Malaysia Gold Investment

With gold dipping towards the mid-USD980s, base on some report they are seeing some physical buying return to the market. Gold remains very well supported despite recent dollar strength. Dollar view remains unchanged, with USD1.5000 against the euro our year-end target. Some report also foresee even more dollar weakness during Q1:10. Combined with seasonal jewellery demand, our gold view remains one of buying on dips. Gold support today is at USD985 and USD980, with resistance at USD996 and USD1,002. Public Bank Gold Investment Account as at 29/09/09 3:51 PM Selling Price Buying Price 1 gram RM 114.0900 RM 109.6600

A stronger US dollar has also pressured gold prices this morning. The greenback strengthened from USD1.4720 to USD1.4563 against the euro in Asian trade before retreating to USD1.4636 in European trade. Consequently, gold slipped from USD996 to USD986 in Asian trade before recovering. Gold’s recent weakness has attracted some fund buying interest—of note, ETF Securities Ltd increased its gold investment holdings 13,000oz to a record 8.39 million ounces today. Increased investment fund flows may see gold continue to garner support should prices weaken further. Resistance is at USD996. Technical Commentary Gold—The broader gold uptrend remains in tact, however shorter term technicals are warning of further downside for the metal. The MACD has crossed below the signal line, generating a sell signal; and the candle pattern is warning of further downside. However, gold has yet to even test its 50 or 100-day moving average (967.33 and 953.30, respectively) and these levels should serve as su

A stronger dollar saw gold fall from USD1,019 to USD992 in NY trade yesterday, however, physical market buying interest in early Asian trade saw the metal climb back to USD998 heading into this morning, before coming off the boil again. As far as ETF holdings are concerned, the SDPR Gold Trust ETF, the largest gold-backed ETF, liquidated 7.63 metric tonnes from its gold investment holdings yesterday. Some of this activity was offset however by ETF Securities Ltd, which showed a 3,934oz increase yesterday to 8.4 million ounces. Support and resistance are at USD985 and USD1,014 respectively today. Back to Malaysia, gold price likely to be supported by physical market buying interest at year end when usually for Malaysia is a wedding months. Today Malaysia gold open high at RM112.74 per gram and likely this week will support at RM110 and resistance at RM 113. Public Bank Gold Investment Account as at 25/09/09 3:53 PM Selling Price Buying Price 1 gram R

Strong investor interest continues to buy gold prices. Demand for gold seems to have picked up across the board around the world. Many market participants had been waiting to see if gold prices would hold above USD1,000 on a sustained basis before they increased their gold purchases. Prices have been holding above this level for several days now and demand for gold has been rising. Strong buying is reported to be coming from several funds as well as from some central banks. Buying also has surged in the futures and options markets. As of 17 September combined ETF gold holdings were 55.22 million ounces, up 1.3 million ounces from the end of August. In India there has been an uptick in gold jewelry purchases as the festivals and wedding season approach. Some consumers in India have been buying gold recently in expectation that prices could be much higher later this year. All of this suggests a tightening physical market, which has the potential to push prices as high as USD1,050. A brea

After trading above USD1,020 at yesterday, gold remains the focus in the commodities markets. It continues to find good support whenever it breaks lower. However, close to USD1,033, resistance is also growing. Gold ETFs continue to add to their holdings. The latest figures show that another 277,245oz were added to ETF gold holdings. There is still good resistance in the physical market (in which buying activity has slowed down substantially). The now familiar trend continues. Equities continues to make gains, and the futures market signals this may continue today in the US. US treasuries are on the back foot, with the 10-year yield rising 10 bps in a few minutes, to trade around 3.40%. As a result, the dollar continues to weaken. Gold support is at USD1,025 and USD1,030, and support at USD1,010 and USD1,000. Back to Malaysia, due to USD weaken compare to RM the gold price profit invest in Ringgit Malaysia had drop. Compare early of this year when Gold hits 1,000 gold price in RM is 114

