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Gold
« Sticky post on: October 06, 2008, 02:26:47 PM »

« Last Edit: June 11, 2012, 09:51:37 AM by M&M »

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Gold
« Reply #-1 on: October 06, 2008, 02:26:47 PM »

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Gold
« on: October 06, 2008, 02:26:47 PM »

« Last Edit: June 11, 2012, 09:51:37 AM by M&M »

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Re: Gold
« Reply #1 on: October 07, 2008, 12:29:38 PM »
Gold Advances on Haven Buying as Equities, Commodities Tumble

By Feiwen Rong

Oct. 7 (Bloomberg) -- Gold climbed for a second day on increased demand for a haven as the credit crisis deepened in Europe and equities and commodities tumbled worldwide.

Global shares plunged yesterday, erasing more than $2 trillion in market value, and crude oil dropped below $90 a barrel for the first time since February. Gold gained 2.9 percent after tumbling 4.9 percent last week as the U.S. passed a $700 billion package to bail out banks.

Gold ``benefited from safe haven flow'' amid ``increasing pessimism over the international economic outlook'', David Moore, commodity strategist at Commonwealth Bank of Australia in Sydney, said in a report today.

Bullion for immediate delivery advanced 0.8 percent to $866.17 an ounce at 9:13 a.m. in Singapore. Silver for immediate delivery gained 1.1 percent to $11.1650 an ounce.

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Re: Gold
« Reply #2 on: October 07, 2008, 02:05:52 PM »

um@ir

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Re: Gold
« Reply #3 on: October 08, 2008, 12:08:38 PM »
When and how to invest in gold ????

National commodity Exchange

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Re: Gold
« Reply #4 on: October 08, 2008, 02:22:26 PM »
KARACHI: Gold spiralled by Rs1,028 to Rs22,242 per 10 grams on Tuesday in a race to keep pace with international bullion prices that have also hiked.

The yellow metal climbed on the second day on increased demand for safe haven as credit crisis deepened in Europe and equities and commodities tumbled worldwide.

The precious yellow metal stood at Rs25,950 per tola compared to Rs24,750 per tola just a day earlier. Local gold last crossed the 22,000 barrier on July 27 and therefore it was on an almost 10-week high.

All-Pakistan Supreme Council of Jewellers Association President Alhaj Haroon Rashid Chand said the local bullion market was in frenzy over the sudden hike and gold dealers feared that prices would rise beyond reach once again. He expatiated there was not much of a difference in the business of dealers as the market remained slow.

However, he stated some investors had already returned to the gold market to sell their gold to make a profit.

In the international bullion market, gold hiked by $49.50 an ounce and reached $887 an ounce on Tuesday.

The bulliondesk.com reported gold increasing all around the world increased on account of the global shares plunge the day before yesterday, erasing more than $2 trillion in the market value.

Furthermore, crude oil has dropped below $90 a barrel for the first time since February. Gold gained 2.9 percent after tumbling 4.9 per cent last week as the US passed a $700 billion package to bail out banks.

Meanwhile European shares slipped sharply, having risen more than 2.5 per cent in early trading, as banks tumbled on reports of additional funding needs.

The dollar, a key external driver of gold, also weakened slightly as traders hoped the Bank of Australia’s rate cut would be replicated by other banks, possibly boosting economic activity, enunciated the website.

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Re: Gold
« Reply #5 on: October 10, 2008, 04:32:27 PM »
Gold 924.80 up 38.30 up4.32%

Offline Sadiq Jafri

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Re: Gold
« Reply #6 on: October 10, 2008, 05:01:53 PM »
Gold futures, currently.....resistance at 949.50


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Re: Gold
« Reply #7 on: October 13, 2008, 07:53:05 PM »
Japan May Want to Buy Gold, Not Morgan Stanley: William Pesek

Oct. 13 (Bloomberg) -- None more so than the folks at Mitsubishi UFJ
Financial Group Inc., who are about to sink $9 billion into Morgan
Stanley. That move seemed brilliant when it was announced last month.
Today, it looks a bit troublesome as shares in the fifth-biggest U.S.
bank-holding company drop.

Moody's Investors Service said Oct. 10 that Morgan Stanley's credit
rating may be cut as the global market slump threatens profits. Chief
Executive Officer John Mack last week dismissed rumors Mitsubishi UFJ
was having second thoughts. According to reports today, the banks are
discussing altering the terms of the deal.

Should Mitsubishi UFJ pull out? One really has to wonder.

Given the way markets are cascading lower and global recession risks
are growing, Japan's biggest bank is almost better off speculating in
companies that produce scotch, canvas tents and canned soup. And then
there's gold, which will surge further as the dollar's value dwindles.

Mitsubishi UFJ sees Morgan Stanley as a long-term investment, a chance
to grab a piece of a fabled Wall Street giant humbled by market
turmoil. And relative to U.S. peers, Japan's banks are solid, having
spent the 2000s writing down bad loans and avoiding risky,
hard-to-value investments.

Wouldn't it be a shock if after years of conservatism, a major
Japanese bank lost big on a renewed foray overseas?

Acquisitive Japan

Much has been made of how Japanese companies are increasing foreign
acquisitions, using their cash-hoards to grab assets beaten down by
the credit crisis and unfolding economic slowdown.

Takeovers by companies including Nomura Holdings Inc., TDK Corp.,
Daiichi Sankyo Co. and, potentially, Mitsubishi UFJ put Japan on
course for its biggest buying spree since the 1980s bubble. Back then,
Japanese buyers overpaid in a huge way for assets such as New York's
Rockefeller Center and California's Pebble Beach Golf Links.

