Malaysia Gold Investment

After trading in a tight range for a few days, gold broke lower yesterday. Selling came on the back of Weak investment demand, and selling in the physical market; Dollar strength, which pushed the greenback from just below USD1.4300 to as low as USD1.4130 yesterday. The trigger for this rally in the dollar was a much weaker-than-expected US consumer confidence data reading (down m/m in July). We have seen some physical gold buying coming through on approach of USD930, which we believe should support the gold price. We see limited upside to gold at this point, and believe bias remains to the downside. After yesterday’s sharp fall, weak long positions could be hesitant to re-enter the market. Gold support is at USD932 and USD926, with resistance at USD949 and USD964. Public Bank Gold Investment Account as at 29/07/09 3:50 PM Selling Price Buying Price 1 gram RM 108.9100 RM 104.6700

Malaysia gold is drop back to RM106 per gram returned all last week gain. As long as gold can hold on around RM 106 the gold bull run may still true for this year. For now buy in gold in ever dip for long term investment. Gold Investment Account as at 29/07/09 9:20 AM Selling Price Buying Price 1 gram RM 108.9800 RM 104.7300

Yesterday Malaysia gold price jump high to RM110 at closing but along the day PBBank selling price stop at RM110.86 and buying price at RM106.28 if base on yesterday exchange rate by using gold, Malaysia ringgit is RM3.60 equal USD1. Thing have change today by after opening Malaysia market at 9:00 am the gold price drop back to RM108.11 per gram equal to currency exchange RM3.52 = USD1. For PBBank the selling and buying price still same like yesterday, what had happen? from the 3 days chart, gold price was jump up and down due to currency exchange between USD at RM3.60 and RM3.52, I had see this sudden jump up and down few time in month of July. Really did not know what happen to Malaysia currency with US dollar, but I think Malaysia ringgit is devalue itself for better import or it is a sign of high infraction is about to hits us in Malaysia.

Gold is finding very good support above USD945, and strong resistance at USD957 – USD960. Should gold break above USD960, the next level of resistance would be at USD966. In the futures market, according to CFTC data, the net long speculative position in gold has risen by 62 tonnes last week — to 582 tonnes. The rise in the net long position is due a rise in the long speculative positions as well as covering of short positions, base on that report this as bullish for gold. Furthermore, today (US time mean tomorrow) is COMEX option expiry. There are 2,300 contracts of open interest on USD950 calls. While 2,300 is not a large number, it could provide some incentive to market players to keep the gold price above USD950. I note growing resistance from the physical market, but we doubt it is strong enough just yet to push the gold price lower. Back to Malaysia, gold price have close at RM110 per gram however public bank selling price is still keep at RM111.10 and buying price RM106.78. Bas...

Today Asia gold market open high and Malaysia gold price open at RM110 per gram. Normally gold price in Malaysia will drop a bit if open to high before share market start due to currency exchange but for today international Malaysia gold price is open high and till 11:30am Malaysia time, the price is still hold at RM110. PBBank still selling at RM110.64 per gram and normally PBBank will sell RM2.00 or more from international price. Base on history price record by me PBBank price should be selling RM112.54 per gram and buying at RM108.15 if international price at RM110.5 Gold Investment Account as at 27/07/09 11:20 AM Selling Price Buying Price 1 gram RM 110.6400 RM 106.3400

The dollar is once again weaker against the euro and failing to break below USD1.4200 earlier this morning, the greenback is now on the defense. For gold there is strong resistance at USD955 — USD960. In fact, there is increased selling in the physical market which is providing strong resistance. We have been tracking the physical market closely. Since the start of June physical buying has supported the gold price. However, we now believe this support has turned into resistance and there is more scrap selling. While we see USD955 as resistance, break above USD955 could see gold testUSD960 and USD970. Support for the metal is at USD946 and USD940. August gold futures closed up USD3.70 at USD950.60 yesterday. Prices closed near mid-range yesterday amid a sell off in the U.S. dollar index yesterday. Gold bulls still have the near-term technical advantage. Prices are still in a steep two-week-old uptrend on the daily bar chart. Bears' next downside price objective is closing prices bel...

Gold is edging down, supported not only by a stronger dollar, but also by another sizable sell-off in ETF gold holdings. The latest figures show that ETF gold holdings declined 12.2 tonnes, putting total holdings at 1,640 tonnes. This is a decline of 39 tonnes since the start of July. At the same time, we are seeing very little buying interest in the physical market out of Asia, which is assisting gold’s decent. Gold could continue to struggle today. European equities are under pressure for the first time this week, and the futures market signals similar for US equities. After Mr Bernanke indicated that the Fed funds rate should remain low for some time to come, US bond yields eclined sharply, supporting the US dollar. We expect a range-bound day for gold in the absence of any major data releases, although the bias could be to the downside. Gold support is at USD943 and USD940, with resistance at USD953 and USD958. Malaysia gold price may face the same as US gold and may drop from RM10...

