Malaysia Gold Investment

The gold price rose $5.82, or 0.4%, to $1,663.72 per ounce on Friday following S&P’s downgrade of Spain and a worse than expected report on U.S. GDP.  The price of gold climbed after Standard & Poor’s lowered its Spanish sovereign credit rating by two notches to BBB+ and first quarter GDP increased by 2.2% – below the 2.5% consensus estimate among economists. While the gold price has now advanced on five of the past six trading days, it remains lower in April by 0.7%.  In doing so, the yellow metal is still on pace for its first stretch of three consecutive monthly declines since early 2001. As financial markets had a chance to digest the outcome of the Fed meeting, several strategists weighed in with their view of the implications for the price of gold.  James Steel, a precious metals analyst at HSBC, stated that “Although the Fed did not announce another round of easing, intentions to keep monetary policy at highly accommodative levels are a bu...

The gold price rose $6.04, or 0.4%, to $1,649.84 per ounce Thursday morning following a worse than expected report on the U.S. labor market.  The price of gold advanced as weekly jobless claims came in at 388,000 – above the 375,000 median estimate among 48 economists surveyed by Bloomberg. On Wednesday the gold price oscillated between gains and losses as investors digested developments from the latest Federal Open Market Committee (FOMC) meeting.  The price of gold initially dropped to $1,625 per ounce following the release of the Fed statement, which did not include any signals that a third round of quantitative easing (QE3) is forthcoming. However, the gold price bounced back to finish up by $2.56 at $1,643.80 after Chairman Ben Bernanke stated in his press conference that “We remain entirely prepared to take additional balance sheet actions if necessary…Those tools remain very much on the table” in the event that the U.S. economy requires further monetar...

The gold price advanced $6.85, or 0.4%, to $1,645.25 per ounce Tuesday morning as the U.S. dollar Index fell by a modest 0.3% to 79.155.  Silver rose alongside the price of gold , by $0.18, or 0.6%,t o $31.08 per ounce.  Strength in precious metals and the dollar’s weakness was driven in part by worse than expected data on the U.S. housing market. Commenting on the outlook for the yellow metal, Nick Trevethan, senior commodities strategist at ANZ Bank, wrote in a note to clients that “Gold doesn’t seem to be trading on anything other than externally derived sentiment.  There is still pressure for gold prices. The market has been trying to push the support level at $1,630-$1,640, although the push is rather half-hearted right now.”    Looking ahead for the gold price, it is likely to stabilize ahead of Wednesday’s Federal Reserve meeting, according to Standard Bank’s head of commodity trading, Yuichi Ikemizu.  “We probably won’t see much move...

The gold price fell $12.07, or 0.7%, to $1,630.55 per ounce Monday morning amid widespread liquidation in financial markets and strength in the U.S. dollar.  Silver fared worse than the price of gold, as it dropped $0.87, or 2.8%, to $30.81 per ounce.  In doing so, the prices of gold and silver reached their lowest levels since April 4th and January 20th, respectively.  Commenting on the gold sector’s weakness of late, analysts at UBS wrote in recent notes to clients that “Physical demand is currently underwhelming – barely even blinking when prices dipped below $1640 yesterday – and this hardly offers any assurance that gold can easily find support on any further price drops… Gold could certainly use fresh catalysts from external markets at this stage to shake it out of this stupor.” One potential catalyst for the yellow metal that surfaced last week was from John Paulson, the billionaire hedge fund magnate whose firm – Paulson & Co. – is the largest...

The gold price ranged closing last week meager $7.74, practically dead and not twitching. Rose $1.50 to $1,642.10, but fell $17 (1%) for the week. Aha! What's that I see on a one year chart? Could that be a bullish falling wedge that began in March and neareth its completion? Why, yes, indeed it could be, and is. It also argues that gold will not again visit $1,600. The sad time of this long gold price correction since the high last August drawer to a close. It may yet be weeks away, but higher gold is coming soon. A break through $1,682 will prove it, a break below $1,600 gainsays it, but only for the nonce.

The gold price held steady near $1,645 per ounce Friday morning as the U.S. dollar moved moderately lower against a basket of foreign currencies.  The spot price of gold stabilized in a narrow range in overnight trading – between $1,640 and $1,650 – amid a relatively quiet day in financial markets. In a note to clients regarding the data, Ryan Sweet – a senior economist at Moody’s Analytics – stated that “The economy has slowed a notch…We’re just not going to be able to duplicate the growth we saw in the first quarter.” Although the gold price has not fared particularly well in recent months, ongoing economic challenges will help propel the yellow metal back toward its $1,922 record high by year-end, according to a Bloomberg survey of market strategists.  Based on forecasts from the five top precious metals analysts in Bloomberg’s rankings over the past two years, the gold price will average $1,900 per ounce in the fourth quarter of 2012. The five most accura...