China, which has just 1.6 percent of its reserves in gold, may invest more than $1 trillion in bullion, [Michael Pento of Euro Pacific Capital] said. “China wants to be an international player, and they need to own more gold than they currently have.”
…“China is out to have more gold than America, and Russia is aspiring to the same,” [Robert] McEwen, [the chief executive officer of producer U.S. Gold Corp] said yesterday in an interview in New York. “When you have debt, you don’t have a lot of flexibility. China wants to show its currency has more backing than the U.S.”
…China, with more than $3 trillion in foreign-currency reserves, plans to set up new funds to invest in precious metals, Century Weekly reported this week. Russia purchased 8 tons of gold in the first quarter.
PERSOALAN ?
Adakah kita ingin menunggu harga emas dunia naik sehingga RM500.00/segram baru nak ambil tahu tentang Emas (Gold)? Bagaimana pula dengan Perak (Silver) nak tunggu harga yang keberapa baru nak tercari-cari mana nak dapatkannya? Fikirkan dan bertindak bijak. - emasfx.blogspot.com
Resources : Bloombergs
“Invest, Save, Own Gold"
Saturday, April 30, 2011
Friday, April 29, 2011
RHB Islamic sasar RM20 juta
Oleh ASMA HANIM MAHMOOD
utusankelantan@utusan.com.my
KOTA BHARU 28 April - RHB Islamic Bank yakin produk pembiayaan pajak gadai Islamnya atau Ar-Rahnu mampu mencatatkan jumlah transaksi sehingga RM20 juta pada akhir tahun ini, selepas lapan bulan dilancarkan.
Ketua Pegawai Eksekutif merangkap Pengarah Urusannya, Abd. Rani Lebai Jaafar berkata, perkhidmatan Ar-Rahnu yang dimulakan di cawangan RHB Islamic Bank Kubang Kerian di sini, berpotensi besar untuk dikembangkan berikutan minat tinggi masyarakat tempatan menyimpan barangan kemas.
Beliau berkata, jumlah golongan yang bekerja sendiri, peniaga kecil dan usahawan wanita yang ramai di negeri ini juga menjadi faktor kepada produk ini diperkenalkan di sini bagi membolehkan mereka mendapatkan pembiayaan alternatif dan modal.
Katanya, pajak gadai Ar-Rahnu itu akan diperluaskan ke cawangan lain dengan sasaran awal ialah Kuala Terengganu, Terengganu; Bangi, Selangor dan Kuching, Sarawak.
"Kelantan dipilih sebagai tapak awal produk Ar-Rahnu kami kerana melihat kepada minat mendalam masyarakat negeri ini terutama golongan wanita yang gemar menyimpan barang kemas.
"Pembiayaan Ar-Rahnu kami memberi peluang kepada mereka yang kesempitan untuk mendapatkan keperluan tunai dan juga modal perniagaan dengan pembiayaan sekurang-kurangnya RM100 sehingga RM50,000.
"Produk ini terbuka kepada semua warganegara Malaysia berumur 18 tahun ke atas dengan tempoh gadaian antara enam bulan sehingga setahun," katanya selepas Majlis Pelancaran Produk Pembiayaan Pajak Gadai Islam (Ar-Rahnu) dan Fiesta Perbankan Islam 2011 bank itu di sini, hari ini.
Hadir sama, Ketua Perbankan Transaksi RHB Islamic Bank, Tengku Panglima Raja Tengku Mohamad Rizam Tengku Abdul Aziz; Pengarah Wilayah Timur Kumpulan Perbankan RHB, Nazri Othman; Ketua Perbankan Runcit RHB Islamic Bank, Zulkahairi Zabiri dan Pengurus RHB Islamic Bank Kubang Kerian, Norliza Abdul Shukor.
Abd. Rani berkata, urus niaga pajak gadai Islam itu akan menggunakan empat jenis konsep syariah iaitu Qardhul Hasan, Ar-Rahnu, Wadiah Yad Dhomanah serta Al-Ujrah dan mereka menerima emas jenis 999, 950, 916, 875, 835 dan 750 untuk digadai.
Jelasnya, RHB Islamic Bank sehingga kini mempunyai 12 cawangan di seluruh negara dengan lebih 250,000 pelanggan dan perkhidmatan perbankan berasaskan syariah itu turut disokong oleh 196 cawangan konvensional Kumpulan Perbankan RHB lain.
Beliau berkata, RHB Islamic Bank mengunjurkan penambahan cawangan-cawangan bank itu di negeri yang belum ditembusi seperti Kedah, Melaka, Perlis dan Pahang.
