Malaysia Gold Investment

The gold price held firm near $1,620 per ounce Friday morning despite encouraging economic news in the U.S. and Europe. While the price of gold stabilized, silver rallied $0.31, or 1.0%, to $30.27 per ounce. U.S. equity markets looked to open substantially higher, with S&P 500 futures up 15.00 points, or 1.3%, at 1,164.00. Weekly jobless claims in the U.S. fell 37,000 to a seasonally-adjusted 391,000, the lowest level since April 2 and below the consensus estimate among economists. GDP was revised up from 1.0% to 1.3%, above the 1.2% expected by economists. In Germany, the lower house of parliament voted to expand the size of the European Financial Stability Fund (EFSF), and the upper house is expected to pass the measure on Friday. Commenting on Thursday’s gold price sell-off, Standard Bank Plc analyst Marc Ground wrote in a note to clients that “Momentum is lacking as investors adopt a seemingly cautious attitude to entering the gold market after last week’s abru...

The gold price dip below $1,600 per ounce on Thursday morning sell-off was fueled by strength in the U.S. Dollar Index (DXY), which advanced 0.5% to 78.42. Yesterday’s gold price rally coincided with widespread gains in many dollar-denominated asset classes, fueled by a 0.4% rise in the euro currency to 1.3585 against the greenback. Strength in the euro came amid rising hopes that euro zone officials were considering a more robust financial plan to stem the tide of the sovereign debt crisis. One measure being discussed would be to leverage the €440 billion European Financial Stability Fund (EFSF) to allow for additional funds to be borrowed – likely from the European Central Bank (ECB) – without increasing the actual size of the EFSF. While the idea of leveraging the EFSF helped propel the markets higher on Tuesday, such a plan carries with it considerable risks. Most importantly, it would put German and French taxpayers on the hook for further losses should the financial...

Gold price moved sharply higher Wednesday morning, gaining $31.00 to $1,658 per ounce. After sliding 6.5% over the past two trading sessions, the price of gold moved higher on bargain hunting among investors and traders. Silver spiked higher by a huge $1.82, or 5.9%, to $32.56 per ounce. On a closing basis, gold’s sister precious metal declined 24.4% over the last six trading days. Optimism that European leaders are beginning get serious about stemming the waning confidence in the continent’s banking system helped buoy global stock and commodity markets. Marc Faber, publisher of The Gloom Boom & Doom Report , provided his latest thoughts on the gold price in an interview with CNBC on Monday. Faber, who has been correctly bullish on gold for most of the past decade, noted that the price of gold has become “very oversold” in the near-term. “We overshot on the upside when we went over $1,900,” he asserted, and “We’re now close to bottoming at $1,500.” Faber subsequen...

Gold price continued to fall Tuesday, plunging $34.25 to $1,625 per ounce. Another hike in margins by the CME Group helped greased the skids of the current correction in the gold price. Today’s decline comes on the back of the price of gold posting its worst week since 1983 as broad-based liquidation engulfed the precious metals space. The spot price of gold tumbled $96.48 to $1,644.27 on Friday, bringing its weekly loss to 9.2%. COMEX gold futures slid $101.90, or 5.9%, to $1,639.80 per ounce on Friday, marking the third largest single-day nominal decline ever. With today’s drop, the gold price is now 15.6% below its $1,922.20 all-time high, reached less than three weeks ago on September 6. In light of yesterday sell-off in gold, coupled with last week’s substantial decline, UBS analyst Edel Tully explained her reasoning for the yellow metal’s weakness in a note to clients. “Gold is one of the few assets that remains in positive territory this year, in a sense it is...

916 gold drop to RM197/gm after keep in all time high price at RM205 for almost a month.

