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zhuge_liang Supreme	16-Jan-2007 01:03        zhuge_liang About Contact  Quote this Post!
x 0   x 0  Alert Admin	Gold extended gains on Monday to hit its highest in about 10 days, supported by technical buying and a slight decline in the dollar against the euro. But traders and analysts said the metal might struggle to move significantly higher in the near term. "Probably the outlook from here is neutral," John Reade, head of metals strategy at UBS Investment Bank, said. "According to our Forex strategists, we might see dollar strength in the short term because U.S. economic data is coming through so strongly. Although I like gold on one-month and three-month view, I am little bit cautious here," he said. Spot gold rose as high as US$627.50 an ounce, its best since Jan. 4. The metal was quoted at US$626.6/627.6 by 1115 GMT, compared with US$625.60/626.60 in New York late on Friday,when it jumped more than US$14. Gold has been erratic since hitting its highest in nearly a month at US$644.90 at the start of the year. It tumbled to a two-month low of US$601.70 on Jan. 5 due to a surging dollar. Dealers said technical buying intensified after gold crossed its 200-day moving average of US$621.59 an ounce on Friday. Light trading volumes also exaggerated price moves. Analysts said gold was helped by the dollar, which fell from the previous week's 1-1/2-month highs. The metal often moves in the opposite direction of the dollar. "We've seen gold being well supported above US$600 after recent sharp falls. The mood of the market has improved," Takashi Ogura, manager of the risk management department at Kanetsu Asset Management in Asia, said. "Despite oil prices having made some gains, we're still a bit worried about their slump, which could cap gains in gold prices," he added. Oil rose above US$53 a barrel, recovering further from a 19-month low last week. Physical gold demand was slow, but an industry expert said the Italian jewellery industry might see a stabilisation this year after several years of decline if first signs of consumer demand recovery were confirmed. Italy's jewellery industry is the biggest in Europe and is fighting for the second position after India in the global rankings against growing competition from Turkey and China. In industry news, Russia scrapped export quotas on several metals. President Vladimir Putin has signed a decree allowing unlimited exports of most uncut diamonds, platinum group metals and other precious metals and ores.
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giantlow Master	31-Dec-2006 01:23        giantlow About Contact  Quote this Post!
x 0   x 0  Alert Admin	ETF stands for Exchange Traded Funds buying Gold ETF is similar to buying the STI ETF the only difference is that the STI ETF's prices track the STI while the Gold ETF prices tracks the Gold prices
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jessie Senior	30-Dec-2006 21:24        jessie About Contact  Quote this Post!
x 0   x 0  Alert Admin	hi zhuge liang, could you please enlighten me what is gold ETF ?  I have no idea what is this at all. Thanks in advance.
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zhuge_liang Supreme	30-Dec-2006 19:22        zhuge_liang About Contact  Quote this Post!
x 0   x 0  Alert Admin	From next year, CPF members will be allowed to use CPF to buy gold ETF. They will also be allowed to use their OA or SA savings to invest in government Treasury bills, which currently yield 3% a year. Currently, the CPF board allows investment in gold through gold certficates, gold savings accounts and physical gold held by agent banks. I'm looking forward to buying gold ETF using CPF.
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lg_6273 Elite	13-Dec-2006 08:28        lg_6273 About Contact  Quote this Post!
