Archives for August, 2011


Mahathir: Gold Dinars Should Be the Basis of Currency

Tun Dr.Mahathir Mohamad talks about Islamic Banking and recommending the use of gold dinars as basis of currency instead of the US dollars.


Maybank: Discontinuation of Physical Gold Wafers

Maybank gold saving account

Maybank no longer backs its paper gold with physical gold. They may say they does. You will never know.

Dear Valued Customer,

With effect from 16 May 2011, Gold Savings Passbook Account (GSPA) has been renamed as Maybank Gold Investment Account (MGIA). In line with MGIA’s enhanced features, existing GSPA accountholders who wish to withdraw from their account in a form of gold wafer may do so, subject to availability as per Clause 16.2 of the GSPA Agreement with a premium charge applicable. Accountholders have until 2 September 2011 to withdraw in the form of wafers, after which the available options of payment will only be in the form of cash or credit into their accounts.

For GSPA accountholders who are holding Maybank gold wafers, you may convert the gold wafers to cash or credit them to your account at the prevailing market price at selected Maybank branches from now till 2 September 2011. The selected Maybank branches are listed below:

Kuala Lumpur Main Penang Main Kuantan Main
Bukit Bintang Alor Star Main Seremban
Kota Bahru Main Malacca Main Shah Alam
Tawau Ipoh Main Wisma Satok
Kota Kinabalu Lahad Datu

Should you still wish to have the option of retaining the gold in physical form, we would suggest that you opt to purchase the Kijang Emas gold coin issued by Bank Negara Malaysia which is available at selected Maybank branches.

Thank you.

Those who invested in Gold Savings Passbook Account (GSPA) will have until 2nd of September to withdraw their physical gold wafers. Thereafter, your gold investment will in paper format – a passbook.

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Gold-to-Silver Ratio: What you need to know

The first thing you need to know about gold to silver ratio is 1 unit of gold buys 44 unit of silver today.

Gold to Gold Ratio 1:44
^ Ratio of Gold:Silver on 17th August 2011


“A ratio (X:1), demonstrating how many ounces of silver (X) it takes to purchase one ounce of gold – the fixed variable. Investors use the fluctuating ratio to evaluate the relative value of silver, which determines if it’s an optimal time to purchase gold or silver. It also helps investors diversify their precious-metal holdings.” –

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The New $100 Dollar

While Bank Negara has updated our coins to stainless steel, the United State is busy printing their new $100 dollars.

The United State’s new $2.4 trillion dollars will look like this:

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Ounce, Troy Ounce, Gram, Dinar, Dirham and Tael?

Unit of MassWhen investing in Precious Metals, you will notice that unlike shares, it is measured in weight. Common terms are ounces and grams but do you know the different between ounce and troy ounce? If you happened to be in Kelantan, you will see gold or silver measured in dinar and dirham.

So, what are they?

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