When the stock markets in US and Europe crashed, many investors jumped to Swiss Franc, Yen and gold. This caused a dramatic rise in all 3 prices. The Japanese gov is already controlling the price of Yen and now with the Swiss Gov pegging the franc, most investors were caught. Many ppl thought that this move would result in gold prices going down too which caused them to panic and sell. Thats why gold prices are dropping now.

My personal opinion is that this drop is very much temporary. Gold will rise again so those of you who wish to invest in gold, better do it now. Ill wait till the US markets open tonite before i invest more into gold. Im looking to pump in about RM 50K so getting the best price is important.

This post has been edited by cybermaster98: Sep 7 2011, 02:23 PM

u invest thru forex market or what? buy gold during night time?

yeah, i was also monitoring not because of the sell price of gold, but wanting to buy at low price, reserve for future

possibly that investors sold their gold to cover losses in their Swiss franc holdings. Switzerland announced to cap the Swiss franc limiting to gain against euro and would do whatever it takes, including would buy almost unlimited amount of foreign currencies.
"They're basically saying they're going to buy a bunch of junk so you shouldn't hold their currency" said Charles Nedoss, a senior market strategist at Olympus Futures.
Gold also pressed lower as the dollar strengthen against the euro and franc.

"US tonight" is our tomorrow morning i think

bro cyber, thanks for the info. Don't forget to tell me when you get the best price to buy. I also plan to top up around RM20k. But I'm worry bcoz I'm new. :)

yeah... it should be that way. Gold is not for goreng like stocks. I am looking waiting for a nice price to buy more as well. But too bad, like today i cant go CIMB to buy bcos working, if with PBB can do it online. thats the advantage buy with PPB.. now i realize...

If they panic and sold, where do these people move they money to?

if the spread of PBB is lower.. then much will switch to PBB due to online transaction ability... however, daily limit is only 50k.. so not for those pros like cybermaster etc... coz they will go for forex account or uob

yeah, US tonight will mean our tomorrow morning.
but he says when the US market opens tonite.
so he means when US market open in the morning, while ours will already be at night...
anyway, i stil dunt hav any strategy to invest in gold. now is busy collecting silver...
buy or not buy, when to buy, what to buy....
aiyyo~~

hmmm... so, voicing your frustration just because you decided to buy today and would have bought more with the same $$$ if you had just waited an hour more is not permitted here? Ok, noted

I think the price will probably drop alil bit more due to nervousness in Asia from the pegging which may be resulting in slim profit taking from when the price was at high 1870's this morning.. But i think it should be increasing again pretty soon. And this is due to a few reasons.

(i) Merkel's party lost another election earlier this week. She's under exceeding pressure to not go around donating German taxpayer money to the rest of EU. I have German friends so i know the public is not happy with their role in the bailouts. In the long run, it could just mean that German donations *may* reduce by alot and the EU end up picking up pieces that broke off the pieces that has broken off. (yes i know Germany is also dependent on the EU market for their exports, hence Germany cant necessarily allow EU to sink, but try telling taxpayers that!).

(ii) We all know ECB has been buying Italian debt over the past few months, but ECB also insisted that the Italian govt undertake a EU45.5b deficit reduction plan, only for Berlusconi to modify the ECB reduction plan, removing measures he wasnt comfortable with. In short what i mean to say is, to keep an eye on this as its not over yet. Italy could be in deeper trouble in the near future.

(iii) Also i read someone saying in the earlier pages that gold price tends to go up when Bernanke speaks. Whether or not that is the case, i know that he is due to speak at the end of the week. It could cause prices to move up (likely i think) or down. Though a more likely factor would be Jean Claude Trichet's monthly economic outlook on EU which is also due this week.

p/s - im no gold bull, i just do my homework
pp/s - i agree that this thread is starting to become 'gold micromanaged'

Does world bank have the ability to control over the gold price? Hmmm...

Some ppl trade gold, mind u! that's where the noise come from.

This thread become tremendously active whenever the gold price was dropped.

I suggest wait until tomorrow, feel the price will drop further

http://www.annuitynewsjournal.com/red-flag...ld-prices-drop/

Which should I get and which would be easier to sell? 1/10oz kangaroo for rm677, 2.5g emirates for rm513 or get a 2.5g pamp for rm615. Most importantly, which would be the easiest to sell in the future? Thanks guys

Probably a 'want and see' situation. But they wont wait for long. Gold is still hovering around US$1,838 and RM180.73 on Maybank.

emirates is cheapest, but dunno whether its easy to sell or not.
kangaroo is more well known, i think.
pamp is most expensive, but very popular and well known for its premium.

if it was me,
for long term, i'll buy emirates. if for trading, i'll buy either kangaroo or pamp.
anyway, all are still gold. u wont go wrong, unless gold market went into recession...

Thanks bro. What's the difference between trading and long term?

I'm interesting gold bullions? What gold vender is cheaper for buy and easier for sell?