Gold is forming a breakout pattern, up or down no one knows BUT it appears to be leaning more towards DOWN. Crude Oil and Ringgit have hit a support and a bouncing there BUT both also leaning more to DOWN. If you are SHORT (Sell Position) in any of these three assets, good for you. If want to take the LONG (Buy Position) then you either have a deep pocket, you are absolutely sure that these markets are going to rebound (you are a master trader/investor), you have already made your pile when it went down a few month ago and can afford to lose a % of what your already made... or you are very confused

Status quo on Gold, Crude Oil & Ringgit. It appears that market players are waiting for something to happen

Probably, yes... but for me it is just an assumption, a guess

With technical analysis it is not too difficult to "see" that the market is waiting for something to happen This is like having the right eye wide open and be able see WHEN something is happening. To know WHY something is happening or why something is NOT happening then it becomes necessary to acquire the knowledge, tools, skills and experience in fundamental analysis. That is like opening and seeing with the left eye and so now got two eyes watching... sure better lah, my fren.

Hmmm, need to work on it to develop the second eye and not to forget that there is also the "third eye" which cannot be learned, it is acquired through years of experience by watching & trading the market. BUT then as always there are exceptions and there are miracles. This, just in case there is someone here who knows of someone who just left school or is "handicapped" etc. etc. and is making tons of money trading the markets.

This post has been edited by lyralp: Nov 13 2014, 05:17 PM

Crude Oil is now doing $76/barrel, broke the $80 mark, is a four year low i.e. October 2010 price and as always they got something to say after it has happened. For now they are saying it is because of a "glut". Gold & RM seems to be holding for now but for how long is a ?

This post has been edited by lyralp: Nov 13 2014, 11:54 PM

Crude Oil doing $74/barrel, Gold forming perfect breakout pattern (appears more to downside), Ringgit - ding dong ding dong above a support line

Most index futures are going up BUT our own FKLI is not following for sometime now, people go down we went up, people go up we coming down. Ask a fren, what happen? he said our KLCI "lau sai"... what?

Crude Oil remains weak BUT Gold is getting stronger (doing 1173) against Ringgit which is getting weaker (i.e. USD getting stronger and doing RM3.348/USD)

Gold doing 1188/Troy Oz & is UP quite a bit, Crude Oil still damp, USD moving sideways (in a range) for the past 9 days and kept in bay by resistance at around RM 3.35

Yep, Gold is doing 1196/Troy Oz and seems to be going strong in upwards direction, Crude Oil still damp, USD has broken out of the 9 days range and
moving upwards

Gold Up - 1200 level broken, USD also Up, Crude Oil lethargic

Wow, very impressive & informative intra-day chart

Gold is doing 1194, the upward trend is still intact for now, Crude Oil is forming a breakout pattern, USD going strong.. up, up, up for about 12 days now meaning Ringgit against USD down, down, down. 1 USD is now worth RM 3.36

Zero, I dont think the Malaysian or Singapore authorities will stop you because you do not
have any precious metal on you... BUT again who knows.. maybe I am wrong

This post has been edited by lyralp: Nov 20 2014, 07:57 PM

Gold is doing 1204, is Up, Crude Oil has moved Up quite a bit & USD also Up

Not to worry, it was all in jest... thanks for the info

Gold doing 1196 and still in uptrend (minor), Crude Oil is Up, USD's upward move has lost momentum

Thanks, I appreciate it very much

This post has been edited by lyralp: Nov 26 2014, 10:41 AM

Gold doing 1200 but unable to maintain earlier strong upward momentum, Crude Oil and USD also slipping.

Gold doing 1197 and is going sideways/consolidating/ranging and maybe forming a breakout pattern, Crude Oil and USD "damp". This of course is the "big picture"

I am learning this trade myself & If I am not mistaken, there are only six banks in Malaysia where you can trade/invest in "paper gold" with most allowing withdrawal in physical gold. The banks are UOB, Public Bank, Maybank, CIMB, Kuwait Finance House and HSBC. You can check their website for full details on their Gold Account.

For me, the order of importance 1) Purity - is it 999.9, 99.9 or 99.5? this to ensure we can make an apple-apple comparison between the banks offering this product 2) The buy/sell spread i.e. how much I pay when I buy & how much I get when I sell it back and is measured as a percentage. The lowest is UOB at 1.61%, the highest is KFH at 6.1%, HSBC is ????, is in Oz whereas all the others are in grams and still ???? 3) Whether can trade on-line so as to avoid the hassle of traveling to/from the bank, an important factor I think 4) The mark-up compared with the spot price (e.g. London Fix). I believe the rest of the matters are +/- and it includes a) how many grams initial purchase b) how many grams subsequent purchase/sale c) minimum balance in account d) Do I need an associate saving/current account e) Whether our "paper gold" is backed up with physical gold f) passbook or monthly statement, etc etc.

o You can track the banks selling & buying price on their website but HSBC ???
o How much to start is dictated by the bank based on specified "Initial Investment". How much you want to invest is up to you but if you are new better to start with the minimum... get knowledge, tools, skills and experience before building on it.
o There are many factors which affect the price of Gold... USD is just one of it
o Which banks? I am still checking it out

Welcome to "paper gold" trading, lets make money here then talk about physical gold and then on to Bursa's gold futures (FGLD) which is moving quite slow