More liquidity lifted global stocks & commodities

Rumours of more liquidity into the markets by major central banks  after the Greek election  lifted equities and commodities..
Aussie dollar broke above parity trading today at 1.002

Gold held onto its gain to trade at USD 1625 on speculation that the FOMC meet next week will bring QE on the table ...

However price of CPO fell further to USD 855 ...

Gold dives on BB's testimony bf. JEC

 Gold in USD plunges after Bernanke's testimony indicates no plans for immediate stimulus although Fed is ready to take action if financial troubles escalate.
Gold drop from 1625 to 1585, shedding 40 dollars

Gold in AUD dived from 1630 to 1595 ..

AUD lost half a US cent from 99.8 to 99.3
Since Monday 4th Jun, it has spiked from 96.3 gaining 3 cents on less than expected interest rate cut of 0.25 percent and better GDP numbers ...

Impending Impact on AUD & USD. Gold @ 1620

RBA to fix cash/interest rate, Tues 5th 12.30pm followed by announcement of employment change and unemployment rate the following day at 9.30am

US jobless claims report is due out on Thurs 7th at 8.30pm followed by B Bernanke's testimony on the economic outlook and policy.
FOMC will meet on 19th June and make a statement on Thurs 21st ..

Greek parliamentary election is on Sun 17th June.

Gold hovering at 1620 USD.
Don't buy yet: wait for it to dip 1555 - 1575 level ...

Gold goes ballistic. USD climbs.

Gold goes ballistic with an almost 4 percent gain to reach 1626 USD.

 US job data for May indicates addition of 69 k instead of the expected 158 k, prompting traders to bet on additional QE (which is positive for gold) when operation Twist ends in June ...

Gold trades for 1677 Aussie dollars 

Meanwhile commodities index CRB continues to slide to 268 on China slowing growth

USD climbs slowly from 3 Ringgit in March to touch  RM 3.20
Will it rise to 2009 high of RM 3.6 ..??
CPO fell below USD 1000; at 941

Weekly Gold in Aussie and US dollars

 Gold sells between 1580 to 1540 US dollars

Current spot 1560

 

Aud trades between 99 to 97 US cents
Current spot 97.3 US cents

Gold sells between 1610 to 1580 Aussie dollars

Current spot 1600

Get more when you sell your gold in AUD
It also means it takes more to buy gold in AUD

 

Gold. HSP. HSC. Unico. Boustead. GenP. KLK. IJMP

Gold chart shows weekly range between recent low of 1540 to high of 1600 .. Xau sells for 1580 USD today ...

Immediate resistances 1582, 1588, 1593
supports 1570, 1565, 1558

Poor earnings continue to afflict planters:
Hap Seng Plant (nta 250. Q/Q 7.2/ 9.5/ 8.5/ 6.6/ 5.4 sen) Latest Qeps declined almost 20 percent from previous ..
Hap Seng Cons (nta 150, QQ 4.8/ 4.4/ 5.1/ 3.9 sen) Latest Qeps plunged 25 percent
Unico (nta 96, QQ 1.5/ 2.6/ 2.2/ 2.1/ 1.8 sen) Latest Qeps slid 15 percent
Boustead (nta 443, QQ 11.9/ 19.7/ 12.9/ 18.6/ 14 sen) Earnings dropped 25 percent
Gent Plant (nta 430, QQ 12.4/ 18.4/ 15.0/ 12.4/ 10.4sen) Qeps down by 16 percent
KLK Plant (nta 658. QQ 35/ 40/ 43/ 32/ 20sen) Qeps tumbled by 40 percent
IJM Plant (nta 173, QQ 3.2/ 6.2/ 5.9/ 6.7/ 0.9 sen) Qeps dive by 80 percent

Fancy this : Impala Platinum

Gold to test 1600 USD next week

Gold weekly range between 1540 to 1600 USD ... Time to get physical if ever it dips again ... In fact, it's good opportunity to accumulate now ...

Commodities continue to drift lower ...

Gold seen drifting to 6, 9, 12 months low at 1535 USD. It has broken the long term rising support trendline at 1600 and is seen for the 3rd time attempting to break below the 1510 level .. Gold has since lost 8 percent since the beginning of May from 1660 level ..  

Aussie dollar exhibits similar pattern as it slides below parity, buying just 99 US cents .. Aussie has since fallen 8 percent from recent high ...  Both the Aussie and Gold are oversold ...

CRB index falling below October and December 2011 low of 294 ..

When you look at all these, it sure makes you wonder how come the Malaysian commodities prices, currencies and stocks have not corrected accordingly ..?

Commodities headed for violent correction again ..?

