Malaysia Gold Investment

The gold price held steady near $1,719 per ounce Wednesday morning as the gold consolidated following yesterday’s rally. The price of gold oscillated between gains and losses in overnight trading as it mirrored the general path of the euro/U.S. dollar currency cross. The euro traded near unchanged against the greenback at 1.3319 this morning, while European equity markets were mixed. U.S. markets looked to open moderately in the black, with S&P 500 futures up 0.4% at 1,195.25. Commenting on the outlook for the gold price, J.P. Morgan metals strategist Michael Jansen wrote in a note to clients on Monday that “In as much as broader financial deleveraging is continuing to pressure the gold price the reality is that the retail sector is a strong buyer on dips as judged by the move towards record levels on length in the ETF sector, now above the 2350mt mark.” “Gold’s next level of main resistance is in the $1730 – $1770 area,” Jansen added. “We remain friendly basis the

The gold price surged Monday morning, rising $37.50 to $1,718 per ounce. Rumors that the International Monetary Fund (IMF) was preparing a €600 billion ($801 billion) rescue package for Italy, combined with strong retail sales in the U.S. over the weekend, helped fuel a potent rally in the stocks, commodities, and the price of gold. S&P 500 stock futures, which gained 33.20 to 1186.60, have fallen for seven consecutive trading sessions heading into the day. WTI crude oil rose 2.9% to $99.58 per barrel while copper advanced 2.7% to $3.37 per pound. Commenting on the outlook for gold prices, Barclays Capital precious metal analyst Suki Cooper predicted in a recent Bloomberg interview that the gold price will average $1,875 per ounce in the fourth quarter of 2011 and $2,000 in 2012. However, she also stated that “In the near term prices look a little soft on the downside, but we still remain positive longer-term.” Cooper attributed her bullish forecast to ongoing wor

gold price, online gold trading, gold, gold news update Malaysia retail gold price still keep in high price when international gold price had dip below USD1,700 per ounce. However, in this price the demand on gold still high in Malaysia.

While we continue to believe that gold, structurally and fundamentally, remains in an upward trajectory, we would not be surprised to see gold push lower, and even push towards its 200-day moving average of $1,600. There are two factors which are putting downward pressure on gold. The first is weak EM currencies in general, and the Indian rupee (INR) in particular. The second is funding stress in Europe. Physical demand is much weaker than it was six weeks ago. Much of the demand weakness is from India where the rupee has depreciated by more than 7% since the start of November. This has pushed gold denominated in rupees to all-time highs this month. Even now, with gold coming off in dollar terms, gold denominated in rupees is still very close to its all time highs. In August, with gold around INR80,000/oz — INR83,000/oz, we saw strong demand, especially from India. Currently the gold price is at INR88,000/oz. If the rupee stays around the current INR52/$ level, and gold falls to $1,600

Worse-than-expected data flow on Eurozone economic activity and a disappointing German bond auction, saw the dollar maintain a strengthening trend for most of yesterday. For most of the day, precious metals in turn were weighed down by the stronger dollar, with gold and silver finally managing to make modest gains during US trading hours, and overnight in Asia. For the most part, gold has been propped up by physical demand, as buyers see current prices as particularly lucrative, while silver has been riding on gold’s coat tails. However, the extent of physical demand we are seeing has not been substantial enough to push gold significantly. For any significant move upward in precious metals, we’d need to see the dollar weaken. Given that European equities appear to be staging a bit of a recovery today, perhaps we will see downward pressure on the euro ease further, which could open the way for more upside in precious metals, and commodities in general.