Source: Utusan Malaysia
utusankelantan@utusan.com.my
KOTA BHARU 28 April - RHB Islamic Bank yakin produk pembiayaan pajak gadai Islamnya atau Ar-Rahnu mampu mencatatkan jumlah transaksi sehingga RM20 juta pada akhir tahun ini, selepas lapan bulan dilancarkan.
Ketua Pegawai Eksekutif merangkap Pengarah Urusannya, Abd. Rani Lebai Jaafar berkata, perkhidmatan Ar-Rahnu yang dimulakan di cawangan RHB Islamic Bank Kubang Kerian di sini, berpotensi besar untuk dikembangkan berikutan minat tinggi masyarakat tempatan menyimpan barangan kemas.
Beliau berkata, jumlah golongan yang bekerja sendiri, peniaga kecil dan usahawan wanita yang ramai di negeri ini juga menjadi faktor kepada produk ini diperkenalkan di sini bagi membolehkan mereka mendapatkan pembiayaan alternatif dan modal.
Katanya, pajak gadai Ar-Rahnu itu akan diperluaskan ke cawangan lain dengan sasaran awal ialah Kuala Terengganu, Terengganu; Bangi, Selangor dan Kuching, Sarawak.
"Kelantan dipilih sebagai tapak awal produk Ar-Rahnu kami kerana melihat kepada minat mendalam masyarakat negeri ini terutama golongan wanita yang gemar menyimpan barang kemas.
"Pembiayaan Ar-Rahnu kami memberi peluang kepada mereka yang kesempitan untuk mendapatkan keperluan tunai dan juga modal perniagaan dengan pembiayaan sekurang-kurangnya RM100 sehingga RM50,000.
"Produk ini terbuka kepada semua warganegara Malaysia berumur 18 tahun ke atas dengan tempoh gadaian antara enam bulan sehingga setahun," katanya selepas Majlis Pelancaran Produk Pembiayaan Pajak Gadai Islam (Ar-Rahnu) dan Fiesta Perbankan Islam 2011 bank itu di sini, hari ini.
Hadir sama, Ketua Perbankan Transaksi RHB Islamic Bank, Tengku Panglima Raja Tengku Mohamad Rizam Tengku Abdul Aziz; Pengarah Wilayah Timur Kumpulan Perbankan RHB, Nazri Othman; Ketua Perbankan Runcit RHB Islamic Bank, Zulkahairi Zabiri dan Pengurus RHB Islamic Bank Kubang Kerian, Norliza Abdul Shukor.
Abd. Rani berkata, urus niaga pajak gadai Islam itu akan menggunakan empat jenis konsep syariah iaitu Qardhul Hasan, Ar-Rahnu, Wadiah Yad Dhomanah serta Al-Ujrah dan mereka menerima emas jenis 999, 950, 916, 875, 835 dan 750 untuk digadai.
Jelasnya, RHB Islamic Bank sehingga kini mempunyai 12 cawangan di seluruh negara dengan lebih 250,000 pelanggan dan perkhidmatan perbankan berasaskan syariah itu turut disokong oleh 196 cawangan konvensional Kumpulan Perbankan RHB lain.
Beliau berkata, RHB Islamic Bank mengunjurkan penambahan cawangan-cawangan bank itu di negeri yang belum ditembusi seperti Kedah, Melaka, Perlis dan Pahang.
Source: Utusan Malaysia
Sunday, April 24, 2011
Factbox: Gold milestones on the road to record high
(Reuters) - Gold struck a record high on Thursday at $1,508 an ounce as the dollar fell to a three-year low, supporting sentiment in precious metals.
Following are key dates in gold's trading history since the early 1970s:
* August 1971 - U.S. President Richard Nixon takes the dollar off the gold standard, which had been in place with minor modifications since the Bretton Woods Agreement of 1944 fixed the conversion rate for one Troy ounce of gold at $35.
* August 1972 - The United States devalues the dollar to $38 per ounce of gold.
* March 1973 - Most major countries adopt floating exchange rate system.
* May 1973 - U.S. devalues dollar to $42.22 per ounce.
* January 1980 - Gold hits record high at $850 per ounce. High inflation because of strong oil prices, Soviet intervention in Afghanistan and the impact of the Iranian revolution prompt investors to move into the metal.
* August 1999 - Gold falls to a low at $251.70 on worries about central banks reducing reserves of gold bullion and mining companies selling gold in forward markets to protect against falling prices.
* October 1999 - Gold reaches a two-year high at $338 after agreement to limit gold sales by 15 European central banks. Market sentiment toward gold begins to turn more positive.
