Buying gold online is convenient and safe

For thousands of years, gold remains a popular commodity, both as an ornament as well as an investment to hedge against inflation and to preserve the purchasing power. Hence, over the years, we have seen the price of gold appreciating vis-a-vis the once-popular US dollar.

Here in this country, it is not easy to buy gold in actual form - ingot or gold coins but thanks to the Internet, an interested gold investor is able to purchase gold ingots and US mint coins easily and all that can be done from the comfort of the home. Hope this answers the much-asked question, Where to buy gold online?

Are there Fake gold bars in Malaysia?

One has to be careful these days with the number of counterfeit products out there in the market. Fake eggs, fake milk powder, among others, and now even fake gold bars. Last month, fake gold bars were discovered in Manhattan, New York, and it has been reported that they have even made their way to England.

A customer in New York bought some gold bars and heard that counterfeit gold bars have been going around so he drilled into several only to find tungsten in them. The procedure was so professionally done that it is believed that an international ring could be involved.

Here, a 10-ounce gold bar costing nearly $18,000 turned out to be a counterfeit valued at just $3,600. It's filled with tungsten which weighs nearly the same as gold but costs just over a dollar an ounce.

From Yahoo..

"I really got sick. It's a big amount of money and I could not believe that somebody was so professional and clever, it's perfect," Fadl, the customer said.

Here's why even the reputable merchant got fooled, as explained by Fox:

What makes it so devious is a real gold bar is purchased with the serial numbers and papers, then it is hollowed out, the gold is sold, the tungsten is put in, then the bar is closed up. That is a sophisticated operation.

The sophisticated operation may be global in scope: Gold bars filled with tungsten showed up in England earlier this year. The Secret Service is investigating the counterfeits in New York.

So the next time you go to pick up some gold bars, you may want to bring along your drill.


Makes you wonder whether these fake gold bars have come to Malaysian shores, doesn't it?


Image source: Video grab from Yahoo!

Three more gold firms raided

Oh gosh, following the raid on the gold trading firm, Genneva, a few days ago, three similar gold trading companies have also been raided by the authorities.

Worldwide Far East Bhd, Pageantry Gold Bhd and Caesar Gold Sdn Bhd have been raided for suspected illegal deposit-taking. Among others, they are being investigated for money laundering, tax evasion, false description and appointment of unlicensed agents, according to Bank Negara, the national bank.

Investors have cause for worry as investing in gold is not like buying a pentair pool cleaner or some less pricey item. Interests derived from gold investments are usually used to fund children's education and/or medical bills.

All the three companies are located in the Klang Valley, i.e., Kuala Lumpur area.


Related article:
Bank Negara: FAQs on gold firm raids

Gold trading in Malaysia with Genneva

With low bank interest rate and market volatility, many investors in Malaysia are turning to investing in gold for faster and better returns on their investment. Gold is a recommended hedge against inflation protecting the purchasing power going forward.

Two days ago, a gold trading firm Genneva's offices and its affiliates in the country were raided by a joint-team from four NGOs - the police, Bank Negara, the Companies Commission of Malaysia and the Ministry of Domestic Trade, Cooperatives and Consumerism - for various suspected offences.

Genneva’s Singapore subsidiary was also raided.

Anxious Genneva Malaysia investors and trading agents thronged the company's headquarters in Jalan Kuchai Maju 6 and its Penang hub to find out if their savings are safe in the wake of the raid. Many of them had invested large sums of money in the company's gold trading scheme. More..

Worried investors hope Genneva will be allowed to resume business soon.

A doctor has invested RM400,000 a year ago and has received an average return of RM8,000 monthly. The money is used to fund his son's tertiary education in London. Another daughter has just enrolled in a college in Kuala Lumpur.

Another investor said she depends on the returns on this gold investment for her family needs as she does not have any other income.

Yet another needs the monthly return to fund medical bills.

This is how it works at Genneva Malaysia S/B: (Click to enlarge image)

Background of Genneva Malaysia Sdn Bhd

According to the Gold Bullion Entrepreneurs Association of (GBEAM), there are no clear guidelines regulating any aspect of gold trading in the country and that the trade has been unregulated since the 1980s.

The association believes in the business model by Genneva Malaysia Sdn Bhd as it was based on a genuine platform.

“The action taken by Bank Negara could be based on a misunderstanding. GBEAM hopes that the Government will provide clearer guidelines to gold traders in the future,” the association said in a statement yesterday.


