Gold Club Asia Forums

Go Back   Gold Club Asia Forums > Gold Club Asia > Precious Metals - Gold & Silver

Reply
 
Thread Tools Display Modes
  #21  
Old 22-09-2007, 11:42 AM
Aigburth Aigburth is offline
Senior Member
 
Join Date: Aug 2007
Posts: 100
Default

I opened a Silver saving account with UOB yesterday. Quite straight-forward. To buy the silver, you just need to go to any UOB saving/withdrawal counter. However when I was there, they needed to check with their office before confirming my order. But that did not take long. I had a chit-chat with the girl at the counter when she asked me why I am buying silver now given the recent jump in silver price. Later her supervisor came over to confirm my order and added that she also has a silver account but she is thinking of selling due high price. She was interested to know why I was buying. I told her my view is that this is just the beginning of the bull-run and she may want to consider waiting for a while before selling.
Reply With Quote
  #22  
Old 22-09-2007, 11:57 AM
keano's Avatar
keano keano is offline
Senior Member
 
Join Date: Aug 2007
Posts: 818
Default

Due to recent spike in prices, anyone bought gold recently?
Reply With Quote
  #23  
Old 22-09-2007, 12:00 PM
shimo's Avatar
shimo shimo is offline
Member
 
Join Date: Aug 2007
Posts: 85
Default

i actually wanted to get a few more bullions after our last meeting but getting into silver now seems more attractive to me
Reply With Quote
  #24  
Old 22-09-2007, 12:26 PM
holist holist is offline
Banned
 
Join Date: Aug 2007
Posts: 1,042
Default

Quote:
Originally Posted by mon_mnl View Post
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.
Please note on Saturday there is a restriction by UOB on the amount of gold and silver you can buy/sell. Gold 1000gm and silver 500oz.
http://www.uob.com.sg/pages/personal...als/index.html
Reply With Quote
  #25  
Old 22-09-2007, 12:51 PM
Aigburth Aigburth is offline
Senior Member
 
Join Date: Aug 2007
Posts: 100
Default

Quote:
Originally Posted by shimo View Post
i actually wanted to get a few more bullions after our last meeting but getting into silver now seems more attractive to me
Same here. I stop buying gold a few weeks back when prices moved up. Now into buying silver. Looking at buying gold again next week as I think gold price may move down then.
Reply With Quote
  #26  
Old 22-09-2007, 01:10 PM
kengjio kengjio is offline
Junior Member
 
Join Date: Aug 2007
Posts: 6
Default

a hypothetical qn..

say, after a few years...USA hyperinflation and gold went up to US5000/oz.. wat will happen after dat... what will cause gold price to crash?
Reply With Quote
  #27  
Old 22-09-2007, 02:16 PM
Gold_newbie Gold_newbie is offline
Senior Member
 
Join Date: Aug 2007
Posts: 1,440
Default

Quote:
Originally Posted by Aigburth View Post
I opened a Silver saving account with UOB yesterday. Quite straight-forward. To buy the silver, you just need to go to any UOB saving/withdrawal counter. However when I was there, they needed to check with their office before confirming my order. But that did not take long. I had a chit-chat with the girl at the counter when she asked me why I am buying silver now given the recent jump in silver price. Later her supervisor came over to confirm my order and added that she also has a silver account but she is thinking of selling due high price. She was interested to know why I was buying. I told her my view is that this is just the beginning of the bull-run and she may want to consider waiting for a while before selling.
ask the supervisor to join GCA..
Reply With Quote
  #28  
Old 22-09-2007, 03:47 PM
crazyguru's Avatar
crazyguru crazyguru is offline
Senior Member
 
Join Date: Aug 2007
Posts: 191
Default

Quote:
Originally Posted by kengjio View Post
a hypothetical qn..

say, after a few years...USA hyperinflation and gold went up to US5000/oz.. wat will happen after dat... what will cause gold price to crash?
IMO, when US goes into a hyperinflation, gold will not be just US$5,000, it will be much more higher. What will I do? Keep my gold and live everyday simply until the US comes up with a gold-backed monetary system. Things will then start to get back to normal, which is the point where you can start selling some of your gold to buy other things like properties (Sentosa Cove?).
__________________
Riding the Silver wave
Reply With Quote
  #29  
Old 22-09-2007, 04:02 PM
Gold_newbie Gold_newbie is offline
Senior Member
 
Join Date: Aug 2007
Posts: 1,440
Default

Quote:
Originally Posted by crazyguru View Post
IMO, when US goes into a hyperinflation, gold will not be just US$5,000, it will be much more higher. What will I do? Keep my gold and live everyday simply until the US comes up with a gold-backed monetary system. Things will then start to get back to normal, which is the point where you can start selling some of your gold to buy other things like properties (Sentosa Cove?).
this is unlikely to be the scenario i think given that real estate should continue trend with inflation/hyperinflation pretty well (unless you have many kgs of gold). For sure, you can sell off your gold bars and pay off that loan.

whether gold back or not, i don't know but it will probably need to be a currency that is able to restore confidence of the people.
Reply With Quote
  #30  
Old 22-09-2007, 04:42 PM
iamsimone iamsimone is offline
Junior Member
 
Join Date: Aug 2007
Posts: 21
Default

Spread of UOB Silver acct is quite high ... anyway sold 500oz today. May buy silver again thru futures ...
Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT +8. The time now is 09:03 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2019, vBulletin Solutions, Inc.