Shanghai Gold Exchange SGE increase the margin for gold on Friday, thus the price drop is attributed to that.
I was expecting margin increase but did not expect it coming from SGX.
1 step ahead of CME.
Wow! now the games getting interested. Western market is not in full control now.

This post has been edited by GoldChan: Aug 24 2011, 01:09 PM

Gold dropping further! Now at US$1,850. Maybank rates also dropped to RM 179.72 from a high of RM 184.95 two days ago. Hope it goes down further then ill top up. If the price continues to drop over the next 2 days, more investors will start to get jittery and start dumping gold.

i hope these fickle ones do............

there was an earthquake at Virginia..

http://online.wsj.com/article/BT-CO-20110823-713840.html

some believe this is the cause the gold has fallen sharply..

yup, UOB now at 178.50, i sold part of my gold yesterday when it reached highest point at 182.60 to save my capital for the drops.

the price is quite stable now at 184x-185x

you sold the gold is uob account gold? must go counter?

mine i thinking sell it yesterday (public bank) but my volume so low... the spread will kill me later, aiya better keep it

Is it a good time to buy abit more? might rebound after earthquake or cash out

yes at counter, the UOB spread is quite small and i did profit a very small amount from it. Yes you should keep yours.

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Added on August 24, 2011, 12:52 pmyes, if you have extra money, cash in now and also cash in later..

This post has been edited by Alexdino: Aug 24 2011, 12:52 PM

SGX is Singapore Exchange, no?

Sorry, it its SGE.

This explains more than that US earthquake, gold should go up rather than down if disasters affect the US.

china is buying more and more gold..

Gold up up up!

seems like just going up and down every other day..hehe

Where did u get this info?

When did they buy? Today?

is already 3pm... i dont think it will happen today? wait for European market to kick in later.

i cant rmb.. it's from internet.. next time i should mark down the source and show you guys..

added a few more grams today with KFH,

spoke to the manager about an interesting formula to leverage your gold (physical). will share later once i've tested it but it may take some time.

This post has been edited by lustman: Aug 24 2011, 06:40 PM

don't u all think that there is a bubble oredi forming for gold, why are people still going in? dun rush when it is soooooo hot

A precipitous bubble burst for gold is unlikely given how government debts are impacting nations, so since those problems are unlikely to go away fast, the larger 'bubble' is here to stay. Corrections are more prevalent than collapse I'd say.