Gold now at US$1,828. Very volatile period. The moment gold drops below 1,800, ppl start to load up thus pushing prices higher. So it will take some some major rally in the stock market to ensure gold drops again.

More bad news for US & Europe. Gold up slightly to 1,835 now.

http://www.bloomberg.com/news/2011-08-30/g...-recession.html

http://money.cnn.com/2011/08/30/news/econo...x.htm?iid=HP_LN

This post has been edited by cybermaster98: Aug 31 2011, 03:21 AM

Read article on gold dated 31 Aug

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

Read gold commentries here:
http://silver-and-gold-prices.goldprice.org/

Gold now trading at US$ 1,883 per ounce. Will gold rise further? I think it will based on the following articles.

http://latimesblogs.latimes.com/money_co/2...-rescue-qe.html

http://money.cnn.com/2011/09/02/markets/oi...x.htm?iid=HP_LN

Short term buying n selling will only get you small returns while exposing you to greater risks. Always plan to keep gold for a longer period. Keep buying at the dips but try and hold on to the gold longer as the long term outlook for gold is up.

Gold now trading at RM 184.32 per gram (Maybank) or US$1,885 per ounce.

Gold now trading at US1,910. The reason it drops after a good rise is due to profit taking.

But the idea about selling at high prices and buying again at the low is not good. You should keep buying at every dip and not sell when it rises because the general trend of gold is still up. So even with the intermediate dips, the overall gold price is going up. Selling at some rises is merely limiting your overall earnings.

This post has been edited by cybermaster98: Sep 6 2011, 12:12 PM

I think the first question you should ask is 'Is the price high now or not?' The same people who said the prices at RM 131/g in May 2010 are too high also saying the prices at RM 186/g now are too high.

The general trend of gold is up. And i think if the economy remains this bad or gets worse, there's every possibility that gold will hit US2,500-3,000 within the next 6-8 months.

Guys,

Please read through all posts (especially the recent ones) to get an idea about how gold behaves. Many of the questions here have been asked numerous times. Its pointless asking the same questions over n over again. So im going to say this once for all newbies here.

Gold currently is on a major thrust upwards. But when there is a drastic rise (more than US$50 in a short timeframe), there will always be profit taking. This results in prices dropping until a lower barrier. Once prices are low enough, then the buyers move in with their purchases which in turn raises the gold price further. With the additional bad news coming out of US & Europe, this upper barrier for gold is raised further just like what happened today when gold prices reached US$1,920. Based on what's happening in US & Europe, there are good indications that gold will reach US$2,000-2,500 in the next 6 months unless the US recovers.

People generally will buy gold at the dips and some will sell when gold hits a high price. But i would always recommend buying at dips and not selling the gold u have when prices increase just to make short term profits. Gold is supposed to be a long term investment (physical and GIA investment).

So hope my brief explanation above will help answer questions like 'When is the best time to buy'. Gold is currently trading at US$1,895. Lets see how gold performs when US markets open in 3 hours time.

(p/s Can i suggest that we refrain from making comments that are not beneficial to the general discussion? Comments like 'hope you guys make alot of money', etc only serve to lengthen the thread. It makes it difficult for newbies to make reference to previous posts as they have to scroll through numerous pages.)

Thanks!

This post has been edited by cybermaster98: Sep 6 2011, 06:00 PM

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

Investors who were putting their money in Swiss Francs were badly hit. So most of them would have pulled put but didnt go into stocks or gold which probably led to gold dropping in tandem with stocks. But wait for the European stock markets to open later in the afternoon before we can gauge the true impact of the Swiss Franc peg. Gold currently trading at US$1,877 now. We should see a price of about RM 182/g on Maybank this morning.

Gold will always be there unless there is a total collapse of world markets. Gold now trading at US$1,871 and about RM 183.91 (Maybank).

Well i wouldnt say its the lowest. Maybe the lowest for this week so far. Current price is RM 181.37 at US$1,840. I think it may drop further.

Exactly! Gold is not like stock market la. You cannot micro monitor gold investments (unless ure in gold stocks). There will always be rises and dips in gold pricing throughout the day. Most important is you get the best (not right) price when you invest.

Take yesterday for example. Even though gold went up like crazy initially, the final closing price on Maybank was RM 184.08 which was less than Monday's close of RM 184.84.

Gold seems to be dropping drastically now. Its now at US$1,834. Maybank's rate is RM 178.98 now. We will get a clearer picture when European markets open soon. Till then just take it easy and dont get excited too much guys. Remember that you're just adding on to the number of pages in this thread and making it extra long with no real valuable input.

This post has been edited by cybermaster98: Sep 7 2011, 02:13 PM

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

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.

http://biz.thestar.com.my/news/story.asp?f...28&sec=business

So based on this, what would be the lower supprt level before prices start to rise again? So far prices are stagnating around the US$1,840 level.

Where are you getting your info from? The price is still at US$1,837 la. The last time it reached 1,820 was 1 Sept.

This post has been edited by cybermaster98: Sep 7 2011, 07:37 PM

Yes its very high. Its about RM7.43 compared to RM2 only for UOB. I wouldnt wanna pay the extra spread just to get the convenience of online transaction.

This post has been edited by cybermaster98: Sep 9 2011, 03:39 PM