The gold price fell back under $1,700 per ounce Wednesday till Thursday morning. At $1,691, the price of gold has fallen over $100 from its November 7 closing price of $1,795. Weakness in global stock and commodity markets has weighed on gold as a wave of deleveraging has hit asset prices across the board. S&P 500 stock futures fell 10.30 to 1172.50 this morning while cyclically-sensitive copper and platinum prices dipped 2.7% and 1.1% to $3.25 per pound and $1,554 per ounce, respectively. Russell went on to say that “My advice. We are moving closer and closer to what I call ‘survival period’ — the period where the magic of compounding turns into what will be the poison of compounding. This isn’t a time for timing. This is a time for action. Reduce your exposure to bonds and all items that provide fixed interest rates. Similarly, reduce your exposure to stocks except the gold miners. Look to expand your positions in inflation-protected assets, especially gold.” “Thos

The gold price rebounded Wednesday morning from yesterday’s steep sell-off, by $21.74, or 0.9%, to $1,699.11 per ounce. The price of gold was supported by a worse than expected revision to third quarter U.S. GDP – which at 2.0% came in well below the 2.5% consensus estimate among economists. Silver bounced modestly in concert with the gold price, by 0.4% to $31.74 per ounce. European markets were modestly lower in Germany and France, while U.S. equity markets looked to open slightly in the red as well – with S&P 500 futures down 4.00 points, or 0.3%, at 1,186.75. A sharp sell-off in European markets quickly spread to the U.S. yesterday, forcing investors to raise cash by selling any and all asset classes – including those tied to the gold price. A cautious report from Moody’s Investors Service on France helped fuel the fire. The rating agency warned that a sustained rise in French bond yields combined with slower economic growth could threaten the nation’s AAA cre

The gold price declined Tuesday Morning, sliding $48.85 to $1,712 per ounce. The price of gold briefly traded under $1,700. Weakness in global stock prices pressured the yellow metal as well as the entire commodities complex. Ongoing sovereign concerns over Europe’s debt crisis combined with news this morning that the “super committee” in the U.S. has failed to reach an agreement to cut $1.2 trillion in spending. Oil and copper fell 1.5% and 2.2% to 96.32 per barrel and 3.34 per pound, respectively, while S&P 500 stock futures retreated 15.50 to 1198.40. Commenting on the move lower in financial markets, long-time commodities investor Dennis Gartman wrote in The Gartman Letter on Friday that ”No prisoners were taken and no place offered solace. The grains plunged; energy plunged; equities obviously plunged; the base metals plunged… and all of these were understandable amidst the chaos of the moment, but gold plunged perhaps the worst of all, falling precipitously a

With gold suffering its worst week since September 19-23, many investors have been left wondering if further downside lies ahead. The tepid performance of the yellow metal in recent months has led to a rising sense of “apathy” among gold investors, according to Forbes contributor Tom Aspray. This afternoon, Aspray argued that this recent lack of interest in the gold sector is a likely catalyst for higher prices in the months ahead. “The $54 decline in the February Comex Gold contract Thursday took the futures to two-week lows, while SPDR Gold Trust (GLD) lost 2.5%,” Aspray wrote. “The rather steep decline did not seem to drive headlines like it would have a few months ago…Most analysts seem to be pointing to the drop in crude oil prices and firmer US dollar for gold’s decline. Another factor may be the missing $600 million in MF Global customer funds, which has jarred the confidence of futures traders around the world.” Aspray went on to say that “The lack of reaction to

The gold price rebounded Friday closing, advancing $5.20 to $1,724 per ounce. The price of gold stabilized following yesterday’s $44.53, or 2.5%, decline amid heightened European sovereign debt concerns and fresh worries over the prospect of a recession across the Atlantic. S&P 500 stock futures rose 8.40, crude oil climbed 1% to $99.79 per barrel, and the cyclically-sensitive copper price gained 1.2% to $3.45 per pound. Stocks, commodities, and gold received a boost from the news that the European Central Bank was actively purchasing Italian and Spanish bonds. In Europe, yields on Italian and Spanish debt moved lower as the European Central Bank intervened to purchase the debt of these fiscally-strapped nations. How aggressive the ECB will be is the subject of much debate. What is clear is that yields must come down or countries such as Italy will face rapidly escalating debt to GDP ratios. The crisis in Europe has caused investors to “move out of risky assets,”