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The gold price plunged again Friday closing, sinking $56.70 to $1,684 per ounce. Gold prices have now fallen in excess of $100 over the past 48 hours. Heavy liquidation in COMEX gold futures has led to the fierce decline in the price of gold. Broad-based selling on Wall Street amid disappointing Chinese economic data, fears over a double-dip recession, and continued worries over the European sovereign debt crisis have weighed heavily on financial markets. The price of gold came under significant pressure yesterday as the U.S. dollar rallied to a seven-month high against a basket of foreign currencies. The spot gold price fell to its lowest level since mid-August. The SPDR Gold Trust (GLD), the world’s most liquid gold price proxy, tumbled to $164.60 Friday morning – leaving the world’s second largest ETF lower by 6.4% this week. Legendary investor Jim Rogers echoed this positive sentiment on the dollar in a CNBC interview on Thursday. “I own the dollar. As we talked ...

The gold price tumbled $45.91, or 2.6%, to $1,736.44 Friday morning amid significant weakness in financial markets across the globe. Silver plunged alongside the price of gold, by $2.61, or 6.6%, to $37.01 per ounce. U.S. markets were set to open with large losses, as S&P 500 futures dropped 30.00 points to 1,125.75. In addition to disappointment stemming from yesterday’s Fed meeting, a weaker than expected report on the Chinese economy helped fuel the selling. HSBC’s preliminary China Manufacturing Purchasing Managers’ Index, or “flash” PMI, slid to a two-month low of 49.2 in September, below the 50 level separating expansion from contraction. The gold price and other dollar-denominated asset classes posted steep losses after the Ben Bernanke-led Fed chose to extend the average maturity of its holdings of U.S. Treasuries, also known as Operation Twist. Under the terms of the plan, by June 2012 the Fed will purchase $400 billion in Treasuries with remaining maturi...

Due to US Dollar is getting stronger again Malaysia Ringgit, Gold price in USD is drop lower but in RM gold price is move higher so when Malaysia start print RM20 paper money, gold price in RM will fly to new high.

Gold turned lower and the U.S. dollar rallied after the Federal Reserve announced plans to extend the average maturity of its holdings of U.S. Treasuries, also known as Operation Twist. The U.S. Dollar Index, a trade-weighted measure of the greenback versus several of the world’s other leading currencies, climbed from negative territory on the day near 76.80 to as high as 77.33. The euro gave up its modest gains against the dollar as it slid 0.2% to 1.3673 this afternoon. The Federal Reserve announced in its Federal Open Market Committee (FOMC) statement that it will extend the average maturity of its holdings of U.S. Treasuries to provide additional monetary policy accommodation. In doing so, the Fed is essentially repeating “Operation Twist,” the 1960s policy in which the U.S. central bank purchased longer-term Treasuries and sold an equal amount of shorter-term Treasuries in the hopes of driving long-term interest rates lower. Goldman Sachs chief U.S. economist Jan Hat...

Gold extended its gains Wednesday morning, as gold price surged $30.80, or 1.7%, to $1,809.70 per ounce. The rebound in gold follows the sector’s large declines from yesterday. Monday’s weakness was fueled by considerable strength in the U.S. dollar, particularly against the euro currency. On Tuesday, however, gold and silver bounced back alongside the general commodities complex despite stabilization in the euro/dollar currency cross near 1.3670. Dennis Gartman, the long-time commodities investor and publisher of The Gartman Letter, wrote on Monday that given strength in the U.S. dollar, commodities and equities are likely to remain under considerable selling pressure. “We have to believe that gold too shall be and remain lower,” Gartman wrote. “There’s no other course of action” for the gold price to follow, he continued. While Gartman’s short-term bearish outlook for the gold price appeared quite prescient given yesterday’s sell-off, many other investors see escalat...

The gold price posted substantial losses near $1,779 Tuesday morning as amid broad-based liquidation in commodities and a rally in the U.S. dollar. The price of gold climbed to as high as $1,832 per ounce in overnight trading but relinquished its gains ahead of the open of U.S. equity markets. In contrast to the gold price, silver declined alongside cyclical commodities, by 3.7%, to $39.33 per ounce. The stability in the price of gold came after European policymakers failed to develop any new concrete plans for dealing with a potential Greek default in meetings over the weekend. Commenting on the recent gold price weakness, UBS analyst Dominic Schnider wrote in a note to clients that “We’re in a consolidation, a very small one, since the beginning of September. Going forward now, we’re probably going to test somewhere the lows that we have seen at the end of August.” The level Schnider referred to occurred on August 25, when the gold price hit $1,704 per ounce. While...