Gold attempted to break lower yesterday, touching USD992 in New York. Expected a larger pull-back, towards the mid- USD980s. Instead, gold powered ahead to over USD1,018 this morning. Gold remains well supported despite a large net speculative long position. To be expected this support to continue into Q4:09 and Q1:10; target price for Q4:09 is USD1,100 (Report from Commodities Daily dated 7 September 2009). Also, expected more dollar weakness into year-end. However, there is a great deal of speculative activity in the gold market. ETF gold holdings have risen by only 33 tonnes since the start of September, and, according to CFTC data, net speculative long positions rose by 161 tonnes during the first week of September alone. Since then, this could even have increased. Speculative futures activity far outstrip ETF demand. Despite higher seasonal demand for jewelery demand, base on some report from US they do not believe that jewelery demand is strong right now. While gold has been defy

The dollar has reached its lowest level YTD against the euro yesterday and resistance to a move higher from crude oil, Gold and base metals was quite substantial (admittedly the trade-weighted dollar is not at a YTD low). There are a few other factors which made yesterday’s resistance by commodities even more remarkable: although the day kicked-off on a negative note in Asia, risk appetite grew substantially as the day progressed. The VIX ended the day lower, while the FTSE, the S&P and the Dow managed gains. US Treasuries sold-off. All signs of risk-appetite and still gold remained subdued. This could be a sign that gold markets are wary of what lies ahead this week. Their seems to be strong resistance of adding more longs given that large speculative length has been added already during the past two weeks. Gold especially provided very good resistance closing lower on the day. In fact most of the report still believe gold is running out of steam and could see a correction lower.

Gold garnered support after slipping from USD996 to USD982 in London trade yesterday with the price fall being seen as a buy opportunity. The greenback weakened further this morning, slipping from USD1.4571 to USD1.4629 against the euro, propelling gold from USD994 to USD1,003 in Asian trade this morning. Elsewhere of note, ETF Securities Ltd’s gold investment holdings increased 48,393oz. Monitored investor holdings report from Goldessential.com, base on 10 monitored gold-backed exchange-traded funds were seen increasing 4.871 tonnes (156,615 ounces) or 0.31 pct in the week from September 4th up to September 11th, in-house calculations based on official data showed on Friday. Four of the ten ETF’s announced an inflow and five ‘no change’. One of the monitored ETF’s reported a decline in holdings over the reported period. On the supply side, Statistics South Africa reported the country’s gold production contracted 7.6% y/y in July. Given abundant above-ground physical gold supplies glob

Yesterday sees the release of the initial jobless claims and continuing claims data in the US - lagging indicators which show that the US economy is indeed recovering. The market expects another decline in jobless claims - albeit only a small 10K fall. Meanwhile, US Treasury yields are rising steadily again, with the 10y yields just below 3.50%. Equities are also finding good support. On top of this, the futures market still expects monetary tightening in the US only by Q2:10 indicating that liquidity should remain adequate (currently the options market is pricing a rise of 25bp in Q1:10). For gold, resistance to a sustainable move above USD1,000 remains strong. Gold has slipped to the mid-USD980’s yesterday after failing to move higher. What makes the resistance even more remarkable is that gold has failed to move higher despite the dollar falling almost 1% against the euro yesterday. However, the positive sign is that gold is also finding good support in the mid-USD980’s. While the r

Gold price likely drop below USD1,000 point by this week. Base on the chart are showing positive momentum but are now in overbought territory, so some caution is warranted. The market's short term trend trend is positive on the close above the 9 day moving average. It is a mildly bullish indicator that the market closed over the pivot swing number. The next upside target is USD1,015.4 per ounce. The market is becoming somewhat overbought now that the RSI is over 70. The next area of resistance is around 1,004.0 and 1,015.4, while 1st support hits today at 987.0 and below there at 981.3. Likely the price will hold long on above USD1,000 so I plan to sale off my gold buy in during the price at RM104 and RM102. Yesterday PBBANK buying price is at RM 110.79 and today opening may see a bit lower so if sale at RM 110 the profit will be only 6.79% not mach but better that FD and EPF dividend for 1 year. From RM102 per gram till now just 5 months time of investment. Luckily get some money

