This blog is primarily on Precious Metal investment. Every week I will write something until I ran out of idea. I 've been selling silver since 2008. Come and visit my ebay store at http://myworld.ebay.com.my/silvermalaysia
Last week can’t really recall exactly when, I decided to collect some cash from few of my customers first and then use the cash to do the bank wire. It’s the same thing. I ended up in the bank late at around 3-4 pm. Then the clerk today me, that I have to wait longer because she need to download the forex rate again into her computer because the rate has changed. I ended up paying RM55/- extra due to the forex changed. Has she have type a little bit faster I would have safe the RM55/-.
Then I checked, apparently if I did my TT in the morning, I could easily safe about RM200-RM300/-. There is no need for me to work so hard selling at all. Since USD is on the rise, it may be wise to do your bank wire ASAP. Vice-versa. However, other factors also have to be considered. For example, if there are pending undelivered orders, it may be wise to wait for the order to be shipped out first before paying for the second order.
One of the best investments in your life is to get a good and compatible spouse. In most cases, he or she will be with you forever. Till death tear us apart. Since most Precious Metal investor are already married. This advice is dedicated to those whom I can still safe lah. Adding more joy/ meaning to your remaining years of life.
If you are young, don’t waste your time and money investing in Precious Metal. Invest more time in finding the right mate. OK. ROI is very high. That why leng lui don’t need to invest in PM or property because they will have it once they married.
In Joseph Yu, Feng Shui correspondent course basic and intermediate. There is a chart which specifies the general compatibility of a couple. I believe you don’t have much time to research on it. General rule of thumb is that the age difference between two couple must be odd following the Chinese Calendar. You have to consider that Chinese Lunar Calendar when sometimes the Chinese New Year starts in February. So don’t date your university mate or class mate no matter how leng chai or leng lui they are because they are of similar age.
After some time dating just before you fell deeply in romance, you should consult some life fortune teller such as Bazi compatibility between two couple. For Indian, there are also some services available in temple. If compatible then get married and have kids etc.
If not compatible and you decided to carry on for the sake of love or due to lack of choices then be prepared for some tough life like constant argument or disagreement. For guys, let hope you not be Anakin Skywalker who has fallen into the dark side of the force. (YES MASTER).... and become a yes man for the sake of peace. Nevertheless, it’s a learning process that everybody will go through. Just hope you can come out as a better person.
For something that can never be agreed upon, let alone to be told, thus shall remains forever in your heart as a secret. OK. I buy few hundred oz, where arh! to hide it, so that she won’t suspect anything.
Week 34.1 There is No Smooth Ride. Food for thought.
Well, do you think you can have a smooth ride despite abiding to all the rules and regulation? One silence day, the authority will come after you for certain regulation you unaware off. It’s not easy to run an honest business especially if you are weak in human networking. If you are too small then it’s not profitable to go after you. If you are very big, then you have the muscle power to fight back and the established networks to assist you in any matter. If you are medium size, your meat is just nice for a bite.
Thus, there is a need to increase the number of small players in the market. This is for the benefit of the general public to own some silver for years to come.
Well, if you have any problem with some authority, drop me any email wkchan1991@gmail.com and let share what we have in common. Perhaps, we can help each other out from our experience.
In the above article, it stated that gold is just 0.7% of global managed assets. However, it’s difficult for me to assess how much is the global managed assets without any references, that why I come up with this article.
Note: peak production is approximately 2600 tonnes in 2001.
Total above ground is 167500 tonnes or 167500 x 32150 oz = 5,385,125,000 oz
Let us summarize it to 5.4 billion oz.
Can all the above ground gold buy all the stock in the world?
The price of gold must be = 49,000/5.4 = USD9074/oz
Bear in mind we have not consider the value of the properties, car and etc owned by individuals, government owned assets and also the amount of money already printed in circulation. That also does not include all the derivatives.
Conclusion:
a)Gold is still cheap or stock market is over-priced.
