Author Topic: GOLD  (Read 102195 times)

Offline HappyRolex

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Re: GOLD
« Reply #25 on: September 08, 2011, 07:30:54 PM »
Today price RM 205/gm!!!

Offline hanz079

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Re: GOLD
« Reply #26 on: September 08, 2011, 08:25:05 PM »
Today price RM 205/gm!!!
During hari raya, price is lower at 190 per gram.
After raya, 197... Two days ago 205... And this is the price of 916 gold. 999 is higher...
Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


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Offline Watchnewby

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Re: GOLD
« Reply #27 on: September 09, 2011, 01:28:58 PM »
Gold Prices seem to be "going Up, Up and Away!"

Offline mnazri.tan

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Re: GOLD
« Reply #28 on: September 14, 2011, 08:06:02 AM »
Need advice...

WHat is the best way to invest in gold

Buy jewelerry from Poh Kong or Wah Chan
Buy Gold bar from Poh Kong or Wah Chan
Invest gold in bank
BUy those kelantan dinar?

Please advice...

Out of curiosity, before raya i bought a small gold bar for myself when wifey bought new jewelery ...Price is mind blowing for a tiny piece, but wanted to give it a try...i bought at wah chan.... then i do my math, considering that bank or gold outlet buy back gold at -20% or -15% or market price, plus price we pay for workmanship when we purhchase the gold bar, u have to wait for the price to goes up minimum by 25% before u can breakeven....So say you buy 1gram of gold before raya priced at 200 solid, plus RM 20 -RM 30 for workmanship (depend on how well you negotiate...it could be higher though) U have to wait for the price to go at RM 250 for you to earn....but can price goes that high? is it too late to invest in gold?

I know old lady with more than 1kg gold with her, and she bought that when price was RM 35 per gram....just imagine ....hahahha

Offline hanz079

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Re: GOLD
« Reply #29 on: September 14, 2011, 08:12:10 AM »
1kg gold? That's brutal man...
I remembered when gold prices were at rm35, I was in Form 5... no money to buy.
When I finally though of buying gold, the price is at rm90... that time oso I was hitting myself in the head.
Now? At prices like rm200... I made the correct decision...  ;D
But the way I see it... Give it another 2 years and it's possible to hit rm400... yes, you heard it here 1st...  :thumbsup:
As to what kind of gold to buy. It's like buying a watch lor...
I personally would not go for gold bars... those are for keeps...
I would go for gold jewellery... pure gold without diamonds, rubies and stuff... just gold...
Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


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Offline chrisyen

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Re: GOLD
« Reply #30 on: September 14, 2011, 09:12:52 AM »
No 1 - if back to gold price at rm35 / g.... instead of buying, u buy property or u buy land
now u r multimillionaire!!!


No 2
@nazri - sell back gold to banks gold investment account wont cost u 15%-20% ....
the wxx chxx sales conned u with this??? pls get the facts right, later banks sue u

http://www.pbebank.com/en/en_content/personal/rates/goldinvest.html
today pbb sell at rm 185.72 and buy at rm178.26
so the different is only around 4% on the average price
that means they make around 2% for buying and selling
check the comparison here

http://www.horlic.com/comparison-between-5-gold-investment-accounts-cimb-vs-kfh-vs-mbb-vs-pbb-vs-uob-%E2%80%93-choose-the-best/

buying gold from those so call gold bar investment company like Genneva or same concept type of company, they guarantee u return in a month, around 1.5% onwards....

http://mygoldgoose.wordpress.com/about/
sound very very good investment yah??? yes...  but pls check the price of the 999 gold they are selling

http://www.goldbeam.org.my/

while pbb sell at rm185, genneva sell at rm225....... ITU 22% higher than market price rm181, PBB + 2% only

since gold market is good now.... every1 buying, i strongly believe Genneva will do well....
he buy at rm181 and sell u at rm225, if u take gold one month later, u lost rm20%, if u dont, he give u rm4 but he keep ur rm225.... 20% he can take out as cost of operating and profit!!!  :Laughing_on_floor:
still got balance rm177.... rm177 he can pay u for 4 yrs ....

5th years later how they generate money to pay you?  ???

recently 1 company that guarantee 7-8% return in singapore run by a malaysian, now ran away.....