x 1   x 0  Alert Admin	MoneyNews from NewsMax.com, Monday, December 11, 2006  Experts: Gold Is Cheap Gold, which has undergone a correction, is undervalued right now, say experts including analysts for Deutsche Bank, JPMorgan Chase, Merrill Lynch, and a former head of research at Citigroup. The experts point to gold?s role as an inverse play against the fragile U.S. dollar. In other words, as the U.S. dollar falls, gold should rise. "Gold is the purest play against the dollar," Louise Yamada, managing director of Yamada Technical Research Advisors, tells Bloomberg. Yamada, who is the former head of technical research at Citigroup, is forecasting $730 gold next year, and says gold will reach $3,000 per ounce within a decade. When she was at Citigroup, Yamada correctly said gold was cheap when it traded at $279 in 2001. Yamada argues that central banks are diversifying away from the dollar and are buying gold instead. "Gold is probably the most straightforward investment to go with in this environment because of its consistent inverse relationship to the dollar," said Yamada, voted Wall Street's best technical analyst from 2001 to 2004 in surveys by Institutional Investor magazine. "Other countries are trying to diversify their dollar holdings. They're buying gold and anything they can to get out of the dollar." Deutsche Bank?s chief metals economist, Peter Richardson, recently proclaimed gold his favorite pick for 2007. "If you can only make one commodity investment," Richardson tells Bloomberg, gold is the "choice for 2007." JPMorgan Chase analysts John Normand and Jon Bergtheil said gold was only second to corn as the best bet based on tight supply and the flailing dollar. Normand and Bergtheil predict gold prices will rise 11 percent to $678 an ounce in 2007 and to $725 an ounce in 2008. "Gold is the only metal, base or precious, which will see no meaningful increase in mining supply next year," the analysts wrote, estimating that supply will grow by 1 percent. Merrill Lynch analyst Michael Jalonen upped his price target for gold through 2010. Jalonen expects gold to reach $650 an ounce in 2008, up from a previous prediction of $600. He also raised his 2009 projection from $600 to $625. And Jalonen maintains his 2007 prediction that gold will rebound to $675 in 2007. Jalonen tells Bloomberg the 2007 rally will be "due to a rebound in gold fabrication demand for bullion, lower central bank sales, and continued growth in investment demand."
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lg_6273 Elite	13-Dec-2006 08:27        lg_6273 About Contact  Quote this Post!
x 0   x 0  Alert Admin	MoneyNews from NewsMax.com, Monday, December 11, 2006  Experts: Gold Is Cheap Gold, which has undergone a correction, is undervalued right now, say experts including analysts for Deutsche Bank, JPMorgan Chase, Merrill Lynch, and a former head of research at Citigroup. The experts point to gold?s role as an inverse play against the fragile U.S. dollar. In other words, as the U.S. dollar falls, gold should rise. "Gold is the purest play against the dollar," Louise Yamada, managing director of Yamada Technical Research Advisors, tells Bloomberg. Yamada, who is the former head of technical research at Citigroup, is forecasting $730 gold next year, and says gold will reach $3,000 per ounce within a decade. When she was at Citigroup, Yamada correctly said gold was cheap when it traded at $279 in 2001. Yamada argues that central banks are diversifying away from the dollar and are buying gold instead. "Gold is probably the most straightforward investment to go with in this environment because of its consistent inverse relationship to the dollar," said Yamada, voted Wall Street's best technical analyst from 2001 to 2004 in surveys by Institutional Investor magazine. "Other countries are trying to diversify their dollar holdings. They're buying gold and anything they can to get out of the dollar." Deutsche Bank?s chief metals economist, Peter Richardson, recently proclaimed gold his favorite pick for 2007. "If you can only make one commodity investment," Richardson tells Bloomberg, gold is the "choice for 2007." JPMorgan Chase analysts John Normand and Jon Bergtheil said gold was only second to corn as the best bet based on tight supply and the flailing dollar. Normand and Bergtheil predict gold prices will rise 11 percent to $678 an ounce in 2007 and to $725 an ounce in 2008. "Gold is the only metal, base or precious, which will see no meaningful increase in mining supply next year," the analysts wrote, estimating that supply will grow by 1 percent. Merrill Lynch analyst Michael Jalonen upped his price target for gold through 2010. Jalonen expects gold to reach $650 an ounce in 2008, up from a previous prediction of $600. He also raised his 2009 projection from $600 to $625. And Jalonen maintains his 2007 prediction that gold will rebound to $675 in 2007. Jalonen tells Bloomberg the 2007 rally will be "due to a rebound in gold fabrication demand for bullion, lower central bank sales, and continued growth in investment demand."
