Sunday 5 May 2013

Searching for Gold

    

     During lunch break on Friday, my colleagues and I went to Alamanda. Guess what? Habib store was packed with people...you couldn't even find a spot at the display counter. No wonder la, gold price is on the low side now....after discount, the price is RM152/g at Habib. At S.Wan Jewels, the gold price is even lower...RM 150/g. I was not aware of this jewellery store at Alamanda before this. I was sooo tempted to buy some gold as I noticed S.Wan has many adorable designs, but there were so many women eagerly trying the jewelleries there.Huhu. Definitely have to go gold hunting with my husband and buy some while the price is low...Maybe my dear hubby would like to buy me a present? :P      
   
    Collecting gold has become my new interest recently. Not necessarily as accessories, but gold also can be a form of investment..why I say this?? Gold is inflation proof. Gold price keeps changing, but eventually it will keep on increasing. No matter how low it comes down, it will definitely increase back if not soon, later in the long run.

Which type of gold to buy??? Depends on what is your purpose of buying it and your money of course...there are 916 gold and 999 gold..

916 Gold
1. This gold is usually used to make all the beautiful jewelleries, dinar
2. Cheaper than 999 gold
3. Not very good for investment
4. Accepted at ar-Rahnu, unlike gold bar (gold bar not accepted for the time being)

999 Gold
1. Comes in the form of gold bar mostly, and gold coin 
2. Also available as jewelleries but not suitable for everyday wear as 999 gold is soft and bend quite easily
2. More expensive than 916 gold
3. Good for investment, though
4. Also accepted at ar-Rahnu, but not in gold bar form for the time being

Gold Bar
1. Made from 999 gold.
2. In the form of bar with various weights eg 10g, 20g, 50g
3. Good for investment
4. There are many gold company eg Public Gold, banks and gold shop sell gold bar..you must choose wisely and consider all aspects (its spread of price, terms when the price will be deducted, etc....) for maximum profit...too long to tell you here.hehe..
You can view how Public Gold gold bar looks like here

Gold Coin
1. Purity of 999 gold
2. Various weights available and can be bought at gold company or Bank Negara 

Dinar
1. Purity is of 916 gold
2. Suitable for investment and as a gift
3. Can also be used to buy something eg in Kelantan
4. Public Gold dinar click here

Jewelleries
1. Made from 916 gold mostly
2. Comes in many forms...necklace,bracelet,pendant,ear ring,bangle...
3. Loved by women including me, hehehe..
4. Not very good for investment as you pay extra for the workmanship ('upah') cost, thus if you want to make profit from selling them, you have to sell them when the gold price is higher than when you bought the gold
5. You'll also have to take into consideration that any gold shop or banks or ar-rahnu will buy jewellery at a price after they deduct 25%-30%
6. Survey the price, because every shops sell their gold at different price. If you notice, the gold price/gram and the workmanship cost is cheaper at small and not branded jewellery shop, compared to at 'branded' jewellery shop like Habib, Poh Kong, Tomei.....


So, there you go a little bit about gold. There are many more about gold and this is just my summary based on my little knowledge :) Each type of gold you choose to buy has its own pros and cons...therefore, think hard and choose wisely before you buy. To me, it's better to buy all different types of gold as I mention above, so you can have a variety and get profit in both short and long term :)








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