Malaysia Gold Investment

The gold price rebounded strongly Friday, gaining $17.50 on the last trading day of the year. At $1,564 per ounce, the price of gold is still lower by $42 this week and has fallen $182 in the month of December. Despite this month’s losses, gold has advanced 10.1% in 2011 and is set to rise for a remarkable 11 consecutive years. Hathaway discussed his latest thoughts on the gold price in a recent interview with King World News. When asked about the yellow metal’s slide in recent months, he responded that “The action is what you would expect in a thin market like this, the moves are exaggerated. The people that have shorts on, which has been the right trade for the last several months, they are just pushing it to the limit (on the downside) to make their year.” Given these developments, Hathaway contended that the gold price is near an important nadir. “Traders commitments are indicative of a bottom, sentiment is indicative of a bottom and market action is indicative of...

The gold price dropped $18.86, or 1.2%, to $1534.74 per ounce Thursday morning as the U.S. dollar added to its recent gains against a basket of the world’s other leading currencies. In overnight trading the spot price of gold tumbled to $1,521.80 per ounce – its lowest level since July 6th of this year – as the dollar reached an intra-day high against the euro currency. The gold price later pared its losses after U.S. weekly jobless claims came in at 381,000 – above the 375,000 consensus estimate among economists. Peter Boockvar, a market strategist at Miller Tabak & Co., noted in a report to clients on Wednesday that “The easier part of Italy’s bond auctions this week took place earlier today. But a good test of the appetite for Italian debt will be tomorrow’s bond sales that have maturities past three years.” While the gold price has traditionally served as a safe haven during times of economic stress, the European sovereign debt crisis has fueled a liquidity sho...

Gold tumbled yesterday after concerns were raised over the sustainability of demand out of China and India (the world’s largest consumers of gold). The Shanghai Gold Exchange and Shanghai Futures Exchange both restricted trading on gold spot and futures contracts in a bid to curb illegal activity in commodities. The Bombay Bullion Association forecasts a fall in gold imports for December (as much as 50% m/m) because of the weaker rupee.

The gold price slid $13.89, or 0.9%, to $1,594.92 per ounce Wednesday morning amid modest declines in the broader commodities complex. Silver fell $0.42, or 1.4%, to $28.85 per ounce alongside the price of gold. Equity markets in Asia and Europe were mixed, while U.S. markets looked to open slightly lower after a worse than expected Case-Shiller housing report. With the year drawing to a close, several Wall Street firms have recently published their gold price forecasts for 2012. One of the latest to do so was Goldman Sachs, which predicted that the price of gold will peak at $1,900 per ounce and average $1,810 per ounce in the coming year. Goldman attributed its bullish gold price outlook to further net buying by central banks and strong physical demand from investors, the ongoing negative real interest rate environment in the U.S., and continued European sovereign debt and global recessionary concerns. In its report, the firm wrote that “Our economists’ central thes...

Gold futures held near unchanged at $1,608 per ounce on Monday as financial markets in North America and Europe remained closed for the Christmas holiday. Silver stabilized as well near $29.10 per ounce in thin trading. At their current levels, gold is now higher by 13.2% on a year-to-date basis, while silver is down 6.0% in 2011. RBC Capital Markets strategist George Gero wrote in a note to clients that he expects gold prices to trade between $1,600 and $1,650 in the coming week. He contended that a daily close above $1,615 per ounce could lead to a short-covering rally for the yellow metal during the last week of the year. Equity markets in Asia were open on Monday, as Japan’s Nikkei 225 Index advanced 1.0% to 8,479.34 on the back of Friday’s gains in U.S. markets. In contrast to Tokyo, China’s Shanghai Composite fell 0.7% to 2,190.11 and South Korea’s Kospi dropped 0.6% to 1,856.70.

The gold price oscillated above the $1,600 per ounce level Friday morning. At $1,608 per ounce, the price of gold is lower by $138 in December, a decline of 7.9%. Strength the U.S. dollar has pressured gold and investments tied to the gold price over the course of the month. Nevertheless, the yellow metal remains higher by 13% thus far in 2011 and is on pace to post its eleventh consecutive year of gains. Looking ahead for the price of gold, VTB Capital analyst Andrey Kryuchenkov contended on Thursday that “We still see easing momentum for gold at the end of the month with small chance of physical buyers or longer-term investors returning before [the first quarter of 2012]. In the next few sessions, we expect to see some more volatility in thin pre-holiday trading.” In a note to clients, the VTB Capital also wrote that “We still see little chance for gains here until year end. Gold will stall below short-term resistance at $1,620, in our view. The market failed to bre...

The gold price dipped $8.07 to $1,608.82 per ounce Thursday after U.S. weekly jobless claims fell to 364,000, their lowest level since April 2008. The modest decline in the gold price coincided with a firmer U.S. dollar, which rose fractionally against a basket of foreign currencies. Jonathan Loynes, Chief European Economist at Capital Markets, wrote in a note to clients that “While this might help to address recent signs of renewed tensions in credit markets and support bank lending, we remain skeptical of the idea that the operation will ease the sovereign debt crisis too.” Gold shares stabilized near the flatline alongside the gold price on Wednesday, with the AMEX Gold Bugs Index (HUI) closing lower by just 0.1% at 513.56. Notable decliners in the sector included Gold Fields (GFI) and Kinross Gold (KGC), which slid 1.0% and 0.5%, respectively. In contrast, Barrick Gold (ABX) advanced 0.4% to $46.28 per share and Newmont Mining (NEM) rose 0.4% to $62.88 per share. Wi...