Emas 24K – Independent Gold™

Prediction: Gold will hike 3rd attempt to USD2,000

Posted on: June 4, 2012


4th June 2012

Image

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.

3 Responses to "Prediction: Gold will hike 3rd attempt to USD2,000"

up up away…

lama tak nampak encik semezer, yup..down trend dahulu, sebelum nak naik up up away…😉

Biasalah bro..hehe..lama jgk xbeguru ni..

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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

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Maybank Gold Saving 2009

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

Kijang Emas 2009


Kijang
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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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