* February 2003 - Gold reaches a 4-½ year high on safe-haven buying in the run-up to the invasion of Iraq.
* December 2003-January 2004 - Gold breaks above $400, reaching levels last traded in 1988. Investors increasingly buy gold as risk insurance for portfolios.
* November 2005 - Spot gold breaches $500 for the first time since December 1987, when spot hit $502.97.
* April 11, 2006 - Gold prices surpass $600, the highest point since December 1980, with funds and investors pouring money into commodities on a weak dollar, firm oil prices and geopolitical worries.
* May 12, 2006 - Gold prices peak at $730 an ounce with funds and investors pouring money into commodities on a weak dollar, firm oil prices and political tensions over Iran's nuclear ambitions.
* June 14, 2006 - Gold falls 26 percent to $543 from its 26-year peak after investors and speculators sell out of commodity positions.
* November 7, 2007 - Spot gold hits a 28-year high of $845.40 an ounce.
* January 2, 2008 - Spot gold breaks above $850.
* March 13, 2008 - Benchmark gold contract trades over $1,000 for the first time in U.S. futures market.
* March 17, 2008 - Spot gold hits an all-time high of $1,030.80 an ounce. U.S. gold futures touch record peak of $1,033.90.
* September 17, 2008 - Spot gold rises by nearly $90 an ounce, a record one-day gain, as investors seek safety amid turmoil on the equity markets.
* Jan-March 2009 - Gold-backed exchange-traded funds report record inflows in the first quarter as financial sector insecurity spurs safe-haven buying. Holdings of the largest, the SPDR Gold Trust, rise 45 percent to 1,127.44 tonnes.
* February 20, 2009 - Gold rises back above $1,000 an ounce to a peak of $1,005.40 as investors buy bullion as a safe store of value as major economies face recession and equity markets tumble.
* April 24, 2009 - China announces it has raised its gold reserves by three-quarters since 2003 and now holds 1,054 tonnes of the precious metal, boosting expectations it may add further to its reserves.
* August 7, 2009 - European central banks opt to renew their earlier agreement to limit gold sales over a five-year period, setting the sales cap at 400 tonnes a year.
* September 8, 2009 - Gold breaks back through $1,000 an ounce for the first time since February 2009 on dollar weakness and concerns over the sustainability of the economic recovery.
* December 1, 2009 - Gold climbs above $1,200 an ounce for the first time as the dollar drops.
* December 3, 2009 - Gold hits record high at $1,226.10 an ounce, with dollar weakness and expectations for central banks to diversify reserves into gold driving prices higher.
* May 11, 2010 - Gold reaches fresh record high above $1,230 an ounce as fears over the contagion of debt issues in the euro zone fuel safe-haven buying.
* June 21, 2010 - Gold jumps to a new high at $1,264.90 an ounce as underlying fears over financial market stability and sovereign risk combine with dollar weakness to push the metal through resistance at its previous high.
* Sept 14, 2010 - Gold climbs back to record highs, this time at $1,274.75, as global markets reflect renewed uncertainty on the economic outlook.
* Sept 16-22, 2010 - Gold hits record highs for five successive sessions, peaking at $1,296.10, as investors flock to bullion after the Fed signals it may consider further quantitative easing, weakening the dollar and raising fears over future inflation.
* Sept 27 - Spot gold prices touch the $1,300 an ounce mark for the first time.
* Oct 7 - Gold rallies to a record high above $1,360 an ounce as the dollar comes under pressure from building expectations for the U.S. Federal Reserve to take extra measures to keep interest rates low and prop up the economy.
* Oct 13 - Gold jumped to record highs near $1,375 an ounce as the dollar continued to languish, with the U.S. unit coming under pressure after minutes from the Fed's September meeting signaled the U.S. economy may need further stimulus.
* Nov 8 - Gold prices break through the $1,400 an ounce mark for the first time as haven buying prompted by renewed budget problems in Ireland more than offset a sharp dollar bounce.
* Dec 7 - Gold reaches a fresh record high above $1,425 an ounce, driven by fund buying ahead of year-end, jitters over the euro zone debt crisis and speculation for further U.S. monetary easing.
* January 2011 - Gold prices fall more than 6 percent in their worst monthly performance in over a year as a revival in risk appetite diverts investment to higher-yielding assets.
* March 1 - Gold recovers to hit a record high at $1,434.65 an ounce as unrest in Tunisia and Egypt spreads across the Middle East and North Africa, boosting oil prices.