Gold has run into strong resistance again on approach of USD960. There is almost no buying in the physical market at levels above USD955. Gold is losing some momentum, and with a slightly stronger dollar, there could be limited upside today. We see support for gold at USD940 and USD930, with resistance at USD955 and USD960. There are few data releases which could drive the market today. We await Fed Chair Bernanke’s semi-annual monetary policy report before the US House Financial Services Committee. The market expects Bernanke to signal that policy will remain accommodative, but that interest rates will need to increase. If Bernanke manages inflation expectations well today, longer-dated US Treasuries could benefit. This might see the dollar stronger, and gold lower. But we also expect him to signal no need to drain liquidity from the financial system just yet, and as a result, we believe that gold should find support for at least another few quarters. The interest rate futures and opt...

After having surged to a two-week high in the middle of last week, gold prices are expected to head lower later this week. Gold prices had been moving toward USD900 prior to the rally seen last week. The U.S. dollar had been appreciating and investor interest had been waning. These factors quickly reversed to push prices briefly above USD940, however. In expectation of higher prices later this year and with prices unable to move much lower than USD904 recently, investors may have increased their purchases. Follow-through buying also helped support prices as they broke above resistance at USD930. Prices also were supported by economic data continuing to show still weak economic conditions in the United States and the world. Despite investor activity having decreased a bit in the Northern Hemisphere, investment demand for gold remains firm. Combined ETF gold holdings were 54 million ounces at the end of last week, slightly lower than at the end of the previous week. Demand for gold bulli...

Malaysia gold price flow around RM 108 today and if compare to US gold price, the big drop of Malaysia gold price is due to currency convention. On 13 July 2009 US/MYR is RM3.60 so suddenly opening today it drop to RM3.54 so the gold value also drop. Currencies Overview The movement in the U.S. dollar against most major currencies was mixed last week, with the dollar showing strength early in the week, but then falling in the latter half of the week. Corporate earnings released last week were better than expected, leading to improved risk appetite among investors for equities and other riskier investments. Recent U.S. macroeconomic data released last week further added to hopes of a bottoming out of the recession. Lack of fresh fundamental news could keep the dollar moving in a narrow range this week. The dollar could remain vulnerable to declines in the early part of this week, but may strengthen as the week progresses. The strength is based on the assumption that in spite of some sig...

Malaysia Gold price close high at last week due to improve share market price and investor confident but the Gold price need to past USD 940 resistant before knowing the next USD 1,000 gold price bull run. Due to Asia economic getting recovery, gold price in Asia also will move higher compare USD and EU gold price. Malaysia gold price today hits RM 109 per gram on the opening and it need to hold on this level for few days before go up more. For me I think it will unlikely to broken USD 940 level or RM110 per gram due to current situation share market and community are speculated so selling pressure will be at USD 940 and buying at USD 910.

As long as the GOLD PRICE didn't close beneath USD918, we had probably seen the bottom. Yesterday half the world bought gold. Gold rose USD16.60 to close at USD939.10 on Comex. The gold price now needs to close above USD940.10, then jump over USD954. Otherwise, gold has simply teased us with yet another rise within a trading range. However, this move feels very strong. Silver confirmed today's gold rise with a respectable 34.8 cent rise, but still needs to confirm a gold breakout by closing over USD13.80. Greatest likelihood here is that silver and gold prices continue to rally. However, gold needs to climb above that USD940.10 point to confirm. Gold may be slapped back tomorrow, but should hold above USD928, then attack USD940.10 again. But whether gold continues to rally, or zigs and zags first, we've probably seen the bottom. In no way should you be short gold here, and if you have been planning to buy, better get about it. Public Bank...

The US 10-year government bond yield has declined from 3.50% on Monday last week to 3.26% yesterday. As a result, gold could remain under pressure. However, there is very good support from physical buying out of Asia since Friday — hence, I view that gold will remain range-bound. Back home at Malaysia, Gold price is still holding up above RM104 per gram and I think in short term this level will not be broken. Below is the latest Malaysia gold price:-

The World Gold Council spoke freely about the impact of India’s increase in gold and silver import duties, stating the rise could bring added pressure to the gold market. The Indian import duty is currently 100 rupees per 10 grams of gold and is being raised to 200 rupees to help subsidize the massive Indian economic stimulus package. The silver import tax is also being doubled. This also showing the economic recovery still weak. Gold are slightly higher this morning, supported by a weaker dollar and steady global equity markets. The dollar is very weak and gold is only up five or six dollars, this a bearishly sobering reaction, maybe a sale at 916.00, risking 923.00. Gold Field Mineral Serrvices and the World Gold Council have basically warned investors that gold may soften in the near term. Hello! SPDR Gold Trust ( In Malaysia this is a ETF fund share name is GLD-C1 a warrant from OSK) holdings fell sharply on Wednesday, down 10.38 tonnes, now totaling 1109.81 tonnes. August gold res...

