Emas 24K – Independent Gold™


4th June 2012

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Interest in the precious metals has waned in recent months and as a result prices have been range bound. Although further weakness would not be a surprise, lower prices are expected to attract bargain hunting.

Gold prices have tracked sideways in a $70/oz range either side of $1,650/oz. Downside spikes suggest good underlying buying.

Prices have struggled to get much lift even though the dollar has been weak.

The range bound market is also attracting less fund interest with both the long and the short positions reduced.

Prices are under pressure, but given all the uncertainty in the markets underlying support is expected to be strong.

Technical – The uptrend line on the daily chart puts support at $1,630/oz, whereas on the weekly chart, the long term uptrend line puts key support around $1,614/oz. The recent failed upside break above the resistance line around $1,660/oz suggests prices may well retest underlying support again. The turn down in the stochastics supports this view too. Overall, we would not get too bullish for Gold until prices move back above $1,700/oz, while on the downside we would get increasingly bearish as each support level is breached – these are at $1,630/oz, $1,623/oz, $1,614/oz and $1,612/oz. A drop below the latter is likely to prompt a fall back towards to lower blue horizontal line, which is at $1,522/oz. That said, moves below $1,550/oz may well turn into spike.


Market Commentary
Overnight saw a return of investor risk taking which had all assets higher overnight. Opening higher at 1656.25/1657.25, gold settled into range bound trading for the session. Reaching an intraday high of 1662/1663 shortly after the open, light profit taking then took the metal to its intraday low of 1646.50/1647.50 late in the session. Gold closed the day soon after at 1650.75/1651.75.

Technical Commentary
A more positive day for gold, but it remains well within its three week range. Technicals are fairly neutral, but most are starting to hint that there is building positive momentum. A break and close above the 100- day moving average of 1665.52 would be encouraging to bulls as would the crossing of the 9-day MA above the 21-day. Considering the
broader market environment we would not be surprised to see gold rally back towards $1,700.

 

TECHNICAL ANALYSIS


Pivot – USD1,650.59

Primary Support (Buy) – USD1,639.14

*BUY = Buying more Gold to Maximum your investment.

Primary Resistance (Sell) – USD1,665.42

*SELL = Selling your GOLD investment to gain Profit.


Market Commentary
Gold eased overnight, opening at 1621.25/1622.25, before settling into a tight range following mixed economic data. After trading to an intraday high of 1626.50/1627.50, the metal slipped down to a low of 1603.50/1604.50 as equities and base metals retreated. A steady recovery throughout the afternoon took us to a close of 1613.00/1614.00.

Technical Commentary
Gold is completing its fourth consecutive down day at current 1620. This latest move has travelled from 1694 to 1604 so far. We see initial support at 1596 from the October low, and then 1538 from the September low. We are bearrish while the metal holds below key Fibo level at 1684

 

TECHNICAL ANALYSIS


Pivot – USD1,629.52

Primary Support (Buy) – USD1,593.80

*BUY = Buying more Gold to Maximum your investment.

Primary Resistance (Sell) – USD1,655.08

*SELL = Selling your GOLD investment to gain Profit.


Why Gold prices fell sharply along with Silver in September 2011??

Prices are now consolidating at higher levels, but the outlook is mixed, we still favour Gold and Silver!

  • The rally in the dollar is a sure sign of a pick-up in safe-haven buying – we think Gold will benefit from this now the initial sell-off has run its course.
  • The EU debt crisis looks set to come to a head soon – when it does the fall-out is likely to be bullish for Gold.
  • The net long position in Gold has fallen significantly – the market no longer looks overcrowded.
  • If Gold heads higher again, then Silver may have a lot of catching up to do – the Gold/Silver ratio is last at 1:51.

GOLD PRICES CONSOLIDATE AFTER A 20% CORRECTION – NEAR TERM UPSIDE FAVOURED.

Gold prices peaked at $1,921/oz on 6th September, they have since undergone a significant correction that took prices down to a low of $1,532/oz – a drop of 20%. Prices are now consolidating around the $1,650/oz level. The bears who had viewed Gold as a bubble market now probably feel vindicated. However, while we can see why some longs needed to take profits, we also feel that the arguments for holding Gold remain strong. Therefore we expect further price gains in the months ahead – although the next run higher might also signal the beginning of the end of this phase of the bull market.

THIS TRADING PATTERN HAS BEEN SEEN BEFORE.
We would say Gold is just repeating the pattern we have seen many times over the past decade, whereby a broad base sell-off initially carries Gold prices down as liquidation selling overwhelms the safe-haven buying. The secondary reaction is then to see safe-haven buying dominate again. Indeed, given we have noticed this pattern, others will have too, so safe-haven buyers probably now know it is best to wait a while – let prices really sell-off before buying again. The spike lower in prices on 26th September was caused by another hike in margin rates, which no doubt forced even more long liquidation – but that may well have now got the last of the weak longs out. However, after the volatility and with a far from perfect chart picture, buyers seem to be in no rush to return. There has been some buying, which has lifted prices $120/oz off the sell-off low, but follow through buying has yet to emerge.


