I'm selling short GLD ETF

Of course more risk involved, will adjust limit along the way to limit risk

hahah gold going down means the big money herd flows back to equities...im also pumping back my capital to some balanced unit trust fund...lucky cashout before those bloody october global correction....

This post has been edited by max_cavalera: Nov 5 2014, 10:50 PM

I topped up during October correction, didn't sell anything

Gold short only up about 2.3% so far, lets see where it goes

Paper money is just a central bank "I Owe You" note... some country with lotsa IOU note will want to convert it to gold(real value) when the price is "ripe". That will push the price up.. but I doubt it will be significant upwards move. They dont want to make the price shot up so sudden before they can clear the "paper"..

“Gold is overvalued to silver,” Yoni Jacobs, the chief investment strategist at Chart Prophet Capital, said yesterday in a telephone interview. “It looks like gold could fall more. People are realizing it is not a good investment when the equity markets go up and as the dollar is getting stronger.”

Silver has outpaced gold’s declines since the end of 2012, falling 49 percent through yesterday, while gold dropped 32 percent.

http://www.bloomberg.com/news/2014-11-06/g...ore-losses.html

Safe to bet gold will drop by a further 20%.



This post has been edited by icemanfx: Nov 6 2014, 03:03 PM

Gold now doing 1143, recovered a few points from low of 1137 yesterday. Same for Crude Oil and USD, both also recover a few point from yesterday's low.

http://www.bulliondesk.com/gold-news/focus...s-socgen-84645/

Several lawmakers have urged Bank Negara to probe operations of a local gold investment company in Sarawak and Peninsula Malaysia that has been blacklisted.

Julian Tan (DAP-Stampin) said that he had received complains from several individuals who had invested with the company (Global Peace Loving Family).

"Several investors, mainly senior citizens, have invested thousands of ringgit with the company.

"There are now worried of losing their life's savings,” he told reporters at Parliament lobby during a press conference Thursday.

The company, he said, is operating nine offices in Sarawak with five in Peninsula Malaysia assured investors RM56,000 in returns after two years via payment of a RM3,000 membership fee and investments.

Alice Lau Kiong Yieng (DAP-Lanang) said she was approached by the company with promises of financial help for her long-house community projects if she endorsed it.

However, she said she refused to do so after querying further as to its financial ability to assist in the project.

Meanwhile, Lim Lip Eng (DAP-Segambut) called on the authorities to investigate the company as it has been blacklisted by Bank Negara.

He said the company would seek patronage of local VIPs and politicians for their events in a move to attract more investors.

"We don't want a repeat of the YSLM case where the founder was allowed to leave the country only to be arrested in Thailand recently after operating for two years," he said.

He urged those who have invested to come forward to lodge a report with the authorities if they have been duped.

For Uob bank gold investment a/c, the requirements include a savings a/c, is Basic Savings a/c meets the requirements to invest?

Yes, when I register my UOB Gold account, they setup the basic saving account for me which is a must.

Thanks, is the a/c come with atm card ？how much r they charging? Any online banking facility with the basic savings a/c?

Anybody heard of Emas Harimau?

Gold doing 1147 now, attempting to recover lost ground but is faced with heavy lifting, same for Crude Oil & USD

Is the a/c come with atm card ？
Yes.

how much r they charging?
Forgot already but it is quite standard for all banks. All ATM Debit Card will have an annual fee. Very cheap only. The most I think RM20.

Any online banking facility with the basic savings a/c?
Yes, it is available.

thats it. not gonna buy anymore.
at least until the end of the month

so tempting ley the price

Given gold price is unlikely to recover to previous high in the next few years ; those bought gold previously, unless accept losses else will throw good money after bad.

then what profitable investment shall thy invest thee?

still a lot better than holding ringgit imho

how many time want to say already gold is not an investment
want to invest go invest lar, ppl say USD stocks rlly on hi ride or something, with the right entry n exit strategy, could get some profit.
but i personally doubted it because stock market can be manipulated
but then again, i could be wrong.

Gold doing 1140 now, market seems to be taking a pause, undecided where to go

Those who bought paper Gold many years ago.. mah have a lot of floating loss now?