Just keep also no fun lahhh...must exploit as much as we can..

ya if we could find good source and medium, why not.we cud experience the thrill in selling and buying gold

This just in recently.

Published on ZeroHedge (http://www.zerohedge.com)

Home > MNI Reports Coordinated Central Bank Intervention Sends Gold Lower Intraday
MNI Reports Coordinated Central Bank Intervention Sends Gold Lower Intraday
By Tyler Durden
Created 12/08/2011 - 12:35
Tyler Durden's picture [1]
Submitted by Tyler Durden [1] on 12/08/2011 12:35 -0500

Bank of England [2]
BOE [3]
Federal Reserve [4]
Testimony [5]



It is one thing for conspiracy websites to indicate that the Fed or the global central bank cartel are doing everything in their power to manipulate the price of gold lower. It is something different when the 'reputable', Deutsche Boerse owned Market News [6]does just that.

MARKET SOURCES REPORT BIS, BOE & FEDERAL RESERVE WERE SELLING GOLD AFTER IT POPPED TO SESSION HIGH AT GMT 1335 -MNI NEWS via BLOOMBERG

So much for all those sworn testimony claims that the central bankers do not manipulate the price of gold [7].

h/t GoldCore

If anything happens to UOB, will our gold be lost?

Bro, UOB was ranked as the world's 32nd safest bank in 2010 and 26th in 2011. Maybank & Public Bank are not even in the list.

http://www.gfmag.com/tools/best-banks/1134...l#axzz1g7geUU9r

I think I can safely say our Malaysian economy is already dead if we ever see UOB collapse

not as simple as that, physical gold is still the best.
banker will know how to milk their customer. get physical and stop the milking process.

if paper gold is safe enough, why all the countries keep on buying physical gold and need to find a secure place to store it. They can just buy it through a bank and keep the 'gold saving book' in their drawer

So physical charge spread of RM20-30, is not milking while paper gold charge of Rm2 spread is milking?

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Added on December 11, 2011, 5:21 pmLOL, central bank can print money at their wish, they don't need paper stuff lah.
Do you see central bank open account with commercial to place deposit/FD to earn money? :lol

Yes, physical gold is the real game, paper gold is not.

But for small fry like me, it makes no difference, as I am not buying a few Kgs. and the main purpose of having gold (or paper gold) is making money.
For making money purpose, the one that with ease/less hassle and lower spread is preferred. As long as the bank is reputable and relative strong one, not those always have high NPL, or had trouble of liquidity issue etc. it is relative safe, as most gov won't let banks fail, they rather print money to bail out bank instead of letting banks fail, especially commercial banks.

I am not buying gold to look at its shinning yellow light, I am buying gold for the purpose of money.

Also central bank buying money is using foreign currency reserves, where they had no place to keep those.
For eg.
BNM receive USD from the exchange, where they can keep it?
Either use it to buy US treasuries, or keep in the safe deposit vault, or use to buy gold. Other than that, no place to keep. With fear of USD may devalue, buy some gold also a good choice, part of diversification.

This post has been edited by cherroy: Dec 11 2011, 05:35 PM

sometimes we are not sure that banks with gold savings account really have that 'gold' if we ask for it.of course when we ask for it is when we need money derived from benefit of the gold we invested.usually they only put the name on the savings concept and let people assume its a GSC.

It is investment basic.

Whether they have that gold or not is not your concern, (bank normally won't stupid left it unhedged totally for GSC, even if they had no gold, they may buy gold derivative in the financial market or whatever investment option)
You concern is bank fulfill the obligation as an account.
Same like your FD, saving in the bank.

If you view the gold account is not safe, then FD/saving account also not safe (for above 250k due to PIDM).

invest in physical gold is still the best for its stability.paper gold can be manipulated by irresponsible people and if you recall when we had the case 'spekulator matawang' our money value dropped and inflation rise

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Added on December 11, 2011, 6:04 pmim not saying that GSC is not safe compared to savings account..just saying that some bank dont really have physical gold when we ask for it or for withdrawal.like maybank, they dont provide those kind of gold withdrawal but why other bank can? and what we gonna do with the gold its up to us..furthermore GSC suits for big money investor cause it will be safer to put their investment in the bank rather than keeping it ourself

This post has been edited by hit47: Dec 11 2011, 06:04 PM

1680 nw

1670 now..

1. from legal point of view, you need to look at the contract for gold saving a/c. in most if not all occasion, it is unavailable for common people lah.
2. it is clearly stated in the term and condition that there may be some losses if U invest in gold.
3. default scenario.

1. U buy for Bank XXX in malaysia.
Bank XXX hedge the paper gold with Trader YYY at COMEX.
Trader YYY at COMEX screw up, cannot deliver the paper gold to Bank XXX.
How does Bank XXX going to pay U? put the blame on Trader YYY.
so nothing to do with Bank XXX reputation etc, it all has to do with the contract signed between Bank XXX and trader YYY.


2. U buy for Bank XXX in malaysia.
Bank XXX hedge the paper gold with BAnk YYY at COMEX.
bank YYY at COMEX screw up, cannot deliver the paper gold to Bank XXX.
Bank YYY will continue to print $$$ to pay Bank XXX lah.

then, U may see this announcement in the future.
a) to prevent manipulation, market loss to exchange etcc... spread of paper has to be higher.


then come a day, due to current scenario, we have to stop trading on Monday. Price is USD3000/oz
settlement price will be based on Monday.
then they will background print more $$$ then pay U USD3000/oz. irregardless on when U redeem it.
then when U get the USD3000. price of physical on Tuesday is USD4000/oz then on Friday it USD6000/oz
but U still have USD3000/- 1/2 of your $ is robbed.

to prevent all this scenario, get the real physical then nobody can steal it from U lah.



This post has been edited by GoldChan: Dec 12 2011, 10:29 PM

gold dropping fast now.. but sadly, my salary is not until end of the month..
hope the trend will continue until end of the month..
i dont hv enuff money to invest in physical gold..
will withdraw it for physical when i get enuff amount..
iinm, maybank allowed to convert from paper to physical right?

Share Price drop , gold price drop.....

Just to let u know that I have requested Manesh Patel to do a free webinar on Ichimoku this Saturday 17th Dec 2011, 7.30pm.

Please register at https://www1.gotomeeting.com/register/883633160 and you will receive the instruction on how to attend this webinar.

You can ask questions or request a forecast.

heyyy quinn, so nice to see you again

A very quick review..

Gold has broken out of the daily kumo with a break of the support trendline. Because the future kumo has not turned bearish, it MAY make a minor correction up before it resumes its bearish movement again when future kumo turns bearish.

Watch those important levels.

This post has been edited by Quinn: Dec 13 2011, 09:37 AM


Attached thumbnail(s)

Another waterfall when Hong Kong market open, investor lost patience on gold?