Image source: The Star


Related articles:
- Three Genneva directors, ex-director ordered to defend money-laundering charges
- Six Genneva personnel slapped with over 900 money laundering charges
- Genneva sets ‘gold medal’ record

US coins for sale at the Amcorp Mall flea market

A planned outing to the flea market at Amcorp Mall yesterday had to be called off. Something came up that my girlfriend had to take care of.

It's been quite a while since our last visit to the flea market. In KL or rather the Klang Valley, the flea market at Amcorp Mall is the most true-to-the-word flea market if one is looking for knick-knacks and collectibles of times past. For coin-collectors, there is a wide choice to choose from from the many stalls dealing in coins, including US coins for sale among others. If you are looking for Malaysian coins from as far back as the Straits Settlement era, they are also available.

Sprawled over several floors, Amcorp Mall's flea market is a good place to start if you are looking for antiques and collectibles.

Gold for gold shuttlers at The Olympics

On the frontpage of The Star today is a picture of world number 2 shuttler, Datuk Lee Chong Wei, getting a feel of a whopping RM2mil gold bar which will be given to any Malaysian shuttler who wins a gold medal at the London Olympics.

This is the carrot being dangled by the KL Racquet Club chairman, Datuk Seri Andrew Kam, in an effort to challenge our shuttlers to go for gold at the Games, which will begin on July 27.

Should there be two gold medal winners, they will share the bounty.

London-bound are six shuttlers who were present at the announcement ceremony held at a leading hotel here yesterday. The six shuttlers are Lee Chong Wei, who is realistically the man likely to win Malaysia’s first-ever gold medal (after bagg­ing a silver in Beijing four years ago), Koo Kien Keat, Tan Boon Heong, Chan Peng Soon, Goh Liu Ying and Tee Jing Yi.

KLRC chairman Datuk Seri Andrew Kam showing the RM2mil gold bar to the national shuttlers (from left) Koo Kien Keat, Tan Boon Heong, Lee Chong Wei, Chan Peng Soon, Goh Liu Ying and Tee Jing Yi. On the right is OCM secretary general Datuk Sieh Kok Chi.

The above incentive is in addition to the RM1mil offered by the Government and another private firm.

The Government’s offer through the National Sports Coun­cil’s incentive scheme (first introduced for the Beijing Olympics), includes RM300,000 for a silver and RM150,000 for a bronze.

Under the scheme, a gold medallist will also receive a lifetime pension of RM5,000 a month. A silver medallist will get RM3,000 a month and bronze medallist RM1,500 a month.

3V Holdings Sdn Bhd, a local furniture company, has also stepped forward to offer a RM1mil cash incentive to help boost the quest to win the country’s first Olympic gold medal in London.

If there is more than one gold medallist, the purse will be shared. Should no one win a gold medal, the offer will be extended to the 2016 Olympics in Brazil.

All the best, all Malaysian Olympians!


Source: The Star..Olympic champion shuttler to get RM2mil gold bar

Wedding Bells are Ringing

After the busy first month of the Lunar calendar, weddings are coming back into the routine. The second lunar month is a good month for weddings along with a few other auspicious months of the year for the Chinese community.

Over the weekend, I saw a number of wedding entourages. Though Spring may be in the air in the northern hemisphere, over here, it's wedding bells are ringing again. Being so, jewellers and goldsmith shops here would have new stocks of wedding bands and other jewellery. One would have more choices if one is looking for a diamond engagement ring or a wedding band, for instance.

Where to buy Gold coins and Keep Them Safely

What do you do with a note that is torn off at one of its corners? The other day, I found such a note in my purse - RM5 (polymer) note with a big part of its top-left corner torn off. I am now figuring out how to use it. Any suggestions?

Unlike coins, dollar notes are more susceptible to wear and tear, polymer or otherwise. Coins, on the other hand, add weight to one's bag or pocket.

On the subject of coins and currency, let me digress a little. If you have a grand collection of gold bullion or gold coins (such as the ones in the image that you can buy from the US mint, there is now a place you can store your gold safely closer to home, home being here in Malaysia.

The new storage facility has been set up in Singapore, no need to go to Switzerland to deposit your stash.

All that glitters is not gold in Kampung Melayu, Johore

Indeed, all that glitters is not always gold as what the gold-panners found out at Kampong Melayu, a village near Pontian in Johore, the southernmost state in Peninsula Malaysia.

According to Wikipedia, Panning for gold often results in finding pyrite, nicknamed fool's gold, which reflects substantially more light than authentic gold does. Gold in its raw form appears dull and does not glitter.