« Last Edit: September 14, 2011, 09:20:20 AM by chrisyen »

Offline chrisyen

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Re: GOLD
« Reply #31 on: September 14, 2011, 09:25:08 AM »

Offline Sid Vicious

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Re: GOLD
« Reply #32 on: September 14, 2011, 10:23:24 AM »
Sorry Zitan, I didn't get that. We can't buy anymore 500g gold bar?
"You have enemies? Good! That means you stood up for something, sometime in your life."
Sir Winston Churchill

Offline hanz079

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Re: GOLD
« Reply #33 on: September 14, 2011, 12:18:53 PM »
Cmon lah Zitan... If you ikan bilis... then I am tadpole oni leh....  :Laughing_on_floor:

RRP for 999 gold is rm225

rm205 is 916 gold.

I am never really into Genneva Gold type investments... better be safe than sorry...
The Gold could be plated for all I know... so it's better be safe.

As for gold investment account with banks... when you buy in, are you really buying gold or just a piece of paper stating that your buying X amount of gold at X amount rm?
Say if I don't wanna sell the gold, can I have it in physical form?

Buying gold at goldsmiths is of course more expensive than the "market price"
Precious metal trader sell gold bullion at slightly above market price to gold workshops who then turn them into jewellery before selling them to goldsmiths for retail.
So that's like 3 cuts before the gold reaches us.

The price PBB stated is the "market price" whereas the price genneva gold stated is "retail price"
« Last Edit: September 14, 2011, 12:39:51 PM by hanz079 »
Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


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Offline chrisyen

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Re: GOLD
« Reply #34 on: September 14, 2011, 12:53:43 PM »

I am never really into Genneva Gold type investments... better be safe than sorry...
The Gold could be plated for all I know... so it's better be safe.

As for gold investment account with banks... when you buy in, are you really buying gold or just a piece of paper stating that your buying X amount of gold at X amount rm?
Say if I don't wanna sell the gold, can I have it in physical form?


Genneva can sue you for this. They do not need to plate the gold!!! Some one check it, it is real gold!

PBB sales told me i can withdraw the physical gold if i wanted to when i checked with them last time, not sure about other bank!


Offline mnazri.tan

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Re: GOLD
« Reply #35 on: September 14, 2011, 01:30:46 PM »
1kg gold? That's brutal man...

hahahaha...she has gold chain thicker than rantai basikal....hahahhahah....
« Last Edit: September 15, 2011, 08:02:57 AM by mnazri.tan »

Offline hanz079

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Re: GOLD
« Reply #36 on: September 14, 2011, 02:22:54 PM »

I am never really into Genneva Gold type investments... better be safe than sorry...
The Gold could be plated for all I know... so it's better be safe.

As for gold investment account with banks... when you buy in, are you really buying gold or just a piece of paper stating that your buying X amount of gold at X amount rm?
Say if I don't wanna sell the gold, can I have it in physical form?


Genneva can sue you for this. They do not need to plate the gold!!! Some one check it, it is real gold!

PBB sales told me i can withdraw the physical gold if i wanted to when i checked with them last time, not sure about other bank!
Well, they can sue me if I am defaming them directly but I mentioned Genneva Gold "type" investment.
We all know that those get rich quick scheme could be real... for the early birds.
The ones who got burned was those who enter later.
And if you think about it in the long term... they are making money from? thin air?
By pricing the buy in value higher than market value?
And then used the difference to pay the returns?
Sounds like a pyramid scheme to me.
The someone who checked the gold used what method?
Anyone drilled a hole all the way thru?

I admit I am a skeptic on these type of investments.
It's difficult to convince me otherwise.

And if PBB allows you to withdraw physical gold, I would go with them rather than Genneva.
Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


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Offline chrisyen

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Re: GOLD
« Reply #37 on: September 14, 2011, 03:23:37 PM »

I am never really into Genneva Gold type investments... better be safe than sorry...
The Gold could be plated for all I know... so it's better be safe.

As for gold investment account with banks... when you buy in, are you really buying gold or just a piece of paper stating that your buying X amount of gold at X amount rm?
Say if I don't wanna sell the gold, can I have it in physical form?


Genneva can sue you for this. They do not need to plate the gold!!! Some one check it, it is real gold!

