Hi All,

Anyone kept track of the gold rates in 18/03/2014 and 20/03/2014 for:

1) Maybank
2) P.Bank
3) CIMB
4) UOB

??

Lost track of it

Gold on target for biggest weekly fall in 6 months
http://www.thestar.com.my/Business/Busines...ll-in-6-months/

The physical price of gold as at 5pm, stood at RM137.66 per gramme, up RM1.07 from RM136.59 at 5pm yesterday - Bernama

Why gold’s gains won’t last: Goldman Sachs
http://blogs.marketwatch.com/thetell/2014/...-goldman-sachs/

Sticking to a year-end $1,050/oz target for gold, Jeffrey Currie, Goldman’s head of commodity research, says the only reason the precious metal is trading at the best levels since September is because of the three “C’s”:

1.Sharp slowdown in U.S. economy activity due to the cold
2.High Chinese credit concerns
3.Escalating tensions over Crimea.

Gold up yet still set for biggest weekly fall in 4 months

Gold rose on Friday ahead of a series of speeches by US Federal Reserve officials but was still on track for its biggest weekly fall since November following the Fed's hints of an interest rate hike in the first half of 2015.

It was on course for a 3.3 percent weekly fall. "After the Fed policy meeting we saw gold fall and touch support around $1,320," MKS SA head of trading Afshin Nabavi said.

"But with tensions again escalating between Russia and the West, the market has become more jumpy because it is not only the macroeconomics driving prices but also the political situation, at least in the short term."

The physical sector noted light buying from jewellers, but demand from main consumer China remained slow because of a weak yuan, which hit a 13-month low. Premiums for gold bars in Hong Kong were unchanged from last week at $1 an ounce to the spot London prices.

Weakening differentials between 99.99 percent purity gold on the Shanghai Gold Exchange and cash gold discouraged imports.

hellow guys

i want to sell two gold bracelet 916 rm135/g (used). anyone interested? can cod at Ar rahnu to ensure that the gold is pure. tq

The gold futures contracts on Bursa Malaysia Derivatives are expected to remain well bid next week.

Chief economist at IQI Group Shan Saeed said developments in Ukraine's Crimea region and the US Federal Reserve's (Fed) interest rate hike message will keep gold in the limelight going forward.

Shan said regardless of what happens in Crimea next week, gold prices are likely to be one of the few beneficiaries.

"Macro variables, physical demand and geo political factors will continue to impact gold prices," he added.

Meanwhile, Phillip Futures Sdn Bhd dealer Lim Eng Wee, said Bursa’s gold future contract will continue tracking the COMEX gold futures next week. Important levels for the local spot month contracts to check on next week would be the resistance at 143.05 and 144.25 and support at 139.90 and 137.95.

For the week just-ended, physical gold closed at RM137.66 a gramme.

The local gold futures contracts ended the week higher on Friday, as it tracked the COMEX gold futures and amid demand for a safe-haven commodity.

On a Friday-to-Friday basis, March 2014 and April 2014 recovered early losses by 38 ticks to RM142.75 and RM142.90 a gramme respectively, while May 2014 and June 2014 declined by 32 ticks to close at RM143.20 a gramme.

Open interest on Friday stood at 1,620 contracts versus 1,253 contracts previously.

Total volume, however, rose to 2,292 lots, valued at RM30.83 million, against 1,394 lots valued at RM20.0 million.-- Bernama

Gold ticks lower on dollar, palladium holds near 2-1/2-year high

Gold fell half a percent on Monday after posting last week its biggest weekly drop since November on the prospect of a US interest rate hike in early 2015 that has boosted the dollar and dented the metal's appeal as a hedge against inflation.

A lack of activity in the physical sector also raised some concerns, with demand from top consumer China likely to be subdued because of a weak yuan and the discounted prices on the Shanghai Gold Exchange, which discourage imports.

Gold is under pressure from the US dollar as the US Federal Reserve scales back its quantitative easing programme and has suggested a rise in interest rates quicker than expected, said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.

"We can say the initial support will be $1,325 to $1,320. The downside may be $1,300, and let's see if it can break that or not. On the upside, I think $1,350 could be capped," Leung said.

So equities which has a potential to drop by 40-50% and I am talking about blue chips is safer then gold. Ok. Gotcha.

Dear all,

Today's gold price went down sligltly.

PAMP SUISSE GOLD BAR - from Al Rajhi Bank Malaysia

As at 25/3/2014 at 9.15am

Weight
Bank Buy (RM/pc)
Bank Sell (RM/pc)

10g
1,343.93
1,532.48

20g
2,687.85
3,015.60

50g
6,719.63
7,437.68

100g
13,439.25
14,798.70

500g
67,196.25
73,495.80

1000g
134,392.50
146,239.39

For further info on regular gold savings plan, kindly PM me if interested.

When crisis n world economic happen gold still the best


Attached thumbnail(s)

Gold off 1-month low, but US rate hike worries cap gains
http://www.thestar.com.my/Business/Busines...ries-cap-gains/

Luckily i sold all paper gold back to maybank on 17 march @ rm143/g at 10am. Phew.

Gold fell to its lowest in more than five weeks yesterday as the dollar edged higher on after a top Federal Reserve official reinforced the likelihood of higher United States interest rates in the first half of 2015.

Spot gold, higher initially, hit its lowest since February 14 at US$1,305.50 (US$1.00 = RM3.27) after the Fed's official comments.

It fell 0.1 per cent to US$1,307.79 by 1242GMT. US gold futures fell US$2.60 to US$1,308.50.

Silver rose 0.7 per cent to US$20.02 and platinum gained 0.3 per cent to US$1,426.50. Palladium slipped 1.3 per cent to US$781 an ounce. Reuters

Dear all,

Today's gold price update - Al Rajhi Bank Malaysia

PAMP SUISSE GOLD BAR

As at 27/3/2014 at 9.15am

Weight
Bank Buy (RM/pc)
Bank Sell (RM/pc)

10g
1,337.99
1,528.28

20g
2,675.97
3,007.20

50g
6,689.93
7,416.68

100g
13,379.85
14,756.70

500g
66,899.25
73,285.80

1000g
133,798.50
145,821.39

Dear all,

Al Rajhi Bank is having a Gold-i Regular Preservation Plan.
For customers who regularly invest minimum 10g or 200g gold for at least 6 times will enjoy discount up to 2%. Offer till 31 Dec 2014.
For further info, kindly PM me.

Going down below 1300/oz

The price is going aggressively down south. Like 1 min down 1/oz

Gold hit a six-week low yesterday, breaking below US$1,300 an ounce for the first time since mid-February.

Selling accelerated as the metal broke through psychological support points on price charts at US$1,300 and its 200-day moving average at US$1,296.

Spot gold was down 0.8 per cent at US$1,292.99 at 1215 GMT, a drop of three per cent so far this week. US gold futures for April delivery were down US$9.40 at US$1,294.00.

Silver was down 0.2 per cent at US$19.64. Spot platinum was down 0.1 per cent at US$1,397.25, while spot palladium was down 2.4 per cent at US$756.75. Reuters

The physical gold price as at 9.30am stood at RM131.99 per gram, down 79 sen from 132.78 as a 5pm from yesterday