Yes.
Last March high was $1,998.18

Just a few $ more.

But in MYR, it is at historical high
Expect gold ti be approx MYR9,000 on Monday.



This post has been edited by prophetjul: Mar 18 2023, 08:17 AM

Yeah.
My 1998.18 is end of day figure.

My CAGR on MYR is approx 11% over 21 years

This post has been edited by prophetjul: Mar 18 2023, 08:33 AM

Deleted

This post has been edited by prophetjul: Mar 18 2023, 11:50 AM

Wrong thread.

When the Fed starts to ease, gold will move up further.
Right now, it will move within a range for a while.

This post has been edited by prophetjul: Mar 25 2023, 10:02 AM

You already sold. Why bother?

There are a few trusted sites since i first bought physical in 2002.
I have not used these Msian sites so i cannot advise you.
Unkerpanjang will be a better person since he is still buying.

i used to buy bullion in the form of kijangs, pamps and Aussie Roos from banks in the 2000s.

Sell 330 buy 280 is much cheaper than Kijang. Kijang spread is at 3 to 4%

330/280 spread is only 1.5%. That is cheap from a jeweller!

Buy from Shoppe and get scammed?

330-280= 50

50/330= 15% i beg your pardon. No coffee yet.

That's the reason for my line : "Anyone who buys gold form jewellers as an 'investment' needs to get their head checked."

Nolah...back liao.
Kopi not in mouth yet. Brain no think.

Now please tolong our bro with his question on shops. Kamsiah.

Morning.

Well Said Bro Panjang!
Hopefully we will never experience a parabolic rise but a gradual rise of the useless yellow metal.
But looking at the banks going into stress, including the giants such as Credit Suisse, i am not surprised of anything.

No lah....recovering from flu.

Bro Unkerpanjang

When did you first invested in the useless yellow metal?

This post has been edited by prophetjul: Apr 1 2023, 09:17 AM

When did you start investing in the yellow metal?

As far as hotel rooms, i command these nasties to get out in my Lord's name.
No problems there.

Amen!
Lots of experience with these sort.
My Lord's name overcometh. No problem.

News Bites
Gold price keeps daily gains, trades well above $2,000 on weaker data

The gold market kept its daily gains on weaker data, finishing Tuesday's session up nearly 2% on the day — well above the $2,000 an ounce level.

Recent macro data, which pointed to a cooling economy, and a warning from JPMorgan CEO Jamie Dimon on the banking crisis triggered another rally in gold, pushing prices to 12-month highs.

June Comex gold futures closed at $2,038.10 an ounce Tuesday, up nearly $40 on the day.

Gold was reacting to a weaker dollar following a report showing U.S. job openings falling below ten million in February — their lowest level in nearly two years, according to the Job Openings and Labor Turnover Survey.

"The sharp fall in job openings in February shows that labor demand was cooling even before the recent banking turmoil and provides another reason to think that the Fed's tightening cycle is nearly over," said Capital Economics deputy chief U.S. economist Andrew Hunter.

Also, factory orders posted a second straight month of declines in February, down 0.7% after dropping 2.1% in January, the Commerce Department said on Tuesday.

According to analysts, all of this proves that the U.S. economy is slowing, increasing the odds of a potential rate cut later this year.

"After the dust settled today, Fed rate hike odds for the May meeting fell to a coin flip, while a rate cut is still getting priced in by the September meeting. If Wall Street becomes more convinced a recession will happen in the second half of this year, rate cut bets will grow," said OANDA senior market analyst Edward Moya.

On top of the data, markets were digesting JPMorgan Chase CEO Jamie Dimon's warning that the banking crisis was not over. "The current crisis is not yet over, and even when it is behind us, there will be repercussions from it for years to come," Dimon wrote in a 43-page annual letter.

Gold is now looking to approach record highs, and it might need more evidence of a slowing economy before that happens, added Moya.

"Gold investors now need to see further evidence that the service sector part of the economy is slowing, and that could help the big rally continue," he said. "Gold has its eye on record highs and that it might not take much to get there. If recession expectations continue to grow for the second half of the year, gold should have a path toward the $2,100 level."

Gold was not the only precious metal to rally. Silver May Comex futures were up nearly 5% on the day, trading at $25.18 an ounce, and platinum was up 3.46% on the day, with April futures last trading at $1,021 an ounce.

By

Anna Golubova
For Kitco News


Contact agolubova@kitco.com
www.kitco.com

Central bank gold buying update: 2023 sees the strongest start to a year in more than a decade

The gold market continued to receive support from central banks as countries kept adding gold to their reserves in February, marking the strongest start to the year since at least 2010, according to the latest data released by the World Gold Council (WGC).

Global gold reserves increased by 52 tonnes in February, rising for the 11th month in a row, the WGC said Tuesday. In January, central banks bought 74 tonnes of gold. And that follows record levels of last year, with 1,136 tonnes purchased.

Year-to-date, central banks' net purchases stand at 125 tonnes. "This is the strongest start to a year back to at least 2010 – when central banks became net buyers on an annual basis," said WGC's senior analyst Krishan Gopaul.


The biggest purchaser in February was the People's Bank of China, with 25 tonnes bought. This was the fourth monthly increase for China, during which the PBOC added 102 tonnes of gold.

The Turkish central bank bought gold for the 15th month in February, adding 22 tonnes to its reserves. Turkey was the largest gold buyer last year.

Also, the Central Bank of Uzbekistan added eight tonnes, Singapore bought seven, and the Reserve Bank of India added three.

The National Bank of Kazakhstan was the only net seller, offloading 13 tonnes.


The February data excludes newly revealed Russia numbers, the WGC added. Russia disclosed that it bought one million ounces (31 tonnes) of gold between February 2022 and March 2023.

"Based on the new information, gold reserves now account for 24% of Russia's international reserves," said Gopaul.

By

Anna Golubova
For Kitco News

It's useless till.................it becomes useful.
Look at bro wolves.

i will disappear if gold hits $5,000.
Before, i will enjoy the ride.