Posted by KH »
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Last week, I went shopping with my wife looking for jewelry for my brother-in-law. He is getting married end of this year. As Chinese, it is customary for close siblings to give Gold during tea ceremony. We decided that it is best that we buy at today’s price rather than buying year end’s price. This is my first experience in buying gold from a local jewelry shop.
We headed down to Sungai Wang Plaza as there are few big franchise jewelry shops. After checking out few shops, we locked our eyes on a simple but elegant gold 916 bracelet from Tomei Jewelry shop located at BB Plaza. Gold was priced at RM205/gram that day.
We started bargaining.
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Posted by KH »
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^ Photo by http://www.flickr.com/photos/ericteoh/231823932/
May Malaysia be in peace & prosper many more years to come. Enjoy your long weekend and drives carefully!
P/S: Do you know today is also Lee Kuan Yew’s birthday?
Wiki: http://en.wikipedia.org/wiki/Malaysia_Day
Posted by KH »
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I was doing my regular check on Kijang Emas price via Bank Negara website and to my surprise, the difference between the buying and selling price for 1 oz of Kijang Emas is now RM233!
Wow, that’s a huge gap!
I previously wrote an article about spread back in July and I shared with you how we can calculate the spread for gold and silver. You can read the post here: Understanding Spread for Buying and Selling Gold or Silver
It’s a little bit passed 2.00 am now so the price I am referring now is actually yesterday’s price. The buying price for Kijang Emas is RM6,014 and selling price is RM5,781. RM233 is an huge price gap in Kijang Emas price history.
Armed with Excel, I dived into the historic data on Kijang Emas prices and crunched it to check if the spread is still the same during this current wild bull ride on precious metals.
Formula for Buy and Sell Spread:
(Sell Price – Buyback Price)/Buyback Price X 100 = Spread %
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Posted by KH »
Add Comment »InvestSilverMalaysia.com would like to take this opportunity to wish all our Muslim friends a Happy Hari Raya and safe balik kampung journey.
Also, to all Malaysian, HAPPY MERDEKA DAY!!!
Enjoy the holiday and Cheers!
Posted by KH »
11 Comments »Its Friday today and I am going to make this post K.I.S.S.
Here are five quick tips for buying and investing silver in Malaysia:
Tips #1 – Buy Silver Bars
Silver bars are imported under HS-code 7106. Silver coins are under HS-code 7118. HS-code 7118 says, “Coin (other than gold coin), not being legal tender, is subject to import duty of 5% and sale tax of 10%”.
Buy silver bars and skip the 15% import tax premium.
Tips #2 – Go Bigger Oz
Buy 1 x 10 oz bar instead of 10 x 1 oz bar. Buy 1 x 100 oz instead of 10 x 10 oz. The bigger oz you buy, the bigger saving you get on minting. Scottsdale Silver’s 10 oz and 100 oz comes with a cool stacking feature.
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