Worthless glitter: The shiny stones that created a frenzy in Jalan Mewah in Kampung Melayu. They are believed to have come from a quarry in the Gunung Pulai area near Pontian.

For the past five days, villagers in Kampung Melayu have been digging for these supposed gold deposits on stones along Jalan Mewah.

According to Associate Professor Dr Md Radzuan Junin, head of the Geology Depart­ment of Universiti Teknologi Malaysia’s Faculty of Petroleum Engineering and Renewable Energy, the glittering stones had always been mistaken for gold.

The shiny stones are known as ‘fool’s gold’. They glow in the dark and shine under the sunlight due to its iron sulphide or pyrite content.

Since the stones came from a quarry in the Gunung Pulai area near Pontian, they are actually granite stones embedded with iron sulphide. The stones were dumped in the area together with earth by City Council for a drainage and road-widening project two weeks ago.

“Gold deposits in Johor can only be found at Gunung Arong in Mersing and Desaru. Commercial gold mining activities took place in Mersing several years ago,” added Dr Md Radzuan.

Proprietors of several goldsmith shops in the city centre revealed that the stones do not have any value. One said, “It is not gold at all and I have no interest to buy because it has no value. They can keep the stones as decorative items.”

The road that has recently been widened and paved is now riddled with potholes due to the digging. The area in Kampung Melayu has since been cordoned off by Johor Baru City Council to prevent unnecessary disruption from trespassers although one housewife is determined to "try my luck again and continue until I strike gold.”

In Malaysia, rich gold deposits could be found from Raub in Pahang to Sokor in Kelantan, while gold deposits could also be found in Mersing, Johor, according to Raub Australian Gold Mining Sdn Bhd (RAGM) director Datuk Seri Andrew Kam.

The high price of gold has been cited as a factor that led to a gold rush at this Johor village.

Here's a Google map for an idea of its location. The area in question is the 'B' area which you can enlarge map for a better view.

View Larger Map


Sources:
- Expert: It’s just fool’s gold
- Village still crowded with prospectors
- ‘High price fuelled gold rush’

Buying gold jewelry for Chinese New Year

Many years ago, when gold was cheaper in price, mothers would go shopping for gold jewelry for their daughters and for themselves in time for Chinese New Year.

Back then, crime was also less heard of. These days here in Malaysia, even wearing a gold chain has to be done discreetly so as not to attract undue attention.

Back to present-day, gold price is now at more than US$1700 an ounce and people wear less gold jewelry for fear of it being snatched on the street. However, gold is still a preferred investment for its increasing value, a hedge against inflation and the declining currency devaluation.

Buying gold online

Most of us do some shopping online, some regularly shop online while a small number of us even shop online 100% of the time choosing not to go through the hassle of driving to a physical store thus avoiding traffic jams and long queues at the checkout counter. And for some, shopping online could be the best thing that's ever happened!

We buy books, clothes, shoes, household items, kitchenware, insurance, movie tickets, watches, CDs, DVDs, medications, exercise equipment and lots of others online. Perhaps, it's now time that we also buy gold coin online. Besides the price factor, the next stumbling block to buying gold (or silver and other precious metals) is that it is not that convenient. Wouldn't you agree? For instance, over here, in order to buy gold, one has to go to a bank, open an account by filling in a form before ownership of gold can happen. Maybe it's the same procedure in other countries, I don't know.

I just received an email about a vending machine for buying gold coins in many denominations but that is only in Abu Dhabi. I'm pretty sure this convenience won't happen anywhere else in the world for a long time or perhaps never at all. If you are looking to buying gold online or to buy gold coin, the next best thing would be buying it online. Buying gold online offers many advantages especially if you are shopping with Oxbridge House where they have experts to help you with your transaction whether it's for an investment or a collection.

This is The Seventh Lunar Month

Bad news sells (newspapers). Indeed. Some say to stay away from reading the papers. But then again, how else are we to get news if we stay away from papers and the media. These are the places we get news from. Unfortunately, there is more bad news than good news these days. These are just a couple of the happenings around the world today.

1. London burns. I have a couple of girlfriends who are in England as we speak. I hope the city they are in is not affected by this rioting violence happening in various parts of the country. This chaos does not augur well for a country gearing up for the 2012 Summer Olympics less than a year away.

2. The share markets all over are going south, first in the US with Stocks Suffering Sharpest Drop Since 2008 and the trend spreading to Asia, including Malaysia. Last time I checked at 12:30PM, the FBMKLCI closed at 1461.21 (-35.78). Is a recession in the offing? May be a good time (as any) to further tighten your belts or if you have cash to spare pick up some good stocks (and gold) which has hit a record high?