* March 7 - Gold extends record highs to $1,444.40 an ounce as oil prices hit their highest in 2-1/2 years after protests are quashed in Saudi Arabia and as violence in Libya rages.
* March 24 - The resignation of Portuguese prime minister Jose Socrates pushes the euro zone debt crisis back to center stage, lifting gold prices to a record above $1,447 an ounce.
* April 21 - Gold climbs to an all-time high at $1,508 an ounce, in a fifth consecutive record-breaking session, supported by a weak dollar and sovereign debt concerns.
(Compiled by Atul Prakash, Jan Harvey, Himani Sarkar, Amanda Cooper and Rujun Shen)
Source: REUTERS
Following are key dates in gold's trading history since the early 1970s:
* August 1971 - U.S. President Richard Nixon takes the dollar off the gold standard, which had been in place with minor modifications since the Bretton Woods Agreement of 1944 fixed the conversion rate for one Troy ounce of gold at $35.
* August 1972 - The United States devalues the dollar to $38 per ounce of gold.
* March 1973 - Most major countries adopt floating exchange rate system.
* May 1973 - U.S. devalues dollar to $42.22 per ounce.
* January 1980 - Gold hits record high at $850 per ounce. High inflation because of strong oil prices, Soviet intervention in Afghanistan and the impact of the Iranian revolution prompt investors to move into the metal.
* August 1999 - Gold falls to a low at $251.70 on worries about central banks reducing reserves of gold bullion and mining companies selling gold in forward markets to protect against falling prices.
* October 1999 - Gold reaches a two-year high at $338 after agreement to limit gold sales by 15 European central banks. Market sentiment toward gold begins to turn more positive.
* February 2003 - Gold reaches a 4-½ year high on safe-haven buying in the run-up to the invasion of Iraq.
* December 2003-January 2004 - Gold breaks above $400, reaching levels last traded in 1988. Investors increasingly buy gold as risk insurance for portfolios.
* November 2005 - Spot gold breaches $500 for the first time since December 1987, when spot hit $502.97.
* April 11, 2006 - Gold prices surpass $600, the highest point since December 1980, with funds and investors pouring money into commodities on a weak dollar, firm oil prices and geopolitical worries.
* May 12, 2006 - Gold prices peak at $730 an ounce with funds and investors pouring money into commodities on a weak dollar, firm oil prices and political tensions over Iran's nuclear ambitions.
* June 14, 2006 - Gold falls 26 percent to $543 from its 26-year peak after investors and speculators sell out of commodity positions.
* November 7, 2007 - Spot gold hits a 28-year high of $845.40 an ounce.
* January 2, 2008 - Spot gold breaks above $850.
* March 13, 2008 - Benchmark gold contract trades over $1,000 for the first time in U.S. futures market.
* March 17, 2008 - Spot gold hits an all-time high of $1,030.80 an ounce. U.S. gold futures touch record peak of $1,033.90.
* September 17, 2008 - Spot gold rises by nearly $90 an ounce, a record one-day gain, as investors seek safety amid turmoil on the equity markets.
* Jan-March 2009 - Gold-backed exchange-traded funds report record inflows in the first quarter as financial sector insecurity spurs safe-haven buying. Holdings of the largest, the SPDR Gold Trust, rise 45 percent to 1,127.44 tonnes.
* February 20, 2009 - Gold rises back above $1,000 an ounce to a peak of $1,005.40 as investors buy bullion as a safe store of value as major economies face recession and equity markets tumble.
* April 24, 2009 - China announces it has raised its gold reserves by three-quarters since 2003 and now holds 1,054 tonnes of the precious metal, boosting expectations it may add further to its reserves.
* August 7, 2009 - European central banks opt to renew their earlier agreement to limit gold sales over a five-year period, setting the sales cap at 400 tonnes a year.
* September 8, 2009 - Gold breaks back through $1,000 an ounce for the first time since February 2009 on dollar weakness and concerns over the sustainability of the economic recovery.
* December 1, 2009 - Gold climbs above $1,200 an ounce for the first time as the dollar drops.
* December 3, 2009 - Gold hits record high at $1,226.10 an ounce, with dollar weakness and expectations for central banks to diversify reserves into gold driving prices higher.
* May 11, 2010 - Gold reaches fresh record high above $1,230 an ounce as fears over the contagion of debt issues in the euro zone fuel safe-haven buying.
* June 21, 2010 - Gold jumps to a new high at $1,264.90 an ounce as underlying fears over financial market stability and sovereign risk combine with dollar weakness to push the metal through resistance at its previous high.
* Sept 14, 2010 - Gold climbs back to record highs, this time at $1,274.75, as global markets reflect renewed uncertainty on the economic outlook.
