Gold sky rocket back, will we see 1800 soon?



This post has been edited by hongchai888: Sep 23 2011, 04:34 PM

nope juz some resistance 4 the time beign... if resistance not kuat...bye bye 1800

wait 8pm tonite we will know what will happen.

I think 1700 will be breached with the current sentiment...I've been observing the gold price movement and there is too little momentum to the upside....note the Fed announcement was just 2 days ago...so it still has more room to drop...

This post has been edited by eXTaTine: Sep 23 2011, 05:27 PM

yeah, but USD are getting strong even it gold drops, it still very costly in RM/g. If USD start to back down soon, will gold bounce back? then we will never get a chance for rm160/g

This post has been edited by Alexdino: Sep 23 2011, 05:48 PM

i've learn something when investing in gold now.... even gold price drop and the USD currency can go up and sustain the gold price in RM for us...

interesting indeed....never occur to me that USD currency also can influence the gold price in M'sia....

Why is the price dropping so drastically?

everybody fleeing commodities to bond market...they feel its safer thr compare to other e.g shares, gold, silver ...should have bought USd when it is lower...now so high d ....aiyak

Plan to buy some today due o dramatically dropped yesterday but after some study, decide to wait and see. It seem the gamble worth it

Below is my fren PM, already got her permission to post here, quite funny:

Europe dude pls stop dumping gold la I just bought some today, why keep dumping and caused it to drop? Gold very shinny, very cute der. . Bro is that any thread in Lowyat similar to this eg 'how to invest oil in Malaysia'? Fad up with gold already

---

Added on September 23, 2011, 7:33 pmIf price maintain 1700 or lower until Monday, then you probably will get RM175/gm which I think is very worth it

This post has been edited by hongchai888: Sep 23 2011, 07:35 PM

Edited

This post has been edited by hongchai888: Sep 23 2011, 07:43 PM


Attached image(s)

already under 1700,... 1696 now

1691... Down some more, I want to buy buy when bank selling @ RM150++/gram

wow gold & silver got totally crushed US market starting soon, more bad news?

Gold, silver,etc has been speculative instruments for some time.

How much it's worth is based on what other people speculate it's worth.

When the downturn is global, and people realize gold is not something you can eat when the economy is bad, gold etc will lose it's value.

last month it was 168 when i make purchase when global price at 1740, i think it is diffucult to get back that price.

I hope history doesn't repeat itself :S Bought my Public Dinar at RM790, now already RM775. Thought of it, not much drop also Luckily I am a small time buyer. Win big, lose big

old Prices Keep Falling with Stocks amid "Full Blown Recession" Fears, Silver Flirts with Biggest Weekly Drop in 30 Yrs - 23 September 2011
Dollar Gold Prices sank yet again on Friday, falling to a seven-week low below $1700 as world stock markets continued their slump – as did industrial commodities – while the zero-yielding Dollar and Yen continued to rally.

Ministers of the G20 group began their weekend meeting to address the Euro crisis. This Sunday marks the 80th anniversary of Great Britain being forced to formally abandon the Gold Standard in 1931.

"Many may well be and some already have been liquidating their gold positions to cover their losses in other sectors, putting downward pressure on Gold Prices," says a note from Swiss precious metals group MKS.

"A break of $1704 [confirms] a double top is in place," add technical analysts at bullion bank Scotia Mocatta – who now see a move down to $1488 a possibility.

By Friday lunchtime in London, Gold Prices were looking at their biggest weekly loss for nearly three year, with a 6.8% for the week. Based on Friday-to-Friday London Fix prices, the previous biggest weekly loss was in December 2008.

Drop until no eye to see...
Cry also no use d...

naaa, next week wed/thu should be good time to buy again

This post has been edited by bigwolf: Sep 23 2011, 10:43 PM

hopefully USD dont rise so much.