^ Screen captured from Kitco.com, 11 October 11.15pm
Another evidence that physical silver is in crazy demand.
“Due to recent worldwide surge in the demand for precious metals, we are experiencing extraordinarily high transaction volumes. As a result, you may experience delays in some of our services over the coming days.
We apologize for any inconvenience this may cause you. We would like to thank you for your patience and for doing business with Kitco.”
In the following video, CEO of APMEX, Micheal Haynes explains the reason behind the current precious metals free fall and the brisk sales that APMEX is currently having. [Read more →]
CFP Bryan Zeng shares his insight on Gold and Silver investment.
Q: How do you see Precious Metals investment in Malaysia market?
Bryan: It is definitely a growing market due to increasing awareness and demand from the public lately. Traditionally the Precious Metals market is dominated by Banks, Goldsmiths and Jewelers, now we can see increasing numbers of private companies that distribute or trade precious metals.
Similarly the product range has also increased dramatically, there are various physical and paper based Precious Metals products available in Malaysia now. In fact in some cases the situation has become “feverish” with “Gold Investments” or “Alternative Investments” seminars all over town.
Q: What is the current Malaysian’s mentality on Precious Metals investment? Are Malaysian aware of Precious Metals investment pros and cons?
There is unquestionably an increase of awareness on the benefits or the need to invest in Precious Metals. You can now hear people chat or discuss about Gold or Silver in Facebook, offices or at their favorite coffee shop. It’s just like how they have discuss about properties, stocks, cars and the “Next Greatest Opportunity”.
There would be obviously some people who are well informed and others who are less informed of the risks, benefits, costs, and the variety of options to invest in Precious Metals. I applaud your effort in creating and maintaining this blog which provides a concise flow of useful and up to date information to fellow Malaysians. [Read more →]
I went to UOB at Jalan Raja Laut around lunch time today to do my regular Ounce Cost Averaging on Gold. I usually buy gold bullion at beginning of the month. I took my queue ticket and patiently waited for my turn.
When my turn was up, I walked to the counter and said to the banker, “I would like to buy gold bullion coin”.
Last week was a bloodbath. Gold fell from high of USD1900/oz to USD1657/oz while Silver fell from high of USD42/oz to about USD30/oz.
It all started with Operation Twist 2. A cleverly engineered “economy rescue plan” by Federal Reserved’s Chairman. Last Thursday, Mr. Ben Bernanke announced Federal Reserved’s plan to sell off $400 billion worth of short-term debt and using it to purchase $400 billion of long-term Treasury bonds. This is “rescue” idea of keeping low interest rate for many years to come. [Read more →]
