Silver & Gold.......

[Darkangel]

Anyway guys...I was having a chat with one of the members here about gold...

And yeah after that I was thinking...now...is it a good time to buy a solid gold rolex?

I managed to find the estimates of the gold value and weight of the solid gold daydate.


Based on a 1220 Spot gold price,which equates to about $54 SGD/gram

Case ring weights 18.5 grams.
Case back weighs 7.21 grams.
Bezel weighs 5.30 grams.
The bracelet weighs 68.85 grams.

That equates to about 100 grams,x75% = 75g worth of 24k gold.

75x54 = $4050

We take the average price for a preowned 20 yr old Daydate with no diamonds at about 7k...

With value of the material at 4k and watch at 7k...now that's pretty worth it! But then again..some will say my way of comparing is not accurate...

Anyway maybe it's time for me to pick up a solid gold piece...in the near future?

[exxondus]

Bro Exxondus,

I was also confused about the above.

I called UOB to clarify and was told that for Gold saving account, we CAN withdraw out in physical Gold bar ( only 1 kg bar ) if we have sufficient amount in the gold saving account, just that need to pay the GST amount during withdrawal.

For the monthly service charge, it will be computed monthly and if the amount falls below 0.12 gram, than the account will be charge 0.12 g, meaning the min service charge is 0.12g of gold per month or 0.25% p.a. whichever is higher.

Cannot apply for Giro to auto increase/buy, have to go to the branch as and when u want to increase yr Gold saving.

Hopes the above helps.

yoyo, went to UOB today and they told me different story leh.

They say for gold savings acc, they will deduct either 0.12g per month or 0.25% of the highers value for EACH month per annum.

This means hor, either way, you are being charged monthly regardless of how much u have inside the account.

Did some very simple maths and found that after removing charges, removing the difference between buy and sell from bank, you need a monthly growth of at least 5% per 1 gram of gold's price in order to even start earning!!!

Not very lucrative to have savings account this way. Better to get gold cert since one off $5 and yearly $30 but you get the full advantage of gold price growth.

[Watchman1957]

yoyo, went to UOB today and they told me different story leh.

They say for gold savings acc, they will deduct either 0.12g per month or 0.25% of the highers value for EACH month per annum.

This means hor, either way, you are being charged monthly regardless of how much u have inside the account.

Did some very simple maths and found that after removing charges, removing the difference between buy and sell from bank, you need a monthly growth of at least 5% per 1 gram of gold's price in order to even start earning!!!

Not very lucrative to have savings account this way. Better to get gold cert since one off $5 and yearly $30 but you get the full advantage of gold price growth.

Bingo on the gol certificate but the Silver passbook is good as well, there are sometimes huge swings in the price of silver, it hits a high, cash out and wait for it to hit another low and buy again. As far as I know they debt the silver account once every quarter.

[rh1667]

yoyo, went to UOB today and they told me different story leh.

They say for gold savings acc, they will deduct either 0.12g per month or 0.25% of the highers value for EACH month per annum.

This means hor, either way, you are being charged monthly regardless of how much u have inside the account.

Did some very simple maths and found that after removing charges, removing the difference between buy and sell from bank, you need a monthly growth of at least 5% per 1 gram of gold's price in order to even start earning!!!

Not very lucrative to have savings account this way. Better to get gold cert since one off $5 and yearly $30 but you get the full advantage of gold price growth.

OK, thanks for the further clarification.

Hmm....monthly charges.....min 5% price increase to break-even per 1 gram.

Have you calculated what happen if the saving amount increase to above say 100g or 500g?

For Gold cert. did they confirm that it is only 1 kg? or available in like 100g, 500g or even 50g denomination? from the web site, it seems to suggest that only in kilo-bar ( meaning on 1kg? )

[Watchman1957]

OK, thanks for the further clarification.

Hmm....monthly charges.....min 5% price increase to break-even per 1 gram.

Have you calculated what happen if the saving amount increase to above say 100g or 500g?

For Gold cert. did they confirm that it is only 1 kg? or available in like 100g, 500g or even 50g denomination? from the web site, it seems to suggest that only in kilo-bar ( meaning on 1kg? )

Yes sorry only 1 kg bars or more. I bought only 1 kg per cert. so I could cash in 1 at a time if I preferred.

[exxondus]

OK, thanks for the further clarification.

Hmm....monthly charges.....min 5% price increase to break-even per 1 gram.

Have you calculated what happen if the saving amount increase to above say 100g or 500g?

