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Thread: Gold price hitting US$1600 per ounce

  1. #1
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    Default Gold price hitting US$1600 per ounce


  2. #2
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    Now that gold have peaked at 1600 an ounce, any good gold smith shop
    that offer high trade-in for Cash

    Thank

  3. #3
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    Its still not peak yet

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    Gold price is above US$1600 now.

    China is experiencing high inflation, US will start its stimulus programme again. Since Singapore imports lots of goods and labour from China, our costs will continue to go up. Interest rate tied to the US seems to remain quite low for the next 1 year. Our government has started to raise prices in sectors that it is controlling - energy (electricity), transport (fares, COEs and ERPs) and labour (foreign workers levy) - to counter inflation as it is a monopoly.

    With HDB struggling to catch up with its construction, it will compete for resources with the private sector over the next 2-3 years, even in the face or increasing material and labour costs. I would expect continous upward pressure on property prices. 2H 2012 onwards may see owners and developers sitting on empty units (in fact you can see some of them now), much like in first-tier Chinese cities.

    But I'm expecting goverment to quietly relax immigration policy again in 1-2 years' as I see that many businesses are suffering from lack of manpower.

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    It is quite obvious that FT gate will be reopen slowly with both ex MM Lee and Tony Tan highlighting this point recently.
    Quote Originally Posted by hyenergix
    Gold price is above US$1600 now.

    China is experiencing high inflation, US will start its stimulus programme again. Since Singapore imports lots of goods and labour from China, our costs will continue to go up. Interest rate tied to the US seems to remain quite low for the next 1 year. Our government has started to raise prices in sectors that it is controlling - energy (electricity), transport (fares, COEs and ERPs) and labour (foreign workers levy) - to counter inflation as it is a monopoly.

    With HDB struggling to catch up with its construction, it will compete for resources with the private sector over the next 2-3 years, even in the face or increasing material and labour costs. I would expect continous upward pressure on property prices. 2H 2012 onwards may see owners and developers sitting on empty units (in fact you can see some of them now), much like in first-tier Chinese cities.

    But I'm expecting goverment to quietly relax immigration policy again in 1-2 years' as I see that many businesses are suffering from lack of manpower.

  6. #6
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    Good chance tt US n EU companies relocate to Asia to tap e growth, as their own economy languishes. Afterall Asia is in need of infrastructure development, n e governments may increase investments there to promote GDP growth. US n EU companies can provide e technologies.

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    Gold is hitting USD $1670. Interest rates have been lowered in Switzerland:

    http://forum.channelnewsasia.com/viewtopic.php?t=450234

    We are in the era of $ printing and currency devaluation.

    Better grab some hold of some gold and property (40% downpayment)

  8. #8
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    Quote Originally Posted by hyenergix
    Gold price is above US$1600 now.

    China is experiencing high inflation, US will start its stimulus programme again. Since Singapore imports lots of goods and labour from China, our costs will continue to go up. Interest rate tied to the US seems to remain quite low for the next 1 year. Our government has started to raise prices in sectors that it is controlling - energy (electricity), transport (fares, COEs and ERPs) and labour (foreign workers levy) - to counter inflation as it is a monopoly.

    With HDB struggling to catch up with its construction, it will compete for resources with the private sector over the next 2-3 years, even in the face or increasing material and labour costs. I would expect continous upward pressure on property prices. 2H 2012 onwards may see owners and developers sitting on empty units (in fact you can see some of them now), much like in first-tier Chinese cities.

    But I'm expecting goverment to quietly relax immigration policy again in 1-2 years' as I see that many businesses are suffering from lack of manpower.
    You mean I will be the only person staying in a block? Gasp!
    Yee ha! Did I tickle your funny bone?


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    Quote Originally Posted by ecimbew
    You mean I will be the only person staying in a block? Gasp!
    That was almost what happened to the HDB blocks in Jurong many years back. The same might happen to pte properties in 1-2 years' time. If you drive along Orchard Road now, it is not difficult to find these relatively empty new condos. But prices are not falling thanks to low interest rates, which is likely to remain low for 1 more year.

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    Gold is moving towards US$1700 per ounce. Fund managers, SWF and central banks could be rebalancing their portfolios into gold and other strong currencies. Good for our dollars, properties and wealth managers here. Not so good for manufacturing and export business for the next few years. I should have studied finance and not engineering

    http://silver-and-gold-prices.goldpr...ld-prices.html

  11. #11
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    Finally surpassed US$1700. A lot of fear in the stock markets now...