HSBC was the latest investment bank to raise its gold price forecasts and is now calling for gold to reach $2,025 per ounce in 2012. In the firm’s report, HSBC analyst James Steel wrote that “Despite gold’s high volatility and wide price swings, we remain positive on bullion. The steep rise to $2,025/oz for 2012 is based primarily on heightened investor anxieties and the paucity of alternative safe-haven assets.” HSBC went on to say that ““We believe gold’s 10-year bull market remains firmly intact, despite high volatility, with prices up 29 percent already this year…The euro zone debt crisis, currency wars, and deep uncertainty among investors are among the factors driving prices higher…Gold is benefiting from growing investor anxiety about ineffective government policies, unsustainable government debt levels, and the potential for a further global slowdown.”

Dollar liquidity provisions are unlikely to be a game The gold price held steady near $1811 per ounce Friday closing as markets await the outcome of a meeting among euro zone finance ministers in Poland. While the price of gold stabilized, the euro currency slid 0.7% to 1.3779 against the U.S. dollar. Equity markets in Europe shrugged off the euro’s weakness to post modest gains. U.S. markets nonetheless looked to open slightly lower, with S&P futures down 2.50 points at 1,201.75. The primary catalyst for this week gold price weakness was the announcement of a coordinated effort among several of the world’s largest central banks – including the ECB, Fed, Bank of England, Bank of Japan, and Swiss National Bank. The measures involved adding U.S. dollars into the European financial system to combat concerns over the health of many euro zone banks. This latest display of financial assistance in Europe fueled selling in investments tied to the gold price and buying in cy...

The gold price plunged below $1,800 per ounce Friday morning with profit-taking in the gold futures market fueling the sell-off.Gold price stabilized near $1,782 after the European Central Bank announced “dollar liquidity” measures in cooperation with the U.S. Federal Reserve. With Greece on the verge of default, central banks are furiously attempting to inject confidence into the international monetary system. While equity markets may therefore have more room to run in the short-term, the facts remain that with Greek one-year yields over 140% and ten-year yields near 25%, the credit markets are saying that it is a near certainty that Greece will default. Kyle Bass, founder of hedge fund Hayman Capital, elaborated on this dire outcome in an interview with CNBC yesterday. Bass – who correctly has been bullish on the gold price and bearish on the euro zone for the past several years – argued that a Greek default is inevitable due largely to the fact that the nation’s sign...

The gold price moved marginally lower Thursday morning, slipping $11.89 to $1,821.81 per ounce. The price of gold bounced back after disappointing retail sales data. The U.S. dollar weakened versus the euro and the yen while oil and copper prices declined 0.8% and 0.7%, respectively. Silver held near unchanged at $40.98 per ounce. Despite yesterday’s gold price rally, long-time commodities investor Dennis Gartman noted that the yellow metal has made a series of lower highs thus far in September. Along with this bearish technical development, Gartman contended that gold could fall victim to further broad-based liquidation if financial markets continue to sell-off due to escalating sovereign debt issues in Europe. In his daily Gartman Letter , he wrote that “Gold’s fortunes… seem to be waning at the moment…A move downward through $1802¬$1807 would likely set off a sizeable sum of stop loss orders. Caution… and we think rather extreme caution… is advised.” Marc Faber, ...

The gold price rallied Wednesday morning, gaining $28.10 to $1,843.10 per ounce. Gold prices have oscillated in a wide trading band over the past two months, falling as low as $1,704 in late August and then climbing to a fresh record of $1922.20 in early September. The price of gold is currently trading in the middle of the range as investors and investment strategists debate whether the yellow metal is set to break out or break down. Commenting on the liquidation that engulfed the gold price, Stifel Nicolaus strategist Elliot Spar wrote in a note to clients that the “crack in gold is an indication that the fast money wants out no matter what the asset is.” Long-time gold bull Richard Russell of Dow Theory Letters , the world’s longest-running daily investment letter, offered a more positive view on the gold price. Russell wrote that “Gold has been climbing atop a 150-day moving average for the last two years. The current sharp correction has not reversed or violated ...

