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  #11  
Old 21-09-2007, 09:17 PM
Gold_newbie Gold_newbie is offline
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*agree wholeheartedly* when you have "saved" enough in the savings account, just cash out and get the physical coin instead.
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  #12  
Old 21-09-2007, 09:38 PM
Aigburth Aigburth is offline
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Default UOB Gold Certificate

If you have enough ammo, you should consider UOB gold Certificate instead of their gold saving account. Although both are paper gold, the gold certificate have 2 main advantages;

1. The cost of gold cert is lower than gld saving account
2. You can withdraw physical gld instead of cash for gold certificate, which is a big plus point. Just pay the GST when you take the physical gold.

However the negative point is that the min lot size is 1 kg.

I will pick up my 1st UOB gold cert next week and I will confirm with them about the withdrawal of physical gold.
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  #13  
Old 21-09-2007, 09:42 PM
Gold_newbie Gold_newbie is offline
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great, please update us. i've been wondering about the process and how it works..
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  #14  
Old 22-09-2007, 07:51 AM
mon_mnl mon_mnl is offline
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I have noticed that spread (difference between buy and sell price) for UOB Silver SA is different on Saturday compared to weekday. Weekday spread $0.24 while Saturday is $0.16. Has anyone tried buying or selling on a Saturday?
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  #15  
Old 22-09-2007, 09:16 AM
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crazyguru crazyguru is offline
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Not an expert but this is my opinion.....

Its always difficult to adapt to a "physical" investment approach especially if you are used to stock trading.

The main differences betwen buying paper(gold saving and certificate) gold against physical is that you need to trust the bank that you are buying the paper from to fulfill its promise to deliver. I trust UOB now but when situation gets out of hand(US attack Iran, hyperinflation), I am not sure if they will still be as trustworthy as now. Will they say that exchange of gold is temporary not available but they promise to do it once situation improves?

In terms of paper, I will prefer Silver(50% of investment)....higher potential gain but sell it before things get out of hand. Use your gain to buy gold then.
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  #16  
Old 22-09-2007, 10:03 AM
Cow
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Yes, I agree with Crazyguru. The hassle of getting significant amounts of physical silver is too much of an obstacle for me. The custom, the GST, the freight, the storage, etc...

I just invest in UOB silver savings and will divest before situation gets out of hand, just like Crazyguru. However, I do wanna try to get hold on a small amount of physical silver for fun and collection.
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  #17  
Old 22-09-2007, 10:03 AM
khkh
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Quote:
Originally Posted by mon_mnl View Post
I have noticed that spread (difference between buy and sell price) for UOB Silver SA is different on Saturday compared to weekday. Weekday spread $0.24 while Saturday is $0.16. Has anyone tried buying or selling on a Saturday?
Me. Sometimes it works to my favour sometimes not, but the difference is only about $0.10 so not very huge. The usual weekday spread is $0.24-26 but during the severe selldown recently, I notice it went as wide as $0.32. Moreover, Silver savings annual charge is also higher than Gold's. Gold savings spread is difference of $0.10 whether Sat or weekday. The risk premium in silver is much higher indeed, but I think it's still good to have some exposure to Silver.
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  #18  
Old 22-09-2007, 10:23 AM
mon_mnl mon_mnl is offline
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Quote:
Originally Posted by khkh View Post
Me. Sometimes it works to my favour sometimes not, but the difference is only about $0.10 so not very huge. The usual weekday spread is $0.24-26 but during the severe selldown recently, I notice it went as wide as $0.32. Moreover, Silver savings annual charge is also higher than Gold's. Gold savings spread is difference of $0.10 whether Sat or weekday. The risk premium in silver is much higher indeed, but I think it's still good to have some exposure to Silver.
hi khkh,

Thanks for your reply. I finally managed to contact the UOB call centre and they likewise confirmed we can buy/sell Gold/Silver SA on Saturday through their branches that are open. I'll keep in mind the difference in spread during Saturday - might come in handy when I want to buy/sell larger amount.

I've been buying through Gold/Silver SA and plan to switch to physical gold or gold cert at some point in time.
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  #19  
Old 22-09-2007, 10:57 AM
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Quote:
Originally Posted by Cow View Post
Yes, I agree with Crazyguru. The hassle of getting significant amounts of physical silver is too much of an obstacle for me. The custom, the GST, the freight, the storage, etc...

I just invest in UOB silver savings and will divest before situation gets out of hand, just like Crazyguru. However, I do wanna try to get hold on a small amount of physical silver for fun and collection.

Hi Cow, just to clarify.... I may not put anything in Silver saving account, in fact I have nothing in PE yet. But if I do anything non-physical, Silver saving acc will be the top choice, else it will be 100% physical.
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  #20  
Old 22-09-2007, 11:09 AM
Gold_newbie Gold_newbie is offline
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Quote:
Originally Posted by crazyguru View Post
Hi Cow, just to clarify.... I may not put anything in Silver saving account, in fact I have nothing in PE yet. But if I do anything non-physical, Silver saving acc will be the top choice, else it will be 100% physical.
same here.

so far 100% physical, only non-physical is UOB gold account using CPF.
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