PBB sales told me i can withdraw the physical gold if i wanted to when i checked with them last time, not sure about other bank!
Well, they can sue me if I am defaming them directly but I mentioned Genneva Gold "type" investment.
We all know that those get rich quick scheme could be real... for the early birds.
The ones who got burned was those who enter later.
And if you think about it in the long term... they are making money from? thin air?
By pricing the buy in value higher than market value?
And then used the difference to pay the returns?
Sounds like a pyramid scheme to me.
The someone who checked the gold used what method?
Anyone drilled a hole all the way thru?

I admit I am a skeptic on these type of investments.
It's difficult to convince me otherwise.

And if PBB allows you to withdraw physical gold, I would go with them rather than Genneva.

if they are selling genuine 999 gold and you said they sell plated gold.... sure they can sue you!

Offline hanz079

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Re: GOLD
« Reply #38 on: September 14, 2011, 05:43:43 PM »
I know they can, in fact... in this day and age, everyone can sue everyone based on a statement...
Wether they will or not is another story.
Anyway, since tomorrow is a short working day as I am preparing for my weekend canon getaway with my colleagues, once I get back... I will try to document in detail how to determine the grade of gold of 750, 916 and 999.
And I will try to take some pics of the process.
And if anyone here is into Genneva gold, I sincerely hope the investment works.

Ask any seasoned veteran and they will tell you there is absolutely no way of determining wether a "bar" of 100g, 500g or 1kg gold is indeed genuine by doing normal tests which I will document later.
The only way to determining if a bar of gold is 100 real is to cut the bar in half.
It's easier to determine if a gold jewellery if fake or not than a bar of gold.

When I am talking about plating, it's not thin micron type plating.
A bar of "gold" could be plated up to say 1mm thick.
And by doing conventional tests, the bar of gold appears solid until when a goldsmith sifu tries to melt it and found out the inside is actually a piece of brass, steel or bronze.
And ask yourself this, when you get the bar from Geneva gold and try to cut it in half, will they let you?
And if they let you, will the deal still be ongoing after the bar is cut?

I am no expert in gold but I have worked with gold since I was 18. And I have been conned numerous times... small time crook mostly. But I paid for my lessons.

Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


watchionable.blogspot.com

Offline hanz079

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Re: GOLD
« Reply #39 on: September 15, 2011, 09:37:51 AM »
Since I have some free time, I have took some photos on the method most goldsmiths use for determining the grade of gold and if the gold is fake or plated.

These 2 gold necklace will be used for the experiment and a ring as well that is not pictured here.
One of the necklace is 916 and another is 999. Can you tell just by looking at these pics?
By touching and feeling the gold, the easiest way to tell is 999 gold will be softer... it will bend when you apply some pressure. 916, 835 and 750 gold is solid as hell. Won't bend when you apply pressure.
999 gold is also less shiny.


This is a "batu asah" or grinding stone used to determine the grade.
The corner of the gold is used to grind some of the residue to the stone.
You can see that there are 4 strips that are freshly made.
The colour of the residue is used to determine the grade of the gold.
Out of the 4, one is 999, one is 750 and two of those is 916.
And if a 999 grade gold necklace is worn a couple of years, the length will get longer as it will stretch.
So from the picture below, it is a dead giveaway which is 999 and which is 916.



For the fake or plated test. 2 kinds of acid is used.
No 1 is applied to see if the residue fade when the acid comes into contact.
Real gold will not fade when the acid comes into contact.
For plated gold, the residue will contain not only gold (a very very thin layer) but some other metals such as stainless steel, brass or bronze.
So when plated gold residue comes into contact with the acid... chances are you will see the residue getting "thinner" because other materials are being washed away.
No 2 is applied to check if there is smoke when the acid comes into contact with the residue... if there is and the residue fades away. Then this means that the gold is as fake...



If there are any questions, you can post them here and I will try to answer them in general.
This is not an expert opinion and serves just as my experience from working with gold for 2 years.
That is the reason why I am skeptical of those Genneva Gold "Type" investments.
The Gold bars that Zitan posted up is what a 999 grade gold bar should look like.
Not too shiny, some bumps here and there (because 999 grade gold is softer)
I have seen the Genneva Gold bars and they are shiny, uniform in shape and almost flawless...
Something just doesn't sit well with me.

