Gold at 2-week low as U.S. data fuels Fed tapering talk

"I think gold really took a hit on today's economic data," said David Lee, vice president of trading at Heraeus Precious Metals Management.

"The possibility of Fed stimulus tapering starting in September, or even by December, is really a concern now with the better services sector and preliminary jobs reading for August."

"Everyone is trying to pre-judge what the Fed might do," Citi analyst David Wilson said. "So, if the employment numbers are better than expected it will heighten the sense that tapering will be sooner rather than later, and the reverse if the data's below expectations."

$1388 after NFP

Gold futures gain as Fed expectations shift

Gold futures rose Friday, paring loss for the week after a disappointing U.S. jobs report scaled back expectations of how the Federal Reserve may reduce its extraordinary economic stimulus.

Friday’s gains were “triggered by the disappointing jobs growth,” he said. “The thinking is that with the weak jobs market, the Fed will not taper, or will taper-[light].”

As for developments regarding Syria, Atyant’s Mimani said that it’s sort of a misnomer that war or military strikes are good for gold.

“Gold does have a tendency to spike during times of global conflict as a knee-jerk reaction, but those gains never hold,” he said. “The primary and only real driver of gold is central bank policy, fiscal policy and interest rates.”

One man meat is another man poison ... War really can push up gold ?
Haizzzzzzzzz ...So has to hope another war just to push gold price up ?
NO NO N NO

Should you join the buyers as the gold price rises?

Gold has bounced back as investors seek exposure to the metal in all its forms. Fears of inflation and of conflict in the Middle East are just two of the factors driving demand. Should you be joining the buyers?

The gold price crashed in the first part of 2013 but staged a recovery in late June; the price has risen by more than 20pc. Now consumers in Asia, along with other investors spooked by events in Syria, are driving stronger demand – just as supply is falling as miners scale back production.

http://www.telegraph.co.uk/finance/persona...rice-rises.html

1. no, have to open in maybank branch. minimum 1gram to open. only during weekdays as the gold trade only on weekdays
2. once u open with the branch you will receive passbook.
3. u can do it via maybank2u
4. not sure.but if u sell your last 1gram, will auto close
5. no comment

Gold is definitely on a very very good prospect heading to the Q4 of 2013...

worth buying at the current price..

Are you trying to sell your gold? else may be you like to justify for your finding.

hi i'm interesting and new into this gold investment? any proper advice?

it's rm150 now. is it worth buying sold too soon

Eh, how come suddenly spike up.
I see 8.30am still RM147-148.

cimb selling for 150

just got my 1st gram from MGIA. lol

what's with the sudden spike in gold price?

all of a sudden RM150?

I think this week you;ll see quite major movements (upwards) for POG.

my guess is that it'll move up somemore. US might hit syria. 12 countries supported the intervention in G20.

Now USD1386/oz

Gold edges lower on euro, Fed uncertainty may help

Gold edged lower as the euro eased on Monday but a possible delay in the U.S. Federal Reserve's decision to taper off its bond-buying programme could boost the metal's safe-haven appeal.

"This confusion will likely prevent gold from weakening substantially over the course of this week, but we suspect that the selling should intensify after the Fed meeting is out of the way and assuming we do indeed get a modest amount of tapering."

Jewellers in main gold consumer India expect a surge in imports this week after the government clarified overseas buying rules. Most of the jewellers are sustaining on stocks shipped from April to May, which totalled more than 300 tonnes.

the price are usually stagnant in the beginning of the week. things will get interesting from wed onwards. especially these few weeks

Traders split on gold touching new highs in next 2 years

Gold traders are divided on the outlook for prices next week, weighing signs of an improving US economy against the threat of a military attack on Syria. Two years after bullion set a record, the majority said a new peak won't be reached in the next 24 months.

Thirteen analysts surveyed by Bloomberg expect prices to rise next week, the same number were bearish and five were neutral. Gold slumped 28% since it reached an all-time high of $1,921.15 an ounce on September 6, 2011.

Eighteen people surveyed said the metal won't exceed that level in the next two years and 11 predicted another record. Gold is set for its first decline in 13 years after some investors lost faith in the metal as a store of value. Bullion rallied 17% from a 34-month low in June as the slump stoked demand for jewellery and coins and western nations debated attacking Syria after accusations the government used chemical weapons.

An accelerating US economy increased speculation the Federal Reserve will buy fewer bonds to stimulate growth, diminishing demand for gold as a hedge against inflation.

"As long as we're speculating on when any possible military intervention might take place, that could be supportive for gold as a safe haven," said Jonathan Butler, a precious metals strategist at Mitsubishi International (Europe) in London.

Fed bond buying "will be scaled back in the remainder of this year. If that were to take place, there's going to be some downside for gold," he said.