* Sept 16-22, 2010 - Gold hits record highs for five successive sessions, peaking at $1,296.10, as investors flock to bullion after the Fed signals it may consider further quantitative easing, weakening the dollar and raising fears over future inflation.
* Sept 27 - Spot gold prices touch the $1,300 an ounce mark for the first time.
* Oct 7 - Gold rallies to a record high above $1,360 an ounce as the dollar comes under pressure from building expectations for the U.S. Federal Reserve to take extra measures to keep interest rates low and prop up the economy.
* Oct 13 - Gold jumped to record highs near $1,375 an ounce as the dollar continued to languish, with the U.S. unit coming under pressure after minutes from the Fed's September meeting signaled the U.S. economy may need further stimulus.
* Nov 8 - Gold prices break through the $1,400 an ounce mark for the first time as haven buying prompted by renewed budget problems in Ireland more than offset a sharp dollar bounce.
* Dec 7 - Gold reaches a fresh record high above $1,425 an ounce, driven by fund buying ahead of year-end, jitters over the euro zone debt crisis and speculation for further U.S. monetary easing.
* January 2011 - Gold prices fall more than 6 percent in their worst monthly performance in over a year as a revival in risk appetite diverts investment to higher-yielding assets.
* March 1 - Gold recovers to hit a record high at $1,434.65 an ounce as unrest in Tunisia and Egypt spreads across the Middle East and North Africa, boosting oil prices.
* March 7 - Gold extends record highs to $1,444.40 an ounce as oil prices hit their highest in 2-1/2 years after protests are quashed in Saudi Arabia and as violence in Libya rages.
* March 24 - The resignation of Portuguese prime minister Jose Socrates pushes the euro zone debt crisis back to center stage, lifting gold prices to a record above $1,447 an ounce.
* April 21 - Gold climbs to an all-time high at $1,508 an ounce, in a fifth consecutive record-breaking session, supported by a weak dollar and sovereign debt concerns.
(Compiled by Atul Prakash, Jan Harvey, Himani Sarkar, Amanda Cooper and Rujun Shen)
Source: REUTERS
Ungkapan Emas
Abū Bakr ibn Abi Maryam reported that he heard the
Messenger of Allah say: "A time is certainly coming over
mankind in which there will be nothing (left) that will be of
use (or benefit) save a Dinār (i.e., a gold coin) and a
Dirham (i.e., a silver coin).” [This prophecy clearly
anticipates the eventual collapse of the fraudulent monetary
system now functioning around the world.]
(Musnad, Ahmad)
Messenger of Allah say: "A time is certainly coming over
mankind in which there will be nothing (left) that will be of
use (or benefit) save a Dinār (i.e., a gold coin) and a
Dirham (i.e., a silver coin).” [This prophecy clearly
anticipates the eventual collapse of the fraudulent monetary
system now functioning around the world.]
(Musnad, Ahmad)
Saturday, April 23, 2011
Gold soars to record in sixth straight session
By Rujun Shen
SINGAPORE | Fri Apr 22, 2011 9:28am EDT
SINGAPORE (Reuters) - Spot gold surged to a lifetime high on Friday in thin holiday trade, hitting a record for a sixth consecutive session on a weak dollar and factors ranging from geopolitical uncertainty to inflation concerns.
Silver also raced to its loftiest in 31 years, notching the milestone for a seventh straight day and outstripping gold's weekly gains by a huge margin.
The ongoing euro zone sovereign debt crisis, unrest in the Middle East and North Africa, rising global inflation, and most recently worries over the fiscal stability of the United States have fueled the record-breaking rally in these precious metals.
Spot gold rose to an record of $1,512.50 an ounce, before easing to $1,507.69 by 4:53 a.m. EST, on track for a weekly gain of 1.5 percent -- its sixth consecutive week of gains.
Spot silver hit $46.69 an ounce, its highest since 1980, on course for a weekly rise of 8.4 percent, its biggest weekly increase in two months.
Silver has gained 51 percent so far this year, and gold 6 percent. This compares with a corresponding 1 percent rise in the London Metal Exchange price of copper, the bellwether of the industrial metals complex.
Supporting precious metals, the dollar was languishing near a three-year low against a basket of currencies, and could take a run at the all-time low hit in 2008, pressured by record low interest rates and the crushing weight of the U.S. budget deficit.
So long as the overall environment stays supportive and the dollar remains weak, gold is expected to retain its strength. Price of bullion is seen to rise to $1,700 an ounce by 2015, analysts polled by Reuters said in a poll.
