Now MYR149/g

Now already USD1405/oz

Gold pushes lower, but poised for August win

Gold fell Friday in electronic trade as the likelihood for imminent military action against Syria ebbed, but the precious metal stayed firmly on track to post gains for the week and the month.

“Following a multi-month decline, gold has rallied over recent weeks in the wake of a softer U.S. dollar and rising risk aversion,” wrote Crédit Agricole head of global markets Mitul Kotecha in a report Friday.

Gold may benefit in the short term from seasonal demands stemming from the Hindu festival of Diwali in November and on Syrian tensions, said Kotecha, suggesting investors sell on a rally to the 200-day moving average around $1,500.

But medium-term risks for gold “remain on the downside” based on forecast models for oil prices, the 10-year Treasury yield.

Now myr147/g

http://goldprice.org/gold-price-malaysia.html

if you look, it was 150 before dropped to 147.

Maybank always very slow when reducing the price

This post has been edited by davinz18: Aug 30 2013, 06:13 PM

Banks fixed the price. We can't do anything

This post has been edited by davinz18: Aug 31 2013, 03:00 PM

Gold investment depends on market condition. Sometimes we profit, sometimes we lose. One thing I can say is don't "put all eggs in one basket", just don't put all your money in GIA. Try to diversify your investment.
If you read those previous post by the sifu here, gold don't pay interest

Happy investing

Good to hear that. Some people invest heavily in Gold thinking they could make "huge" profit but actually made "huge" loses

Gold makes a comeback as demand for jewelry in India, China pushes its price higher

Gold is having a summer revival. The price of gold touched $1,420 an ounce this week, a three-and-a-half month high, as escalating tensions in the Middle East, volatile currency markets and renewed demand for jewelry in China and India pushed prices higher.

For many years prior to that, large investors, like hedge funds, bought the metal as a way to protect their investments against rising prices and a slumping dollar. They feared that the Federal Reserve's stimulus program could cause prices to rise. But inflation remained subdued and that reduced the need to buy gold.

Correct. We cannot predict the gold prices

Gold Pull Back on Syria Strike Delay

Gold prices fell in early Asian trading Monday, as plans from the White House to delay a possible military strike in Syria eased oil-supply concerns and upbeat manufacturing data in China pushed traders out of the safe-haven metal.

Monday's broad declines came after hedge funds and other money managers last week increased bets on gold to the highest point in seven months. Money managers also increased their bets on crude oil last week for the first time in five weeks.

In addition to the Syria threat declining, safe-haven gold was further hurt by upbeat manufacturing data over the weekend from China, the biggest consumer of industrial metals in the world.

"Some traders chose to liquidate their long positions in the morning," as an imminent threat of an attack on Syria by the U.S. and its allies receded, said Peter Fung, Hong Kong-based director of gold dealer Wing Fung Precious Metals.

Now USD1392/oz

Just pure luck. Tomorrow see how the situation

Now USD1389/oz

Gold extends losses as delay in Syria action, global data weigh

Gold edged lower for a fourth straight session on Tuesday as a delay in a potential U.S. strike on Syria and strong global economic data dented bullion's safe-haven appeal.

"Prices have gone too far too fast," said Victor Thianpiriya, an analyst at ANZ in Singapore. "A lot of the rally that we have had is on short covering. We haven't really seen investors wanting to own more gold."

The metal saw some upside last week as a U.S. strike on Syria seemed imminent. However, now that U.S. President Barack Obama has sought Congressional approval, the timing of any military action is uncertain.

"(The Syria situation) will be a bit supportive for gold if things start to escalate. If things get severe, people will start to dump riskier assets such as equities and that will provide a natural support for gold and other safe-haven assets," Thianpiriya said.

Now USD1393/oz

Gold steadies ahead of US economic data

Gold was little changed on Tuesday, as investors held off doing business before US economic data that is expected to provide clues on the Federal Reserve’s policy moves, while uncertainty remains around a possible US strike on Syria.

"It is difficult to predict development in the geopolitical situation, but obviously this will be followed by the gold market and, if we have a massive crisis, prices will rise on the back of it," Standard Chartered analyst Daniel Smith said.

"Any data out of the US this week is going to be pretty critical to the outlook of gold and we are expecting a strong labour report, which encourages the idea of QE (quantitative easing) tapering," Mr Smith said.

Now already USD1400/oz

Now already USD1407/oz

Gold trade above USD1,400 on renewed Syria strike concerns

Gold traded above the key USD1,400-level during European morning hours on Wednesday, as renewed concerns over U.S. military action against Syria boosted safe-haven demand.

Concerns over a U.S. military intervention against Syria’s government shifted back into focus on Tuesday after the Republican House Speaker John Boehner endorsed President Barack Obama's call for military strikes.

Meanwhile, investors continued to speculate over the timing of the Federal Reserve’s widely expected reduction in monthly bond purchases.

Data on Tuesday showed that manufacturing activity in the U.S. expanded at the fastest rate since April 2011 in August.

The Institute for Supply Management said its purchasing managers’ index rose to 55.7 in August from a reading of 55.4 in July. Analysts had expected a reading of 54.0.

The upbeat data reinforced the view that the Fed could start to unwind its stimulus program at its upcoming policy meeting on September 17-18.

Investors were now looking ahead to Friday’s highly-anticipated U.S. nonfarm payrolls report which is seen as key to the Fed’s decision on tapering.

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 near-term.