Malaysia Gold Investment

Right on cue from the dollar, the GOLD PRICE in the aftermarket jumped from a lackluster close up USD1.20 at USD945.50 to USD951, where it remains. Snappy day for gold, bouncing back like that, but it must close above USD955 then USD961 to break free of this trading range. Today's market had the feel of control by traders with one eye on the US dollar pit and one eye on the gold pit. This is not big trading, it's dulldom. August has almost ended, and next week the big traders in US will return. We'll see what happens then. I expect gold will begin to year end rally in earnest and demand on gold also will increase due to after August is marry season in Asia.

AMPRECIOUS METAL is a fund hold by AMINVESTMENT SERVICES BERHAD under AmBank Berhad. AMPRECIOUS METALS is a fund invest into global precious metal like silver and gold. I found that this fund can buy by using EPF account no1. Since now the price is RM0.8535 is lower compare to early of the price during this fund start so the opportunity to invest into AMPRECIOUS METALS funds is here. AMPRECIOUS METALS fund was started during precious metal price was high so if gold and silver bounds up again to they record high, AMPRECIOUS METALS fund will hits back to RM1.19 again and it is about 39.42% increase. The best part of this fund is we can invest by using EPF money and for sure using EPF money to buy silver and gold is a sure profitable investment in long term.

Whenever gold falls towards USD940 will see good buying. This level seems to provide good support. However, without substantial dollar weakness this week, it is difficult to see gold targeting USD960. Selling interest at this level remains strong. Gold support is at USD940 and USD935, with resistance at USD955, USD960 and USD974. Report from White House projects that the US fiscal deficit will rise to over USD10 trillion in the next decade. There could be increased pressure on the borrowing requirement of the US government. This could push US long-term yields higher — which would be negative for gold. However, they also believe that higher borrowing needs could discourage foreign investors away from US bonds, which should lead to dollar weakness. This would be positive for gold in dollar terms. As believed potential dollar weakness could outweigh any higher interest rates at least for the next four quarters. Standard Bank still sees the dollar at USD1.5000 against the euro towards ye...

Speaking of confused markets, the GOLD PRICE yesterday fell USD10.90 to close at USD942.30 on Comex, equal to RM106.62 per gram. The gold price needed to follow up with a higher close today, but fell instead. Isn't that weak? Not really, because it didn't fall out of the triangle it has been trading in. I'm tempted to say (with Ned Schmidt) that gold is in the hands of traders, who are taking it back and forth to scalp small scalps. However, the technical pattern doesn't lie. Gold continues to trade within that triangle; falling out of the triangle would have spoken of terrible things, but gold has not fallen out of it. And even-sided triangles can break out up or down. Like a spring, the gold price is coiling for a break out. It's a bull market, so it will most likely break out to the Upside. Only the question is when it will end the spring circle.

MAYBANK GOLD PRICE PUBLIC BANK GOLD PRICE In buying price, Public Bank are higher compare with MayBank about RM1 per gram and selling price for MayBank is higher compare Public Bank about RM0.50. So Public Bank gold investment is better compare to MayBank. However if can direct invest into international gold price is the best way due to the price did not been control or capped by the Bank. Example now the gold price is RM109.15 per gram and both Maybank and Public Bank buy back from us less RM3.42 per gram compare with international price. Unfortunate we live in Malaysia is not allow to buy direct so like bank they can earn money above ours investment. For then live is vary good.

Despite equities gaining Friday US Market it believe there is once again some risk aversion creeping back into the market. This is reflected in the good performance of US Treasuries since the start of the week. This could support the dollar at current levels around $1.4300 against the euro. Yesterday it was reported that almost 10% of homeowners in the US are either behind schedule on mortgage payments or in a state of foreclosure. This is high. The data for the US goes back to 1979. In this 30 year period the previous highest rate was only 6.07%. This was in 1985 and the figure reached its highs only 3 years after the end of the 1981/82 recession. Total write downs by financial institutions since the start of the credit crises is at $1.6 trillion . This looks set to rise further. Total capital raised by institutions are at $1.3 trillion . This might also need to rise further. While higher risk might support the dollar, it should also support gold. Since falling towards $938 yesterday,...

For the past three weeks, DOE crude oil inventories have seen a net cumulative increase of 944K barrels, which stood at 9,341K (if we exclude yesterday’s significant 8,397K barrel decrease in crude oil inventories). Meanwhile, API crude inventories realized a cumulative 10,068K barrel decline. This discrepancy has caused uncertainty about the actual level of US crude oil inventories. Base on the report from US, they believe this could serve to draw investors’ attention from market fundamentals, towards other economic barometers (like equity markets) for short-term guidance. Yesterday’s DOE data showed that gasoline inventories had contracted 2,177K barrels, expanding the cumulative decline in US gasoline inventories to 5,637K barrels. This signals improving US retail demand for crude oil. However, with US distillate fuel stocks gaining another 1,529K barrels last week, concerns about weak industrial crude oil demand could weigh on crude oil contract prices. Furthermore, the US Gulf coa...

