coin malaysia

penang buy silver coins

pbbbank amprecious metal

uob malaysia silver price chart

ammetal maybank

SEO Blog

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •