Malaysia Gold Investment

The gold price climbed 2.4% Wednesday morning to $1,832 per ounce on the back of expectations that the weakening economy would prompt the Federal Reserve to initiate more monetary stimulus. After trading as low as $1,783 early Tuesday, the price of gold soared following a CNBC interview with Chicago Fed President Charles Evans. The dovish voting member of the Federal Open Market Committee told CNBC’s Steve Liesman, “the data has been soft” and noted that he “would favor more accommodation.” Commenting on the recent correction in the gold price – which sent the yellow metal over 10% off its $1,913 per ounce record high – Bill Fleckenstein wrote in his weekly MSN column that “I don’t believe the gold bull market has ended…Having said all that, I would note that the gold market was due for a correction at some point, and it is now getting it. I say, let’s get it over with to clear out the hot money.” Fleckenstein went on to discuss Ben Bernanke’s Jackson Hole speech and

The gold price dipped Tuesday morning, trading lower by $18.78 at $1,793 per ounce. Volatility in the price of gold has surged in recent days. After hitting yet another all-time high early last week, the gold price posted its first weekly loss since mid-June. The most noteworthy economic development of the past week was Ben Bernanke’s speech from Jackson Hole, Wyoming on Friday. Given the weakness in financial markets and economic data in recent months, speculation had arisen that the Fed Chairman would discuss the potential for a third round of quantitative easing (QE3). Despite the fact that Bernanke made no mention of QE3, the price of gold rallied following the Fed Chairman’s comments. Goldman Sachs’ chief U.S. economist, Jan Hatzius, characterized Bernanke’s speech as “anti-climactic” and offering “little guidance on the near-term policy outlook.” However, “Bernanke’s remarks contained a short passage on the prospect for additional monetary stimulus. He reiterat

Despite the sharp pull-back in gold last week, which was much greater than anticipated, we believe that the metal will move higher into 2012. Our view remains unchanged: we prefer to be long gold. Short term, we believe that gold should find support on dips — physical demand is strong when gold pulls back. Our strategic view remains unchanged too: we continue to believe that gold will push higher into 2012. We note that gold may pull back again towards the $1,720 level in coming days as no change in the Fed’s policy stance and no immediate successor to QE3. However, we also note that we don’t discount the probability of QE3 completely sometime in the future. The real economy and market sentiment has taken a knock in recent weeks and economic data is starting to reflect this. We keep a close eye on the weekly ECRI leading indicator. Recently it stared to decline but the slope is not nearly as steep as before QE2.

The gold price advanced Friday night, gaining $50.00 to close this week at $1,828.05 per ounce ahead of a widely anticipated speech from Federal Reserve Chairman Ben Bernanke at a central bank symposium in Jackson Hole, Wyoming. Bernanke will deliver his latest thoughts and outlook on monetary policy and the state of the U.S. economy. Heading into this year’s Jackson Hole speech, calls for a third round of quantitative easing (QE3) have increased in recent months as the economy has softened and financial markets have declined. Although most economists are predicting that the Fed Chairman will not announce QE3 at Jackson Hole today, the potential for it over the course of the next year remains substantial. Goldman Sachs analyst Sven Jari Stehn does not believe a new round of money printing would have nearly as much of an impact on easing financial conditions as the first two rounds of asset purchases did. “This is because Fed asset purchases are likely to have larger eff

The gold price fell again on Thursday, sinking $28.75 to $1,730.50 per ounce. The price of gold fell as low as $1,704, however rebound back to $1,763.20 Friday morning – from lowest $1,704 is a level that is 10.9% off the $1,913 high posted earlier this week. Heavy liquidation of COMEX gold futures weighed on the yellow metal. Former Co-Chairman of Newmont Mining (NEM), Pierre Lassonde, made the following predictions on gold in an interview with King World News: Yeah, we’ve had a really good summer for gold, which was to some extent been unexpected. I was thinking that we would see more marking of time for a while on the gold price, but no, it’s been a hot summer for gold. But the one thing I really don’t like is a candlestick formation. Gold was going up too fast, it needed a breather, it needed a correction to be able to stay in a bull market. So we’ve seen a 10% correction, is it the end or is it going to see another 10%? This being the end of August, September

Gold is one of the chemical elements. Gold's chemical symbol is Au and its atomic number is 79. Its chief characteristics are that it is inert and malleable. Inert means gold does not interact with other chemicals or compounds. Gold doesn't tarnish and even the strongest acids have no effect. Thus, gold lasts forever - and stays shiny the whole time! Gold has many industrial uses, but its main historical uses have been for jewellery and money - both are a store of value. Gold has been used as a store of value for at least 5000 years. Gold is measured and prices are quoted in Troy Ounces and Grams. As an example of gold's ability to store value, 2000 years ago one ounce of gold would buy a fine man's outfit. Today one ounce of gold will still buy a good quality man's wool suit with enough left over to buy a few shirts, a tie, some underwear, socks, a pair of shoes and a belt! Gold has been called a "barometer of fear." When people are anxious

Gold turned sharply lower Thursday morning as risk aversion continued to subside in financial markets. CME Group announced another increase in margin requirements to trade gold after the market close on Wednesday. The exchange raised initial margin requirements rose to $9,450 from $7,425 per 100-ounce contract, and maintenance margin requirements to $7,000 from $5,500. The margin increases go into effect as of the close of trading on Thursday. CME last raised gold margin requirements two weeks ago. This factor contributing to the decline in the gold price below $1,800 per ounce. Commenting on the gold price sell-off, TD Securities wrote the following in a note to clients: “Technically, a very poor day for gold. A new high, a lower low (below Monday’s) and a (very likely) lower close combine to form a bearish key reversal signal on the daily chart today.” “There are a couple of things to note,” the firm continued. “On the one hand, we have been here before; the daily chart

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The gold price traded lower on Tuesday, sinking $14.50 to $1,883 per ounce, after the Shanghai Gold Exchange hiked margins to 12%. Gold price turned lower following the news out of China after hitting a new all-time high of $1,913 overnight. Commenting on the gold price rally, analysts at Wells Fargo wrote in a note to clients that “Investors’ concerns about the validity and efficacy of the U.S. debt deal, uncertainty about further deficit reduction suggestions … continued dollar weakness and the worsening of the European debt crisis all appear to have helped push gold even higher. While gold appears to be getting a bit frothy, its ascent is justified by the fundamentals.” While Wells Fargo may be correct about the fundamentals supporting the gold price, the yellow metal could be due for a correction in the short-to-intermediate term. Market Vane’s Bullish Consensus reading on the gold price, a closely-followed sentiment indicator, came in at 93% on Monday. Such a hig

The gold price touched a new all-time high of $1910 per ounce early Tuesday! The price of gold rallied alongside the broader stock and commodity markets as expectations of a fresh round of quantitative easing made the rounds on trading desks across Wall Street. WTI crude oil gained 1% to $83.10 per barrel, boosted by weakness in the U.S. dollar. Silver futures rallied 1.4% to $43.00 per ounce. Marc Faber – author of The Gloom Boom & Doom Report and one of the more prominent gold bulls in recent years – provided his latest outlook on the global economy, financial markets, and the gold price last week. “Financial conditions are today worse than they were prior to the crisis in 2008,” he asserted in a telephone interview from Thailand. “The fiscal deficits have exploded and the political system [in both the U.S. and Europe] has become completely dysfunctional.” As for the Federal Reserve, Faber once again spared no criticism of the U.S. central bank. “The Federal R

As latest update, Malaysia retail 916 Gold price hits RM200 per gram. One year ago, the price is only RM140 per gram, a 42.9% increasing in value. As I can remember, during 2005 916 Gold only cost RM68 per gram. Only in 6 years Gold value up about 200% in value, this also mean money value already drop about 200%.

The gold price soared to a new series of record highs on Friday as sovereign debt and recession worries continue to pressure Wall Street. The spot price of gold climbed as much as $54.98 to $1,878.90, a new all-time high, before paring its gains prior to the open of U.S. equity markets. The SPDR Gold Trust (GLD), the most liquid gold price proxy in the equity markets, surged $2.58 to $180.30 per share in pre-market activity. COMEX gold futures, per the December contract, hit a new record of $1,881.40 per ounce earlier this morning. A primary catalyst for strength in the gold price has been escalating concerns over the European sovereign debt and banking crises. Yesterday, the Wall Street Journal reported that U.S. regulators were elevating their scrutiny of European banks’ liquidity, while a Swedish regulatory agency warned banks that they should do take additional measures to prepare for a funding crisis. Data from the European Central Bank on Wednesday also revea

The gold price surged to fresh all-time highs Friday morning as risk aversion gripped financial markets across the globe. The spot price of gold rallied as much as $31.55 to $1,822.60 per ounce, eclipsing last week’s record high of $1,815.00. COMEX gold futures, per the December contract, reached a new high of $1,824.20 per ounce as of 9:15am ET. Strength in the gold price was fueled by rising worries over the state of the euro zone and U.S. economies. Equity markets in Europe tumbled, with financial shares posting significant losses. U.S. markets looked to open considerably lower, with futures on the Dow Jones Industrial Average plunging 223.00 points, or 2.0%, to 11,158.00. The gold price added to its gains this morning after weekly U.S. jobless claims came in at 408,000, above the consensus estimate among economists of 400,000. The prior week was revised from 395,000 to 399,000, while continuing claims rose to 3.702 million from 3.695 million. The disappointin

The gold price, at $1,785 per ounce, traded near unchanged on Wednesday following the news that producer prices rose more than anticipated. The price of gold showed a muted reaction to the release of the Producer Price Index (PPI), which rose 0.2% month over month and 7.2% year over year – both slightly hotter than a Bloomberg survey of economists. Commodities moved higher across the board with crude oil rising 1.5% to $87.99 per barrel and copper advancing 0.6% to $4.04 per pound. Silver rose above $40, climbing $0.15 to $40.05 per ounce. In the U.S., the gold price also indirectly received support from a Goldman Sachs research report. In a note to clients, Francesco Garzarelli, chief interest-rate strategist, altered his monetary policy forecast to include a third round of quantitative easing (QE3) in its “QE3 most likely scenario.” support gold price. “The central bank has indicated that its current economic forecasts warrant policy rates remaining close to zero f

The gold price advanced $16.50 to $1,783 per ounce Wednesday, spiking higher on the news that gross domestic product in the 17-nation Euro zone rose a mere 0.2%. The price of gold, which sank as lows as $1,728 per ounce early yesterday, climbed following the weak economic data out of Europe. Additional bond purchases from the European Central Bank are highly likely following Europe’s weakest GDP figure since the global economy was mired in a recession in 2009. The euro fell to 1.438 against the U.S. dollar on speculation that the ECB will cut interest rates at its next policy meeting. There is “plenty of fuel for the fire to see gold go higher,” according to Jeffrey Wright, metals and mining analyst at Global Hunter Securities. In a note to clients, Wright reiterated his bullish outlook on gold and his six-month target of $2,000 per ounce. The two primary catalysts for his positive stance on the yellow metal were further accommodative monetary policies from the Feder

The gold price support on Tuesday morning as investors shifted funds into equities on the hope that the stock market’s recent correction is over. The price of gold support at 19.38 to $1,766.30 per ounce and now trades $48 lower than its record high of $1,815 per ounce, posted on August 11. Weakness in the U.S. dollar, which fell against the euro and Australian dollar, failed to bolster gold this morning. Oil climbed 0.3% to $85.66 per barrel while silver advanced $0.17 to $39.27 per ounce. With equities undergoing quite the rollercoaster ride, U.S. Treasuries continued to serve as one the primary safe havens alongside investments tied to the gold price. The ten-year yield tumbled from 2.56% to as low as 2.09%, its lowest level since December 2008. Real interest rates remain firmly in negative territory, a fact that continues to augur well for gold prices. Bill Fleckenstein, a prominent investor and long-time bull on the gold price, summed up the bond market’s move

Chuck Jeannes, CEO of Goldcorp (GG), said that despite gold reaching a series of new record highs in recent weeks, there remains a “really health mix of demand growth for gold.” In a CNBC interview, Jeannes reiterated his positive outlook on the gold market for a variety of reasons, but did not provide a specific price target for the yellow metal. The Goldcorp CEO pointed to rising investment demand as the economic outlook in the U.S. and euro zone continue to worsen. A “recession watch” points to owning gold, he noted. When asked by Jim Cramer if he subscribed to the theory that the SPDR Gold Trust (GLD) does not hold all of the gold that it purports to, Jeannes responded that “I don’t buy into the conspiracy theorists…I am not concerned about GLD not having the gold in the vault.” As for physical demand, Jeannes contended that it “has been very strong,” particularly in China and India.

The gold price moved lower closing this week with, falling $14.05 to $1,7460 per ounce. Risk appetites rebounded, sending the price of gold moved to the downside and global stock markets broadly higher. The European Stoxx 600 climbed over 2%. Gold prices advanced after initially falling on the news that France, Italy, Spain and Belgium would temporarily ban short-selling on select stocks in order to calm volatility. Bond yields in Italy and Spain fell on rising confidence as well as expectations that the European Central Bank will continue to purchase the sovereign debt of its fiscally-strapped member states. Weakness in the gold price came after the CME Group announced an increase in margin requirements on trading in gold futures. The margin hike followed a substantial increase in gold volatility in recent weeks a common maneuver used by the exchanges to calm outsized price movements. Commenting on the CME’s decision, Dennis Gartman applauded the move. “This is lo

The gold price dove Friday morning after the CME Group raised margins on gold futures contracts by 22%. The price of gold traded to a new all-time high of $1,815 per ounce overnight before falling back to $1,756. Initial margin will climb from $6,075 to $7,425 and variation margin – for hedging purposes – will move up to $5,500 from $4,500. The move by CME led to liquidation in electronic trading on the COMEX. One primary catalyst for the gold price rally and broader market weakness on Wednesday was escalating concerns that the European sovereign debt crisis was spreading to the euro zone’s second-largest economy, France. Rumors surfaced yesterday that Societe Generale – one of France’s largest banks – was facing liquidity issues related to its sovereign debt exposures. In addition, speculation arose that the ratings agencies were preparing to downgrade France’s credit rating from AAA status. However, Societe Generale’s CEO emphatically denied the speculation, and

The ascent in the gold price raged on Thursday morning, rising to $1,806.45 per ounce. The price of gold climbed alongside the U.S. dollar as investor risk aversion re-emerged in global equity markets. Although the gold price pared its gains following the FOMC announcement, it remained firmly in positive territory and close to its all-time record high. The price of gold was supported by the fact that the Bernanke-led Fed reiterated its commitment to fighting deflation and left the door open for further easing measures. Commenting on the Fed statement, analysts at Goldman Sachs wrote in a note to clients that “The committee adopted an even easier policy stance than expected…Although some form of strengthening of the guidance language was expected and the new guidance remains conditional on the economic outlook, we see this step as a dovish surprise.” Goldman went on to provide analysis that augurs well for higher gold prices. “The committee effectively signaled an easin

Sparked by fears over a global economic slowdown, the gold price reached a new all-time high of $1,780 per ounce early Tuesday morning. The price of gold has rallied over $100 in the past two days alone as investors poured funds into the yellow metal and liquidated cyclically-sensitive stocks and commodities. However, in early afternoon trading the gold price surrendered a significant portion of its gains, sliding back down to $1,725 per ounce. Weakness in the gold price coincided with a rebound in the broader equity and commodities markets as risk aversion subsided. The Federal Reserve affirmed its dovish stance on monetary policy at its Federal Open Market Committee (FOMC) meeting, but did not announce plans to launch a third round of quantitative easing (QE3). In its official statement, the Fed noted that since the prior FOMC meeting in June, “economic growth so far this year has been considerably slower than the Committee had expected,” and that “downside risks to t

The gold price soared to a new all-time high, touching $1,722.90 per ounce Tuesday morning. The price of gold advanced on the back of the United States being stripped of its AAA rating by S&P. The debt downgrade led to worries over the longer-term sustainability of the U.S. dollar as a reserve currency, prompting a flight to gold. Helping to amplify the trepidation among investors were fresh worries over contagion in Europe as Italian and Spanish debt came under heavy selling pressure. S&P’s downgrade and the debt ceiling debacle in Washington have certainly contributed to the record-setting run in the gold price. However, this is only half the story. A series of disappointing U.S. economic data has led to concerns over a new recession and to prognostications that the Federal Reserve will hold interest rates near zero as far as the eye can see. Late last week, Jan Hatzius, chief U.S. economist at Goldman Sachs, lowered the firm’s GDP estimates in 2011 to 1.

The gold price traded higher Sunday night, gaining $25.50 to $1689.25 per ounce. The price of gold spiked higher in reaction to the news late Friday that Standard & Poor’s downgraded the United States credit rating to AA+ from AAA – stripping the U.S. of the top rating it held for 70 years. The move prompted the European Central Bank to begin “actively” purchasing sovereign debt of Euro-zone nations. The S&P 500 sank 7.2% last week and has now plunged nearly 200 points, or 13%, from peak to trough in a short two weeks. Stocks in the U.S. have fallen for nine of the past ten sessions. Meanwhile, the yield on the 10-year U.S. Treasury bond fell as low as 2.33% on Friday and the CBOE Volatility Index (VIX) soared toward the 40 level. The Reuters-Jefferies CRB Index touched its lowest level in seven months. The gold price rose $37.20 last week, making it one of the only asset classes outside of Treasury bonds to move higher. Fear is back. S&P 500 stock futu

The gold price climbed $10.20 to $1,657.85 per ounce Friday morning, holding firm despite a stronger than expected jobs report in the United States. The Labor Department reported a gain of 117,000 nonfarm payrolls versus an estimate of 85,000 according to a Bloomberg survey of economists. The unemployment rate fell 0.1% to 9.1%. The weak jobs picture has been a key area of focus for the U.S. Federal Reserve. Tepid jobs data, notwithstanding this stronger than anticipated report, has been a key driver of rising speculation that Chairman Bernanke may be preparing for a third round of quantitative easing. Gold prices are advancing as traders and investors add to positions in the yellow metal via physical gold, gold futures, and exchange-traded funds backed by gold bullion. Marc Faber, not exactly the biggest fan of Ben Bernanke, had some interesting words for the Federal Reserve Chairman. Faber, the author of The Gloom, Boom and Doom Report, said in a Bloomberg interview

The gold price continued its record-setting run Thursday, climbing to $1,678.50 per ounce before back to 1658 this Friday (Eastern Time). The price of gold soared despite broad-based strength in the U.S. dollar, which gained 4% versus the yen after intervention in the currency markets by the Bank of Japan. Concerns over the prospect of a double-dip recession in the U.S. have boosted the allure of gold and weighed heavily on global stock markets in recent weeks. The gold price advanced to a new record high yesterday for the fifth day in eight trading sessions. The spot price 0f gold reached an intra-day high of $1,672.80 per ounce, boosted by ongoing economic worries in the United States and Europe. COMEX gold futures, per the December contract, hit a new all-time high of $1,675.90 per ounce. With the gold price posting a series of new all-time highs this week, sentiment toward the yellow metal has risen in kind. Market Vane’s Bullish Consensus figure reached 87% on Wed

The gold price soared to yet another record high early Wednesday, surging as much as $11.50 to $1,672.80 per ounce before backing off to trade just under the $1,665 level. The price of gold has gained $165, or 11%, since the end of the second quarter, bolstered by a slew of soft economic data in the U.S. Investment demand for gold, silver, and other precious metals such as platinum and palladium, continues to rise while the appetite for conventional stocks falls. Even central banks have recognized the place precious metals should occupy in a portfolio, evidenced by this week’s news that the Bank of Korea recently purchased $1.24 billion of gold. The SPDR Gold Trust (GLD), a proxy for the gold price and the world’s largest gold ETF, traded to a record high early Wednesday, rising $0.00 to $162.00 per share. COMEX gold futures, per the December contract, reached a fresh record high of $1,675.90 per ounce. “In a world of confusion amidst collapsing stock markets and weak cur

The gold price soared to yet another all-time high Wednesday morning, rising $37.09 to $1,640.80 per ounce. The price of gold dipped briefly following the deal to raise the debt ceiling, but quickly bounced back amid concerns that the United States would lose its AAA credit rating. Helping to further boost gold prices was a fresh batch of economic data showing the U.S. economy was slowing materially. Weak Q2 GDP data, downward revisions to previous quarters, and softer June manufacturing figures has fueled a surge in investment demand for gold and investments tied to the gold price. News this morning that consumer spending fell 0.2% in June was weaker than market expectations of a 0.1% gain. The gold price has begun to significantly outperform cyclically-sensitive stocks and commodities as a series of disappointing U.S. economic reports has been released. Gold has also outperformed its sister precious metal, silver, in recent months. Silver – which sits 20% below its

The gold price declined Monday morning as a deal was finally struck between President Obama and House Republicans to raise the debt ceiling. When the news broke last yesterday, gold prices spiked as low as $1,607 per ounce. Stocks and cyclical commodities, such as oil, rallied on the announcement of a deal. Investors and traders who purchased gold as an insurance policy against a debt default liquidated positions. However, the price of gold rebounded back to $1,629 Tuesday morning on lingering worries over the possibility of a credit rating downgrade. Whether the debt ceiling agreement went far enough to address the long-term fiscal issues facing the United States was being hotly debated Monday morning. In a recent interview with King World News, long-time gold bull John Hathaway discussed his outlook for the gold price in light of the United States debt ceiling impasse. When questioned about the status of the U.S. dollar, Hathaway – who runs the Tocqueville Gold Fun

Gold plunged nearly $20.00, sinking as low as $1,607.50 per ounce, after Sunday’s news that Senate Majority Leader Harry Reid approved a tentative agreement with leaders of the House of Representatives and the Obama administration to raise the U.S. debt ceiling. Approval by Senate Democrats is still necessary to cement a deal, but it appears that the debt ceiling will be raised and a default averted.