RM317.06 x 31.1 g = RM9860

Means what?

So RM317 is for bars?

That's spot gold price.

Yeah. It is spot gold price that.

THAT is what i did in 2002 and 2008.

Buy the correction.

Another record high at $2,150.90

Looking back from $2,150

Gold has pulled a small trigger before the Feds.
Even the gold analysts are scratching.

https://www.kitco.com/news/article/2024-03-...ng-explanations

Has gold jumped the the easing gun?

Like me friend yesterday. I told him to buy a 10oz Aussie nugget in 2004 for probably RM15,000. He made 80% gains in a year or two. Sold it for around 20k+. NOw regretting like mad.

In anticipation of easing, like me.

My only advice in 2002/3 to me friends was: Gold will outperform your FD in the long term. That's all.
So it has proved to be as gold returned 11.5% CAGR over the last 21 years in MYR terms. Much better than FD.

I still think so with all the money printing today. The caveat is you have hold it long term. If you try to time and trade, that is a different story altogether,
My feeling is it will go higher after the Feds ease. Of course not in a straight line.

Every morning is with GOLDEN sunshine past week.
When Feds ease. means the economy and business activities can pick up again, and therefore commodities are in vogue again.

And you too mate!

Update. $2168.

This post has been edited by prophetjul: Mar 8 2024, 05:26 PM

Record high gold price stamped $2,195.20

https://www.kitco.com/news/article/2024-03-...ng-record-highs

https://www.msn.com/en-my/news/national/tho...ededf098f&ei=29

Thousands cheated out of estimated RM20mil by gold investment scam

PETALING JAYA: Businessman Rifqi Abu Bakar thought he was onto a good thing when he saw a scheme that offered high returns of 14% to 21% per month.

But it was too good to be true.

Although he managed to withdraw several thousand ringgit, he still lost RM32,000 to a syndicate said to have cheated thousands of an estimated RM20mil.

The syndicate used a bank account, which was registered under the name of a suspected drug addict, to collect the money.

It lured thousands of people into a non-existent gold investment scheme it promoted on a crowdfunding and welfare smartphone app.

The investors, who were drawn by the promise of high returns under the scheme known as Mudah Trading, were left in the lurch last month when the scammers disappeared barely a year after starting the business.
It is learnt that apart from retirees, businessmen, teachers and students, even police personnel had fallen victim to the scam.

Unlike other such scams where syndicates use multiple bank accounts to receive payments, this one took cash deposits from the victims into just a single bank account.

The victims made investments as low as RM100, but there were dozens who had increased the sum to over RM100,000 after being persuaded to do so.

Rifqi said he had fallen for the scam because the app operator was popular and known for undertaking charity work.

“I clicked on a pop-up advertisement on the app and was linked to a WhatsApp group where I received information on the investment.

“It was too late when we found out that the app operators had nothing to do with the scheme.

“We estimate the syndicate has taken at least RM20mil,” said Rifqi.

He started investing small amounts in October last year before increasing the sum after receiving the promised returns.

However, last month, the investors were unable to make withdrawals.

“We checked with the Companies Commission of Malaysia and found that the company OID Solution was registered as a sole proprietorship under the name of a 34-year-old man in March last year,” said Rifqi who lodged a police report two weeks ago.

Police revealed the bank account was registered to a man who has a record for drug abuse and drug-related offences.

Last time, Genneva Gold already made so many suckers. Now, same thing happens.

Slight correction to beat out the weak hands.

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$2233