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zhuge_liang Supreme	21-Nov-2006 02:15        zhuge_liang About Contact  Quote this Post!
x 0   x 0  Alert Admin	Gold firmed on Monday after last week's drop in prices spurred buying from jewellery makers in the run up to Christmas, while platinum reversed losses and gained nearly 2% on fund buying. Spot gold hit a high of US$624.50 an ounce and hovered at US$622.90 / US$623.90 by 0523 GMT, higher than US$621.10 / US$622.10 late in New York. "Physical demand is there and it will help underpin it a little bit, but it's probably not going to drive it higher," said Darren Heathcote of Investec Australia in Sydney. Gold has lost around 2% in value since rallying to a two-month high of $636.50 on Nov. 10 on a weaker dollar and news that China plans to diversify its foreign exchange reserves. The dollar inched up up 117.90 yen from around 117.75 yen in New York on Friday, when it had fallen on soft U.S. housing starts data and on rumours, later denied, that a U.S. hedge fund was in trouble. Expect gold to trade higher because of weak housing data will cause US$ to fall.
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Nostradamus Supreme	10-Nov-2006 23:51        Nostradamus About Contact  Quote this Post!
x 0   x 0  Alert Admin	Gold's share of China's total reserves is relatively low at around 1%, so it would need to buy a large amount of bullion to bring it up to, say, 5 or 10%, dealers said. Some European central banks hold up to 50% of their reserves in gold and in the United States, the world's largest holder of gold, reserves account for 64%. If China, for example, tried to raise its gold holding to 10%, it would need over 4,500 tonnes of gold -- or about two year's of global output, traders said.
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Nostradamus Supreme	10-Nov-2006 16:49        Nostradamus About Contact  Quote this Post!
x 0   x 0  Alert Admin	Japanese investors scooped up gold on Friday and sent Tokyo gold futures to their highest in three months as the dollar weakened and speculation whirled that China may boost its bullion reserves. Gold's fresh polish among investors swept other commodities higher, with Shanghai aluminium futures jumping nearly 3% "People are starting to think they cannot ignore this bullish mood," said Tatsuo Kageyama, analyst at Kanetsu Asset Management. Gold was the catalyst to buy other commodities, helped by comments made to Reuters by China central bank governor Zhou Xiachuan that the country had a clear plan to diversify US$1 trillion in foreign exchange reserves. That attracted more investors first into U.S. dollar-denominated gold and other commodities before spilling over into Asian commodity exchanges. The dollar also took a hit against the yen, making U.S. dollar-gold cheaper for Japanese investors after Bank of Japan Governor Toshihiko Fukui said he was concerned about a sharp unwinding of carry trades in the low-yielding Japanese currency. The market wasn't sure if the diversification of China's forex reserves -- the world's biggest -- meant the selling of dollar assets, or whether that meant the bank wanted more gold in its vaults. Cash gold matched a two-month high around US$635 an ounce, prolonging an uptrend set in the last New York session where the metal gained more than US$17.
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Nostradamus Supreme	09-Nov-2006 01:19        Nostradamus About Contact  Quote this Post!
x 0   x 0  Alert Admin	Gold inched lower after trading in a wide range on Wednesday, with investors awaiting leads from the currency market after the U.S. elections. Spot gold moved between US$623.00 and US$631.00 an ounce. The dollar eased against the euro but falls were limited as investors speculated no major policy shift was likely after the Democrats took control of the U.S. House of Representatives. Gold often moves in the opposite direction of the dollar. The metal might also track oil prices, which crept above US$59 a barrel as Gulf OPEC ministers meeting in Abu Dhabi pledged to push through a supply cut agreed last month and said a further reduction might follow. UBS Investment Bank said in a daily report that interest in gold exchange traded funds had picked up in recent weeks. "We believe that this change in sentiment has been driven by the technical break in gold which occurred between US$600 and US$610. If it is sustained ... it will support our case for a higher gold price on a one and three month view," it said.
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Nostradamus Supreme	06-Nov-2006 12:05        Nostradamus About Contact  Quote this Post!
