Any one heard of Gold bar trading?

[eroken]

bro WFS take it easy ,

At least you dont lose much& still got pure gold on hand

[ThreeEmperor]

good read.
siam if sound so tempting...

[eastsider]

I am interested in buying the actual gold, not the paper only, probably 30g.

I heard that we can go to the banks to buy but just wondering if anyone has more info on this before i call/go there.

Lets say today 28 sept, do all banks sell at te same rate? Or its up to then how mch they wana sell?

If register using a foreign passport n bring out the gold, u pay 7% gst first n claim the 5.5% tourist tax rebate as per normal at the airport?

Thx

[jasonlimqs]

I am interested in buying the actual gold, not the paper only, probably 30g.

I heard that we can go to the banks to buy but just wondering if anyone has more info on this before i call/go there.

Lets say today 28 sept, do all banks sell at te same rate? Or its up to then how mch they wana sell?

If register using a foreign passport n bring out the gold, u pay 7% gst first n claim the 5.5% tourist tax rebate as per normal at the airport?

Thx

http://www.uob.com.sg/personal/inves...us_metals.html

https://uniservices1.uobgroup.com/se...560&height=400

[feudallordcult]

I love this thread! Anyone else buying physical gold from uob? I just bought five pcs of pamp to keep. Hopefully gold bubble won't burst.

[stektan]

Check out goldclubasia.com.. That's where all the gold and silver bugs gather.. Been spending a lot of time there.

[striker968]

Hi all,

I would like to check with fellow mates here if anyone heard of the above?

During my sales visit, i overheard my client talking about it and to simplified and short cut as below;

Buy gold bar from Company A which they will pay you 1.7% interest every month for 3 months with a black & white contract that they will buy back from you at the same price that you purchased 3 months back, which you get back for prinicpal amount but what you gain is the 3 months interest.(If after 3 months, you find that the gold price increase, you can choose to keep the gold bar or sell outside if you can get a better deal than them and company A will only offers 3 months buy back)

Sorry if I confuse as I only managed to hear something like this,

Anyone came across this type of lobang? Not so cash rich to buy gold bar,kekeke!

Bro u got check what their gold price compare to market bo? Is 20% or more above market rate. They give you OTP but did not tell you if they dun honor it how?

[feudallordcult]

just back from uob. bought two more pcs of pamp gold. KNN, just one freaking day and I kena charged 240 more!!! I can buy an alligator strap or even better, go for massage. Oops...

[feudallordcult]

Just buy gold Rolex, easy and can admire and tell time

I totally agree but when sh*t hits the roof, gold rollie prices also tank. That said, I hope to eventually afford a full gold subbie when I complete my further studies. That's still a long way to go. Last I checked with sincere vivo, price was abt 45k.

[Speedmaster1979]

Bro u got check what their gold price compare to market bo? Is 20% or more above market rate. They give you OTP but did not tell you if they dun honor it how?

Hi,

Yes, I did in depth search & understanding on such gold trading companies and their gold bars are indeed higher than market at least 20% to 30%. I guess its how their scheme works in order to give you the 1.7% payout every month for 3 months which adds up to 5.1% for 3 months.

To me, it is still a form of investment and for investment, definately got risks. And for such cases, the risk is 20% to 30% as be it how strong the company, we say worst case, the company folds down, the clients do not lose everything as they are still holding a piece of gold bar with at least 60% to 70% of value and not a piece of bull**** paper/contract.

The setback is that you are buying a gold bar at a very high price than market and should you pawn or sell, sure to lose out and that is your loss

It boils up to individual's thinking & holding power. For example, if I am rich & does not need the cash, I can choose to keep the gold bar cause as long as I don't sell/pawn, i don't consider loss, it is only that I may need to keep the gold bar for a very very very long time as gold price does not shoots up overnight to match you buying price.