Global gold demand climbed to a new all-time high in the third quarter of 2011, and by 6.0% over the prior year period, according to the World Gold Council (WGC). As of September 30, 2011, gold demand stood at 1,053.9 tonnes, valued at $57.7 billion. The figures come from the WGC’s Gold Demand Trends report for Q3 2011. The WGC noted that the rising demand “was driven by investment demand which rose by 33% year-on-year to 468.1 tonnes, generating record quarterly demand of US$25.6bn.” Commenting on the data, Marcus Grubb – Managing Director, Investment at the World Gold Council – stated that “Increasing levels of inflation, the US credit rating downgrade, a worsening eurozone sovereign debt crisis and the lacklustre performance of many assets drove investors to increase holdings in gold in order to protect their wealth. Given gold’s proven risk mitigation properties, it is likely that investors will continue to seek protection from economic uncertainty, which shows no si

The gold price declined Wednesday, sliding $8.00 to $1,772.75 per ounce.Gold prices fell alongside broad-based weakness in global equity markets. The euro retreated against the U.S. dollar after a Bank of England statement warning that Europe’s sovereign debt crisis may have a “significant adverse” impact on the economy. S&P 500 stock futures fell 12.40 to 1241.70. Bucking the downtrend was crude oil, which broke out through $100 per barrel for the first time since July. The gold price initially slid to as low as $1,759.10 per ounce in overnight trading after the release of Paulson & Co.’s latest 13-F filing. The firm – run by hedge fund magnate John Paulson – has been the largest holder of the GLD since the first quarter of 2009. The 13-F filing disclosed that Paulson & Co. sold 11.2 of its 31.5 million GLD shares during the third quarter of this year. In spite of the sales, Paulson & Co. remains the largest holder in the GLD, with 20.3 million shares.

The gold price continued to consolidate under the $1,800 per ounce level Tuesday amid the turmoil in Europe. Gold prices have traded in a tight band over the past two weeks as yields on European sovereign debt have soared. Italy’s 10-year bond yield spiked through 7% early this morning. In a note this morning, Susquehanna Financial Group highlighted that “spreads between Belgian, French, Spanish, Italian bonds and the German 10-year bunds are blowing out.” S&P 500 stock futures sank 10.10 to 1242.30 while copper prices fell back under $3.50 per pound. Despite Monday’s gold price decline, the Gold remains higher by 25.3% on a year-to-date basis and is on pace for its 11th consecutive annual advance. The macroeconomic backdrop of rampant currency debasement and negative real interest rates, among other factors, has continued to push gold prices to new highs. Many market strategists believe this trend is likely to continue in the years ahead, as central banks in the w

The gold price dipped Monday, trading lower by $7.00 at $1,781.50 per ounce. Gold price have been relatively stable amid regime changes in both Greece and Italy. The resignation of Silvio Berlusconi from the post of Prime Minister initially led to lower bond yields in the fiscally-strapped nation, but sellers came in and sent yields higher. Italian 10-year bond yields traded at 6.61% heading into the opening bell on Wall Street. The center of sovereign debt concerns shifted last week from Greece to Italy, as surging Italian bond yields added further uncertainty to an already dire situation. Speculation has risen that Italy will be the next member of the PIIGS to need financial assistance from some combination of the European Financial Stability Facility (EFSF), the International Monetary Fund (IMF), and/or the European Central Bank (ECB). While the EFSF would likely be the initial source of aid, its current size is unlikely to be sufficient to stem the tide of the Ital

Last week, gold has managed to claw back most of the lost ground amid continued uncertainty surrounding the Eurozone. Now, we see the Italian senate vote on austerity measures to rein in the country’s debt, as well as the installation of a new prime minister in Greece. The mood is tentatively upbeat (European equities are marginally up), which explains the muted gains in gold, with safe-haven buying relatively lacklustre. Even in the gold physical market, after a strong surge last week closing, buying has dropped off since than. Support however exists at the $1,740 level. Barring any major developments or surprises on the Eurozone front, we foresee mostly sideways action in gold today. In addition, the US is on holiday in observance of Veteran’s Day, so the usual catalyst for action later in the day is absent. In terms of data flow today, an improved US consumer confidence reading might further dent investor enthusiasm, especially gold and silver. Investors are growing increasingly opt

