come2, drop further
i wanna buy if it goes <175

yeah.. i open at UOB just now, 178.50.. last month bought some 174.xx at maybank..

I bought some today too. Hoping to buy at 177.2 but its 178.5 by the time i reach the counter.

Anyone know why is gold so volatile and dropping so drastically? Don't dare buy yet la :S

The gold price is dipped in the mean time as the move of rushing to liquidity in other form of currencies. Swiss franc is known as preferred safe-haven, next is gold. If the Swiss franc weakened, it will have a positive impact to the gold demand.
sourceit
banklastprice

This post has been edited by junhaussen: Sep 8 2011, 04:15 PM

guys, i decide to go for physical gold, and i'd like to thanks kei kun 4 fwding a link for online gold dealer. But the thing is, hw come the price per gram on each protect offers by different dealer seems quite a different??Im aware of their way on making profit are different. but any advantage or disadvantage if im going to buy gold with private dealer?

or should i buy gold frm bank??but there different selling/buying price seems very large compared to private dealer??

just find a product u like, search for the cheapest price and buy. dont mind if its a private dealer or banks...

Actually, I never understood how that drop happened. Though it was a great opportunity to bail out of the fiat money games at that time (if you were so invested). The rise after that is satisfactorily explained, if not obvious.

thanks bro, any recommendation for me from your point of view? if bank, which bank to look???if private with whom shd b the best, FYI, im now at Betong, Srwk. And it is kinda hard to find private dealer. so I'll prefer on9.

Price will drop further if news below are true

http://economictimes.indiatimes.com/news/i...how/9905343.cms

barrack obama want to give job plans, 300billions?

now i wonder where d money come from? print out more money from fed n mint?

its must be frm fed reserves.. i tink mayb they wan to pay some their debt...

despite the correction during that time UOB run out of stock for few months when the price is RM2600 - RM2900+ /oz.
after that when price was RM3300+ plenty of stock.

---

Added on September 8, 2011, 5:29 pmI sort of slightly disagreed with the above argument.

whatever you said about gold is also true about paper /fiat currency.

>>
Gold cant be "used" (ie. softest metal) by tom, d*** & harry easily, cant be eaten, cant be planted and grown, cant be used as a physical shelter, needs to be protected from theft, can be "confiscated" or forced sell by Government, etc. Gold's value is based on perception and/or scarcity.what
>>

The only differences is money can be printed and gold cannot. The more government print $ the more they steal from people. it's an indirect stealing via inflation. the more $ printed, the more development and social program can be implemented at the cost of general inflation to others.

the argument is what if you have extra cash what do U do with it?
- keep in FD, let the indirectly stealing take places.
or invest in gold.

according to 2001 to 2010 track record, can you find a asset class beating gold.
not stock, not property , not etc.

Few ways for gold to go down
a) Very bad monetary contraction, when money suddenly disappeared from the market, tight liquidity. Not enough cash to chase after the goods then gold price will fail.

b) Assets price has to drop to a level of very low as such that it make more sense to sell your gold USD1800/oz for other.
E.g. Double storey house in Puchong at below RM300K.
that means lot of people out of job etc.

c) enormous discovery of new gold. However, we already peak on gold production few years back. South arfica already down.
d) Gold production cost is energy intensive, due to lack of oil in the future . Production cost will triple.
2001 :- gold cost/oz USD250/oz
2010:- USD600 - 700/oz/







This post has been edited by GoldChan: Sep 8 2011, 05:29 PM

how many gram is this gold

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Added on September 8, 2011, 6:05 pmi guess is 20g

This post has been edited by xproc: Sep 8 2011, 06:05 PM

Turn infront and it is stated there

This post has been edited by smokymcpot: Sep 8 2011, 06:11 PM

From 2 very different point of views, i think we agree that gold similar/acts as cash (dont want to use "money" as a term as can be confused with even gold/silver coinage )?
Thus, although it's another an asset class, it looks to be a storage of value rather than a CREATION of value - it just sits there and "hopefully" goes up in value due to x, y & z variables, just like cash.

Yeah - cash = jack up the printing presses and voila!
Er.. gold's value, like i posted, is its supply/availability. Gotta dig for it (or pan for it ).
BTW, good points on when gold prices will go down.

Pls dont misunderstand, I agree - gold is another invest-able/trade-able asset class. Thus, there is no argument that one can put $ into gold OR other asset classes, other than stodgy old FD. Bro - i'm definitely a proponent of fighting-off the risk that most FD lovers ignore, INFLATION.

er.. i think the compounded pa of gold, according to 2001 to 2010 track record as U put it, can be equaled or beaten by a mixture of other asset classes.
In and by itself, it MAY not be a magic bullet.
01/01/2001 USD274.45/ounce
31/12/2010 USD1,405.50/ounce
That comes up to be approximately 19.90%pa compounded yearly

BTW, dont lar - taking the lowest (2001/2002) and then projecting to the highest heheh. I know gold is an investment / trade worthy asset class, but to just look from bottom to top aint a balanced-view.
eg. of a skewed view, i use one of the Malaysian stocks (pathetic moving stocks compared to US stocks )
Public Bank Bhd
28/10/2008 RM7.420
01/08/2011 RM13.460 (excluding dividends and splits, which will add %pa into the returns if included)
That comes up to be approximately 24%pa+ compounded yearly, excluding dividends in pocket + splits

Heheeh - changgih leh looking from bottom to up only (sounds kinky too ), right bro? In fact, some property bro can even show properties beating the pants off everything else coz it's highly leveraged, especially bought at the "bottom and looking up" (i like the sound of that somehow ),
Not a balanced view mar. Again, i'm not against gold ar - heck i myself am investing in metals and other commodities. Like some other folks that have posted, just trying to share another view for risk management purposes.

This post has been edited by wongmunkeong: Sep 8 2011, 06:47 PM

gold bouncing back to usd1859 due to weak us job data. it seemed we'll see UOB rm18x again tomorrow since today closing already rm179, tak sempat load today. come on bernanke give good impact to stock and push the gold a bit

bulukorek,

if u go for long term, just buy the cheapest 9999 gold you could get since later you can always sell it as 9999 gold, not based on brands
gold is gold as mentioned again and again in this thread. do take your time to read from page 1 to get some grasp on owning physical.

buyback as guarantee is not really important here.

wongmunkeong

good comparison there, hence the standard question prophetjul was repeating to anyone, y did u buy gold?

This post has been edited by keii-kun: Sep 8 2011, 10:21 PM

STRONG BUY mentioned in this website http://touch.forexpros.com/commodities/gold

read http://www.kitco.com/

Everything u need to know about gold and commodities....

ok time to ask the expert's here, what are your opinions regarding his analysis:

http://majormarketmovements.blogspot.com/2...g-9811.html?m=1

I've followed his works a bit and he seems to be quite accurate but if its true then we might see some huge corrections by Friday/Monday?

There's a lot of uncertainties now what with all the conflicting reports & analysis whether gold & Dow Jones are going up or down