More On Gold Investing In Malaysia

Got the following comment posted in the posting Investing Or Trading In Gold In Malaysia

• JCK said...
  
  1/12/2008 Rm3,119 USD780
  24/2/2009 RM3,713 USD980
  
  Thats a 19% gain over 3 months....none too shabby et al....

JCK,

19%?

Firstly, I did NOT pick and chose the date. In the posting Did I Regret Not Buying Kijang Coins Back In December?, I had chosen 2nd December 2008 for a special reason and the reason was that I had actually chatted about the price of the Kijang coins on a chatbox with a random friend.

And 6 months later on 04 June 2009, I visited this very issue.

Hence what I wrote was NOT based on hindsight.

Hindsight is such a nice thing to have.

For example, from the chart below, around end Feb 2009, everyone could have seen that GOLD hit a high.

Using that point of time would have been easy.

Now I am not sure if my source of data is flawed but it would appear to me that the price of gold in MYR is not as you had posted.

Here is the snapshot of what I have.

And as you can see, the price of gold in MYR was only 3496.00. (If this figure is wrong, do show me why and how. :D )

And this is chart only reflects the selling price of gold. And as mentioned in the posting Investing Or Trading In Gold In Malaysia, there is a price differential when one buys and sells Kijang coins. To sell the Kijang coin back to the bank, this would see the seller lose around 3%, which works out to around 3391.00.

Which works out to a gain of 272.00 or just 8%.

Which is not too shabby as I had mentioned - but not as impressive as your 19% in 3 months!

Of course, if my data or calculations is flawed, I apologise and would be more than happy if you could show me how and where you get your data.

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DISCLAIMER!

It would appear that my data of GOLD in MYR as at 24th Feb 2009 is FLAWED!!

Sorry I made the mistake.

The correct data should be 3713.00.