indonesia gold price

Gold Price Uncessuccfully Maintence Above USD 940

The GOLD PRICE also dipped below its 50 DMA (930.35) and closed on Comex at USD927.10, down 13.30. Several different plots might unroll:

The gold price might stop right here, or
The gold price might return to its 918.00 previous low and make a double bottom there, or
The gold price could drop through 918 to 900 or lower.

If all this sounds bearish however, remember that time is running out for lower gold and silver prices and I think and hope gold will go down and give all of us one last chance to buy gold on the cheap, before gold blows through USD1,000 on next bull run.

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Crude Oil Price Is Getting Stronger

Since start in March 2009, crude oil price have bound up stable to move above USD70. Sure we will ask why this black gold price (crude oil) will move up fast but the economic situation is still not recovery yet? The answer need to go back to 2008 when it begin.

It took only 5 months for the price of oil to plummet from USD150 to under USD40 in the second part of the year 2008. Meanwhile oil consumption did not even decrease 10%, so what is the real cause of this collapse you may ask?

During the first part of 2008, Western economies were already slowing down noticeably and hedge funds gradually pulled trillions of dollars out of the market and parked them in energy ETFs. At the time Chindia's insatiable thirst for oil and the "decoupling" of east/west economies had many believe commodities were a "sure thing", a sound enough tangible insurance to protect overinflated assets scavenged from made-up bubbles. On top of that, by using leverage, profits were multiplied as oil went up, not a bad deal in a recession.

But when the banking industry collapsed, hedge funds had to raise cash by "deleveraging", liquidating their leveraged energy ETF positions sending the price of oil tumbling. Anecdotally shorting of banking ETFs was suspended by the US Securities Commission during that time but not shorting of energy prices, and the leverage mania soon found an escape route in utrashort oil ETFs, compounding the speed of this downward spiral. By December 2008 the oil price had collapsed 75% and frankly, who would complain about cheap gas these days?

As we enter 2009 the oil landscape has reversed dramatically from a year ago.

The price of oil is lower than production costs and new exploration projects are being cancelled. China flush with cash is currently buying all the oil it can get its hands on to pump into its strategic reserves. Once arrogant OPEC countries are willing to sell oil at any price to fund government programs and prevent political instability.

One constant however is the depletion of major oil fields, worse than predicted at 9.1% year over year as we close 2008. It's a matter of when not if the economy recovers and when it does, expect a strong bounce back in the price of oil. The black gold price will fear us again.

Gold Price Again Try To Broken USD 940 Level

Today we will see gold price try to broken USD 940 level, if this level broken so the gold correction will be end and the bull run to hits USD 1,000 per ounce will be start again.

However the gold market is still unstable and in addition USD/MYR currency also up down up down will not help in forecasting the gold investment. Short term gold price is still no clear direction yet but long term gold always in bull run.

Gold Price Bounds Up Still Unlikely To Happen In Short Term

Base on the chart, gold price will unlikely to bounds up in short term and I think the next bull run will at end of this year so bull run may unlikely to happen on 3Q2009.

Public Bank Gold Investment Account as at 25/06/09 1:20 PM

	Selling Price	Buying Price
1 gram	RM 108.9000	RM 104.6800

Hold Long Enough You Always A Winner In Gold Investment

Yesterday gold up USD 3.30 to USD923.90, but remains below its 50 DMA at 925.26. Will it drop to its 200 DMA at 870.74? Again, markets do not drop from the 50 DMA to 200 DMA every time. Over the last six months, the gold price has tended to drop back less than I expected, certainly less than the max I expected.

The gold price up is because the dollar lost momentum badly today, and I'm not sure it can continue to rally. Besides, time is running out for gold 's seasonal low. However, other gold price indicators are not yet oversold, and I recognize that I am so bullish that I will always put the best colour on gold 's outlook.

Torture is, you want to buy on a dip, but you can't know whether the dip is dipped out yet -- or not. Worst place to land is twisting in the breeze of indecision, blown first one way then the next, and you end up not buying anything.

Keep on reminding yourself that after this correction ends, the gold price will be headed for USD1,300 and higher, most likely by year end. So if investing in long term ever dip is a buy call and if you hold long enough you always a winner in Gold investment.

Public Bank Gold Investment Account as at 23/06/09 3:21 PM

	Selling Price	Buying Price
1 gram	RM 107.2000	RM 103.0300

Correction In Gold Prices Is Not Over Yet.

Gold price correction is not over yet but if the price drop below USD900 than the price will drop fast to USD865 level. In this time, any buying into gold may stop. Gold price is in seasonality low and USD930 levels successfully defended this week are so important. If we can go another week with those intact, then the correction's worst beating is behind us.

Back to Malaysia, the gold price is still supported by the currency.

Public Bank Gold Investment Account as at 22/06/09 3:51 PM

	Selling Price	Buying Price
1 gram	RM 108.8600	RM 104.6200

Gold Price Did Not Break Through USD940 On The First Try

The gold price did not break through $940 on the first try so it will try a few time again but now it will test the downside of the range.

Public Bank Gold Investment Account as at 18/06/09 3:52 PM

	Selling Price	Buying Price
1 gram	RM 109.2800	RM 105.0300