Gold are drop sharply this morning, pressed by a stronger dollar, weaker than expected European data, lack of news from the G8 meeting and yesterday’s announcement that CFTC will be examining and determining maximum position limits for hedge funds and speculators this summer. Traders are worried that the CFTC decisions could have an impact on volume and liquidity in physical commodity markets. A comment from a GFMS executive has hit the headlines for a second time in 3 weeks, which has front contract gold slipping into the 880 -870 level in the near term. ETF holdings are beginning to drop just a bit, more importantly ETF holdings are not expanding. The schedule of U.S. economic data is very light this week, so the focus is the G8 Meeting, which so far has not provided new insight into the role of dollar as a reserve currency. Gold price close below USD913 so it will accelerate prices drop to 882.00 -875.00 level. Malaysia gold price drop to RM103.52 per gram so when gold price drop be...

Gold are higher after yesterday close as the dollar is setting back ahead of Wednesday’s Group of Eight meeting which is scheduled to start today. The world will be listening to any indication of what the future role of the dollar as the global reserve currency will be. Ahead of the meeting senior officials from various countries have downplayed the potential for discussions on any specific currencies. The fear that world economies are slowing and the financial crisis is still intact has pressured physical commodities this past week, however, this morning’s sharp rise in German manufacturing orders has tempered the selling pressure. The schedule for U.S. economic data is very light this week, so the focus will be the G8 Meeting and the U.S. Treasury Auctions. The U.S. will be selling $35 billion in 3 –year notes today. Be very careful trading the long side of the metal markets, the downside is such a quicker and faster game. Gold support is at $920 and $914, with resistance at $930 and...

Gold and silver are sharply lower at yesterday , influenced by a stronger dollar and weak global equity markets. The fear that world economies are slowing and the financial crisis is still intact has pressured most physical commodities. The energy sector seems to be a leader on the downside, weakness is much more pronounced than other physical markets. Gold is not the market to press, it is actually holding a range as other commodities move into new low territory, The demand side of the market received negative news this morning with the Finance Minister of India announced that the import duty on gold bars is being raised to 200 rupees per 10 grams from 100 rupees and the import duty for silver is also being doubled. This is not good news for Indian physical offtake, as imports are now projected to be down 50 percent in 2009. The world economic recovery seems to be stalling and that will be an issue for all physical commodities. Be very careful trading the long side of the metal market...

This week at US is a long holiday weekend (4 July ), usually it takes people out of the market. They close out positions before they leave for the weekend, and put those positions back on when they return on Monday. The Gold Price keeps hitting the wall at USD945 and skidding to a stop about USD925. In other words, its range bound between USD945 and USD925. Sooner or later it will break out, one way or the other. Either way, it will make a quick, substantial move when it does break out, to USD900 or to USD1,000. Anyway, next week is dangerous for currencies and metals, because of the G8 meeting in Italy will start. Back home Malaysia gold price will follow the patten of US Gold price hitting RM107 and bound at RM105 so if you buy at Public Bank you will not make any profit between this range.

GOLD Price completely confused this few days. Instead of following through on the downside, it rose strongly. The gold price led with a USD13.90 rise to USD941.00, very strong but not quite clean through the resistance area. Without contrary evidence, gold appears to have bottomed. Unless the gold price closes below USD928, that has to be the operating theory. At this point, there is no clear direction on gold. Be forearmed for anything, knowing that whatever trick they pull, it cannot for long suppress and speculate the metals. Public Bank Gold Investment Account as at 02/07/09 9:21 AM Selling Price Buying Price 1 gram RM 108.7200 RM 104.4600 Related Articles :- Correction In Gold Prices Is Not Over Yet. Gold Price Took A Hard Blow But It's Not A Catastrophe Compare Share Market Valuecap assets grow to RM13.8b as at June 30 this year - Believe it or not!

The GOLD PRICE also dipped below its 50 DMA (930.35) and closed on Comex at USD927.10, down 13.30. Several different plots might unroll: The gold price might stop right here, or The gold price might return to its 918.00 previous low and make a double bottom there, or The gold price could drop through 918 to 900 or lower. If all this sounds bearish however, remember that time is running out for lower gold and silver prices and I think and hope gold will go down and give all of us one last chance to buy gold on the cheap, before gold blows through USD1,000 on next bull run. Related Articles :- Gold Price Bounds Up Still Unlikely To Happen In Short Term Correction In Gold Prices Is Not Over Yet.