Gold slips on hopes for vaccine, smooth White House transition

BENGALURU: Gold extended declines to a four-month trough on Tuesday as investors dived into riskier assets following drugmaker AstraZeneca’s boost to the coronavirus vaccine race and a US federal agency’s White House transition approval for Joe Biden.

Spot gold fell 0.5% to US$1,825.99 per ounce by 0545 GMT, having earlier slid to its lowest since July 21 at US$1,820.45.

It slumped as much as 2.2% on Monday. US gold futures were down 0.9% at US$1,821.30.

“Investors are clearly rallying around the narrative of a vaccine-fuelled economic reopening, to the point they’re willing to look past the economic realities and potential downside risks that may lie ahead, ” said FXTM market analyst Han Tan.

Asian equities rose after AstraZeneca said on Monday its COVID-19 vaccine could be up to 90% effective.

https://www.thestar.com.my/business/busines...ouse-transition

Find the one with low buy/sell spread.

Take example of CIMB e-GIA.

There's no fee for those 2 items:

Fees & Charges link: https://www.cimb.com.my/en/personal/help-su...ount-egia-.html

Product link: https://www.cimb.com.my/en/personal/day-to-...count-egia.html

This post has been edited by GrumpyNooby: Nov 30 2020, 08:52 AM

When will be the lowest price?
What is the lowest price?

For CIMB, it looks can be opened online via CIMBClicks.

For other banks, I'm not sure.

Gold drops another USD 15:

Gold: 1,772.50 -15.60 (-0.87%)

How was the experience? Easy to navigate?

All 3 giant e-wallets are supported.

Gold dips as equities climb on vaccine cheer; stimulus hopes support

BENGALURU (Dec 9): Gold prices eased on Wednesday as encouraging vaccine developments pushed investors towards riskier equities, although hopes for more US stimulus kept bullion near two-week highs hit in the previous session.

Spot gold fell 0.3% to US$1,865.46 per ounce by 0309 GMT, after hitting its highest since Nov 23 at US$1875.07 on Tuesday, while US gold futures eased 0.3% to US$1,870.20.

"Gold still has some firepower from all the stimulus, despite the fact that the vaccines are being rolled out... (stimulus) will provide gold with a lot of tailwind going into the year-end," said ED&F Man Capital Markets analyst Edward Meir.

https://www.theedgemarkets.com/article/gold...s-hopes-support

UOB min gram per transaction is 5g right?
CIMB is 1g also possible right?

Bank	BUY	SELL	Spread	Min g
UOB	242.60	238.50	4.10	5g
MBB	245.23	235.79	9.44	1g
CIMB (Clicks)	246.90	232.30	14.60	1g

This post has been edited by GrumpyNooby: Dec 10 2020, 10:19 PM

Call iTrade CS and to unblock (allow) the purchase.

As per morning price, it looks like UOB has the lowest spread:

Bank	BUY	SELL	Spread
UOB	242.00	237.90	4.10
MBB	245.23	235.79	9.44
CIMB (Clicks)	241.50	235.90	5.60

As of time of posting, HG has a spread of close to RM 14/gramme.

This post has been edited by GrumpyNooby: Dec 11 2020, 11:06 AM

Gold set for third straight weekly gain on US stimulus hopes

BENGALURU (Dec 18): Gold eased on Friday, but was on track to post its third consecutive weekly gain on growing expectations for additional stimulus measures in the United States.

Spot gold fell 0.2% to $1,881.65 per ounce by 0107 GMT, but was up 2.3% so far this week. U.S. gold futures dipped 0.1% to $1,887.90.

U.S. Congressional Republicans and Democrats scrambled to pass a new round of coronavirus aid on Thursday with lawmakers from both parties saying that failure to agree was no longer an option.

https://www.theedgemarkets.com/article/gold...-stimulus-hopes

Invest from as little as 1 gram of gold and stand to win up to 10 grams!



Campaign period: 15 December 2020 - 15 April 2021.



