Previous Version of Gold Investment Corner
Buying Gold As Investment V1
Buying Gold As Investment V2
Buying Gold As Investment V3
Gold Investment Corner V4
Gold Investment Corner V5
Gold Investment Corner V6



1)Daily Gold Price RM/gram -------> http://jinjack.net/vdraw/grab/gold_rate/

2)Live Gold Price --------> http://goldprice.org/spot-gold.html

3)Gold Volatility Index --------> http://www.cboe.com/micro/gvz/introduction.aspx

This post has been edited by davinz18: Mar 20 2014, 04:56 PM

Gold headed for biggest monthly gain since Jan 2012

"We see some speculative buying on gold and silver," said a Hong Kong-based precious metals trader. "Stops were triggered once gold hit $1,330."

"There is also month-end buying from funds as they window dress their portfolios."

Gold premiums in Shanghai have eased from last week, indicating a slowdown in demand. Shanghai gold
was about $16 more than London spot prices, down from more than $25 last week.

Gold imports by India have halted since July 22, when the central bank announced new rules tying imports to exports, sending premiums for scarce stocks soaring.

Gold eases on US data and stronger dollar

"I think people might be hard pressed to come up with a really compelling reason to put new positions on gold based on that one statement," said a Hong Kong-based precious metals trader.

"If we see a very strong recovery in the employment situation, that will unsettle the markets," he added.

US nonfarm payrolls data is due for release on Friday, and will follow Wednesday’s gross domestic product and jobs data that painted a brighter picture of economic growth.

Physical demand for bullion also remained quiet. Shanghai gold futures turned negative after gaining at the open, indicating soft buying in China — the world’s second biggest bullion consumer.

In top buyer India, gold imports have come to a halt due to uncertainty in import policy, keeping premiums high at about $45 an ounce over London prices.

The Indian central bank had still not issued any clarification to importing agencies regarding a rule that ties imports to exports, a Mumbai-based dealer said.

What goes up must come down one day

Gold heads for weekly decline as jobs data loom

The metal faced a weekly loss of more than 1%, which would be its first such drop in four weeks.

Brightening economy data raise expectations that the Fed will slow the pace of its monetary stimulus, which has been considered a drag on the dollar’s value but a boon for gold prices in recent years.

Gold inches up on weak jobs data, stimulus hopes

"These markets are very much driven in the immediate future by the data that gives us an idea as to when the tapering is going to start taking effect. And gold being very much the most sensitive to that," said Mark Keenan, cross-commodity research strategist at Societe Generale in Singapore.

"The tapering is very much on the horizon. We see it this year," said Keenan.

Hedge funds and money managers trimmed their gold net longs and raised their bullish position in silver futures and options, a report by the Commodity Futures Trading Commission showed on Friday.

"The outlook is bearish for gold, and we expect a test of the major low at USD 1,180, to target USD 1,156," ScotiaMocatta analysts wrote in a note. Gold hit a near three-year low of USD 1,180 on June 28.

Gold Slides Below $1,300 as Investors Weigh Stimulus Outlook

“Bullion was weighed down by comments from Dallas Federal Reserve President Richard Fisher,” James Steel, an analyst at HSBC Securities (USA) Inc., said in an e-mailed note today. The speech showed the Fed “is now a step closer to withdrawing from its quantitative easing program.”

Fisher said in a speech in Portland, Oregon, yesterday that a decision to slow purchases is “closer to execution mode,” and that “financial markets may have become too accustomed to what some have depicted as a Fed ‘put,’” or the idea that the central bank will loosen credit after a market decline.

Gold also fell as holdings in the biggest bullion-backed exchange-traded product extended their slide. Holdings in the SPDR Gold Trust declined 0.2 percent to 917.14 metric tons yesterday, the lowest since February 2009, according to data on the fund’s website.

Selamat Hari Raya Aidilfitri

Happy Holidays

Gold Snaps Four-Day Advance as Rally Hurts Demand

Gold snapped a four-day advance as a rally to the highest level in almost three weeks damped demand and prompted some investors to sell.

“The market is consolidating after recent gains, with a stronger dollar weighing on prices,” said Sun Yonggang, a macroeconomic strategist at Everbright Futures Co., a unit of one of China’s largest state-owned investment companies. “Higher prices may deter fresh investment and physical purchases.”

Holdings in the SPDR Gold Trust, the biggest bullion-backed exchange-traded product, were unchanged yesterday after climbing on Aug. 9 for the first time since June 10. Holdings have contracted 33 percent this year.

According to Report SOS, only KFH Gold Account-i by Kuwait Finance House (KFH) is confirmed to having been approved as providing Shariah-compliant products.

The other six banks still sell gold based on conventional banking thus is not syariah compliant and investors cannot withdraw their gold account deposits in its physical form.

Gold futures log gains after 1% loss

Gold futures edged higher Wednesday but gains were modest as the market came off a sharp decline in the previous session. Gold prices are trading marginally higher on “value buying following significant losses” on Tuesday, wrote analysts at ICICI Bank in a note Wednesday.

