GSPA: I have finally done it!

I have finally done it. I read in a blog, about investing your money into Gold at www.jutawanemas.com and it gets me excited.So since Aug 09 i have been monitoring the Maybank Gold Savings Passbook Account gold counter rate (monitoring..!!! should have done it earlier anyway). At that time, it was RM109/gram. Yesterday, when i have finally did it on 1 Dec 09, i bought it at approximately RM131/gram.
I have wasted 3 months, and it has increased RM22/gram. But never mind, i know it's all worth it. The Maybank rep who attended to me bought 3 years ago at less than RM100/gram. Boy.. if only i know this earlier. One of the benefits in buying gold this manner is, you're buying the 99.9% Gold.

This is actually a family investment fund. We have abit of extra that has been in my account about a year. So this year, I have convinced my mom that we need to do something about it. InsyaAllah.

I have a new year resolution now. I am gonna do alot more investing rather than spending. :) Macam tak percaya jer but just stay tune, i will keep on updating this blog for more info/ investment activities.

Abit of info on Maybank GSPA:
It is very much like an a savings book but you invest or buy gold instead. You dont get physical gold, (which is better since you dont have to worry about keeping the gold at safe deposit etc) but the passbook is used to state the price and number of grams you have.

There is a minimum for you to buy the Gold at Maybank and compare to Public Bank, it is better for small investor like me. You can start to purchase a minimum 5 grams initially and subsequent investment must not be less than 5 grams.
To withdraw the gold you have 2 options.

1. Gold Wafers @ 10,20 or 50 can be withdrawn at selected branches. One in Shah Alam another one in KL if i am not mistaken.
2. Another way is of course thecash - the gold holdings can be converted to Ringgit Malaysia equivalent at prevailing market gold price.

Oh dear I am still excited about this and am going to learn more about it!