I've became a proud Malaysian gold bug last year when the price of gold was hovering around 800-900. I read plenty of articles about hyperflation and it just scared the hell out of me that all my hard earned saving will be depreciated over the years through inflation. So i decided to begin investing some of my precious paper ringgit money in physical gold and gold investment account offered by public bank. I prefer Public bank gold acc because they have small spread. I initially buy my physical gold bar from gold smith like POH KONG AND WAH CHAN . Mostly SWISS PAMP GOLD . But later found out that UOB at the KL main branch offer a better price. So i now buy physical gold from UOB. U know, i should have invested in GOLD 6-7 years ago, but that time also no money lah, still looking for job after graduation.
I choose SWISS pamp goldbar because it's well recognized worldwide. You can buy Kijang emas or other non branded gold bullion but my opinion is it wont be guaranteed that when you cabut to another country the foreign bank will accept your gold with fair price. But some people would say that gold is still gold right, so it doesnt matter.
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2 comments:
Hi
I have read a lot about the Malaysian banks offering gold accounts. What is the minimum order and what is the % over spot for these accounts?
Thanks
and good luck with the blog
Ed
Hi ya, the minimum amount to open a gold account with Public bank is 20g. There is a small yearly charge for the account, can't remember exactly how much. I 'm not too sure about the % above the spot. Perhaps you wanna do the calculation with the following URL http://www.pbebank.com/en/en_content/personal/rates/goldinvest.html
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