However, a correction might be on the horizon after the recent rapid ascent, traders and analysts said.
"Gold is likely to consolidate around the $1,500-level next week," said Li Ning, an analyst at Shanghai CIFCO Futures. "The angle of the recent rally is very sharp, and we are bound to see some correction in the near term."
MORE STEAM TO RUN ON?
Spot gold has rallied more than $50, or 4 percent, in the past eight sessions. The Relative Strength Index, or RSI, rose to nearly 75, a level unseen since October last year, suggesting the market has been heavily overbought.
The RSI on spot silver climbed close to near 89, its highest since April 1987.
The gold market may have topped out, and now is the time to sell while there are still people willing to buy, said Barry Schwartz, vice president and portfolio manager at Toronto-based wealth manager Baskin Financial Services.
However, Shanghai CIFCO's Li said gold has more steam to run on and expected prices to peak at $1,550 by the end of the second quarter, buoyed by the Middle East unrest, sovereign debt concerns on both sides of the Atlantic and inflation worries.
The Shanghai Gold Exchange has started a trial for over-the-counter trading, providing a convenient tool for institutional clients to trade large quantities of gold, to catch up with exploding investment demand in China.
Holdings in the physically backed exchange-traded precious metals funds dipped ahead of the long Easter weekend. SPDR Gold Trust, the world's biggest gold ETF, saw holdings dip 0.6 metric tons to 1,229.643 metric tonne.
Financial markets in Singapore and Hong Kong are closed on Friday for a public holiday, and Hong Kong will remain closed on Monday.
(Editing by Himani Sarkar)
REFERENCE : REUTERS
SINGAPORE | Fri Apr 22, 2011 9:28am EDT
SINGAPORE (Reuters) - Spot gold surged to a lifetime high on Friday in thin holiday trade, hitting a record for a sixth consecutive session on a weak dollar and factors ranging from geopolitical uncertainty to inflation concerns.
Silver also raced to its loftiest in 31 years, notching the milestone for a seventh straight day and outstripping gold's weekly gains by a huge margin.
The ongoing euro zone sovereign debt crisis, unrest in the Middle East and North Africa, rising global inflation, and most recently worries over the fiscal stability of the United States have fueled the record-breaking rally in these precious metals.
Spot gold rose to an record of $1,512.50 an ounce, before easing to $1,507.69 by 4:53 a.m. EST, on track for a weekly gain of 1.5 percent -- its sixth consecutive week of gains.
Spot silver hit $46.69 an ounce, its highest since 1980, on course for a weekly rise of 8.4 percent, its biggest weekly increase in two months.
Silver has gained 51 percent so far this year, and gold 6 percent. This compares with a corresponding 1 percent rise in the London Metal Exchange price of copper, the bellwether of the industrial metals complex.
Supporting precious metals, the dollar was languishing near a three-year low against a basket of currencies, and could take a run at the all-time low hit in 2008, pressured by record low interest rates and the crushing weight of the U.S. budget deficit.
So long as the overall environment stays supportive and the dollar remains weak, gold is expected to retain its strength. Price of bullion is seen to rise to $1,700 an ounce by 2015, analysts polled by Reuters said in a poll.
However, a correction might be on the horizon after the recent rapid ascent, traders and analysts said.
"Gold is likely to consolidate around the $1,500-level next week," said Li Ning, an analyst at Shanghai CIFCO Futures. "The angle of the recent rally is very sharp, and we are bound to see some correction in the near term."
MORE STEAM TO RUN ON?
Spot gold has rallied more than $50, or 4 percent, in the past eight sessions. The Relative Strength Index, or RSI, rose to nearly 75, a level unseen since October last year, suggesting the market has been heavily overbought.
The RSI on spot silver climbed close to near 89, its highest since April 1987.
The gold market may have topped out, and now is the time to sell while there are still people willing to buy, said Barry Schwartz, vice president and portfolio manager at Toronto-based wealth manager Baskin Financial Services.
However, Shanghai CIFCO's Li said gold has more steam to run on and expected prices to peak at $1,550 by the end of the second quarter, buoyed by the Middle East unrest, sovereign debt concerns on both sides of the Atlantic and inflation worries.
The Shanghai Gold Exchange has started a trial for over-the-counter trading, providing a convenient tool for institutional clients to trade large quantities of gold, to catch up with exploding investment demand in China.
Holdings in the physically backed exchange-traded precious metals funds dipped ahead of the long Easter weekend. SPDR Gold Trust, the world's biggest gold ETF, saw holdings dip 0.6 metric tons to 1,229.643 metric tonne.
