It's because this week is China National Holiday for 1 week & Jewis holiday as well so not much trading. Malaysia is a small country so it doesn't effect much overall to gold.

I should say the price is stagnant because eventhough Moody downgradeds & ECB still keep the low interests, but the momentum have been distracted by increase jobs data in U.S.
Thus, fair game for gold this week.

Wait for next week, then.

I guess gold will head up @ 1700-1750 range on next week (bullish)

Please ignore all the nonsense accusation been made towards me without solid ground especially from ignorance/pathetic/ironic Aplis(Iblis)_lualua claiming me to be a another TSH as i have clearly nothing to do with him.

A police report will be made against Apis for simply accusing me.

Under DEFAMATION ACT 1957(LAW OF MALAYSIA), a petition will be file soon by my lawyer against him under;

- Apology in mitigation of damages
- Consolidation of actions for libel
- Separate assessment of damages in certain cases in actions for libel
- Apology in mitigation of damages

Interesting...mind uploading the police report after actually making one?

I have made suggestion to Maybank to provide ONLINE GOLD TRADING via M2U. HERE IS THEIR RESPONED

In his book Basic Economics, Thomas Sowell[62] argued that, in the long-term, gold does not hold its value compared to stocks and bonds:

To take an extreme example, while a dollar invested in bonds in 1801 would be worth nearly a thousand dollars by 1998, a dollar invested in stocks that same year would be worth more than half a million dollars. All this is in real terms, taking inflation into account. Meanwhile, a dollar invested in gold in 1801 would by 1998 be worth just 78 cents.

i m happy to receive it. plz do.

Lol same trait, cakap pasal law. The other person also busy telling ppl he/she will make/made a police report. But anyways, as long as he offers nothing to sell in this gold thread, no point to accuse him of anything. Just be aware.

It's clear that i don't sell anything so far and time will prove it.

Back to gold topic please.

Thank You.

I thought I came in a dispute section after see post above.
I think gold has hit the bottom line at 1600/oz by seeing the chart recently. The investor will quickly buy in when price drop below 1600. Now the question is, gold need how long to climb back 1700 since USD also keep raising.

Gold prices could see a bounce next week, the majority of participants in Kitco News’ Gold Survey said, although they give different reasons why the yellow metal could strengthen.

In the Kitco News Gold Survey, out of 34 participants, 23 responded this week. Of those 23 participants, 16 see prices up, while three see prices down and four see prices sideways or unchanged. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.

The European situation is the main influence for gold’s direction for most of the market participants, whether they see higher or lower prices. Some of those who see stronger values next week cited gold’s safe-haven role as a support.


However, several who see weaker prices said gold could ease if investors are worried that the European Union is slipping into a recession. A recession means inflation won’t be a problem and thus gives investors one less reason to buy gold.

Others said if the equity markets can bounce and attract buying, that could give gold support, too. In recent weeks, gold has suffered from lower equity markets as investors sought to use profits from winning gold positions to shore up losses in equities.

Those who see higher prices project gold could return to the $1,700-an-ounce level, with $1,710 to $1,725 the upper end of the target.

Those who see neutral to weaker prices point out gold retains its volatility and a “back-and-forth” trade could be the main feature.

Darin Newsom, senior analyst at Telvent DTN, is one of the participants who see weaker prices. “The market has consolidated the last two weeks. However, a bearish short-term signal posted this week could send the market back to support between $1,610 to $1,580,” he said.

source from: http://goldabout.blogspot.com

1725 only?

Out of those kitco survey i have seen, almost all their supposedly high chance "choice" turn out to be not high at all

couldn't agree more! all those speculation.. just like when wall-street expert claimed that apple wouldnt go above 400...

Kitco "SURVEY". Note the word survey there. Back to topic, I expect the price to linger around 1650 - 1700 with the way the market & the stocks are going currently.

USD drop currently not raising leh. Drop since last week 3.21 to 3.15

That's what Maybank said to me many years ago when I asked them.

Alamak,,wait till Maybank provide online trading is too late already. Lucky i got recommended through my friend on a reputable online trading platform, low spread, secure and easy to trade.
LOL.....

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Added on October 9, 2011, 11:01 pmAlamak,,wait till Maybank provide online trading is too late already. Lucky i got recommended through my friend on a reputable online trading platform, low spread, secure and easy to trade.
LOL.....

This post has been edited by Best Success: Oct 9 2011, 11:01 PM

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Added on October 9, 2011, 11:29 pmPls refer here for the latest USD rates http://www.forexpros.com/currencies/usd-myr

For UOB bank USD selling rates, always mark up 0.40 from the website above, So on Monday USD rates for UOB bank should be around 3.2292

This post has been edited by hongchai888: Oct 9 2011, 11:30 PM

Gold is currently consolidating between $1680/oz and $1580/oz. First we need to wait for chikou (green) to get into the kumo & break $1680 for confirmation of bullish movement. If market breaks $1580, it will lead to more bearish movement.

The good news is, if you look at the candlesticks during consolidation, there is more bull (white) candles than bear (black) and definately a lot of small dojis.

Thus, pls give the gold some time to pick its momentum. Like a car, it needs to get heat up first!

If chikou does break the resistance said, then my target will be $1727 before you see some correction before resuming its bullish movement (if the formation of waves looks good at that time.)

Happy trading!


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