already went up wor... now only reload? wouldnt it bad timing?

Can wait till Feb 2014... another round of havoc in White House....

Gold jumps 3 pct; US budget deal seen delaying stimulus cut

Gold prices surged more than 3 percent on Thursday as the dollar stumbled, with bullion boosted by belief that a temporary deal to avoid a historic U.S. debt default might prompt the Federal Reserve to delay reducing its additional monetary stimulus.

"The U.S. debt deal is seen (as) positive for gold by market participants, for good reason, since the whole mess is just being postponed by 3-4 months, which makes a reduction of Fed asset purchases rather unlikely for the time being," Commerzbank analyst Carsten Fritsch said.

"We worked on the basis that gold price action was bearish, and that if we didn't have a debt default, gold would fall," Societe Generale analyst Robin Bhar said.

"There were probably lots of shorts in the market, hence the probe of the lows in the last week or so, and all of those guys have been wrongfooted, and have had to cover."

While the immediate impact of the deal for gold prices was positive, most believed gold would remain very much in bear territory overall, with an improving global economic picture contributing to investors exiting the market.

Good news for stocks

Now USD 1318, MYR 134/g

Nvm, more opportunity coming.

hahaha, yeah, they believe what they saw in TV. Thats why BN wins

or wait lo

got inside news kar? gold will fall down, very very down?

No inside news la. If got, I already rich lo. I'm just seeing US gets into more trouble. Like some say, the debt ceiling issue can only last till February. Same price drop will happen again. Unless unpredictable war happens la.

i see.

Gold Swings as It Heads for Best Week Since August on Stimulus

Gold swung between gains and losses as it headed for its best weekly advance in two months in London amid speculation the Federal Reserve will delay tapering stimulus. Platinum reached a four-week high.

“What’s happening with the debt deal is postponing all the pain that we’re going to see down the road, and it might hamper the growth momentum,” Dominic Schnider, head of commodities research at UBS AG’s wealth-management unit, said on Bloomberg Television’s “On the Move.” “With the prolonging of the problems in the U.S., tapering’s going to be postponed. Gold is supported but let’s be cautious about calling for a much higher price.”

“With the shutdown and the accompanying uncertainty surrounding it taking a chunk out of gross domestic product, bulls are thinking that Fed tapering will be put off for a bit longer than previously anticipated,” Jim Pogoda, a trading consultant at Gold Bullion International in New York, wrote in an e-mail yesterday.

Great

Now USD 1316/oz, MYR 134/g

Gold is on downward trend, why keep gold?


Getting news from wrong source can be worst than having no news.

This post has been edited by icemanfx: Oct 20 2013, 01:30 AM

What you trying to say?

I gave wrong information from wrong source?

Gold boosted by US deal as short-sellers scramble

By Neil Hume in London

Gold enjoyed its biggest one-day gain in a month as traders scrambled to cover short positions following a temporary deal to avoid a historic US debt default. Bullion rallied 3.2 per cent to $1,322 a troy ounce and drew further support from a weak US dollar.

Thursday’s bounce is the latest in a series of volatile moves for the precious metal, caused by a string of unusually large trades. Liberum Capital reckons 2m ounces of gold has been dumped in the market over the past week as short sellers started to ”test the water”. Analysts said some of those positions had been covered on Thursday following the last minute deal in the US Congress, which suspends the debt ceiling until February.

“Gold is failing to attract new longs in the futures market, which is an ongoing concern,” he said. “Furthermore, the risk of more Exchange Traded Fund liquidation must have increased now that uncertainty around a US default has eased.”

Data released on Wednesday showed holdings in the SPDR Gold Trust, the world’s largest gold-backed exchange fund, had fallen a further 3.6m tonnes to a four-year low of just over 885 tonnes.

Gold exchange traded funds, which hold physical bullion on behalf of investors, have experienced significant redemptions this year. Outflows for the year to date now stand at more than 700 tonnes and metals held in trust are at their lowest level since May 2010, according to Barclays.

More recently, bullion has also struggled to find support from the physical market, with Indian importers still hesitant to process orders and China’s gold market, a powerful prop for prices this year, subdued.

http://www.ft.com/intl/cms/s/0/4dfb11a4-37...l#axzz2iF3GjZ5D

BUY BUY BUY!!

This post has been edited by danmooncake: Oct 22 2013, 09:55 AM

Still not much changes from last week's closing.

all those people calling for a buy must be wishing for a miracle, in the short to medium term gold and silver will definitely tank