A halt in the exchange-traded-funds selloff, as holdings in the SPDR Gold Trust remained unchanged at 911.13 metric tons for third day in a row as of Tuesday, “aided the outlook on metal demand,” the analysts said.

HSBC said Tuesday’s drop in gold prices came as the Reserve Bank of India raised the import duty on gold for the third time this year in an effort to help narrow the country’s current-account deficit. The duty was increased to 10% from 8%.

There has also been “good physical buying” of gold in China, with Steel noting an indicator of demand is gold’s premium on the Shanghai Gold Exchange.

Gold near 3-week high on U.S. data, fund inflows

Gold extended gains on Thursday to a three-week high on hopes the Federal Reserve may not scale back its commodities-friendly bond buying soon, and as holdings at the world's top gold-backed exchange traded fund (ETFs) rose for a second time in a week.

Traders shrugged off tighter import rules in India and outflows from other gold ETFs, pushing up prices for a sixth session out of seven on the prospect of rising demand from investors and physical buyers.

Physical demand, however, seemed to be picking up with the recent stabilization in prices bringing back buyers.

Demand in India and China could each cross 1,000 tonnes this year, the World Gold Council said on Thursday. It also said overall gold demand fell 12 percent in the second quarter due to the outflows from ETFs.

Gold reverses sharply after US jobless claims plunge

Gold fell on Thursday, reversing from a 3 week high after the number of Americans filing new claims for unemployment benefits fell to a near six-year low last week, hinting at a pick-up in job growth in early August.

Initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 320,000, the lowest level since October 2007, the Labor Department said on Thursday. Additionally, the Labor Department said on Thursday its Consumer Price Index rose 0.2 percent as the cost of goods and services ranging from tobacco to apparel and food increased.

China and India may not be enough to rescue gold: Clyde Russell

With gold demand slumping to the lowest in four years in the second quarter, bulls are grasping to hold on to anything positive and right now that means India and China.

India regained its lead over China by buying 310 tonnes in the second quarter, up 71 percent from the same period in 2012 and 21 percent above first quarter purchases.

China bought 275.7 tonnes in the second quarter, a jump of 87 percent from the same period last year, but 6 percent below the first quarter's demand.

But even the strong demand in the Asian giants wasn't enough to offset the dramatic outflows from exchange-traded funds (ETFs), which saw 402.2 tonnes of sales, more than double the 176.5 tonnes that flowed out in the first quarter.

This meant that total gold demand was 856.3 tonnes, a drop of 12 percent from the same quarter of last year and the lowest three-month total in four years.

Gold Near Two-Month High as Stocks Drop, ETPs Stabilize

The break above $1,350 prompted a short-covering rally even though expectations are still for the Fed to scale back stimulus,” said Yang Xi, an analyst at Yongan Futures Co. in Hangzhou, China, referring to some investors closing bets on losses. “Physical demand for gold rises and falls with the price. Between the two, silver seems better placed as industrial demand should increase if the economy recovers.”

While assets in the SPDR Gold Trust, the biggest bullion-backed exchange-traded product, decreased yesterday to 912.92 metric tons, holdings are heading for a weekly increase for the first time this year. In China, consumption increased 54 percent in the first half, the China Gold Association said this week.

Good for you

Less "heart Pain" for you

Gold Trades Below Two-Month High as Rally Spurs Investor Sales

“We saw a little bit of profit taking,” Afshin Nabavi, a senior vice president at bullion refiner MKS (Switzerland) SA in Geneva, said today by phone. “Physical demand is a little bit slower than last week because of the higher price level, but there is still some demand.”

Spot price MYR144/g

Gold Slumps on Stimulus Concern as Commodities Selloff Deepens

Gold fell for a second day, heading for the first back-to-back drop in two weeks, as investors assessed the prospect of reduced U.S. stimulus and a rally to a two-month high damped demand. Silver slumped by the most in six weeks, while platinum and palladium declined with commodities.

“Prices dropped quickly as some investors started to close out positions to reduce risks before the Fed releases its minutes,” said Guan Bingren, a trader at Shanghai Hedge International Trading Co. “This is also related to the broad selloff today.”

Gold futures wobble with Fed, India in focus

Gold futures wavered around the flat line on Tuesday ahead of the release of the latest Federal Reserve policy-meeting minutes, with demand from India a possible wild card in waiting.

The markets have proved very sensitive to any clues as to when the Fed will begin slowing the pace of its stimulative bond buying, currently at $85 billion a month.

The purchases are widely seen as supportive of gold prices, in part by pushing the U.S. currency lower, making dollar-denominated gold cheaper for holders of other currencies.

“The bulk of rural India’s income is derived from the agriculture sector, and a more bountiful harvest may lead to an increase in physical-gold buying ahead of the festive season later this year,” wrote HSBC analysts