Gold Price Going Up!

Based on the Gold price statistic since the year 2000, I think gold will be one of the best investment for the year 2010. If you have excess money in your bank saving or fixed deposit or if your intend to diversify your investment portfolio gold will be a good option. But, plan your investment well do not put all your eggs in one basket!

Even for gold try to invest in both physical gold bars and also paper gold. For Gold bars if you have contacts or friends who are doing gold business try to get gold bars at a wholesale price, you can get 5-10 RM (2-3 USD)/gram below market price. If your buy it from Jewelry shops the price is around 5 to 10 RM higher then wholesale price. In Malaysia, you can get god bargain at jewelry shops in Masjid India.

As for paper gold purchase my recommendation is Public Bank's Gold Investment Account. Gold Investment Account is an account which allows individual customers to purchase the purest available gold commodity in 99.9% fineness at daily prices for 1 gram in Ringgit Malaysia (RM).
A passbook will be provided to the account holders and every purchase/sale order will be recorded in the passbook. Anyhow, you need to make 20grams minimum purchase to open a new account. Just to caution you, the buying back price will always be lower then the selling price or the market price. It is usually around 4 to 5 ringgit lower. Please ask for buying and selling price before you open an account.

Example; If you buy at RM126 per gram, your selling back price will be around RM122 per gram. So you need to wait until your selling back price move above RM26 to make profit.

For further details visit http://www.pbebank.com/en/en_content/personal/investments/gold.html

If your want a better bargain and intend to hold physical gold bars please contact me at jayaarram@gmail.com for further information and tips on where to buy and sell.

Below is the Gold price recaps for your reference.

Source: Prediction by Robert Kiyosaki http://finance.yahoo.com/print/expert/article/richricher/211091


YEAR GOLD
2000 $ 273
2001 $ 279
2002 $ 348
2003 $ 416
2004 $ 438
2005 $ 518
2006 $ 638
2007 $ 838
2008 $ 882
2009 $1100 (approx)


By the end of 2010, I predict gold will be at $1,775 an ounce. If Israel attacks Iran, these predictions will be blown away.


Which means the price of gold will hit RM200 per gram up by around 60% from the current price which is around RM125 per gram. Lets say you invest in 100gram which will be RM12,500 your return will be around RM7,500 (RM20,000 -RM12,500). Of course all this are just a prediction and there is no guarantee but, even if the price didn't increase you still can keep the gold bar until the price increases.