Gold plunges big time- from USD 1638 to 1580, a drop of 3.7 percent on renewed fears of Euro crises ( Greece political uncertainty, Spanish banks frailty, France new president fight against austerity) gripped investors ...This is bad news for gold investors as gold broke the uptrend line at 1620 ... And it could get even cheaper as gold struggles to find support ... < Er, good news for those aiming to buy gold at super low price with our strong Ringgit.  >

Commodity currency Aussie dollar continues to dive towards parity with the US dollar after federal government posted a budget surplus, signalling further rates cut may be on the table. Just a week ago RBA have knife cash/interest rate by 0.5 percent to 3.7           < Good for those funding kids studying  in Australia.  >

CRB over one year period showing the index falling from last year July highest to October lowest. Index seen sliding from recent high in March to current low ... Game over for commodities and its currencies ..? Are these the things to come for the Malaysian stocks market, cash interest rate cuts and its currency Ringgit .? I would have to say, YES, in the right sense of mind ...

AUD & Gold breakout

AUD/USD chart D1.

AUD broke out from a descending channel. 

Looks like it's forming an ascending channel.

Set to test 1.048 and 1.052

AUD/USD chart H4.

Aud touched 1.044

But hold your horses, Aud may dive if RBA meets on Tuesday 1st May (Malaysian time 12.30pm) to cut its cash/interest rate.

Gold similarly broke out from a descending channel on Friday slower-than-expected US growth data and as traders expected another round of QE.
Gold will likely test 1670 and 1680 levels ..

Gold consolidates before next move. Aussie down.

 Gold consolidates at USD 1640 level, eyeing FOMC meeting on Weds 25th April to discuss economic & monetary projections..
Will gold breakout to test its recent high or breakdown ..?
Resistances at 1658, 1665, 1686
Supports at 1634, 1625, 1610
Aussie down on weak PPI (producer price index):  buys 103.3 US cents
Resistances at 1.040 , 1.044 , 1.048
Supports at 1.031 , 1.029 , 1.026
Buy below 1.030

Gold and Aussie recovers.

Gold recovers as last week US jobs data fell short of expectation, raising speculation that a QE is not off the table yet ...
Commodity currency Aussie dollar was up at 103.5 US cents this morning ...

A short review for those holding gold .. Daily price of gold has not plunge below the critical support of USD 1600 which is on the long term uptrend line ...

On H4 chart, prices have recovered from recent low of USD 1612 and currently hovering at 1652. It is approaching a resistance at 1665 on a short-term downtrend line. Traders will be watching if it breaks out ..

Global equities retreat further after Fed minutes

Global equites and commodities fell sharply after release of FOMC minutes suggest that no further easing is in the pipeline.


Commodity currency Aud and precious metal gold continues to
slide while USD rose against all majors.
Aud was seen at 1.025 USD within a descending channel.
Gold plunges to 1615 USD ...

Bernanke's speech moves stocks & commodities

Global equities and commodities rose on Bernanke's latest statement on continuing accomodative easing monetary policies to hasten economy recovery, real wages and job employment.
Commodity currency AUD rose from 1.045 to 1.053

Gold gain more than 2 % from 1660 to touch 1694 US dollar

Gold still down but seen recovering

People asked if they should take profits on their holdings of physical gold that they have bought much earlier ...?
Well, the answer is yes if you are in dire need of cash or if you can quickly trade other financial instruments that can yield better profits on a short to medium term.
No if you're just cashing out and sitting on it.
Chartwise (first) on weekly timeframe, gold hasn't broken below the trendline that started in 2009 although it has dropped below the SMA50 (not indicated).

Second chart on a 4 hour timeframe shows gold suffered a double plunge from 1788 US dollar at end Feb and has descended to current level of 1655.
Let's see if gold can breakout from this pattern in the next few days ...

Gold inching up after plunge

Gold at US dollar 1660 level after plunging to as low as 1640.
My position before Tuesday's release of US economic data at USD1,710 level posted a weekly loss of approximately 3 %. I guess that's just bad market timing: should have waited till Wedsnesday or Thursday when they revealed the banks' stress test results... Oh well, we all have our lesson to learn .. Cheers ..

Dollar advances on growth data

The dollar gained against most of its major counterparts as stronger U.S. economic data boosted bets the Federal Reserve won’t add to monetary stimulus, bolstering demand for the currency…



Aussie sliding to 1.05 against USD


Gold plunges again from 1700 to 1670, posting a 1.8 % loss

Aud slides against Myr while Gold recovers

Aussie dollar slides against Ringgit, posting a weekly loss of 1.6 %
A weaker Aussie means it will take more to buy Xau (Gold)


Gold now sells for 1620 Aussie dollar







Gold climbing to USD 1713.
I'm taking a long position on gold at this level

Gold continues to slide

Gold drops to 1672 US dollar






Gold sells for 1582 Aud






Aud tumbles against Myr at 3.19 level

Gold fell by 5 % as Bernake signal no further QE

Gold in US dollar took a hit as Fed Reserve chairman puts a brake on further QE.
Gold fell below USD 1700 but managed to recover to 1720 level.



Gold plunges from Aud 1660 to 1570.
Climbing to 1600 level