To me, it is still like a form of investment though they emphasised they are NOT and what they are doing is solely trading(Buy/sell) and not regulated by MAS and keep educating the public that gold is appreciating its value and has its value & demand. And those who purchased usually are the ones who loved gold, know its value and willing to do a risk rather to keep the money in the bank and earn the peanuts interest.

I also asked them the difference from buying from them compared to UOB since UOB is selling the cheapest & only bank that can sell gold bars is only that UOB does not give you pay out every month. It is just like when gold price is low, you buy and keep under your pillow and wait for it to appreciate then sell off to make the profit whereas theirs is trading gold in a way that you hold the gold (3 months contract) and they will pay you 5.1% in total after 3 months and you are free to terminate the contract which they will buy back the gold bar at the same price they sold you 3 months before OR choose to re-contract for another 3 months cycle but subject to their current price of the day you re-contract(If price drop, they refund you and if it rises, you top up the difference)

Scam or not, you decide.....kekeke!

The last question of yours to me is as good as the company folds down. As if not, they have everything in black & white should they don't honor the buy back but if they folds down, whatever in black & white also useless. You are left with the gold bar whether you wish to keep it OR pawn/sell it if need the money badly.

The above are my findings from attending the seminar talk........................

[gohaj]

Hi,

Yes, I did in depth search & understanding on such gold trading companies and their gold bars are indeed higher than market at least 20% to 30%. I guess its how their scheme works in order to give you the 1.7% payout every month for 3 months which adds up to 5.1% for 3 months.

To me, it is still a form of investment and for investment, definately got risks. And for such cases, the risk is 20% to 30% as be it how strong the company, we say worst case, the company folds down, the clients do not lose everything as they are still holding a piece of gold bar with at least 60% to 70% of value and not a piece of bull**** paper/contract.

The setback is that you are buying a gold bar at a very high price than market and should you pawn or sell, sure to lose out and that is your loss

It boils up to individual's thinking & holding power. For example, if I am rich & does not need the cash, I can choose to keep the gold bar cause as long as I don't sell/pawn, i don't consider loss, it is only that I may need to keep the gold bar for a very very very long time as gold price does not shoots up overnight to match you buying price.

To me, it is still like a form of investment though they emphasised they are NOT and what they are doing is solely trading(Buy/sell) and not regulated by MAS and keep educating the public that gold is appreciating its value and has its value & demand. And those who purchased usually are the ones who loved gold, know its value and willing to do a risk rather to keep the money in the bank and earn the peanuts interest.

I also asked them the difference from buying from them compared to UOB since UOB is selling the cheapest & only bank that can sell gold bars is only that UOB does not give you pay out every month. It is just like when gold price is low, you buy and keep under your pillow and wait for it to appreciate then sell off to make the profit whereas theirs is trading gold in a way that you hold the gold (3 months contract) and they will pay you 5.1% in total after 3 months and you are free to terminate the contract which they will buy back the gold bar at the same price they sold you 3 months before OR choose to re-contract for another 3 months cycle but subject to their current price of the day you re-contract(If price drop, they refund you and if it rises, you top up the difference)

Scam or not, you decide.....kekeke!

The last question of yours to me is as good as the company folds down. As if not, they have everything in black & white should they don't honor the buy back but if they folds down, whatever in black & white also useless. You are left with the gold bar whether you wish to keep it OR pawn/sell it if need the money badly.

The above are my findings from attending the seminar talk........................

Can u educate us on pros and cons?

Obviously, buying from bank is cheaper.
So if u have the money, why buy from this type of gold companies? Price is higher, risk is higher, etc. What is the obvious advantage of buying from gold companies instead of the bank?

Sorry, I cannot catch the 'obvious advantage' after reading the posts yet. Need your help on this.

[gohaj]

buy from pawnshops, they don't charge GST and sell them cheaper than buying a new piece. You are buying to keep and sell in future might as well buy from pawnshops cos it will lower your cost.

But it's still going at a premium over spot, just lesser premium. So don't expect spot price.

Seem like pawnshop price is also not cheaper than the bank. Which shop is cheaper than the bank? Can advise?