Early of this year gold price had hits USD1,000 per ounce and resilent to USD870 before bull run again at month of May. However the bull run did not broken the USD1,000 level again and now is bull cap below USD980 due to more selling when the gold price is up. I think the chart will continues till the end of the year but is USD980 level broken, gold price will go up to USD1,000 and never look back.

With the dollar trading much stronger yesterday, we would expect the gold price to remain under pressure despite the fact that there are good physical buying interest in gold whenever the gold price dips below USD940. But investment demand is under pressure due to the stronger dollar. ETF buying is being triggered by the stronger dollar, and this selling is likely to outpace any physical buying. On Friday, there was sizable ETF selling in New York, which saw the gold price gap lower USD10, from USD953 to USD942. While the dollar is finding resistance atUSD1.4100 against the euro, a break below this level could see more sell stops triggered, with more large movements lower in the gold price. We see support for gold at USD933 and USD929, with resistance at USD942 and USD959. Public Bank Gold Investment Account as at 17/08/09 3:51 PM Selling Price Buying Price 1 gram RM 110.1100 RM 105.8200

The gold market is quiet. While Eurozone inflation last week has once again confirmed that current inflationary pressures remain non-existent, the market will be focusing on CPI figures in the US later this week. Expectations are that inflation will remain subdued in the US for now. However, we will also look at the US industrial production growth figures to see whether demand from the industrial sector is improving. Should growth figures show a marked improvement inflationary expectations may also climb faster. Gold is finding very good resistance at $960. A break above this level could see the metal test $972. Support is at $952.

Gold managed to consolidate above USD960 yesterday. However, it remains at levels where I think have seen strong resistance in the past year. Base on a report I read yesterday from Standard Bank, they is fairly a large volumes of scrap gold coming to the market. The scrap flow should provide some resistance. But, given the current high correlation between gold and the euro/dollar exchange rate (10-day correlation currently at 0.87), they will look to the dollar to determine gold’s intra-day moves. Support is at US960 and US954. Resistance is at US969 – US970. A break above this level could see gold test US977. Public Bank Gold Investment Account as at 06/08/09 3:50 PM Selling Price Buying Price 1 gram RM 111.0600 RM 106.7200

A rally in crude oil prices during New York trading yesterday spilled over into the precious metals, with gold climbing from USD951 to USD970 in NY trade. Investor profit-taking during in Asian trade this morning, has however seen prices retreat to USD963. Expect sideways or lower gold prices today. The larger rally is still going, this is merely a small correction. Back home to Malaysia, Gold price in RM still moving along with world gold price and currency exchange between US dollar with RM still keep stable around RM3.52 per dollar. Gold demand in Malaysia may see some increment toward Hari Raya and Deepavali. Public Bank Gold Investment Account as at 05/08/09 3:51 PM Selling Price Buying Price 1 gram RM 111.1900 RM 106.8600

The dollar plummeted yesterday, from $1.4250 against the euro to $1.4440. With risk appetite rising, US Treasuries are being sold off — leading to dollar weakness. Equity markets continue to rise, and the S&P broke above the 1,000 resistance level yesterday for the first time since November 2008. Eurozone PPI came in at a slightly better-than-expected 0.3% m/m rise. This is significant, in light of tomorrow’s ECB interest rate decision. With inflationary pressures higher on a m/m basis (although still very low), it adds to the reasons why the ECB might keep rates at 1% — something we view as supportive of the euro. Gold failed to take full advantage of the dollar. There was good physical selling with gold above $960, a pattern which we expect to continue. Gold resistance remains in the $960 – $962 area. A break below $950 could see gold test $945, and then $935. Two possible outcomes are (1) surprise dollar rally, and (2) no dollar rally. If we get a surprise dollar rally off, say,...

Against our expectations, gold pushed higher on the back of the much weaker US dollar. After US GDP data showed that the US economy had contracted only 1% in Q2:09 (consensus was for a 1.5% contraction), the greenback depreciated quickly, from USD1.4100 to USD1.4250. The New York gold market was caught short, and short-covering helped push gold above USD950. Should gold stay around $955 today, we expect decent volumes of gold scrap to enter the market. But at these price levels, resistance to a move higher is once again strong. We see resistance at USD960 – USD962 and USD970. Support is at USD940 and USD923.

In month of July gold price was zip zap up and down between USD920 to USD950 due to US dollar currency. The US DOLLAR rallied 100 basis points quite suddenly, sending gold & silver into a sharp correction. Ysterday that all reversed.The US DOLLAR INDEX fell 100.1 basis points back to the very scraping bottom of its range, 78.317. Now this either confirms that 78.33 bottom on 2 June & 28 July, or, it will break thru that 78.33 level to drop another 200 bips, and maybe hit 76. Remember, when markets repeatedly test a resistance or support level, chances are they will break thru. More downside is most likely US Dollar course, and the same reason Gold price may likely to broken USD950 level soon. Malaysia gold price may work the same due to conversion currency between Malaysia and US Dollar likely to broken RM108 per gram level. Public Bank Gold Investment Account as at 31/07/09 3:51 PM Selling Price Buying Price 1 gram RM 108.7100 RM 104.4600 t...