The gold price rebounded on Friday closing, climbing $19.70 to $1,788 per ounce. The price of gold rose alongside oil, copper, and the bulk of the commodities complex. Risk appetites, which have fluctuated wildly over the course of the week, expanded heading into the weekend. S&P 500 stock futures rose 11.80 to 1249.20. University of Michigan consumer confidence survey will be released at 9:55am eastern time. The U.S. Treasury market is closed in observance of Veteran’s Day. Any scenario in which Italy ends up requesting financial aid is likely to put further pressure on the euro currency and strengthen the case for additional money printing in Europe. This concept is not lost on the gold price, which despite Thursday’s decline remains higher by 23.7% on a year-to-date basis. Commenting on the longer-term outlook for the gold price, legendary investor Jim Rogers stated in a CNBC interview that the yellow metal’s bull market is far from over. The price of gold “w

The gold price stabilized Thursday morning near $1,770 per ounce following considerable weakness yesterday. The spot price of gold fell to $1,753.00 in overnight trading, but rebounded as the U.S. dollar turned lower against a basket of the world’s leading currencies. Euro zone debt concerns remained at the forefront of financial news this morning, although equity markets across Europe bounced back from several days of losses. U.S. equity markets looked to open higher as well, with S&P futures up 1.3% at 1,241.75. Dr. Martin Murenbeeld, chief economist at Dundee Wealth Economics, discussed the implications of the debt crisis for the price of gold in a recent note to clients. “For gold, the end game should be clear,” he wrote. “Sooner or later the ECB will have to ‘print’ more liquidity – buy more government paper. I believe that the ECB should print sooner rather than later, before the crisis in Greece leads to an abrupt, unscheduled, rogue withdrawal of Greece fr

The gold price climbed Wednesday morning as Italian bond yields spiked through 7.5%. The price of gold advanced near $1,800 per ounce as confidence in Italy’s ability to bring its fiscal deficit under control is evaporating. Yesterday’s news that Italian Prime Minister Silvio Berlusconi agreed to resign following the approval of an austerity plan temporarily stabilized financial markets, but investors resumed selling Europe’s sovereign debt on worries that the crisis was set to infect the rest of Europe at a more rapid pace. S&P 500 stock futures tumbled 27.30 to 1245.90. The escalating potential for deflation was evident last week as the European Central Bank (ECB) and Federal Reserve conducted their respective monetary policy meetings. The ECB unexpectedly cut its benchmark interest rate, with new President Mario Draghi noting that “particularly high uncertainty and intensified downside risks” were key factors behind the decision. As for the Fed, the tone of its

The gold price slipped slightly lower Tuesday, trading off $6.00 at $1,788 per ounce heading into the opening bell on Wall Street. The price of gold has been boosted by concerns that rising Italian bond yields will lead to the ousting of Prime Minister Berlusconi. Safe haven flows have helped drive gold prices back near $1,800 per ounce. S&P 500 stock futures moved higher, gaining 6.00 to 1263.50 ahead of a vote on Berlusconi’s budget. While Federal Reserve Chairman Ben Bernanke may continue to believe that gold is not money, senior government officials from around the world apparently disagree. Over the weekend German newspapers reported that policymakers at the G20 summit in France discussed the idea of having the German central bank sell a portion of its gold reserves to fortify the European Financial Stability Facility (EFSF). However, senior German officials quickly refuted the plan. Economy Minister Philipp Roesler was quoted as saying that Germany’s gold r

The gold price climbed higher Tuesday morning, advancing $41.25 to $1,792 per ounce. The price of gold moved to a six week high as Italian 10-year bond yields spiked through 6.5%. Greek Prime Minister George Papandreou agreed to step down yesterday, paving the way for a national unity government. Stock markets came under pressure Monday as Italian Prime Minister Berlusconi came under pressure to resign amid a growing lack of confidence in his nation’s ability to service its debt load at current interest rates. S&P 500 futures fell 7.80 to 1243.30. In light of these developments, long-time gold investor John Hathaway asserted in an interview with King World News that the outlook for the gold price remains particularly bright. “People got shaken out when gold went below $1,600. The price of gold has come right back up and it’s left all of those investors as sold out bulls, so it’s great action…The ones that were enthusiastic when gold was $1,900 are nowhere to be s

Malaysia retail gold price is up again to RM197 level again. If European solution end up by print more money, gold price will move up more.

