Malaysia Gold Investment

Important levels in the dollar and the VIX are being tested. If these levels are breached, it would be bullish commodities. The dollar might test $1.5070 against the euro. The VIX is testing important support. After yesterday's movements in the VIX, the index looks set to test a trend-line which stretches back to August 2008 (when risk aversion exploded). A break in the VIX below 20.40 - 20.10 could see the index move even lower in coming days. Precious metals should benefit. With US equities set to open higher (according to futures market), I expect good support for precious metals. Gold continues to set new highs, trading at USD1,180 this morning in Asia. Technically, gold remains overbought. However, buying appetite is not fading. We have seen some scrap metal coming to the market at current levels, but still it is not enough to offset buying. Gold support is at USD1,170 and USD1,150, resistance at USD1,180 and USD1,200.

Today gold price in Asia open high and same thing happen in Malaysia Gold. Now Malaysia gold is at RM 127.56 per gram and if today broken RM128 level will be a sign of gold will broken RM130 level and above. Now gold price move up due to strong buying from Asia so even dollar value drop or up will effect less on the gold price. China Yuan will soon value up compare USD, if not happen this year may likely next year 1st half and China now buying a lot of gold so I think sure China is working something. PBBANK Gold Investment Account as at 25/11/09 9:45 AM Selling Price Buying Price 1 gram RM 130.0300 RM 124.9900

Today Malaysia gold price open high at RM126 per gram and this is also a history high. With now gold price broken USD 1,150 per ounce next stop will be USD 1,300 and up to this price China and India still buying gold in the market. Due to US dollar value is getting lower most of the Asia country is keeping gold metal to replace USD. However the risk of big correction in gold price is still in the picture, due to this high price retail gold sale is drop a lot. In market 916 gold is selling at RM137 per gram so at this price really destroy the appetite to buy gold. Public Bank Gold Investment Account as at 20/11/09 3:45 PM Selling Price Buying Price 1 gram RM 128.1200 RM 123.1300

Malaysia Gold price move higher this morning but USD Gold price drop, this is dual to currency exchange rate between RM with USD.

Three weeks ago, report show on gold support in the physical market despite gold reaching new highs at that time (the dollar was trading at $1.4850-$1.4900 against the euro). This morning, gold touched another high, at $1,148, while the dollar is only slightly weaker, at $1.4950 against the euro. Still we see gold upside, as support in the physical market remains intact. Should gold reach $1,150 in coming days, $1,200 may be on the cards. When gold breached $1,000 in early September, physical selling went neutral (see physical index approaching zero). A value for the index above zero shows net buying. A value below zero shows net selling. The higher the value on either side of zero (in absolute terms), the greater the buying or selling pressure. Buying momentum spiked sharply in Q4:09 and, although down from recent highs, we still see net physical buying. As a result, support remains in tact. I believe buying momentum will remain positive for most of Q4:09 on high seasonal demand. Esti...

Gold remains well supported on the downside. Physical demand is not great ( bull cap), but it remains positive, and is providing good support for gold. At the same time, the dollar has failed to rally significantly on comments by Mr Bernanke that the Fed supports a strong dollar. We see good support for gold at USD1,125 and USD1,110. Our next target remains at USD1,150. Back to Malaysia, gold price also moving up strongly and hold above RM123 per gram now the major support line is at RM120 per gram level if any drop in price below this level will be the sign of correction, however as long as RM113 per gram level unbroken, gold price still in bull run till 1Q2010.

USD weakness remains a key driver of the gold price (in US dollar terms). However, when gold is denominated in other currencies, two things become apparent: Firstly, gold is not at all-time highs in many other currencies, including gold denominated in AUD, CAD, GBP and EUR (to mention only a few). In many currencies, price highs were reached in February this year. Secondly, while gold is not at all-time highs in some currencies, gold demand is rising steadily, as demonstrated by viewing gold against currencies for different periods. While there is a clear positive correlation between dollar weakness and the gold price in dollar as expected, there is no correlation between the gold price and many other currencies. Gold has been trading at the same levels for many different values of the CAD. However, what is clear from both figures, is a clear step-change in the gold price irrespective of which currency is used. Gold is trading currently at higher levels in CAD than it did in 2007, even...

Gold has hit fresh highs this morning, climbing above USD1,117/oz. With the metal in uncharted territory, resistance levels have reverted to round figures, with the next level being USD1,120. While we still look for a possible retracement in gold towards USD1,090 the fact that gold is consolidating its gains above USD1,100 is making such a retracement more unlikely. China has released its industrial production figures for October which showed y/y growth of 16.1%. Retail sales were up 16.2% y/y in October. Both figures are higher-than-expected and confirms that China’s economic growth remains well balanced on the consumer and producer side of the economy. While there is very little data releases in other parts of the world today the markets might find direction from the positive Chinese data. This could lead to support for precious metals, especially gold. Although buying appetite in the physical market remains small, we are seeing less scrap coming to the market as gold consolidates ab...

