Emas 24K – Independent Gold™

Gold Monthly Review – JULY 2009

Posted on: July 21, 2009


Gold’s rally ran out of steam before rechallenging $1,000/oz, prices are now correcting.

· Physical demand remains depressed and it may take lower prices to prompt buying, however, there may be considerable pent-up demand.

· The dollar’s slide has run into support and even a slight rebound in the dollar has already started to weigh on Gold prices.

· ETF and fund buying have also slowed, so Gold is having to absorb some less than bullish developments.

· Gold is consolidating and prices may dip further, before heading higher again. We remain bullish over the medium term.

Technical – Gold is looking vulnerable
The strong rally from $865/oz in April to the June high at $990/oz has paused and prices are now either consolidating before embarking on another up leg, or else are about to break lower. On 12th June prices broke through the neckline of a head and shoulders pattern, the target generated by this pattern suggests a possible move down to $896/oz. Since breaking below the neckline, prices have returned to test the neckline twice, but have not managed to close above it. On the downside prices were finding support around the 100 day moving average at $928/oz, but have now pushed lower. This increases the danger that prices are rolling over to the downside, having traded sideways over the past two weeks. On the upside it maybe that prices are building a higher base from which to attack the $1,000/oz area again, but it would take a close above the neckline at around $950/oz and a move up through resistance at $965.40/oz to make Gold look bullish again.

Summary – Gold prices are consolidating after their failure to overcome the $1,000/oz level, which has prompted some profit taking. However, the big picture outlook for Gold remains bullish and it is interesting that the gross fund short position has been falling during the recent price weakness. Overall, we feel that strong performances in other asset classes have seen some money switch out of bullion, but it could easily return. With industrial metals and equities still thought to be undergoing bear- market rallies, it would not be surprising to see safe-haven buying return to Gold once a correction in equities gets underway. However, our main reason to remain long term bullish is the prospect that competitive devaluation amongst numerous hard currencies will lead to further trouble for the financial markets. This is likely to keep interest in Gold running at a high level. As such, we would see any sell-off in Gold as a medium term buying opportunity.

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[Most Recent Quotes from www.11.com.my]

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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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