AFTER 2 YEAR INACTIVE! Gold Independence Trader is back.

Previous Post: I am away from gold update!
Posted by: swissgold on: November 22, 2009

During time year back November 2009, the gold 999.9 price at USD$1,130.00 per Oz, TODAY October 2011 after two year the price move Higher at USD$1,630.00. The different is USD$500, meaning thats the gold investor gaining USD$250 per year, per Oz (31.1gm) Gold Coin. If converted to Malaysia Currency from USD$500 x RM3.10 = RM1,550 PROFIT gain for two years. Hurmmm…i wonders how much PROFIT is for 2 Kilo’s Swissgold in my vault? hehehe

NEW UPDATED WILL BE ARRIVE IN 30 MINUTE FROM NOW!


Thanks for your support and kindly please continues to visit our website,

i am away from gold update due to concentrate on my tight job schedule.

I will came back later for the analysis and update.

Good bye for now…see yeah soon.

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Market Commentary
Gold opened on it lows at 1136.75/1137.75 and ticked higher on the back of rallying equity markets and weaker USD, finding resistancenear 1144.00. Light profit taking dragged the metal lower. Support was established around 1138.00 and it later turned bid as investor demand carried it back above 1140.00 usd/oz. The buying continued during the latter end of the session, peaking at 1147.50/1148.50 and finally closed at 1146.25/1147.25.

  

Technical Commentary
Gold is closing the week near its highs at 1149. This is the third up week in a row in a wave that started at 1027. The metal has been as high as 1153 and our measured target remains 1188. Higher highs and higher lows keep our attention to the topside. This week’s low of 1123 is seen as a support level.

 

 

TECHNICAL ANALYSIS


Pivot – USD1,144.06

Primary Support (Buy) – USD1,137.77

*BUY = Buying more Gold to Maximum your investment.

Primary Resistance (Sell) – USD1,155.19

*SELL = Selling your GOLD investment to gain Profit. 

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Retail Gold Price (October 2011)

Federation of Goldsmiths Jewellers Association of Malaysia (FGJAM)

999 Gold    :      RM200.00/gm
916 Gold    :      RM189.00/gm

835 Gold    :      RM1792.00/gm
750 Gold    :      RM155.00/gm
375 Gold    :      RM 84.00/gm


updated on 21 Oct 2011.

UOB Malaysia Gold Price

UOB Malaysia Gold Price

UOB Singapore Gold Price

UOB Singapore Gold Price

Indonesia Fine Gold Price

Logam Mulia Gold Price

Maybank Gold Saving 2009

DATE
SELL (RM/g)
BUY (RM/g)
13-Nov-2009
122.87
117.77

Kijang Emas 2009


Kijang
            Emas

FRIDAY 13 Nov 2009
Size Sell  Buy
1 oz (31.1gm) 3,884 3,653
1/2 oz (15.5gm) 1,979 1,827
1/4 oz (7.77gm) 1,008 913
 

Public Bank Gold Saving 2009

DATE
SELL (RM/g)
BUY (RM/g)
13-Nov-2009
123.37
118.57

Kelantan Gold Dinar 2009

DATE
SELL (1dinar)
BUY (1dinar)
13-Nov-2009
521.00
465.00

Public Gold 2009

 Size PG Sell PG Buy
20gm RM 2,703 RM 2,541
50gm RM 6,726 RM 6,356
100gm RM 13,389 RM 12,720

Retail Gold Price (Nov 2009)

Federation of Goldsmiths Jewellers Association of Malaysia (FGJAM)

999 Gold    :      RM142.00/gm
916 Gold    :      RM134.00/gm

835 Gold    :      RM122.00/gm
750 Gold    :      RM110.00/gm
375 Gold    :      RM 59.00/gm


updated on 05 Nov 2009.

Retail Gold Price (Sept-Oct 09)

999 Gold    :      RM135.00/gm
916 Gold    :      RM127.00/gm

835 Gold    :      RM117.00/gm
750 Gold    :      RM105.00/gm
375 Gold    :      RM 57.00/gm


Retail Gold Price (May-Aug 09

999 Gold    :      RM130.00/gm
916 Gold    :      RM122.00/gm

835 Gold    :      RM112.00/gm
750 Gold    :      RM101.00/gm
375 Gold    :      RM 55.00/gm


Retail Gold Price (April 2009)

999 Gold    :      RM125.00/gm
916 Gold    :      RM117.00/gm

835 Gold    :      RM108.00/gm
750 Gold    :      RM 97.00/gm
375 Gold    :      RM 53.00/gm


Retail Gold Price (March 2009)

999 Gold    :      RM130.00/gm
916 Gold    :      RM122.00/gm

835 Gold    :      RM112.00/gm
750 Gold    :      RM101.00/gm
375 Gold    :      RM 55.00/gm


Kitco Gold Spot Price



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