    Enjoy some articles from Forbes website:

    http://blogs.forbes.com/greatspecula...credit-rating/

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    Wow should have bought it 2 weeks ago!
    Yee ha! Did I tickle your funny bone?


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    Gold hit USD1700 now.
    Quote Originally Posted by ecimbew
    Wow should have bought it 2 weeks ago!

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    Default Gold claims "safe haven" title yet again

    http://online.wsj.com/article/SB1000...googlenews_wsj

    By TATYANA SHUMSKY

    After last week's slip, gold reclaimed its title as the ultimate safe haven.

    Gold got caught in a market-wide downdraft Thursday, as investors sold profitable gold holdings to cover losses in other assets, giving the precious metal a black eye. But Standard & Poor's decision late Friday to cut the U.S. government's credit rating restored gold's reputation as a haven whose risk profile is unblemished by political wrangling, excessive debt or central-bank interventions.

    S&P's move helped propel gold futures to a record of $1,720 a troy ounce Monday, up more than $60 from Thursday's settlement. The contract for August delivery settled up $61.40, or 3.7%, at $1,710.20 a troy ounce on the Comex division of the New York Mercantile Exchange.

    The sharpest gains came as equity markets faltered, with gold spiking to record levels in after-market trading moments after the Dow Jones Industrial Average dropped 600 points.

    Gold has held up as a bastion of safety this year, gaining more than 20% while stocks are deep in correction territory. And such protection is in high demand amid an uncertain economic outlook for the U.S. and globally and a strained European sovereign-debt market.

    "You're going to see additional allocation to gold as the fiscal problems in developed countries that led to [recent market declines] are not going away anytime soon," said Ross Koestrich, iShares Global Chief Investment Strategist at BlackRock. "It is one of the few safe-haven assets left."
    Yee ha! Did I tickle your funny bone?


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    One day it will come crashing and u will live to regret.....

    It's a natural cycle...

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    Gold and properties are meant for buying when the price is reasonable to keep. At the moment, gold still has upward momentum bcoz the funds are still switching over to this safe haven. I believe over the next few years, US and EU companies will come to Asia (including Singapore) to look for business opportunities, and the US and EU residents will also settle down here instead of returning home. So properties are still a good bet, especially when our properties are denominated in strong SGD and partially backed by gold, which is another safe haven. Politically we are stable for the next 5 years. No other countries now offer this unique combination.

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    Quote Originally Posted by DC33_2008
    Gold hit USD1700 now.
    Can try speculate silver future now

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    Good idea. Silver has not moved much the last few days. When gold is too high, people will move to silver.
    Quote Originally Posted by Rosy
    Can try speculate silver future now

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    Quote Originally Posted by hyenergix
    Gold and properties are meant for buying when the price is reasonable to keep. At the moment, gold still has upward momentum bcoz the funds are still switching over to this safe haven. I believe over the next few years, US and EU companies will come to Asia (including Singapore) to look for business opportunities, and the US and EU residents will also settle down here instead of returning home. So properties are still a good bet, especially when our properties are denominated in strong SGD and partially backed by gold, which is another safe haven. Politically we are stable for the next 5 years. No other countries now offer this unique combination.
    Ok I bet you are right.
    Yee ha! Did I tickle your funny bone?


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    Quote Originally Posted by hyenergix
    ....So properties are still a good bet, especially when our properties are denominated in strong SGD and partially backed by gold, which is another safe haven. Politically we are stable for the next 5 years. No other countries now offer this unique combination.
    from wiki
    http://en.wikipedia.org/wiki/Gold_reserve
    in Dec 2010, Singapore gold reserves is 127.4 ton, share of reserve only 2.5%. Is that considered strong backing by gold?

    and politically stable, have to vote for TT in coming PE?

  21. #21
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    Partially. Better than no gold. President
    1st job is prob to use e reserve again.

  22. #22
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    TT only spend $. Look at NRF, giving out millions of Tax payers $ to Top Foreign Universities to do research.
    Quote Originally Posted by hopeful
    from wiki
    http://en.wikipedia.org/wiki/Gold_reserve
    in Dec 2010, Singapore gold reserves is 127.4 ton, share of reserve only 2.5%. Is that considered strong backing by gold?

    and politically stable, have to vote for TT in coming PE?