The gold price fell $14.27 to $1,818.70 Tuesday morning as sovereign debt concerns in Europe led to broad-based liquidation in financial markets. Gold equities looked to open lower alongside the price of gold. While investments tied to the price of gold have largely benefited from global economic worries, this was not the case this morning. Commenting on the gold price sell-off, long-time commodities investor Dennis Gartman wrote in his daily Gartman Letter that “The margin clerks will be sharpening their knives today and will take dead aim even upon gold if that is where they think they can find liquidity.” He also noted that some investors “will argue that gold will prove valuable and will hold its value even as stock prices plunge, and in the long run they may well be right.” In the U.S., although economic data was relatively light last week, speeches by Fed Chairman Ben Bernanke and President Barack Obama illustrated that policymakers remain quite concerned over the...

In President Obama’s much-anticipated speech last week, he proposed a plan that would inject $447bn into the US economy. The focus of the plan is a $250bn reduction in payroll taxes, while $150bn has been allocated to infrastructure spending. Speculation is that this plan could add between one and three percentage points to GDP in 2012. Nevertheless, markets have been uninspired, with safe-haven assets (such as gold) continuing to garner interest. Perhaps investors are sceptical that Congress will pass this plan (especially after the recent debt ceiling negotiations). Fed Chairman Bernanke’s address last week disappointed market participants who were looking for a stronger indication of further QE3. However, analyst has pointed out, he again referenced the next FOMC meeting (21 September) which may signal that monetary easing is on the cards. While our bullish view on gold is independent of further monetary easing by the Fed, such an action would only serve to open up more upside. Addi...

The gold price slid $14.3 to $1,855.80 per ounce Friday night closing amid widespread liquidation in precious metals. In doing so, the price of gold surrendered approximately half of yesterday’s 2.9% rally and turned back into negative territory for the week. Yesterday the gold price held firm after Fed Chairman Ben Bernanke’s speech on the economy and U.S. President Barack Obama’s jobs speech last evening. COMEX gold futures – per the December 2011 contract – climbed to $1,889.10 in overnight trading, but tumbled to as low as $1,825.50 at approximately 6:15am ET on heavy volume. According to Jan Hatzius, chief U.S. economist at Goldman Sachs. In a note to clients, Hatzius wrote that Bernanke’s “description of current conditions and the economic outlook was broadly in line with other recent Fed communication—including the August FOMC statement and minutes, and his recent speech at the annual Jackson Hole conference.” Hatzius also noted that while Bernanke “continued to ...

The gold price rallied $49.25 to $1,867 per ounce Friday morning, continuing its recent string of outsized moves. After falling $57 yesterday and briefly slipping under $1,800, the price of gold steadied ahead of a key speech later today from Fed Chairman Ben Bernanke where he will address the state of the economy. Several investment strategists have suggested that Bernanke may telegraph his intention to announce additional monetary accommodation at the September 20-21 Federal Open Market Committee meeting. Gold prices held firm this morning following the announcement from the European Central Bank (ECB) that interest rates were left unchanged at 1.5%. President Jean-Claude Trichet will hold a press conference at 2:30pm eastern time today. Trichet, who has repeatedly stated his inclination to pursue “strong vigilance” with respect to inflation, is expected to offer a more dovish outlook on price pressures in the euro zone. When asked in a CNBC interview on Thursday if ...

The gold price slid 2.5% Thursday morning, declining $60.20 to $1,815 per ounce. After trading to a new all-time high early yesterday, the price of gold has plunged $92 over the past 30 hours. Cyclically-sensitive assets climbed higher with stock prices rising 1% as measured by the most actively traded S&P 500 futures contract. Oil rose 1% to $85.90 per barrel while copper gained 1.1% to $4.12 per pound. Speculation that President Obama will announce an economic stimulus package at a press conference tomorrow helped buoy stocks and commodities. The U.S. dollar, which has rallied for six consecutive days as measured by the U.S. Dollar Index (DXY), moved lower versus its foreign counterparts.Weakness in the gold price yesterday was fueled in part by a relatively rare occurrence in recent months – an encouraging piece of U.S. economic data. The ISM services index for August rose to 53.3, north of the 51.0 consensus estimate among economists. The better than expected ...

