This USD2k level is very strong resistance.

I guess we need another regional bank panic to sail.above it.

This post has been edited by Cubalagi: Mar 25 2023, 08:48 AM

Another good reason to keep some gold

https://www.theedgemarkets.com/node/661420

In this case, this was just a reporting of what was discussed in our parliment. A question by Johari Ghani and response by DFM Ahmad Maslan. Not an opinion piece or an article. U can find similar news in other papers, but Edge reported it more fully I thought.

Taylor not good eh?

This post has been edited by Cubalagi: Mar 31 2023, 04:29 PM

USD2050 in sight now.

Yup..useless & bad investment

Only provided a return of 600+% in past 20 years 😆

Yup, this is my preferred way.

* from EPF thread

This post has been edited by Cubalagi: Apr 5 2023, 10:35 AM

I think its only too late if you are close to your death bed 😆

But I guess you are a bit worried of buying gold at historic peak price. I think that is a fair concern, because there is very strong resistance at current price level using the technical charting terminology. Im not much into technical charts, and I dont really pay too much attention to them (but maybe I should!).

Now, my observation of gold price behavior is that before a financial crisis or bad recession, gold will start to move up. It seem like gold can sniff trouble ahead.Then when the crisis or recession starts, gold price will dip. This dip is for a short while, soon gold will recontinue up to higher highs before it losses steam.

I think gold is currently is in the first stage and it will go much higher. Personal opinion only and please doubt me.

For what you call digital or other people call paper gold, u have 2 basic "safe" options

1. Open a gold account with a Bank. Many Malaysian banks offer this.

2. Buy a Gold ETF

ETF stands for "Exchange Traded Funds". It means two things. The investment is in a fund that invest in gold. The second is the fund is tradable on a stock exchange like NYSE, SGX, Bursa Malaysia.

The advantage of ETF is that the buy and sell spread is very narrow. So its good if you are more active in buy and sell. The disadvange is that there are annual management fees and trading charges and forex costs for offshore trading.

There are also many gold etfs, not just one, in the world. The grandaddy is called GLD which is in NYSE (but also cross listed in Singapore Exchange). There is also a Malaysian Gold ETF listed in Bursa Malaysia if you prefer to buy using MYR (save on forex) and is more comforted by the regulatory protection by Malaysia authorities.

To access ETF, you need a brokerage account. It can be a local Malaysian broker or an offshore broker. Its the same account that you open when you want to buy stocks.

There is also another channel now to buy sell Gold ETF, using the so called digital investment platforms Like Stashaway. Or Versa. These platforms also buy into gold etf.

This post has been edited by Cubalagi: Apr 6 2023, 12:00 PM

I think its very promising that gold has managed to stay above USD2k since early this month.

This post has been edited by Cubalagi: Apr 13 2023, 07:50 PM

Maybe new low of MYR vs gold? 🤔

Gold will drop, but usually wont drop so much as govts will be forced to stimulate and expand money supply.

Agree with u there on the DXY correlation. Its already quite proven.

I dont really trade, so dont really track DXY often.

Long term both gold n usd has outperformed MYR strongly. So its good to hold both long term.

However, nowadays USD is bit more ummph as can get more than 4.5% yield.

This post has been edited by Cubalagi: Apr 19 2023, 03:46 PM

Dip a short while below 2k now back above 2k.

Im still bullish on this useless metal.

the US debt ceiling fight coming up and it could turn into a nasty one, which is good for gold n bad for USD.

US recession indicators are also flashing

Russia Ukr still not resolved.

This post has been edited by Cubalagi: Apr 21 2023, 12:09 PM

Biden white house is in the "we dont negotiatie.with terorirst mentality" on the debt ceiling. Let see who blinks first. October will be the debt ceiling armageddon.

So leverage 10x. Pay 10% upfront, get 100% benefits. No margin call if gold goes down. 3.5% management fee annually.

I have several concerns. Does the gold exist? If it does, where is it kept? Under whose name?

How does the company finance the 90%? Do we have the company audited financial statements.and annual report?

See if can answer these questions first.

There are legit ways to buy gold on margin. Eg Buy Gold Futures at COMEX exchange. U get 20+x leverage.

But i personally dont trade futures. So if I uber bullish gold, i will most likely buy Silver or gold mining stocks.

If you are unsure, you can buy in smaller amounts.

Gold is a portfolio hedge against uncertainties and bad govt policies. I keep between 5%-15% of my portfolo in gold.

Default position is 10%. So lets say gold rally up 50% in MYR. That will make gold 15% of portfolio. N say I decide to take profit. I might sell half my position. Then say lucky gold drop 20%, my gold position will be at 6%. I might then pump it up back to default 10%. Assuming everything else being equal.

I use ETF so its possible to make large moves due to thin spreads.

US debt ceiling deadline could be 1 June 23 according to Yellen.


https://abcnews.go.com/Politics/us-default-...ory?id=98996005

9 May, White House to meet congressional leaders for first time on this. Lets see who blink first, WH or GOP.