Financial markets in Singapore and Hong Kong are closed on Friday for a public holiday, and Hong Kong will remain closed on Monday.
(Editing by Himani Sarkar)
REFERENCE : REUTERS
Thursday, April 21, 2011
Ekonomi
BNM campur tangan elak kenaikan ringgit
SINGAPURA 20 April - Bank Negara Malaysia (BNM) berserta bank pusat dari Korea Selatan dan Thailand telah bertindak untuk campur tangan dalam pasaran kewangan bagi memperlahankan lonjakan mata wang masing-masing.
Mata wang ketiga-tiga negara meningkat manakala dolar Singapura dan Australia yang berada di paras tertinggi berbanding dolar Amerika Syarikat (AS).
Keputusan Bank of China untuk mengawal yuan yang berada di paras tertinggi berbanding dolar AS menguatkan kedudukan mata wang Asia yang mengalami peningkatan.
Pada masa yang sama, bank-bank pusat di rantau ini telah mengetatkan polisi monetari mereka bagi membendung kenaikan inflasi.
Lagi
Sumber : Utusan Malaysia 21.04.2011
SINGAPURA 20 April - Bank Negara Malaysia (BNM) berserta bank pusat dari Korea Selatan dan Thailand telah bertindak untuk campur tangan dalam pasaran kewangan bagi memperlahankan lonjakan mata wang masing-masing.
Mata wang ketiga-tiga negara meningkat manakala dolar Singapura dan Australia yang berada di paras tertinggi berbanding dolar Amerika Syarikat (AS).
Keputusan Bank of China untuk mengawal yuan yang berada di paras tertinggi berbanding dolar AS menguatkan kedudukan mata wang Asia yang mengalami peningkatan.
Pada masa yang sama, bank-bank pusat di rantau ini telah mengetatkan polisi monetari mereka bagi membendung kenaikan inflasi.
Lagi
Sumber : Utusan Malaysia 21.04.2011
Friday, April 15, 2011
Kedai emas semakin lengang
Oleh ADHAM SHADAN
adham.shadan@kosmo.com.my
KEADAAN salah sebuah kedai emas yang semakin kurang dikunjungi pelanggan di Kota Bharu semalam.
KOTA BHARU – Kenaikan harga emas menyebabkan para peniaga emas di sini berdepan dengan keperitan ekoran jumlah pelanggan semakin berkurangan sejak awal tahun ini.
Tinjauan Kosmo! petang semalam mendapati kebanyakan kedai emas yang beroperasi di bandar ini lengang dan kurang dikunjungi pelanggan.
Seorang penjual emas, Normalina Ahmad, 38, memberitahu, keadaan kini sangat jauh berbeza berbanding 10 tahun lalu apabila kedai emas menjadi tumpuan ramai.
“Satu ketika dulu, 20 pelanggan datang membeli barang kemas setiap hari. Sekarang ini cuma tiga hingga empat pelanggan sehari dan kami lebih banyak duduk termenung di kedai.
“Ia bukan sahaja kerana harga emas naik, tapi juga disebabkan kaum wanita takut memakai barang kemas kerana bimbang diragut,” katanya di sini semalam.
Kosmo! semalam melaporkan harga emas diramal melambung tinggi dan bakal mencecah harga RM4,840 satu auns (28.3 gram) pada tahun ini.
Harga emas naik secara berterusan sejak 2001 dan mencapai paras tertinggi iaitu RM4,472.23 satu auns pada Januari lalu gara-gara kebimbangan pelabur terhadap kadar inflasi kejatuhan nilai dolar serta kekacauan di Asia Barat.
Seorang lagi peniaga kedai emas, Nani Ali, 36, berkata, walaupun harga emas naik namun ia tidak memberi keuntungan kepada peniaga komoditi itu.
“Apabila harga naik, orang tak mahu datang beli. Kebanyakan peniaga emas pening kepala dan kalau keadaan ini berterusan, mungkin ada yang terpaksa tutup kedai,” katanya.
SUMBER : KOSMO 15.04.2011
adham.shadan@kosmo.com.my
KEADAAN salah sebuah kedai emas yang semakin kurang dikunjungi pelanggan di Kota Bharu semalam.
KOTA BHARU – Kenaikan harga emas menyebabkan para peniaga emas di sini berdepan dengan keperitan ekoran jumlah pelanggan semakin berkurangan sejak awal tahun ini.
Tinjauan Kosmo! petang semalam mendapati kebanyakan kedai emas yang beroperasi di bandar ini lengang dan kurang dikunjungi pelanggan.