Gold raced to over USD1,000 yesterday in a move which was widely anticipated. While some consolidation and even a short-term pull-back towards the mid-USD980 is possible, we expect more upside as we head into Q4:09. Much of the move has been driven by technical buying, and the dollar assisted by sliding from USD1.4330 to USD1.4430. Base on Standard Bank report, expected the dollar to weaken to USD1.50 against the euro on a 6-month horizon. Despite bullish view on gold over the next few months, I still doubt that the move over USD1,000 will be sustainable, as jewellery demand will continue to fall as gold price rises. There will be few data releases today. Gold could therefore be volatile between support and resistance levels. I see support at $994 and $985, and resistance at $1,008 and $1,015.

Gold price speed bound to above USD1,000 per oz, and for Malaysia PBBANK buying back with RM111.56 per gram Gold Investment Account as at 08/09/09 2:51 PM Selling Price Buying Price 1 gram RM 116.0700 RM 111.5600

Gold remained well supported amid further technical buying, trading within touching distance of the USD1,000 mark during US trade. While technical trading is in charge, US Investment fund flows also helped support prices, with the SPDR Gold Trust ETF seeinga 14.54 metric tonne increase in its gold investment holdings. ETF Securities Ltd’s gold investment holdings also gained 3,283oz to 7.99 million ounces yesterday, reported by Standard Bank. These developments saw gold escalate to USD997 in New York despite the greenback strengthening from USD1.4350 to USD1.4236 against the euro. Profit-taking throughout Asian trade yesterday morning has seen gold ease to USD989 ahead of European trade. Also providing support to gold prices are reports coming out of China that the country’s main sovereign wealth fund, the China Investment Corporation (CIC), is under pressure to cross-hedge its US dollar exposure by investing more funds into gold and oil. How quickly this transition takes place, if at

Public Bank Gold Investment Account as at 04/09/09 11:22 AM Selling Price Buying Price 1 gram RM 115.2500 RM 110.7700

Gold close at USD991 equal to RM112.27 per gram this morning had broken the triangle pattern since March of this year. Gold’s rally was purely technical in nature, with its long standing pennant formation being focused on by the market for several months. However it was the bout of risk aversion at the beginning of this week that gave the metal the impetus needed for the move, with poor US data on Wednesday also providing further ammunition. The strength in gold dragged the rest of the precious metals complex higher with it, with the metal also leading the currencies for a change. For me I think the rally is just temporary and in short time Gold will hits USD1,000 but likely will not hold in this level for long. However after this year we may not see Gold below USD970 per ounce again. Ever year value of gold is on the way up so it is a tool that bring profit better that FD and safe.

Today gold price opening with higher price and try yo broken triangle consolidation pattern. If it success broken this level, gold price will bull run again to USD1,000 per oz. Public Bank Gold Investment Account as at 03/09/09 9:21 AM Selling Price Buying Price 1 gram RM 113.7300 RM 109.2900

Malaysia Gold Price had try to broken RM110 level for few time but not get success. However base on the chart, the support and resistant level is getting narrow and narrow so once the lower point hits the bullcap level, likely the gold price will broken this formation toward RM120 per gram. Gold always on bull run just it happen in long term, gold is a year by year long term investment tool.

Gold prices may continue to be volatile this week, most likely moving between USD940 and USD980. Prices may be stronger earlier, dropping back as the week progresses. A break below USD940 level could push prices toward USD930 or even USD920, but such a move may be brief, as dips to such levels could see increased bargain-hunting buying from a spectrum of investors. Despite summer doldrums in the Northern Hemisphere gold prices have been firm, holding above USD930 throughout August. This suggests strong investor interest. There has been some optimism about improving world financial conditions but many investors still remain concerned that the current rally in the financial markets could end abruptly. Fundamentally, financial markets continue to be vulnerable to another leg down. Given this fear, investors have been adding gold to their portfolios, as a safe haven, especially on dips in prices. At the end of last week combined ETF gold holdings stood at 53.7 million ounces, up marginally