More reason for it to go down

Gold at 1-week low as hopes rise of more rapid economic recovery

BENGALURU (Nov 19): Gold retreated to a one-week low on Thursday as encouraging developments relating to Covid-19 vaccines have raised hopes of a more rapid recovery in the global economy, even as new coronavirus cases continued to rise.

Spot gold fell 0.4% to US$1,863.12 per ounce by 0759 GMT, having earlier hit its lowest since Nov 11, at US$1,857.16, putting it on course for a second straight weekly decline.

US gold futures slipped 0.6% to US$1,862.30.

https://www.theedgemarkets.com/article/gold...onomic-recovery

If Covid gone and everything go back to normal, why gold will go up instead?

Because brrr.money can still happen.

Read more: https://www.lynalden.com/reasons-to-buy-gold/

Gold dips as Mnuchin recalls pandemic-related funds

BENGALURU (Nov 20): Gold prices fell on Friday after US Treasury Secretary Steven Mnuchin called for an end to some of the Federal Reserve's pandemic lending, sparking uncertainty about stimulus programmes that have played a key role in reassuring financial markets.

Spot gold slipped 0.2% to US$1,864.54 per ounce by 0359 GMT and was headed for a second week of decline. US gold futures were up 0.1% at US$1,863.80.

"If the Fed does start shrinking its assistance programme that could be a bit of headwind for gold again... The monetary debasement argument that has supported gold could weaken," said Lachlan Shaw, National Australia Bank's head of commodity research.

https://www.theedgemarkets.com/article/gold...icrelated-funds

I'm doing an experiment with Gold and rebalancing. 50 50 in Maybank gold, I'll keep rebalancing for 3 years and let you guys know how it goes. Rebalancing every 6 months.

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

Since it even broke below crucial 200 days MA and 1800 psychological support, we might see it touch and hover around 1750, better monitor first for now, good time to load up

This post has been edited by oOoproz: Nov 29 2020, 03:38 PM

which bank is best for buying gold?

Find the one with low buy/sell spread.

what about the stamp duty or brokerage

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

Gold price expected to drop until 1700. Do u still buying or wait until lowest price?

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

can gold account open online or must go to the branch?

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

For other banks, I'm not sure.

I agak agak think it depended on some of these too...
How long duration do you expects it will takes to go to 1700?
Will you expects it to be a fash free fall to 1700 or it will still be in a range between 1730 to 1800 for some times before finally reaching 1700?
How long do you expects it to stay in 1700?
If it can go down to your expected 1700, will you expects it to go down lower again?
What is your expectation of the myr movement?
Etc, etc

Gold drops another USD 15:

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

Just start use CIMBclick to invest in Gold yesterday.

How was the experience? Easy to navigate?