T&C link: https://www.cimb.com.my/content/dam/cimb/pe...win-tnc-eng.pdf
Campaign link: https://www.cimb.com.my/en/personal/promoti...7:home_a8:popup

UOB:

Bank	BUY	SELL	Spread
UOB	242.00	237.90	4.10
MBB	245.23	235.79	9.44
CIMB (Clicks)	241.50	235.90	5.60

*Old data as per last week

This post has been edited by GrumpyNooby: Dec 21 2020, 12:22 PM

Gold gains 1% as Trump signs pandemic aid bill

BENGALURU (Dec 28): Gold prices jumped 1% on Monday as investors cheered news that US President Donald Trump signed into law a long-awaited pandemic aid bill, with a weaker dollar lending further support.

Spot gold was up 1% at US$1,894.44 per ounce by 0344 GMT, after hitting a one-week high of US$1,900.04 earlier in the day. US gold futures gained 0.9% to US$1,899.10.

https://www.theedgemarkets.com/article/gold...ndemic-aid-bill

Gold begins 2021 with more 2% jump

NEW YORK: Gold prices rose more than 2% on Monday to their highest level in nearly two months, bolstered by the dollar's slide ahead of runoff elections for both U.S. Senate seats from Georgia.

Spot gold was up 2.4% at US$1,943.13 an ounce by 2 p.m. EST (1900 GMT).

The session high of $1,944.11 was its highest mark since Nov. 9. U.S. gold futures settled up 2.7% at $1,946.60.

https://www.thestar.com.my/business/busines...ith-more-2-jump

Gold heads for sixth weekly gain on stimulus outlook, Fed speak

(Jan 8): Gold headed for a sixth weekly advance, the longest run since August, as investors focused on the prospect for more stimulus. They will also be watching for Friday’s jobs report, which is forecast to show a sharp slowdown in hiring.

The two Democratic wins in Georgia’s Senate runoffs this week give President-elect Joe Biden full control of Congress, potentially paving the way for him to push his legislative agenda forward. While campaigning in the state, he vowed that US$2,000 stimulus checks would be sent out “immediately” if his party won.

Federal Reserve Bank of Cleveland President Loretta Mester said she didn’t believe ramped up fiscal stimulus under Biden would pave the way for a pull-back on monetary policy this year. Other central bank officials such as Chicago President Charles Evans and Atlanta’s Raphael Bostic have said they might support reducing the pace of the Fed’s ongoing asset purchases before the end of 2021 if the economy bounces back strongly enough.

https://www.theedgemarkets.com/article/gold...tlook-fed-speak

Gold extends biggest loss in two months on rising dollar, yields

(Jan 11): Gold fell to extend the biggest drop in two months amid gains in the dollar, Treasury yields, and equities, with investors weighing President-elect Joe Biden’s pledge to detail plans for huge U.S. economic aid.

Bullion endured a switchback week as January got under way, with early gains getting overturned as a surge in Treasury yields damped the appeal of the non-interest bearing asset. That’s come as the dollar recovered from its lowest level in almost three years. The S&P 500 hit another record on Friday.

https://www.theedgemarkets.com/article/gold...g-dollar-yields

Gold goes from commodity leader to laggard in shocking reversal

Feb 19): Gold entered 2021 with lofty expectations on the back of a record high and its biggest annual gain in a decade. Instead, the precious metal is off to its worst start in 30 years.

Bullion for immediate delivery headed for a sixth straight loss on Thursday, the longest run since late 2018, while gold futures touched a seven-month low, deepening a slump and falling through a support level that analysts say could portend further losses.

The metal, which surged last year on pandemic-induced haven buying, low interest rates and stimulus spending, has declined more than 6% in 2021, the worst performance on the Bloomberg Commodity Index. It’s suddenly facing a host of unexpected stumbling blocks. Chief among those are the surprising resilience in the dollar and a rally in U.S. Treasury yields as economic indicators show recovery from the pandemic is well under way.

https://www.theedgemarkets.com/article/gold...ocking-reversal