Seorang penjual emas, Normalina Ahmad, 38, memberitahu, keadaan kini sangat jauh berbeza berbanding 10 tahun lalu apabila kedai emas menjadi tumpuan ramai.
“Satu ketika dulu, 20 pelanggan datang membeli barang kemas setiap hari. Sekarang ini cuma tiga hingga empat pelanggan sehari dan kami lebih banyak duduk termenung di kedai.
“Ia bukan sahaja kerana harga emas naik, tapi juga disebabkan kaum wanita takut memakai barang kemas kerana bimbang diragut,” katanya di sini semalam.
Kosmo! semalam melaporkan harga emas diramal melambung tinggi dan bakal mencecah harga RM4,840 satu auns (28.3 gram) pada tahun ini.
Harga emas naik secara berterusan sejak 2001 dan mencapai paras tertinggi iaitu RM4,472.23 satu auns pada Januari lalu gara-gara kebimbangan pelabur terhadap kadar inflasi kejatuhan nilai dolar serta kekacauan di Asia Barat.
Seorang lagi peniaga kedai emas, Nani Ali, 36, berkata, walaupun harga emas naik namun ia tidak memberi keuntungan kepada peniaga komoditi itu.
“Apabila harga naik, orang tak mahu datang beli. Kebanyakan peniaga emas pening kepala dan kalau keadaan ini berterusan, mungkin ada yang terpaksa tutup kedai,” katanya.
SUMBER : KOSMO 15.04.2011
Lonjakan harga emas
HARGA emas dijangka meningkat sehingga RM4,840 satu auns pada tahun ini. - Gambar hiasan
LONDON - Harga emas dunia diramal meningkat sebanyak 13 peratus pada tahun ini menjadikan harga logam itu mencecah sehingga AS$1,600 (RM4,840) bagi satu auns (28.3 gram).
Kenaikan itu berterusan sejak 2001 didorong oleh kebimbangan terhadap inflasi yang tinggi dan kadar faedah global yang rendah.
"Kami tidak akan terkejut jika melihat harga emas melepasi AS$1,600 sebelum hujung tahun ini," kata Pengerusi Eksekutif firma penyelidikan GFMS Ltd., Philip Klapwijk dalam laporan terbarunya yang disiarkan semalam.
Ramalan itu tidak berubah daripada jangkaan awal yang dikeluarkan pada Januari lalu selepas harga emas mencatat harga tertinggi dalam sejarah iaitu AS$1,478.18 (RM4,472.23) bagi setiap auns di London pada Isnin lalu.
"Para pelabur terus bimbang mengenai inflasi dan kerajaan-kerajaan dilihat kurang berminat untuk mengetatkan polisi kewangan. Kedudukan kewangan kerajaan juga menjadi alasan kenapa pelabur kekal fokus terhadap pasaran emas.
"Penerimaan kenaikan harga oleh para pengguna akan membantu meningkatkan permintaan terhadap barang kemas selain menyediakan platform kukuh untuk pelabur menaikkan harga emas menjadi lebih tinggi," kata Klapwijk.
Sumber : KOSMO 14.04.2011
LONDON - Harga emas dunia diramal meningkat sebanyak 13 peratus pada tahun ini menjadikan harga logam itu mencecah sehingga AS$1,600 (RM4,840) bagi satu auns (28.3 gram).
Kenaikan itu berterusan sejak 2001 didorong oleh kebimbangan terhadap inflasi yang tinggi dan kadar faedah global yang rendah.
"Kami tidak akan terkejut jika melihat harga emas melepasi AS$1,600 sebelum hujung tahun ini," kata Pengerusi Eksekutif firma penyelidikan GFMS Ltd., Philip Klapwijk dalam laporan terbarunya yang disiarkan semalam.
Ramalan itu tidak berubah daripada jangkaan awal yang dikeluarkan pada Januari lalu selepas harga emas mencatat harga tertinggi dalam sejarah iaitu AS$1,478.18 (RM4,472.23) bagi setiap auns di London pada Isnin lalu.
"Para pelabur terus bimbang mengenai inflasi dan kerajaan-kerajaan dilihat kurang berminat untuk mengetatkan polisi kewangan. Kedudukan kewangan kerajaan juga menjadi alasan kenapa pelabur kekal fokus terhadap pasaran emas.
"Penerimaan kenaikan harga oleh para pengguna akan membantu meningkatkan permintaan terhadap barang kemas selain menyediakan platform kukuh untuk pelabur menaikkan harga emas menjadi lebih tinggi," kata Klapwijk.
Sumber : KOSMO 14.04.2011
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