Gold seems to be going up. Now at 1,658. But good for us the USD is also dropping against the Ringgit. Now its at RM 3.143 compared to RM 3.185 yesterday. But i think this rise in gold is only temporary. We could be seeing lower prices within the next month or so.

Gold seems to have dropped from 1662 about 9 hours ago to 1639 now while the USD is holding at RM3.145. It will be interesting to see the prices by Maybank and UOB this morning.

Gold is at US$1,590 while USD at 3.18. So we'll surely see a drop in gold prices here in Malaysia this morning. I think we could be looking at RM166/g on UOB.

This post has been edited by cybermaster98: Sep 29 2011, 07:57 AM

Should always compare closing prices against the opening prices the following day.

No harm meant but personally i think religion has been misused too many times to extract additional gains for a select group of ppl only. Alot of these so called 'syariah compliant' banking products are actually more expensive that regular products.

Even Halal food is relatively more expensive as food suppliers have to put on more resources to be 'halal' registered in addition to blatant corruption to get the certification which includes paid holidays for these so called 'religious' officials to visit their factories and mind you they come in big groups sometimes with their families tagging along. All these additional costs incurred by food inporters and suppliers are passed down to the public thus further increasing the food prices.

If religion is used for the right reasons, there should not be any increase in prices. Paying off officials from Jakim and paying for their family holidays abroad to get certification is a direct violation of the concept of halal. Im not saying this on heresay. Im saying this based on first hand knowledge. My comments are not based on the fundamentals of religion itself but on the misuse and exploitation that comes with it. Dont be another katak bawah tempurung believing everything the Gov controlled media tells you. Go read whats happening to Mecca in Saudi Arabia and see whats happening to all your Haj money. Is what's happening there holy and Godly? Do a google on Al-Andalus and see whats happening in a city just 35km away from the holy city. Religion is being exploited more and more due to the greed of man. The only way to fight it to to create awareness and stand up for what's right.

Sorry for diverting from gold. I just had to respond.

I think it would be very interesting if all of us regular forumers on this thread could meet up 1 day. At least we can see the faces behind the nicks.

Where did he buy from? There are many scams out there selling physical gold claiming a certain purity. Only when its too late do they realise what they're holding isnt as pure as they think.

No way thats gonna happen. Where are u getting your info from la?

Gold now trading at 1,614 compared to 1,670 about 9 hrs ago. Once it starts to drop to this level, it either maintains or drops further. Might go up a little but no where close to yesterday's prices. Im predicting a continous drop with some mild recovery towards the end. But surely prices tomorrow in Malaysia will be lower than today's closing prices (175.73 on MBB).

This post has been edited by cybermaster98: Oct 5 2011, 01:17 AM

As expected, gold now trading at 1,621. MBB price at RM 170.27 compared to RM 175.73 yesterday. The roller coaster will continue. Hopefully we'll see lower prices on next Monday after Najib's Budget announcement this Friday. The Ringgit should rise a bit against the Dollar so that would mean lower gold prices (if world prices dont increase).

Yes i now think the same. The way things are going, investors are treating gold the same as stocks. When they get good news, gold rises but the momnet anything bad comes they dump gold. I expect this current rise in gold to be shortlived. More pain coming before end of the year. I dont think gold will hit its target price of US$ 2,000 by year end.

Read the gold commentry here:

http://silver-and-gold-prices.goldprice.org/

10% profit already sell? Whats the point of investing then? Real waste. Ive already earned about 40% profit and yet im holding. Dont be too greedy la. Gold investment is for long term.

Gold at 1,746 but USD has dropped to 3.07 now. That should keep gold prices in the RM175 range. If only gold were to drop to about 1630 now, it would be a perfect time to buy into gold.

Tan Sri but only 900+ grams??? Even i have 450g so that means im half a Tan Sri already?