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Thread: Gold

  1. #16
    Property Newbie
    Join Date
    Oct 2010


    Quote Originally Posted by dtrax
    look like big sell off started..
    probably the start of the minor correction..

    triple top...

    3rd attempt to break above FAILED..

    big sell down coming

    what price do you guys think gold will correct to?

    I took the road less traveled by, and that has made all the difference.” - Robert Frost quotes (American poet, 1874-1963)

  2. #17
    Join Date
    Sep 2008


    Bloomberg ‎- 7 minutes ago

    Gold futures fell to the lowest since August after a report showed the U.S. economy grew more than forecast last quarter, damping expectations that the Federal Reserve will expand monetary stimulus.
    The U.S. grew at a 3.1 percent annual rate in the third quarter, more than previously reported and exceeding all projections in a Bloomberg survey, Commerce Department figures showed. The Fed said Dec. 12 it will boost its main stimulus tool by adding $45 billion of monthly Treasury purchases to an existing pledge of $40 billion in mortgage debt a month. The program is its third round of debt buying, known as quantitative easing, aimed at spurring growth.

    “The GDP number was better than forecast, so the thinking is that improving conditions in the economy might mean a light at the end of the tunnel on when the Fed will end QE3,” Phil Streible, a senior commodity broker at R.J. O’Brien & Associates in Chicago, said in a telephone interview.
    Gold futures for February delivery fell 1 percent to $1,650.80 an ounce at 9:48 a.m. on the Comex in New York, after touching $1,647.30, the lowest since Aug. 31. Through yesterday, the price was up 6.4 percent this year.
    The metal is poised to close below its 200-day moving average near $1,668, a bearish signal to some analysts who study historical price patterns. A close below the level means gold could drop to $1,535 by the end of the first quarter, Dave Lutz, the head of exchange-traded fund trading and strategy at Stifel Nicolaus & Co. in Baltimore, said yesterday.

    Annual Gains
    As of yesterday, prices surged 89 percent since the end of December 2008 as the Fed kept borrowing costs at a record low and bought debt. Bullion is heading for a 12th annual gain after central banks from the U.S. to China and Europe took action to prop up economies.

    Holdings in gold-backed exchange-traded products increased to a record 2,631.79 metric tons yesterday, data tracked by Bloomberg show. They’ve expanded 12 percent this year.

    Silver futures for March delivery tumbled 2.9 percent to $30.215 an ounce on the Comex. Earlier, the metal touched $30.05, the lowest since Aug. 23.

    The ratio of silver’s price to gold climbed to 54.74, the highest since August.

  3. #18
    Join Date
    Aug 2009


    Spot silver below 30

  4. #19
    Newbie auroraborealis's Avatar
    Join Date
    Sep 2010


    Uob buy back at lower price too; bank sell / bank buy px different
    Also if u want to sell back to uob, u need to keep the gold bar wrapped in original seal & keep original receipt
    If either missing, think either they buy at even lower price or dun buy back (can't remember which)

    If unseal, can sell to prawn shop or gold shop too

    Quote Originally Posted by cbsh38584
    To those who are familar buying physical PURE GOLD (999.9). Pls help me to understand more about physical GOLD (999.9).

    100 gram of PURE GOLD
    POH HENG Buy @ $8100+7% GST
    Sell back to them @ $8100 - 5% charges
    Sell NON-Poh heng to them. gold $8100-18%

    MAXI-Cash Buy @ $7200. No GST
    Sell back to them @ $6300 No GST

    Money Max Buy @$7300. No GST
    Sell back to them @6500. No GST

    UOB GOLD - Buy @ $6870 (Cant remember actual amt) NO GST
    sell back to them @ $6870 - 2% (cant remember actual %)

    Base on the above PURE GOLD pricing from Pawnshop , Jewellery shop & UOB GOLD. Look like it is more worth to buy from UOB GOLD.

    Is UOB GOLD COIN a better value than 100g gold bar in term of capital appreciation in Long run.
    Any other form UOB gold is of better value than bar & coin ?

    I hv wanted to buy small amt of Gold in HK. But look like I also need to declare & pay GST 7%. I drop the idea.

    Pls do not recommend GOLD GUARANNTEE company.They propose a beautiful investment to buy their gold > $9500 + monthly payout. I propose to them I sell my OWN GOLD to them. Of course they rejected.

    if you dont't own any property, you're short. take cover quickly

  5. #20
    Join Date
    Mar 2009


    Gold is down....

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