Gold Buying Strategy

Week 10.1 Gold Buying Strategy

If it is solely for investment I will buy gold in the following order. I believe majority of you will also agree with me

1.      Buy from UOB  1 oz bullion

2.      Buy from Maybank Kijang emas 1 oz.

3.      If you are buying a lot RM50,000 or more then better become a Public Gold agent. You may get 1.5% discount. However, there may be a possibility that you are required to buy lot of different product, product of not your choice.

4.      Buy from nubex agent Bunga Raya 10 gram gold or MKS agent Pamp Sussie 100 gram.

5.      Buy from Public Gold agent

6.      Buy from agent Logam Mulia

7.      Buy other gold such as

http://www.sgnet5021.com/

Kuwait Finance House.

http://www.kfhonline.com.my/kfhmb/ep/kfhContentView.do?contentTypeId=3000&channelId=-8146&displayPage=%2Fep%2Fcontent%2Fkfh_editorial_content.jsp&programId=8546&pageTypeId=8683&contentId=11048

For your information, only UOB maple, Australian Nugget, Sussie Pamp and Logam Mulia are good for London Bullion Market Association Good Delivery. The rest are not.

For more info about LBMA Good Delivery, refer to

http://silvermalaysia.blogspot.com/2011/03/meaning-of-lbma-good-delivery.html

I always believe in taking physical possession of my goods. No paper gold, paper silver or any storage based program whatsoever, just physical. You pay your own storage fee at safe deposit box operators. For more local safe deposit box operators, look at these URL

http://silvermalaysia.blogspot.com/2011/03/bank-with-additional-safe-deposit-box.html

http://silvermalaysia.blogspot.com/2011/03/private-safe-deposit-box-operator.html

In case you want to buy paper gold, I would suggest you go for

1.      UOB Paper gold (if your location is near to UOB branch). RM2 /gram spread

You must be physically present in the bank counter to do the buy and sell.

2.      Public Bank paper Gold

I would not advise on oversea purchase because every time you do a bank wire you will lose out about 3-5% in forex exchange, there goes your profit.