Gold investment in Malaysia is so confusing! Especially on the buying and selling prices from different sources of gold seller. The prices are all different! This is my first impression about investing gold in our country.
I sketched the above mind map (sorry, it’s a bit blur) to have clearer picture on the options we have where to buy gold from. Basically, I divide it into two categories, Physical Gold and Paper Gold. We only talk about physical gold today.
Where to Buy Physical Gold Bars/Bullions/Coins?
Option 1: Buy Gold From Jewellery Shop
Wah Chan, Poh Kong, Tomei and etc
Generally, there is a recommended retail gold price set by FGJAM (Federation of Goldsmiths And Jewellers Associations Of Malaysia) as the highest gold rate they could sell in the market. Please visit www.fgjam.org.my
Option 2: Buy Gold From Banks
UOB, Bank Negara Malaysia (BNM) and Kuwait Finance House (KFH)
Example: Kijang Emas Gold Bullion Coin from BNM, UOB’s 5 types of Gold Coins (Canadian Gold Maple Leaf, Australian Kangaroo Gold Nugget, Swiss Kinebar, Swiss Pamp Gold, Singapore Lion Gold Coin).
For the gold price rates, you shall refer back to the respective bank. Normally, bank will only buy back gold which you have bought from them previously.
Option 3: Buy Gold From Gold Distributor
Public Fine Gold International Sdn Bhd
It is usually known as Public Gold (brand name). The gold trading company was set up with intention to sell and buy the gold bars and gold coins at international market gold price. To compare the buying and selling gold prices, please visit their website at www.publicgold.com.my