These are just two examples of bad (understatement) news around and affecting most if not all of us. It's tiring to talk about negative events. Things, bad things, happen this time of the year, the infamous seventh month of the lunar calendar. Gosh, do I sound superstitious or what! No, I'm actually not superstitious, maybe a little, but being of Chinese descent and growing up in a Buddhist/Taoist environment, Chinese family traditions and customs are part of my life.

Anyway, there is this prediction of the seventh lunar month that I read and the events happening right now around the world seem to ring true. According to the reading, this seventh month is set to see more severe negative energy in the world, much more severe than that of previous seventh lunar months. There is prediction of frequent or worse natural disasters, diseases, violence and freak incidents.

On the personal front, this being the month of the Hungry Ghost Festival, best to avoid dark and secluded places and places with negative connotations including hospitals. Children are more vulnerable to the negative effects of such places, so best to avoid bringing them to places with negative Ying energies. This month especially is where (stray) spirits hang around all over. One thing I've often been told as a child is to avoid street corners and junctions especially when night falls lest we bump or rather they bump into us. The seventh month is not a good month for auspicious events including engagements and weddings or moving house, etc. It's even not a good month to go swimming. Old wives tale perhaps but still, better be safe than sorry.

The seventh lunar month began on July 31 ending on Aug 28. From now until the 15th day (Aug 14), you may come across elaborate prayer setups and stage shows. These are normally arranged by business organizations made up of local business owners and they are specifically for the hungry/stray ghosts that are free to roam the earth just this time of the year. Front-row seats at these stage shows are usually left vacant, reserved for the spirits. By midnight of the 15th day, i.e., Aug 14, they would all have to return to where they come from, the underworld.

For families that are not in business, they can pray outside their homes by the roadside. This act of kindness and generosity is optional but it is believed that once a family starts this tradition, it would have to be a yearly affair. Joss-sticks and candles would be lit, food, underworld currency, gold and silver ingots and clothes are the usual offerings. Other than the food, everything else would be set alight. This is the only way, the offerings can be received. This prayer ritual is carried out either on the 14th or 15th evening of the seventh lunar month depending on the dialect clan the family belongs to. Other than the family carrying out this ritual, people normally avoid going near the prayer site so as to avoid bumping into the spirits.

Today is the 10th day of the seventh lunar month of 29 days. Nineteen more days to go before we go into the 8th month, the joyous month of the Mooncake Festival or also known as the Lantern Festival which falls on Sep 12. On a brighter note, mooncakes are already on sale. I saw them on sale at Genting Highlands even in July!

Whatever..
Take care and stay safe, Everyone!


Image source: The Star

All that glitters is Gold

Gold does not go out of style. Despite its high price, goldsmith shops here are still doing good business. People buy gold jewelry as gifts for weddings and new arrivals to the family or simply to add to one's collection though people don't flaunt them so much these days for safety reasons.

Investors, however, are looking at another angle to owning gold. Gold is and has been for centuries been used to preserve one's wealth hedging against inflation, now more urgently needed than ever. You can start small and slowly build up your investment portfolio. You can buy gold coins to start with or open a gold investment account with a bank here.

Spot gold is around US$1,412 per ounce. As for the Ringgit, Ringgit is quoted at 3.0555 to the US dollar.

How to protect your wealth

United States Gold Bureau is where you can buy gold, silver or other precious metals for immediate personal delivery or have them conveniently and safely stored at an independent bank or depository.

If you are looking to invest in gold, the professional staff at United States Gold Bureau will be able to provide you with advice and assistance with regard to your investment needs.

Including gold in your investment portfolio is a wise move. In view of inflation and the fluctuating American dollar, gold is thus a preferred asset over the dollar. Gold can be bought in coins or in bullion which makes it convenient to own should you decide to take personal possession of them. The precious commodity has been in demand for centuries and in these inflationary times, gold is the asset that can protect our wealth and preserve the purchasing power. There is no better asset than gold right now.

Buy Gold to Preserve Wealth and Protect Purchasing Power

If you are looking into diversifying your investment, including gold and silver in your investment portfolio would be a move in the right direction. Gold especially has been a much sought after asset for centuries and in current times, gold is the asset that can preserve wealth and protect the purchasing power. Gold can be purchased in the form of gold coins or gold ingots.

You can purchase gold and silver and other precious metals from United States Gold Bureau where you have the choice to have them delivered to you or have them stored safely at an independent bank or depository. If you need advice, the dedicated and professional staff at United States Gold Bureau would be able to help you with your precious metal investment needs. There is no better time to buy gold than now.

