Gold hits 12-week high on Syria war jitters, Fed taper uncertainty

Gold futures edged higher on Tuesday, briefly climbing above the key USD1,400-level amid ongoing uncertainty over whether the Federal Reserve will begin tapering its stimulus program next month.

Moves in the gold price this year have largely tracked shifting expectations as to whether the U.S. central bank would end its quantitative easing program sooner-than-expected.

Gold traders have closely been looking out for U.S. data reports recently to gauge if they will strengthen or weaken the case for the Fed to reduce its bond purchases.

Any improvement in the U.S. economy was likely to reinforce the view that the central bank will begin to taper its bond purchase program in the coming months.

The central bank is scheduled to meet September 17-18 to review the economy and assess policy.

Meanwhile, some safe haven buying emerged amid growing speculation the U.S. and other Western nations will intervene in Syria in wake of allegations that Bashar al-Assad’s government forces used chemical weaponry against civilians.

An exit from the stimulus would deal a heavy blow to gold, which has thrived on demand from investors who buy gold to hedge against the inflationary risks of loose monetary policies.

Go go go, hit 160 n i cash out for other investment.

how much u bought it? mind sharing?

205gm in uob

i mean the price.

yes because of war

gold price will increase more

mixed.

7x grm @ 168
rm3k~6k at 150

i forgoten the numbers adey

This post has been edited by endau02: Aug 27 2013, 06:08 PM

hit 160 not enough. 170 at least...

ringgit drop till 3.8

price keep on increasing. what are the main factor sifu's?

Now MYR152/g

Walaohei ... So fast 1418 ready
But very very n very GOOD
So many HAPPY woooooo
Keep up up n away

Concerns about possible U.S. military action against Syria

Uncertainty about reduction in monetary stimulus by the Federal Reserve

1420/oz now

1418/oz now

still thinking to sell off or not.

bought at RM129.98

Whoa... Thats a very very good rate. Lucky you.

To hold or not, u already earn. It's a matter of earning more or less.

Just wondering. What's is the highest price that ppl buy here? My highest price was rm148.51

but i only bought 60+gram, should have bought more but no money that time

thinking to sell off or hold it as an asset.

what do you think?