Gold trade

[Alejandro]

Due to rising trend in gold prices, it is highly recommended precious metal make investment. The rising prices have maintained its trend for quite a few months now and I wonder that where the gold price will stop as I t has already become out of reach commodity as far as common public is concerned.

[MLJ]

UncleLim:

Hi everyone. Investing or \"trading\" in gold is like any other investment. Prices go up and prices go down. If you are in it for a small return, just above what the banks can give you, I guess it is ok. If you want to make a fortune, it is better to join investment forums whether the more professional trading instruments are discussed. Just remember that the greater returns require greater risks. Nobody wins all the time.

What are some of these investment forums that are good? I am interested to know more about gold. Heard from friends it is a good investment but still feel a little doubtful.

[UncleLim]

MLJ:

UncleLim:

Hi everyone. Investing or \"trading\" in gold is like any other investment. Prices go up and prices go down. If you are in it for a small return, just above what the banks can give you, I guess it is ok. If you want to make a fortune, it is better to join investment forums whether the more professional trading instruments are discussed. Just remember that the greater returns require greater risks. Nobody wins all the time.

What are some of these investment forums that are good? I am interested to know more about gold. Heard from friends it is a good investment but still feel a little doubtful.

try the Kitco gold forum.

https://www.kitcomm.com/index.php

[micollh]

my fren show me another case of gold trade cheating case… yest chiense newspaper… many aunties losses money… but the news did not specify the company name…

[MLJ]

Thanks UncleLim.

[pojo]

Does anyone know whether 7% GST is charged when you buy physical gold, say, from UOB? I believe so. Also similarly is 7% GST charged when you buy gold jewellery at a goldsmith. If so, then buying physical gold seems like a bad investment because of GST. Compared with the 1% or so brokerage fee for shares, the transaction cost for physical gold is 7%. Which means that the gold price must rise more than 7% before you breakeven. Please correct me if I am wrong.

[UncleLim]

pojo:

Does anyone know whether 7% GST is charged when you buy physical gold, say, from UOB? I believe so. Also similarly is 7% GST charged when you buy gold jewellery at a goldsmith. If so, then buying physical gold seems like a bad investment because of GST. Compared with the 1% or so brokerage fee for shares, the transaction cost for physical gold is 7%. Which means that the gold price must rise more than 7% before you breakeven. Please correct me if I am wrong.

You are correct about the 7% GST. That is if you take delivery of the physical gold bars and bring it home. If you buy and leave it with UOB, you will collect your Gold Certificate of ownership, in which case GST does not apply.

[pojo]

Thanks for the confirmation and clarification, Uncle Lim.

[River]

micollh:

DesertWind:

Sounds really familiar. I was approached by one insurance agent about this physical gold investment before. Problem is the gold is sealed and you cannot break the seal. So how you know the gold is real? It takes trust. The risk is if the co. decides to close shop, you end up having the gold and the gold is not real, then how?


The returns are very attractive indeed. But if really interested may be better to go OUB and buy their physical gold cert. or bar.

For me, I siam by saying my father was in hospital (which was true) and escape that period of pestering.

but he told me he bring the gold to pawn shop pretend want to check the value.. and it's confirm is real

As far as I know, the gold given by Genneva is real. The downside is that your risk is 25% of your capital should the company go bust. The upside is 2% /mth is a real good deal. I classify this investment as moderate risk and high return.

[WeiHan]

It sounds quite ok to me as long as the gold they give you is real. The most you risk is 25% of your capital. But I guess, getting a gold bullion from genneva is 7% GST exempted? If the gold price goes up, you just keep the gold bullion on top of the 24%/per annum interest.