Gold hits a new high - US$1316 an ounce and rising

Just as I'm writing this, gold price has hit US$1316 an ounce! And no doubt, it is still moving up. Gold has been for centuries been valued as a means of trade and as a hedge against inflation and/or a financial crisis. Gold protects wealth and preserves purchasing power.

If you look at the 5-year chart below, you would see that gold was at less than US$500 an ounce in 2005 and today gold is at US$1316, approaching 300% increase!

Gold can be purchased in the form of gold coins or gold bullion. If you are in the market to buy gold, Regal Gold Coins offers only the most internationally recognized gold to include Swiss gold, Gold Sovereign, Chinese gold, Austrian gold, French gold, Mexican gold, Canadian gold coins, American Eagle gold coins, Buffalo gold coin, Gold Proof Coins, Gold Proof Sets and the Krugerrand.

Regal Gold Coins has over 50 years of combined experience in the precious metals investment industry. If you are looking into buying gold or silver either in coin or bullion, or other precious metals and taking physical possession of them or setting up a retirement program through a Gold IRA, their gold investment specialist will be able to assist you. The video below will provide you with a better understanding of investment in gold in a Retirement program.

Gold and Silver Coins from Kelantan

When Kelantan announced that the state would be issuing their own gold coins, coin-collectors must have been happy and looking forward to owning them. In tandem, silver coins were also issued at the same time. The gold Dinar coins and silver Dirham coins come in a few denominations. Both types are sold based on current market prices. The coins were issued middle of last month receiving an overwhelming response, especially the gold coins.

The current popularity of gold both for keepsakes and for hedging against inflation has made gold a much-sought after commodity. Here in Malaysia, it's not easy to buy gold bullion or gold coins though one can sign up for a gold account in banks here.

If you are looking to invest in gold, the United States Gold Bureau is a good place to check out. Their professional gold expert staff will be more than happy to provide you all the information and assistance you need. Now is as good a time to include gold in your investment portfolio.

Get a Free copy of all you need to know about Gold

When people talk about investment, gold and the price of gold are most likely to be included in the discussion especially if investment is for retirement or how to preserve wealth and saving for the future. These days, a smart investment portfolio would be to include gold either in coins or bullions.

Gold has for centuries been a much-prized precious metal. Gold is the ultimate asset. It is the purest form of money, and the oldest, most durable wealth-preserving asset on the planet. We have seen gold price escalating from year to year and investors nowadays are placing physical gold in IRA's. If you had purchased $25,000 of gold bullion coins in the early 70’s and held on to it during the oil crisis, inflation, the various recession cycles, the tech and Internet bubble, 911, and a real estate bubble you could sell that gold today for $524,999.00. Alright, maybe you were not born yet (the 70's) but you get the picture.

Governments can’t devalue gold. It has no debts, no board of directors, no politicians or central bankers that can mess with its value. That’s why gold has survived every economy history has ever witnessed, and preserved investors’ purchasing power over a span of thousands of years.

If you need to find current gold prices and gold charts online, just key in common search terms such as gold prices, gold price, price of gold, gold spot, and spot gold. With the fluctuating dollar, gold is the answer, an asset that can preserve your wealth and protect your purchasing power. You can get a free copy of everything you need to know about gold, gold prices, investment, etc.

Invest in Gold to preserve your wealth

With the uncertain economic conditions in the world today, including precious metals in our investment portfolio is a wise move. Silver production is on the decline and gold has been for centuries been a useful commodity. Its value increasing over time and now serves as a good hedge against inflation thus protecting wealth and preserving one's purchasing power.

Gold can be bought in the form of gold coin or gold ingot. If you are looking into buying gold, the United States Gold Bureau is where you can make your purchase. Their dedicated and professional staff will be able to advise you on the purchase of gold or other precious metals. There's no better time to buy gold than now.

United States Gold Bureau is where you can Buy Gold Coins and Gold Ingots

There's so much hype about gold and the acquisition of it to protect wealth and the purchasing power that you are convinced that an investment in gold is the right way to go? And rightfully so.

Gold and silver are precious metals much sought after from centuries ago and even more so in these uncertain times and the devaluing dollar. Wondering where you can buy gold coins and gold ingots? Well, wonder no more.

The United States Gold Bureau is one gold authority where you have access to the best professionals who are ever ready to help you with your precious metal investment. These days, retirement portfolios would do well to also include gold and/or silver as part of the investment portfolio to protect one's wealth and subsequently purchasing power.