for now, looks like 2315 is the support, can't cross 2330... tight range.

probably stay around this level until some big news arrive.

USA last night report... low GDP growth, high inflation.

gold reacted unconvincingly... until maybe now...

think it has finally broke through 2330, no looking back...?

on the way to 2500, i hope.

have a good lunch!

$2336/RM359.

This post has been edited by AVFAN: Apr 26 2024, 10:19 AM

yesterday cud hv been a buying opportunity for some as it hit $2284/RM350 spot.

but it was a holiday. now, back to $2325/RM360.


from powell's comments last night, the key takeaway was he ruled out further rate hikes but rate cuts will be delayed for sure.

for now, with no significant geopolitical dev lately, price not dependent on rate cut but will get a big boost when it happens.

meanwhile, central banks were still accumulating in march, april data not available yet.

SG added 4 tonnes in march, i read. Malaysia... not in the action, RM not going anywhere, i wud think.

https://www.fxstreet.com/news/gold-price-ri...on-202405011741

This post has been edited by AVFAN: May 2 2024, 09:03 AM

yep, that too. ie... fiat money stays on longer!

Gold prices stabilized around $2,300 per ounce on Friday after falling to almost a 1-month low of $2,282 earlier in the session as investors took advantage of higher valuations and booked profits despite weaker-than-expected labour data in the US.

$2301/RM351.

think it's going sideways for a while. get out now if u duwan to hold mid/long term!


meanwhile, this may hv a serious impact on the RM:
https://www.thevibes.com/articles/news/1018...es-on-sanctions

after going sideways for a week, the glitter is back!

us unemployment data raised hopes on rate cuts.

$2369/RM361.

it is now 2.7% away from record high of $2431.


many things are at all time high now... us stocks, eu stocks, hong kong stocks... even bursa!

cocoa, coffee, orange juice rice also at or near all time highs.

charkoayteow, wantan mee, chicken rice prices also high... our RM isn't very worth much these days.

hv a nice weekend.

This post has been edited by AVFAN: May 10 2024, 03:04 PM

$2396/RM360.

$2414/363.8

Therefore, the most likely scenario is that XAU/USD might test the all-time high of $2,431. Once cleared, the next stop would be the $2,450 mark, followed by the psychological $2,500 figure.

For the record... all time high this morning 9.10am - $2440.51/RM367.70.

shud be, by fri... maybe even tmr!


good reading:

https://finance.yahoo.com/video/gold-global...-040100185.html
https://www.gold.org/goldhub/research/gold-...d-flows/2024/05
https://news.bitcoin.com/economist-jim-rick...orous-analysis/

after >1 month, time to awaken this thread!

Gold gathers pace to retest all-time high at $2,450

now $2442/RM367.

not so long!

new record high $2469.

now $2467/RM371.

enjoy!

well done.

the best chance to buy was in early oct last year - that wud give +30% now.

but selling already, so fast?

not waiting for $3000/oz or RM500/g?

as central banks start to cut int rates, gold price cannot drop.

on the other hand, good chance it rises even more when other central banks resume buying after a pause.

buy, sell, hold... all the best!

if u accumulate say 2kg now, u can be quite rich when u live yr final few years with 1g (RM360 today's money) a day!

no worries at all about inflation.

if yr spread is low enuf, can trade.

just be careful not to overtrade.

gold is generally for long term holding as wealth protection, not for small players to trade for quick gains.

if u dun need to sell, keep it for long term.

after 10, 20, 30 yrs, come back n tell us.

This post has been edited by AVFAN: Jul 19 2024, 09:48 AM

1g a month is surely too slow.

but if u hv more money, that is the question, isn't it - should u save in gold or UT or stocks or go buy a house?

of course, if u hv enuf, do all la...

that is what most people will do over a long period, with a personal preferred pecking order.

most likely to be dictated by amount available, risk aversion attitude, age.

some will go big into cepat kaya schemes while others save all in EPF.

in the middle lies the the most common behavior - a calculated personal portfolio of mixed assets.

if u can keep to this commitment, almost certain u won't go wrong.

can ask prophetjul to retell his 30 yr experience!

my case is a bit like his but on a smaller scale, a shorter time period.

perhaps gen z were quickest to figure out what the decades of QE and infinite amount of fiat money will do in the coming years/decades.

my personal view is both paper gold and ETFs are quite safe.

ETFs... how sure are you that the physical gold is still there?!!

even country gold reserves numbers for USA and China are disputed by some - USA no. is too high, China no. too low!!??

gold price been bouncing around for the last 10 days or so... cut, no cut, cut, no cut...


tonight might see the end of this uncertainty:

At the conclusion of Fed’s two-day meeting later on Wednesday, expectations are that the U.S. central bank will hold rates steady and policymakers will lay the groundwork for a September rate cut.

“The market wants to hear a confirmation that a September cut is on the cards and it will be the beginning of a policy easing cycle. Gold will rally if the Fed language indicates that multiple cuts are coming,” said Kyle Rodda, a financial market analyst at Capital.com.
https://www.cnbc.com/2024/07/31/gold-prices...ed-verdict.html



now $2416/RM358; CME futures $2456.

let's see tmr morning!

it was quite chaotic yesterday, last night.


what made the RM strengthened 5% over a week or so has not been explained well, as far as i read.

exporters frantically bringing back their $ hoarded outside? is it done, has it overshot?

now that it is clear US fed will start cutting int rates, 50bps in sep, they say... +2 more cuts by yr end?

spot gold spiked to 2470; profit taking drove it back down to 2440.

add the specter of a wider conflict in middle east & major equity markets pointing to a serious slowdown.

give it a couple of weeks, let things settle down, then we know better.

imo, a matter of weeks if not days to hit a new record high.

$2500 isn't far away, aim for $3000!

RM... let's see if it can hold at 4.50 or dwindle back to 4.6.

This probably caused gold price to spike tonight after declining last night:

On the economic front, both housing starts and building permits in the US fell to four-year lows in July, signaling that restrictive monetary policy may be having a larger impact on the outlook of housing supply.

$2496/oz, RM356/g.

RM appreciated 6% or so in the last month.

If exchange rate had stayed 4.70, itvwud be RM376.

Well, can't win all!

Speculators boosted their net-bullish bets on Comex gold futures to a near four-year high in the week ended Aug 13, Commodity Futures Trading Commission data showed. Meanwhile, gold holdings in exchange-traded funds have risen in recent months following a couple of years of outflows, data compiled by Bloomberg showed.
https://theedgemalaysia.com/node/723180