Risk appetite is back this morning which is benefiting gold. The increased risk appetite comes as G20 leaders signal continued stimulus for the global economy. As a result the dollar is weaker this morning. Gold is trading at new highs—and we expect more upside. Underlying support remains in place and this should be the case for the rest of the quarter. Our target for the US dollar against the euro remains $1.60 towards the end of Q1:10. We believe $1,150 for the gold price is a real possibility. However, at this stage we are slightly less bullish on gold next quarter. As we head into Q1:10, we also expect some the dollar weakness to be offset by seasonal weakness in the jewellery market. With gold edging above $1,100 this morning in Asia, there has been some short covering pushing the price quickly towards $1,105. The fact that the dollar is trading around the $1,50 level against the euro is adding to the gold buying. Although there was some consolidation this morning in the price aro...

Gold has gained more than 25 percent in 2009, driven by persistent weakness in the U.S. currency that has lost more than 6 percent versus the euro so far this year, and recently by the failure of a meeting of the Group of 20 finance officials to talk more specifically about the dollar's decline. U.S. December gold futures jumped as high as USD1,105.4 an ounce to another lifetime high. As back home Malaysia Gold price also hits lifetime high at RM120 per gram and when you look at the RSI on a 14-day basis, it's still in a positive story because it's not overly bought. So, there's potential for further upside. However in Malaysia if buy with PBBANK or MAYBANK we can not maximum ours profit from this potential gold price hits higher by year end (usually gold price will drop on 1Q of the year) so I think this GLD-C1 warrant may likely to fully profitable during this further upside. The warrant price move base on SPDR Gold. The only risk is this warrant will expire on Apr 2...

The physical buying reported have seen in gold has stopped and there is more scrap metal coming to the market. As expected, this to provide resistance to gold. But despite current resistance, the downside well protected and dips should still be bought. Combined with markets waiting for direction from the ECB later today (US Time) and US non-farm payrolls tomorrow, risk appetite should remain subdued. Gold support is at USD1,080 and USD1,072, while resistance is at USD1,100 and USD1,110. Back home Malaysia gold price may likely to drop back a bit with this resistance with support line at RM117 per g.

Over the past week, gold has held its ground despite dollar strength (the dollar appreciated from RM3.39 to RM3.44 against the Ringgit yesterday). Gold has reached new highs, and still most of the investor see upside. They target price is USD1,100 in Q4:09 may be met sooner than thought. They also believe that support remains in place. When gold breached USD1,000 in early September, physical selling went neutral (refer to physical index chart approaching zero). A value for the index above zero shows net buying. A value below zero shows net selling. The higher the value (in absolute terms), the greater the buying or selling pressure. However, buying momentum spiked sharply in recent weeks, reaching a high for Q4 last week. While buying momentum in the physical gold market remains positive mainly from India and China, momentum is fading at current prices. Some expect some resistance from this front. That said, we also believe that any resistance from the physical market will be short-ter...

Due to Royal Bank of India buying 200 tons of IMF gold and suggesting they might buy additional gold supply from the IMF have push Gold price to USD 1083 per ounce. In this week, India and Chinese central bank have become net buyer of gold as year end gold demand is higher. The bull really likely to continues till end of this year. Malaysia Gold price may be will drop a bit after Malaysia market open on 9:00AM however this price likely will be higher that yesterday. Public Bank Gold Investment Account as at 03/11/09 3:51 PM Selling Price Buying Price 1 gram RM 119.8800 RM 115.2300

Gold seems destined to move higher. Most of the investor next target is at USD1,100 in Q4:09. Observed a support base building in investment demand and physical demand. ETF holdings are still rising. The latest figures show that ETF holdings have reached 1,750 tonnes. This is 48 tonnes higher than at the start of October, and 572 tonnes higher than at the start of the year. As expected ETF holdings to remain well supported and still see the US dollar weakening towards USD1.60 in the next six months. This would add to upward momentum in the ETF market. However, dollar dependence is likely to make the ride volatile. Despite such volatility, investor report see the downside in gold well protected by buying interest in the physical market. At this stage, buying support is especially strong when gold eyes USD1,030. Currently, buying momentum (in the physical flows tracked) has reached the highest level since early September. I expect interest to remain strong into year-end. However, caution...