  23. #23
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    Quote Originally Posted by hyenergix
    Partially. Better than no gold. President
    1st job is prob to use e reserve again.
    We will surely Call for it in it's term.

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    Quote Originally Posted by DC33_2008
    TT only spend $. Look at NRF, giving out millions of Tax payers $ to Top Foreign Universities to do research.
    Has TT won yet? From what I gather so far, older folks are pro-TT because he is more prominent. Looks like 60% will vote for TT.
    Yee ha! Did I tickle your funny bone?


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    Take a look at the link below...And the chart in the actual link

    http://www.economist.com/blogs/daily.../gold_reserves


    Bullion for you
    Apr 27th 2011, 16:15 by The Economist online

    Where the world's gold is held

    THE creditworthiness of a country used to be judged by the level of its gold reserves. Under the gold standard, a fall in reserves would lead to the central bank taking crisis measures. The country with the biggest reserves in the world is, not surprisingly, America, with 8,134 tonnes. But expressed in terms of reserves per person, the picture looks very different. It is no surprise to see Switzerland at the top of the list, but why is Lebanon in second place? Its reserves were purchased when the country was the Middle East’s financial centre in the 1960s and 1970s and safeguarded through the civil war years by legal restrictions and by central-bank governor Edmond Naim, who according to legend slept in the bank to protect the hoard. China does not feature in the list at all; but gold bugs fantasise about what might happen if the people’s republic were to swap just some of its mountain of Treasury bonds for bullion.

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    Default China becomes world's sixth-largest gold holder

    China 6th largest but aim to surpass US..in gold

    http://crisisboom.com/2011/05/24/chi...gold-reserves/

    http://www.moneycontrol.com/news/wor...er_574034.html

    China becomes world's sixth-largest gold holder

    Published on Mon, Aug 08, 2011 at 14:59 |* Source : PTI
    Updated at Mon, Aug 08, 2011 at 16:36 *

    China has become the world's sixth-largest gold holder as the country seeks to diversify its reserve assets away from the US dollar, data showed today.
    China's gold holdings came to 1054.1 tons as of March this year, according to the finance ministry, which cited data from the World Gold Council (WCG). The amount is nearly one-eighth of the US reserve.
    The world's No 2 economy had maintained a gold reserve of 600 tons for the six years prior to 2009. The London-based WGC is an international non-profit organisation that provides investors around the world with key information about gold.
    The United States topped the list by holding 8,133.5 tons of gold, followed by Germany with 3,406.8 tons. The International Monetary Fund, Italy and France came next with 3,005.3 tons, 2,451.8 tons and 2,435.4 tons, respectively, the
    ministry said.
    China's gold holdings only account for 1.6%, or around USD 55 billion, of the country's total reserve assets of USD 3 trillion.
    Cold has proved to be one of the most attractive investment assets, especially amid the financial and economic crises over the past years.
    Market analysts see that China has a lot of room to increase its gold reserve.
    More Chinese economists and advisers have suggested that the country's central bank should increase its gold reserves as a hedge against the falling values of other currencies.
    China claimed earlier that its foreign exchange reserves suffered a loss of USD 271.1 billion on its reserves between 2003 and 2010, the National Development and Reform Commission (NDRC) said in a report.
    The country is likely to lose USD 578.6 billion if the US dollar's exchange rate sinks to 6 yuan a dollar, said Zhang Anyuan, the head of the fiscal and financial policy research division of the NDRC.
    The yuan surged to its highest level against the US dollar today following the recent decision by the global rating appraiser Standard and Poor's Ratings Service (S&P) to downgrade the US government's long-term debt.
    The central People's Bank of China set the yuan's central parity rate at 6.4305 against the greenback, the highest since July 21, 2005, when China abandoned a decade-old peg against the greenback and shifted to a managed floating exchange rate.

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    http://www.goldprice.org/
    Gold price already crossed US$1700.. & hit as high as US$1775 in intraday

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    Quote Originally Posted by Rysk
    http://www.goldprice.org/
    Gold price already crossed US$1700.. & hit as high as US$1775 in intraday
    Wonder if the Chinese goverrnment is stocking more....

  29. #29
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    It will correct today.
    Quote Originally Posted by Rysk
    http://www.goldprice.org/
    Gold price already crossed US$1700.. & hit as high as US$1775 in intraday

  30. #30
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    Quote Originally Posted by DC33_2008
    It will correct today.
    Correct downward?? Correct to how much??
    Now the price is at US$1756

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