Why must wait tomorrow? I thought outcome of FED meeting will announce later US(Washington) time?

Oh nvm, I get what you mean

This post has been edited by hongchai888: Sep 21 2011, 07:10 PM

Commentary from Franklin Sanders, Goldprice.Org today in case you miss it :

WEDNESDAY, SEPTEMBER 21, 2011

Watch that $1,770 Gold Price Support - If that Breaks, Look for $1,705 Next

TODAY something odd happened to the US dollar. It reached support at 76.80, then Comrade Chairman Ben Bernancubus announced that the Fed will shift its US treasury debt holdings to longer term bonds. The Nice Government Men will buy $400 billion of 6 to 30 year bonds over the next 9 months, while selling an equal amount of 3-year or less debt. Object of this manipulation is to push down long term interest rates, flooding the market with artificially cheap money which under their Keynesian thinking means that business will flourish. It won't, as even this natural born fool from Tennessee could tell them, it will only prolong the waste and pain and waste more precious resources. These people ain't got the brains God gave a screwdriver.

The Fed's announcement -- or alien messages from outer space -- sent the dollar index gapping up and it is now trading at 77.304, up 27.4 basis points but most important of all, tapping on that 77.40 resistance that has stymied it this week. Dollar is going higher, count on it, hard as the NGM try to keep it down.

Naturally the Euro dropped 0.42% to 1.3659, on its way to 1.3000. Yen gained 0.36% to 130.58c/Y100 (Y76.58/$1). Fed's move hasn't helped the program of raising the euro very much. What a bunch of goofs. It's like watching the movie, "Three Stooges Run the Central Bank."

And the Three Stooges helped the stock market today, too. Dow lost a modest 283.82 (2.49%), holding on most of the day but then sinking like a rock in a churn after the Fed announcement. Dow closed 11,124.84, while the S&P fell even further, 2.94% (35.33) to 1,166.76. If every doctor was as skilful as Dr. Ben, we'd have a building boom in this country -- building cemeteries.

I don't know why the GOLD PRICE fell today -- dollar up, gold down? Technically it's already in a decline, so most likely it's merely following through to the downside. Gold closed down $1.10 at $1,805.80 on Come, but in the aftermarket has lost nearly $20 to trade at $1,786.90.

Gold's five day chart has strong support at $1,780 and stronger still at $1,770. Picture's not as clear as you might think, as yesterday's action looks like an impulsive move up, and today's might be merely a correction to yesterday.

Awww, stop over-complicating things! Watch that $1,770 support. If that breaks, look for $1,705 next. Overhead GOLD would have to earnestly challenge $1,920 to reverse course. No point in talking about upside, though, until and unless gold first clears its 20 day moving average at $1,822.

This post has been edited by hongchai888: Sep 22 2011, 11:11 AM

High possibility during US market open later, but hope Asia market wont push up too much before Malaysia market open tomorrow.

I normally surf those China Paper Gold forum. I believe China and India are biggest gold player in Asia market and I found out their prediction is quite accurate. They even predict if gold fall below 1700, it will further down to 1500...

Phillip Futures分析师Ong Yi Ling表示，短期来看，金价可能依然在1,750美元至1,850美元之间波动。如果跌至1,700美元，金价将大幅修正至1,500美元。

Asia market normally shown 'small cloud' compare with Europe/US shown 'Waterfall' on the chart. So I think not much different whether you buy in the morning or afternoon.

This post has been edited by hongchai888: Sep 22 2011, 10:45 PM

Are you sure? Take a look at the graph now

Gold sky rocket back, will we see 1800 soon?



This post has been edited by hongchai888: Sep 23 2011, 04:34 PM

Plan to buy some today due o dramatically dropped yesterday but after some study, decide to wait and see. It seem the gamble worth it

Below is my fren PM, already got her permission to post here, quite funny:

Europe dude pls stop dumping gold la I just bought some today, why keep dumping and caused it to drop? Gold very shinny, very cute der. . Bro is that any thread in Lowyat similar to this eg 'how to invest oil in Malaysia'? Fad up with gold already

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Added on September 23, 2011, 7:33 pmIf price maintain 1700 or lower until Monday, then you probably will get RM175/gm which I think is very worth it

This post has been edited by hongchai888: Sep 23 2011, 07:35 PM

Edited

This post has been edited by hongchai888: Sep 23 2011, 07:43 PM


Attached image(s)

old Prices Keep Falling with Stocks amid "Full Blown Recession" Fears, Silver Flirts with Biggest Weekly Drop in 30 Yrs - 23 September 2011
Dollar Gold Prices sank yet again on Friday, falling to a seven-week low below $1700 as world stock markets continued their slump – as did industrial commodities – while the zero-yielding Dollar and Yen continued to rally.

Ministers of the G20 group began their weekend meeting to address the Euro crisis. This Sunday marks the 80th anniversary of Great Britain being forced to formally abandon the Gold Standard in 1931.

"Many may well be and some already have been liquidating their gold positions to cover their losses in other sectors, putting downward pressure on Gold Prices," says a note from Swiss precious metals group MKS.

"A break of $1704 [confirms] a double top is in place," add technical analysts at bullion bank Scotia Mocatta – who now see a move down to $1488 a possibility.

By Friday lunchtime in London, Gold Prices were looking at their biggest weekly loss for nearly three year, with a 6.8% for the week. Based on Friday-to-Friday London Fix prices, the previous biggest weekly loss was in December 2008.

I wonder why our Europe and US dude so panic about the outcome of FED meeting recently.

Most of the investor withdraw their money from stock and gold market. Its really need to take some time to recover this time.

I predict at least will hit back to 1700 during Monday Asia market due to everybody 'rush' to restock. Not sure the Europe and US dude see this as a revival of gold market or continue to dumb their gold

Its only lunch time in US now..... Cant imaging later close market is what price.

This post has been edited by hongchai888: Sep 24 2011, 01:13 AM

I not sure whether you all realize or not, as soon as the price try to go up, it will be pull down immediately.... I think someone play something behind

If drop below 1630 how?

I have gone through those China forum and they predict what will happen next week as below :

-If you realize, the gold price raised to 1650 at the very end of the market, right before market close after whole day fall. This is probably the illusion/trap that created by US dude. Many Asia people will though the fall is over and start to buy in, eventually pull the price up before US market open.

-As soon as US market open, US dude will start to dumb their gold with 'higher' price. A good move to lure Asia investor fall into the trap, putting Asia dude money into own pocket as investor grab this chance to run away from the market.

-Always remember, US dude is the 'banker/dealer' in this game. Do you think they stupid until make the price greatly fall and let you buy in at very low?

-The fall is just start, many factor shown that it may fall to as low as 1200 (means the bull market is over for gold) or 1400 (take time to recover, 6 months perhaps), especially when USD continue to strengthen.

-Gold will continue to raise in the future, but not in short term. Go ahead to buy if you looking for long term investment.


CAVEAT: DO NOT BUY/SELL BASED ON MY COMMENTS HERE AS THESE ARE JUST MY OWN OPINIONS BASED ON WHAT I READ. DO YOUR OWN DILLIGENCE BEFORE INVESTING.

Walao goldprice.org gave wrong price info lar, the closing price on Friday should be on 1639.8

It seem Asia investor also become panic already. This is consider a great buy in time compare with RM 183/gm 2 weeks ago, but what I can see is the price continue dropping.....

yes, until Europe market open then different story, but bank has close by that time.

Price strong support at 1630. The direction will clear if it can hold and raise later.

If see 162x, gone case.