This is continued from my previous topic Buying Gold As Investment, which dated 21st June 2008. So, as everybody known, now we can buy gold as investment through local bank. You can either open gold investment account from Public Bank or Maybank. You will be given gold savings passbook account, which used to record every purchase or sale order.
But, a lot of my readers keep on sending email ask me what’s the different between Maybank Gold Savings Passbook Account (GSPA) vs Public Bank Gold Investment Account (GIA). Previously, I could not find much different between both local banks offer and these are my initial stage of research:
But after going into further details, now I found some interesting part, which can be shared here.
Example 1:
Date: 29 July 2010
International Gold Price: USD 1165 per ounce
Maybank – Gold Investment Account
Selling Price (RM/gram): RM122.40
Buying Price (RM/gram): RM117.42
Price Difference: RM 4.98
Percentage Difference: 4.06%
Public Bank – Gold Investment Account
Selling Price (RM/gram): RM123.06
Buying Price (RM/gram): RM118.27
Price Difference: RM 4.79
Percentage Difference: 3.89%
Example 2:
Date: 30 July 2010
International Gold Price: USD 1168 per ounce
Maybank – Gold Investment Account
Selling Price (RM/gram): RM121.93
Buying Price (RM/gram): RM116.94
Price Difference: RM 4.99
Percentage Difference: 4.09%
Public Bank – Gold Investment Account
Selling Price (RM/gram): RM122.41
Buying Price (RM/gram): RM117.68
Price Difference: RM 4.73
Percentage Difference: 3.86%
So, based on the figures shown on above, I am sure you can see clearly which bank is charging higher rate. So I hope that you will know which bank to go for gold investment in future. Hehehe…
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This is a great comparison. It’s sound great to invest in Maybank Gold right? However, money is an issue for me to do any investment now.
Gold had a very interesting ride this few weeks. I’ve been monitoring these for quite sometime..say 3 weeks :). Not so sure about gold as an investment vehicle though..My plan would be to convert my savings in gold…liquidity would not be an issue now since its a passbook account..target to have at least 3 months expenses saved in GOLD 🙂
O? I thought the author means better invest in Public Bank? (?.?)
author is suggesting that it’s better to invest in Public Bank..
Hi, Is it both banks doesn’t provide buy/sell in their internet-banking portal?
ermm,which one is better?Maybank or Public Bank?…confuse here 🙁
Ic2a, both bank provide daily rates on-line.
http://www.maybank2u.com.my/mbb_info/m2u/public/treasuryRates.do?chCatId=/mbb/Personal/INV-Investment&programId=INV03-Gold&cntTypeId=0&cntKey=INV03.03
http://www.pbebank.com/en/en_content/personal/rates/goldinvest.html
Thanks for the reply.
But what I meant whether can I top-up or withdrawal thru the internet-banking portal?
Online Gold Trading via PBeBank.com
http://www.pbebank.com/en/en_content/personal/investments/gold.html
But Maybank2u:-
Easy access to account details and transaction history
author is suggesting that it’s better to invest in Public Bank…i guest as it offer higher buying price.
but public investment gold not insured by PIDM.
hey, just wondering if let say today i have secured myself 1g rm100, then monday another 1g for rm11o then on tues i decided to sell it with the price 102. How do i sell it?do i sell the first 1g or…
public investment gold not insured by PIDM??? what about investment directly with Publicgold?anyone knw about it?which is better; thru local bank or direct with the merchandiser? tq
Can i apply for gold investment account though online banking?
pcblind: gold investment only can be done through counter….
as summary..lets invest in pbb because of lower price rates..:)
for the past few days the charges are almost the same..both banks are charging at about rm5.50 currently..i thnik maybe maybank is better because it’s 100% backed up by physical gold and u can opt to withdraw them rather than pbb which no longer (actually never) give out physical gold..
Currently gold price keep increase, got forecast that International Gold Price will increase to USD1850/oz (MYR195/gram) by the end of 2011.
This few days price keep increase, Dated 19/4/2011:
Maybank sell price is MYR148.56 Public sell price is MYR149.11 Whether should buy it now??
Guys, may i know the minimum amount to invest in this gold invesment?
Dear author, please be specific as in to which bank should be invested in as some are confused with your blank statement.
Maybank minimum is 1gram. Price is
rm171.56. Check the website.But because the difference is high, it is better to invest in Public bank.
But as if’ve checkd, CIMB is offering the best buying and selling rates. Too bad I invested in maybank. Cheaters.
check CIMB,maybank and public bank and compare the difference.
to see which bank is better, use this equation
‘selling price – buying price’
the one with the lowest margin is the best.