If we take the mid-path, gold will easily raise to USD3000-5000/oz, stock market capitalization to drop to USD25 trillion.
b)In the future, a basket of commodities will be used as standard for currency backing. Not gold alone. It will be precious metal, oil and other commodities.
Often in life in the pursuit of material gain, we forget to reward ourselves. So, best investment must be able to provide us with some rewarding reward directly or indirectly.
One of the best life-time investments is getting a good bed. A good one may cost RM3K and above depending on the range. Certainly, RM3000 will not buy you much silver these days but it will get you a good bed, pillow, bed-sheet etc. In one purchase, it may cost you more than RM3000 already. Thus, before you buy your silver buy a good bed first. Why?
It’s an investment for 5 to 10 years and 1/3 of your life is spent there. Why not invest on the best for something that you will be using every day?
Start your day tomorrow with a good sleep tonight. Dreamland!
Hopefully, for those who are married, a good bed will lead to more productive and fulfilling relationship. Haha…
Silvermalaysia : Why you order only 10oz and kilo bar ? Most customers preferred wanted 1 oz bar.
Customer : My customer is cash rich. 1 oz too cumbersome to them.
Silvermalaysia: Wow! Why you come all the way to KL from outstation to collect your goods?
Customer: I got a few shipment lost via courier service City Link and other pos.
Silvermalaysia: Can you explain how does the lost happen?
Customer: Well, first the delivery was a bit late. Instead of in the morning, it came late in the evening. When the package comes it was 10kg, so the box was weighted before it was opened. It still weight 10kg. When I opened the box, some silver bar is missing. It was replaced with stone. This happen a few times already, so I decided to come and collect it myself.
Silvermalaysia: It must be very disappointing
Customer: Well, you know you are in this business. When people know you are in this business, they will nail you down. Furthermore, the margin is very low. If you kena 1 time, you end up working 20-30x for free.
Silvermalaysia: What happen if I have taken your money and suddenly I passed away?
Customer: Death is certain. Mesh is for the next of kin to settle.
Silvermalaysia Note: I will resolve this issue with him soon.
Silvermalaysia: You have a retail lot why don’t you start selling 1 oz silver bar there.
Customer: For a gold smith shop, a simple glass window (not bullet proof) with grill will be around RM30,000. A bullet proof one will be RM50,000. Then you need CCTV etc. Lot of security cost. Then, when you show it to some customer, some may get stolen and some may take it and run away. So, it is better to do close door business where the customer is known.
Silvermalaysia Note: Some customers do sell silver coin/bar in the retail lot, this customer fears probably due to his shop lot location and the general economic background of the people in his area.
Silvermalaysia: How about those people in silverware? Ring etc.
Customer: Now the cost is double, it’s very difficult for everybody. 1 ring used to cost RM20/each now cost RM40 each. I don’t see much prospect in it.
Silvermalaysia: How about those silver coin? Lot of people are asking for it
Customer: I still have quite a bit of them. It hard to sell at current prices. Furthermore, the wealthy people tend to look for price per oz.
Silvermalaysia: What is the price like during your time?
Customer: I used to buy kilo bar last time. The price was about RM700/kg but that time nobody wants to buy silver. I myself cannot keep that much stock mah. Now when the price now is RM4500 to RM5000/kg everybody started to search for it. We (seller) buy during low prices, customer buy when the prices are high. Greed is the human nature.
Silvermalaysia: Thank You very much for your time. You may need to go now. CU around until we meet again. Hope you can sell off your stuff quickly for the next reorder.
Well, I was expecting CME to raise their gold margin on 30th August 2011 and price to drop on Wednesday nite Malaysia time then whack it kow kow. They did not raise the margin. Thus, the gold and silver price remains the same and a bit higher by now. Well, I was wrong this time. Perhaps, the cartel has found that when they raise the margin price drop only for 1-2 days, only to recover back to the old level quickly. It’s seems that margin raise is no longer effective. Current buyer has very deep pocket.
Since the delivery for silver and gold is end of Sept 2011, we still have a long way to go. As off now I don’t know what will happen next. Wait for new news to come.