I hope I don't get sued just by voicing my opinions though.  :HammerHead:
« Last Edit: October 05, 2012, 10:20:43 AM by hanz079 »
Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


watchionable.blogspot.com

Offline hanz079

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Re: GOLD
« Reply #40 on: September 15, 2011, 12:18:39 PM »
Wah, if ikan bilis can choose between porsche, beemer or audi as a weekend car... Then I aspire to be your kind of ikan bilis...  ;D
Zitan, my family is not in the jewellery trade. They are into seafood.
But no more now... Retired.
I used to work at a gold workshop when i just finished my SPM. Not really what i wanted to do. So i continued my studies... And end up a tadpole...  :mooning:
Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


watchionable.blogspot.com

Offline hanz079

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Re: GOLD
« Reply #41 on: September 15, 2011, 01:55:28 PM »
Wah, if ikan bilis can choose between porsche, beemer or audi as a weekend car... Then I aspire to be your kind of ikan bilis...  ;D
Zitan, my family is not in the jewellery trade. They are into seafood.
But no more now... Retired.
I used to work at a gold workshop when i just finished my SPM. Not really what i wanted to do. So i continued my studies... And end up a tadpole...  :mooning:
............... mature into a frog, ............... then be kiss, ............... & transformed into a Prince :Laughing_on_floor:

Like that oso can ar? lol... good one there Zitan. :thumbsup:
I hope so too... ;D

Anyway, just to share a typical gold sifu's worktable.
A friend of mine.
I go to him for all my gold needs...


And for those who is thinking of buying gold jewellery, what can be more personalized than these?

Top row left is my Dad, right is me.
Bottom row left is my son, middle is my daughter and right is my sister's daughter (niece)

These are the ones that are timeless and will not be sold or melted... heirloom pieces...
My grandfather got 1 for my Dad, my Dad then got one for me, then I got 2 for my kids and 1 for my niece... Tradition I guess...  ;D
« Last Edit: October 05, 2012, 10:21:30 AM by hanz079 »
Terrenceterrence "seriously, i think buying a watch for it's secondhand value is like getting married and thinking about divorce at the back of your mind."


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Offline dpkong

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Re: GOLD
« Reply #42 on: September 15, 2011, 03:15:50 PM »


that tool at your "sifu" desk... the one at 6 o'clock.. the long long one... that is one scary tool...

is it to chase away wannabe snatch thief????  :Laughing_on_floor:  :Laughing_on_floor:

Offline chrisyen

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Re: GOLD
« Reply #43 on: September 16, 2011, 09:07:58 AM »
Wah... From gold investment to gold testing now gold jewelery making....

Offline Alvin-8880

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Re: GOLD
« Reply #44 on: September 16, 2011, 12:50:15 PM »
So Chris, from ur experience of investing gold with banks, is PBB offering the best deal from other banks?

Offline chrisyen

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Re: GOLD
« Reply #45 on: September 16, 2011, 06:45:04 PM »
So Chris, from ur experience of investing gold with banks, is PBB offering the best deal from other banks?

the time I invested into gold only mbb n pbb offer this
so I chosen pbb due to lower charge on transaction n physical gold withdrawal is available

all bank offer fair price, update real time!
Buying from gold shop, price higher, sell back higher charge n depend on who u r to them!

Goldsmith no experience
genneva type, crazy price n doubt they can sustain in long run!

Offline engkow

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Re: GOLD
« Reply #46 on: September 27, 2011, 06:55:50 AM »
my mom, passed away last monday, she left a gold chain and pendant, take to a goldsmith shop yesterday for a quote
the chain 81 gm rm 17k and pendant 20 gm rm 4k total rm 21k, my mom bought it for only rm 600 many years ago.

Offline chrisyen

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Re: GOLD
« Reply #47 on: September 27, 2011, 07:03:41 AM »
my mom, passed away last monday, she left a gold chain and pendant, take to a goldsmith shop yesterday for a quote
the chain 81 gm rm 17k and pendant 20 gm rm 4k total rm 21k, my mom bought it for only rm 600 many years ago.

thats work out to be rm201++ per gram....
999 / 916?

Offline engkow

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Re: GOLD
« Reply #48 on: September 27, 2011, 07:46:59 AM »
Chist, it choke kum (999 gold i think) that the market value, if i want to sell less 25%

Offline chrisyen

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Re: GOLD
« Reply #49 on: September 27, 2011, 10:02:28 AM »
Chist, it choke kum (999 gold i think) that the market value, if i want to sell less 25%

its very very good price......