x 0   x 0  Alert Admin	Gold was off its new two-month high, but stayed bullish as healthy technicals and lingering geopolitical concerns prompted investment funds to shift into the metal based on its strong performance over the last week. Cash gold was supported on follow-through buying after it posted strong gains in New York on Friday, with Japanese participants actively buying Tokyo gold futures on their return from a three-day weekend. Gold briefly reached US$629.40 an ounce, the highest since Sept. 7. In the futures market, December gold was traded at US$630.00 during the Asian trading session at the COMEX division of the New York Mercantile Exchange. "Gold is bullish, having clearly broken through major technical points," said Hisaaki Tasaka, a market analyst at Ace Koeki Co. Ltd. in Tokyo. "Gold tends to rise towards the end of the year when demand picks up ahead of the Christmas holiday season. In this bullish mood, investors are also focusing again on geopolitics, such as Iran's military exercises, to buy gold," Tasaka said. On Friday, Iran test-fired three new missiles, bringing the whole Gulf region within the range of the Islamic Republic's weaponry, Iranian state radio said. Iran's military manoeuvres come at a time of heightened tension between Iran and Western powers, which are trying to get agreement for United Nations sanctions to force Iran to cut back nuclear work they fear could produce an atomic bomb. Iran says its nuclear programme is entirely peaceful. Investment funds and other investors were buying gold based on its healthy technical trend, while ignoring a recovery in the US dollar since Friday and general weakness in energy prices.
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Nostradamus Supreme	03-Nov-2006 00:50        Nostradamus About Contact  Quote this Post!
x 0   x 0  Alert Admin	Gold in New York extended a rally to a seven-week high as some investors bet a slowing U.S. economy will weaken the dollar, boosting the metal as an alternative investment. Gold, sold in US dollars, generally moves in the opposite direction of the U.S. currency, which is headed for a third straight weekly drop against a basket of six major currencies. Gold is up 20% this year. "Some people are worried that the economy is not doing as well has they had thought," said Nick Ruggiero, a trader at Eagle Futures Inc. in New York. "That's why people are buying gold." Gold futures for December delivery rose to US$622.70 an ounce at 10:39 a.m. on the Comex division of the New York Mercantile Exchange. Prices earlier reached US$624.80, the highest since Sept. 8. Prices had gained 6.2% in the past seven sessions. "The only thing supporting the dollar is tomorrow's payrolls data,'' said John Licata, chief investment strategist at Blue Phoenix Inc. in New York. ``If we get a weak jobs report, buy gold.'' The jobless rate stayed at 4.6% in October, according to a Bloomberg News survey of economists. About 125,000 jobs were created, compared with 51,000 in September, the survey said.
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Nostradamus Supreme	28-Oct-2006 19:46        Nostradamus About Contact  Quote this Post!
x 0   x 0  Alert Admin	Gold traded near US$600 an ounce on Friday, lifted by the weakest U.S. GDP growth data in three years and an alert at a major Saudi oil terminal, analysts and dealers said. Gold touched US$599.10 after U.S. GDP rose at an annual rate of 1.6% during the third quarter, the slowest advance since the first quarter of 2003. The number sent the dollar to fresh three-week lows against the yen and lifted the euro on Thursday.   Support was also seen after the UK's Royal Navy said naval forces in the Gulf were deploying to counter a possible seaborne threat to Saudi Arabia's Ras Tanura terminal, which is the world's biggest offshore oil facility. U.S. crude was up about half a percent at US$60.60 a barrel but exports from the terminal were continuing as normal, industry sources said, describing the deployment as routine. If oil breaks up gold could have a go higher.
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mwzl95 Member	21-Oct-2006 16:20        mwzl95 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes.
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scotty Senior	21-Oct-2006 15:55        scotty About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Thanks for the explanation Nos! Another stupid question... why does Gold rally when oil price jump? Is it because higher oil price cause high inflation?
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mwzl95 Member	20-Oct-2006 17:51        mwzl95 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I guess i'm wrong about investors being scared.
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Nostradamus Supreme	20-Oct-2006 17:17        Nostradamus About Contact  Quote this Post!
x 1   x 0  Alert Admin	Hi scotty, Gold doesn't move the opposite direction to the stock market. Gold moves in opposite direction to US$ and same direction as inflation. Gold is a hedge against inflation. The market moves up when inflation is low. So gold moves down. HTH.
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mwzl95 Member	20-Oct-2006 17:05        mwzl95 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Because when stocks go down investors are scared and run to gold and vice versa.
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mwzl95 Member	20-Oct-2006 17:05        mwzl95 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Because when stocks go down investors are scared and run to gold and vice versa.
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scotty Senior	20-Oct-2006 15:25        scotty About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Hey... ask a stupid queestion... Does gold move the opposite direction from stock market? If bull come, gold fall and bear come gold rise? How come like that?
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