The gold price traded in a tight range Friday morning after the release of the U.S. unemployment report. Gold price closing this week with fell $11.00 to $1,754 per ounce on the news that 95,000 nonfarm payrolls were created in October. The unemployment rate fell from 9.1% to 9.0%. Business confidence remains subdued as negative macro-economic headwinds, notably the sovereign debt crisis in Europe, swirl. S&P 500 stock futures fell 4.70 to 1251.00 after the employment report. The driving force in the gold market is the problems in the euro . The most important factor impacting the price of gold currently is the ongoing set of problems with the euro currency, according to long-time commodities investor Dennis Gartman. In a telephone interview with Bloomberg, the author of The Gartman Letter stated that “The driving force in the gold market is the problems in the euro. Central banks in Europe and individuals will want to lower their euro holdings and buy gold since no

The gold price rallied $19.27 to $1,760.79 per ounce Thursday morning after the European Central Bank (ECB) unexpectedly cut its benchmark interest rate by 25 basis points to 1.25%. The price of gold traded modestly lower near $1,725 in overnight trading, but turned sharply higher as ECB President Mario Draghi – who took over for Jean-Claude Trichet earlier this week – wasted little time in providing a clear signal on the severity of the European sovereign debt crisis. Although the Fed did not launch a third round of quantitative easing (QE3) – as some economists were predicting –the FOMC’s tone was more dovish than expected. Evans’ dissent, coupled with the lack of hawkishness from the other Presidents, helped signal that the Fed is “clearly inching towards easing further,” Greenhaus asserted in a note to clients. While Greenhaus did not discuss the implications of further easing for the gold price, history suggests that they would be particularly positive for the yel

The gold price climbed Wednesday ahead of the widely anticipated conclusion of the two-day Federal Open Market Committee (FOMC) meeting. The price of gold advanced $8.50 to $1728.30 per ounce as traders and investors prepared for a dovish post-FOMC policy statement from Chairman Bernanke. While a third round of quantitative easing may not be announced at today’s meeting, the Fed may prepare markets for an eventual resumption of the central bank’s asset purchase program. The broader stock and commodity markets also rose ahead of the announcement. “When we look at gold five years from now, we will say gold was wildly cheap. What happens to gold is going to hinge on what happens to the dollar, and that is going to be influenced by what happens in Europe and monetary policy.” The above comments came from Jason Schenker – president of Prestige Economics LLC in Austin, Texas and the fifth-best forecaster over the past three months in a Bloomberg survey of gold price predict

The gold price broke down through $1,700 per ounce Tuesday and bound back above 1,700 on Wednesday morning as global financial markets convulsed on fresh worries out of Europe. The gold price fell $27.90 to $1687 per ounce after Greek Prime Minister Papandreou announced he would he hold a referendum on Europe’s bailout plan. Stock markets in Europe plunged on concerns over an imminent Greek default and what the potential consequences of a disorderly default might mean. S&P stock futures fell 37.00 to 1212.30 while crude oil fell 3.8% to $89.61 per barrel. Commenting on the gold price weakness, Macquarie analyst Stephen Harris wrote in a report published on Monday that “There has been some speculation in recent weeks about the potential for the central banks of heavily indebted European countries to sell their gold holdings and use the proceeds to pay down government debt. This speculation has been used both as an argument for why the gold price may fall and as a pot

The gold price declined Tuesday morning as global financial markets shifted from “risk on” to “risk off.” The price of gold fell $21.80 to $1,722 per ounce, sinking alongside both stocks and commodities. S&P 500 stock futures fell 15.70 to 1265.20 while oil and copper fell 1.5% and 3.2%, respectively. Gold’s sister precious metal fell 2.8% to $34.30 per ounce as measured by front month silver futures on the COMEX. Gold sentiment has begun to climb over the past week from a “very bearish extreme,” according to Macquarie Equities Research analyst Stephen Harris. In a note to clients on Monday, Harris higlighted the Ned Davis Research (NDR) Daily Gold Sentiment Composite, which fell to 7.1 on October 14 – its lowest level since at least January 1, 2006 (he did not provide data going back further). Since that time, the NDR Daily Gold Sentiment Composite has rebounded modestly – to approximately 12 – but remains well in the “pessimistic” zone. From a contrarian and hi