For Gold cert. did they confirm that it is only 1 kg? or available in like 100g, 500g or even 50g denomination? from the web site, it seems to suggest that only in kilo-bar ( meaning on 1kg? )

I never ask cos cant afford the gold cert for 1kg haha...decided gold is out of my reach le.

anyway, with regard to your saving amt question, its very hard to say, Reason being that every mth u are being deducted based on whatever to the bank is higher. Accordnig to the lady, if 25% of your savings based on the higest day of the month is > 0.12grams, then they will deduct the higher amt for that month. Still need to add GST to such charges. When you close account that time, bank will also start to deduc off these fees, hence cant escape.

Hence, you need a min of 5% growth per month to maybe even break even. after breaking even, don 4get that the bank buy back price from you is always about 0.002% (or was it 0.2%?) lower than your buying price. So have to factor that in too.

I had a look at the gold charts from 2000 till now. Fwah!! uber major increase in long term. But then break down to per month growth, its not that lucrative when you do gold savings. some months less than 5% growth and ur savings get zapped. This means your capital is smaller, meaning even if next month increase = 10%, you cant really gain back the full amt.

at present moment, gold price too high. per month growth of 5% means the price need to go at least 50-100USD per month, unlike in 2005 when price was 500-600 and 5% increase per month is noly 25-30USD. No doubt long term price value go up up up but that is if you buy the cert and own the gold

erhm, sorry, long winded post but a bit disappointed mah, cos too late to hop in now

[exxondus]

Bingo on the gol certificate but the Silver passbook is good as well, there are sometimes huge swings in the price of silver, it hits a high, cash out and wait for it to hit another low and buy again. As far as I know they debt the silver account once every quarter.

Thanks, will look at silver passbook since still can afford if want

[rh1667]

I never ask cos cant afford the gold cert for 1kg haha...decided gold is out of my reach le.

anyway, with regard to your saving amt question, its very hard to say, Reason being that every mth u are being deducted based on whatever to the bank is higher. Accordnig to the lady, if 25% of your savings based on the higest day of the month is > 0.12grams, then they will deduct the higher amt for that month. Still need to add GST to such charges. When you close account that time, bank will also start to deduc off these fees, hence cant escape.

Hence, you need a min of 5% growth per month to maybe even break even. after breaking even, don 4get that the bank buy back price from you is always about 0.002% (or was it 0.2%?) lower than your buying price. So have to factor that in too.

I had a look at the gold charts from 2000 till now. Fwah!! uber major increase in long term. But then break down to per month growth, its not that lucrative when you do gold savings. some months less than 5% growth and ur savings get zapped. This means your capital is smaller, meaning even if next month increase = 10%, you cant really gain back the full amt.

at present moment, gold price too high. per month growth of 5% means the price need to go at least 50-100USD per month, unlike in 2005 when price was 500-600 and 5% increase per month is noly 25-30USD. No doubt long term price value go up up up but that is if you buy the cert and own the gold

erhm, sorry, long winded post but a bit disappointed mah, cos too late to hop in now

Thanks for the clarification Bro.
Ya, 1kg also out of my reach, was actually hoping to "accumulate" monthly.

Than when i check the gold coin and "wafer" price, it is so much more expensive per gram compared to the Gold saving account.
Seems like back to square 1.

Thank you once again for the clarification.

[exxondus]

Thanks for the clarification Bro.
Ya, 1kg also out of my reach, was actually hoping to "accumulate" monthly.

Than when i check the gold coin and "wafer" price, it is so much more expensive per gram compared to the Gold saving account.
Seems like back to square 1.

Thank you once again for the clarification.

No probs. My above calculation is based on fixed capital investment.

so meaning if you every month very diligently go down to UOB there to pop money into it, then might be a different scenario. For that case, much more complicated to compute cos everytime u need to take into consideration the possibilites of the price when you pump in as well as how much capital you still have inside. you can try calculating on a per 10-100 gram scenario on small deviations of the gold price to get a rough picture on how much u need to pump in monthly as well as whats the min increase per month to at least break even

cheers! time to look at blue chips haha..

[Watchman1957]

Talk about a Gold Bubble and good graphs to go with it
http://seekingalpha.com/article/1762...e?source=email

Silver Could Rise Even if Gold Falls
http://seekingalpha.com/article/1763...le_lb_articles

[Watchman1957]

Don't know about you fellas but I see a buying opportunity. As I said before, if I was based in Singapore I would be showing much more profit on my silver account as I would have sold already last week and back in later this week to buy again.

But since I am not and I am coming in this coming Sunday I believe this latest nice price dip in Sliver (loss of about 9 to 10%) since last Friday and if it sticks around there then I will dfienitely be picking up a few more hundred troy ozs as I do believe it is going higher. Same with Gold, it has gone down about 80 USD a troy oz since Friday and is currently around 1140 USD, if it loses another 20 to 40 USD then I am in for another KG for sure. Both of these have longer legs to run higher, but then that is just my opinion but I am buying for the future, not a quick turnover.

[exxondus]

me ish want but cant afford haha..

all the best to you!