hahaha! Exactly what im thinking!!

hahaha today i went to bank and sold off at 1900USD like this..

i feel that the highest point to hit gold is 1920USD now... and the price is still not that stable @ 1900USD..

but it stand strong at 18xx USD.. so tonight as US market opens, the gold will lead the stocks market goes green or red.. maybe they are pushing gold down to make stocks market price to lead green as bro bigwolf mentioned..

best of luck guys..

and so the bloodbath begins

Trading 1 world 10 dirham plus rm450 for 1/10oz gold maple or nugget. Deal at pj hilton

i still cant understand the relation between USD value of gold and the price of what we buy here.
MBB is selling at RM187 as of this afternoon, so how do i interpret this in USD thousand? it is how many thousand USD to have the price of RM187 in MBB?

Its spot gold per gram in USD x exchange rate. Assuming spot gold per gram is USD61 and exchange rate is 3.011

USD61 x 3.011 = RM183.67

Spot price fluctuates a lot in a day although forex rate is not so much. Perhaps MBB also charge a few ringgit extra for processing fees or something. So RM187 depends on what spot rate & forex rate & processing costs(?)

i found the spot gold chart has MYR and gram in goldprice.org, much more convenient to understand, direct read and no need calculate

goldprice.org is nice too bad no MYR for silver though

i tink not much people looking at silver, although stable as a line through, some people think "no risk no fun" maybe (?)

As gold gets too expensive for capital preservation, ppl might start looking at silver as alternative?

that might be a point, in maybe 60 years forward maybe that time is silver investment era..

The Swiss Franc dropped drastically from 3.80 to 3.48 in just a few hours because of this:

http://www.bloomberg.com/news/2011-09-06/s...t-the-euro.html

so should we plunge or pull out?

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Added on September 6, 2011, 11:15 pmcurious one thing, shouldnt we be monitoring the gold counter rate of the banks since we are dealing with them?

This post has been edited by noobandroid: Sep 6 2011, 11:15 PM

Will the world bank be able to do something similar to gold?

me too...haha sold at uob @RM183.80

this news bring any effects?

Both US stock market and gold are going down the hill together. haha.

But too bad they don't seem to have a longer timeline for the RM chart.

1oz = 31.1gram

eg :　1oz = 1900USD

((1900usd / 31.1gram)USD exchange rate) = RM

hope that formula helps you.. roughly price...

buy price = add bank spread rate on gold spot price
sell price = international gold price (www.goldprice.org)

wah gold & dowjones both commit suicide together ah?

btw i saw gainsville selling 25 x 1gm PAMP at USD1,755.45 + 96 international shipping fees. Average = USD74.058 per bar

Worth to buy?

Edit: Problem is where to sell la without incurring 15% - 20% loss? I wonder if UOB buys these bars although not sold by them? I heard cannot izzit?

This post has been edited by bigwolf: Sep 7 2011, 12:17 AM