The physical price of gold as at 5pm stood at RM123.79 per gramme, up RM1.93 from RM121.86 at 5pm yesterday - Bernama

The physical price of gold as at 5pm stood at RM123.57 per gramme, down 22 sen from RM123.79 at 5pm yesterday - Bernama

The physical price of gold as at 5PM stood at RM124.03 per gramme, up RM1.14 from RM122.89 at 5pm yesterday - Bernama

1256/oz now

now 132/g @ maybank

I hope so

now 133/g @ maybank

The physical price of gold as at 5pm stood at RM125.82 per gramme, up 32 sen from RM125.50 at 5pm yesterday - Bernama

The physical price of gold as at 5pm, stood at RM123.49 per gramme, down RM2.33 from RM125.82 at 5pm yesterday - Bernama

closed for the week

usd 1236/oz, rm126/g

Gold loses its shine as funds predict 31% drop this year

Gold is rapidly losing its appeal in investors. According to a Bloomberg report, gold-backed exchange-traded products (ETPs) are being dumped by investors since their creation ten years ago. The report noted that this was the steepest decrease in price in the last 32 years.

London-based analyst Robin Bhar at Societe Generale SA said, "All the bullish factors we had pushing gold higher in the last 12 years are now going into reverse. There will be more ETF selling in 2014 as the price goes lower." Bhar is ranked as most-accurate precious-metals forecaster by the news agency for the last eight quarters.

New York-based director of research Mike McGlone at ETF Securities credited the economic expansion and rising equity markets aside from the planned tapering of the monetary stimulus program by the Fed for the gold fallout. We view 2013 as a correction in the longer-term structural gold bull market.

then the KFH GIA is conventional just like Maybank, CIMB, PB & UOB

their website stated follow Shariah concept of Bai' As-Sarf & Qardh

Gold Declines on Way to Worst Year Since 1981 as Silver Drops

Gold fell for the first time in five days, heading for its biggest annual loss in three decades as investor holdings extended their decline to the lowest since 2009.

"The perennial bulls have pulled their horns in,” said Jonathan Barratt, chief executive officer of Barratt’s Bulletin in Sydney. “The underlying theme has been the unanticipated weight of selling from the ETF market", he said.



This post has been edited by davinz18: Dec 30 2013, 04:25 PM

The physical price of gold as at 5pm stood at RM123.31 per gramme, down 65 sen from RM123.96 at 5pm last Friday - Bernama

very2 good yo

This post has been edited by davinz18: Dec 31 2013, 02:50 PM

The physical price of gold as at 5pm stood at RM122.23 per gramme, down RM1.08 from RM123.31 at 5pm yesterday.-- Bernama

Gold surges $20, silver rebounds after dismal 2013

Gold and silver prices rebounded on Thursday amid reports of physical buyers looking for bargains hours after the doors shut on 2013 — the worst year of trading for those commodities in decades.

There were reports of bargain hunters stepping in to buy beaten-down gold and silver, notably Chinese buyers. The Lunar New Year falls at the end of this month, and the holiday often represents a strong period of gold buying by the Chinese.

ICICI Bank said in a note, though, that the road ahead is still tough for gold. The analysts see gains limited for several reasons: tapering of quantitative easing, which is expected to continue at a gradual pace; waning safe-haven appeal of gold amid economic recoveries in developed markets; and poor physical demand from India due to import restrictions.

“Therefore in H1 2014, we expect spot gold to trade with a bearish bias,” said the analysts.

Dominic Schnider, head of nontraditional asset classes at UBS Wealth Management, said he sees gold having an “awful” year again in 2014. UBS has forecast that the precious metal could drop to $1,050 this year.

“People have been talking about [the Federal Reserve’s] taper, but I would really think about rate hikes. If you make a 12-month forecast, you need to look into 2015, and rate hikes are on the cards,” Schnider said.

The physical price of gold as at 5PM stood at RM125.82 per gramme, up 99 sen from RM124.83 at 5pm yesterday - Bernama

Barclays says gold likely to struggle in 2014

Barclays sees the price of gold at $1,310 per ounce in 2014, saying the yellow metal may not rise further unless interest rates remain low for some time and demand from China increases.

"Slower-than-expected tapering, weaker equity markets and a softer dollar could help to revive gold in the short term," the bank said.

"But a more structural shift in market dynamics, such as signs of inflation, delayed interest rate hikes or greater-than-expected demand from China, and from the official sector in particular, would be required to turn the tide for gold."

Rising demand for coins and small bars may support the gold price this year, the bank said.

Barclays said it had a gold price forecast of $1,425 per ounce in 2013, compared with the actual price of $1,412.

Gold steadies below 3-week high as funds reallocate positions

Gold steadied below a three-week high on Tuesday, attempting to extend gains to a sixth straight session, as funds rebalance weightings of gold at the start of the year, but gains were limited by a slightly higher dollar and firmer stock markets.

Analysts said that as the macroeconomic backdrop brightens, prices still look vulnerable to further losses, with the U.S. stimulus tapering starting in January, the possibility of a stronger dollar and low inflation likely to continue to deter investor interest.

In the short term, analysts said prices may gain some support from funds buying gold to rebalance their portfolios, after last year's price drop reduced the metal's value relative to other assets.

Gold dips on stronger equities, US growth hopes

Gold eased for a second session on Wednesday as equities inched higher on optimism over US economic growth, curbing bullion's safe-haven appeal.

Prices were hurt by data showing the US trade deficit fell to a four-year low in November as exports hit a record high and weak oil prices held down the import bill.

The numbers, the latest in a string of strengthening economic fundamentals, left economists anticipating a far stronger pace of growth for the fourth-quarter than previously expected.

"The global economy will continue to stabilise in the next few months, so we won't have much acceleration of prices," said Alexis Garatti, an economist at Haitong International Research in Hong Kong.

A strong economy and higher equities curb demand for gold, which is seen as an alternative investment.



This post has been edited by davinz18: Jan 8 2014, 05:10 PM

Bank of America Merrill Lynch slashes gold call to $1,150 and warns it could get uglier

Strategist Michael Widmer said his biggest gold worry is a lack of buyer interest, as investors have been a marginal driver of prices in recent years. A gain of around 2% so far this year hasn’t really convinced him either.

He adds that not even traditional buying of physical gold in India and China will be enough to keep prices from falling.

Other forecasters also see few prospects for recovery this year. MKS Group and HSBC also cut their gold forecasts, and Barclays’ Suki Cooper predicted gold could slump to a low of $1,050 an ounce this year. Then there’s blogger Robert Bonomo, who predicted gold will break below $960 an ounce, blaming the likes of MarketWatch and a few others.

Widmer says prices for gold could bottom out later this year. He reasons that a continued acceleration in the U.S. economy, tightening labor market and slowly rising inflation could trigger gold market players to increasingly adjust low inflation expectations, pricing in some unexpected inflation and luring back buyers.

The bottom line: Investors could see some “interesting entry points” for gold this year, he says.

This post has been edited by davinz18: Jan 10 2014, 06:06 PM