Gold price traded to yet another record high at $1,921 per ounce overnight before moving back below $1,900 Wednesday morning. The price of gold surged following heavy liquidation in European stock markets on the back of a key election loss by German Chancellor Angela Merkel’s political party. S&P 500 stock futures plunged 27.30 to 1,142 while the cyclically-sensitive copper price, lower by 1.8% to $4.05 per pound, headed for its largest loss in over a month. The gold price rallied and equity markets in Asia and Europe posted steep losses amid escalating euro zone sovereign debt concerns. The rising fears stemmed from the news that German Chancellor Angela Merkel’s political party suffered its fifth election loss this year and its worst showing since 1990. Although this week’s economic calendar is on the lighter side, there are several key items likely to impact gold prices and the broader markets. The ISM Services Index is due out later this morning, followed on We...

The gold price surged Tuesday morning climbed back to $1,900 per ounce after last week the Labor Department reported that zero nonfarm payrolls were created in August versus expectations of 68,000, according to a Bloomberg survey of economists. This was the weakest jobs data since September 2010. Furthermore, July’s payroll figures were revised downward. The unemployment rate was unchanged at 9.1% in August.

The gold price surged closing this week ahead of the release of the monthly jobs report and rallied further on the weaker than expected data. The price of gold climbed $56.12 to $1,882.30 per ounce after the Labor Department reported that zero nonfarm payrolls were created in August versus expectations of 68,000, according to a Bloomberg survey of economists. This was the weakest jobs data since September 2010. Furthermore, July’s payroll figures were revised downward. The unemployment rate was unchanged at 9.1% in August. Gold prices have risen on the back of the prospects for further economic weakness in the second half of 2011 and into 2012. Furthermore, the Federal Reserve’s recent pledge to hold the Fed funds rate near zero until mid-2013 has fostered an even more favorable environment for the price of gold. Until a more consistent set of encouraging economic data emerges, the gold price is likely to remain well supported. Robin Bhar, senior metals analyst with...

The gold price oscillated near $1,830 per ounce Friday morning, trading near unchanged on the day. After sliding off its $1,913 all-time high posted on Aug 22, the price of gold has been held in check under $1,850 as investors and traders weigh whether a deeper correction is in the offing. Economic figures continue to be scrutinized for clues as to whether the recent deterioration in data is merely a pause in a recovery, or a double-dip recession is forthcoming. Tomorrow’s unemployment report from the Labor Department will offer information as to whether the jobs market continues to stagnate. The lack of job creation has helped keep central bankers in the dovish camp with respect to monetary policy – a fact that has helped boost the gold price. Looking ahead to September – which is historically the best month for gold prices – the upcoming Federal Open Market Committee (FOMC) meeting is likely to serve as the key catalyst for the yellow metal. Michael Churchill, head of ...

The gold price dropped $6.00 Wednesday to $1,829.50 per ounce after gaining 2.6% during yesterday’s session. While the price of gold has been mired in a trading range over the past two weeks, the broader stock and commodity markets have regained their footing. Stocks are on pace to advance for the fourth consecutive day on rising expectations that the Federal Reserve is prepared to implement additional monetary easing measures at the September Federal Open Market Committee meeting. The mention of additional stimulus measures helped send the gold price toward $1,840 per ounce. Looking ahead, many market strategists have adjusted their monetary policy outlooks to account for a more dovish Federal Reserve for longer than previously expected. The latest strategist to do so was Macquarie’s Stephen Harris, who in a note to clients wrote that “We think the Fed could keep rates unchanged until 2015. This is an increase from our previous expectation of 2014 and indeed, we don’t...