The key for Mitsubishi UFJ CEO Nobuo Kuroyanagi is to heed the lessons
of Japan's bubble years. Complicating things is how difficult it is to
value assets -- and, by extension, a company's worth -- in this market
environment.

Take Korea Development Bank's ill-fated flirtation with Lehman
Brothers Holdings Inc. The South Korean bank offered $6.40 a share for
a controlling stake in Lehman in the weeks preceding the U.S. firm's
bankruptcy last month. Lehman CEO Richard Fuld wanted more.

Asia's Power

The unraveling of the deal left the Korean bank looking quite savvy
given what we later found out about Lehman's health. It displayed the
real power of savings-rich Asia as U.S. companies bleed capital.

The saga also may get Fuld into hot water. On Oct. 7, U.S. lawmakers
grilled him about a Sept. 10 conference call in which he said Lehman's
capital reserves were adequate. Representative John Mica, a Florida
Republican, asked whether Fuld knew then that Lehman wasn't getting an
investment of $3 billion to $5 billion from Korea Development Bank.
Fuld said: ``There certainly was no intent to mislead.''

Betting on Morgan Stanley is an even bigger roll of the dice for
Mitsubishi UFJ. On one level, Morgan Stanley would seem as good as any
U.S. financial company in which to grab a 21 percent stake. On
another, who really knows these days?

Risk Factor

In its statement, Moody's hardly suggested the firm is a basket case.

``Morgan Stanley's recent performance has been relatively solid, it
has acted to solidify its capital base, it has maintained a good
liquidity profile, and it has benefited from a level of systemic
support that is factored into the rating,'' Moody's said.

For Mitsubishi UFJ, the risk is quite different from Nomura's purchase
of Lehman's Asia-Pacific business. Nomura bought the carcass of a
bankrupt company without taking on a potentially risky balance sheet.
Mitsubishi UFJ risks buying into a terminally ill patient.

The point isn't to pick on Morgan Stanley. Yet one is hard- pressed to
rule out a bad ending for the gamut of financial institutions amid
such turmoil.

Consider the experience of sovereign wealth funds. How happy can China
be with its multibillion- dollar investments in Blackstone Group LP and
Morgan Stanley. Ditto for Singapore, which invested in Merrill Lynch & Co.

It's impossible to know what Mitsubishi UFJ will do. If it sticks to
Plan A, the Morgan Stanley deal could be closed as soon as tomorrow,
when the Federal Reserve-imposed waiting period expires. Or Mitsubishi
UFJ may renege, concluding it risks throwing good money after bad as
economies swoon.

Weighing the interests of shareholders won't be easy. If markets
rebound soon, Mitsubishi UFJ stockholders will cheer the deal. If
Morgan Stanley goes the way of Lehman or Bear Stearns Cos., investors
will be livid.

Whatever Mitsubishi UFJ decides, one thing is clear: The risk of
buyer's remorse has never been bigger in a global system that has
never been so shaky.
Money doesn't create man but it is the man who created money.

Offline Learner7

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Re: Gold
« Reply #8 on: October 14, 2008, 06:07:43 PM »
Gold Measurements

One troy ounce = 31.1034768 grams. Thus if gold were at US$850 per ounce, a gold gram would be worth just over US$27.

Note where gold is measured in ounces, these are troy ounces, not the much more common avoirdupois ounce which is used for measuring weights in food etc. An avoirdupois ounce is lighter than a troy ounce. One avoirdupois ounce = 28.349523125 grams.

One tonne = 1000 kilograms = 32,150.746 troy ounces (value US$27,617,490 as of Oct. 10, 2008).
One kilogram = 1000 grams = 32.15074656 troy ounces (value US$27,617.49 as of Oct. 10, 2008).
One tael = 50 grams (value US$1,218.03 as of Oct. 15, 2007).

This is the official rate of taels in mainland China since the country went metric. In Taiwan and Hong Kong today a tael is equivalent to 37.429g.

Gold is very dense (19.3 g/cm³), to the extent that ten million U.S. dollars' worth occupies less than one cubic foot.

US $                       =   850   Ounce OZ
Troy Ounce              =   31.10348   Grams
One Gram Gold US $ =   27.328   
Exch. Rate $ to Rs.   =   80   Rupees
One Gram Gold         = Rs.           2,186    
10 Gram Gold           = Rs.          21,863    
100 Gram Gold         = Rs.     2,186,251    
      
      
One Tula                 =    11.664   Gram
One Gram Gold        = Rs.           2,186    
One Tula Gold         = Rs.          25,500    
10 Tula Gold           = Rs.       255,004    


Offline Sadiq Jafri

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Re: Gold
« Reply #9 on: October 14, 2008, 07:48:51 PM »
I would consider shorting Gold Mini futures on a close below 828

Offline Learner7

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Re: Gold
« Reply #10 on: October 15, 2008, 08:54:23 AM »
If you wanna short at 828 then why you don't short at the present level $ 845?

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Re: Gold
« Reply #11 on: October 15, 2008, 03:43:57 PM »
828 is support. A breach of support (or resistance) tends to make the price move quickly in the direction of the breach. Right now it can sit or move around the 840-850 level for a while. I have no personal preference. If it moves above resistance, I'll buy.  :)

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Re: Gold
« Reply #12 on: October 16, 2008, 07:51:44 PM »
LEEE  maLL goldddddddddddddddddddddddddd  792
Money doesn't create man but it is the man who created money.

Offline Farzooq

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Re: Gold
« Reply #13 on: October 16, 2008, 08:45:51 PM »
lao gold 750 karo
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Offline Sadiq Jafri

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Re: Gold
« Reply #14 on: October 16, 2008, 08:47:13 PM »
mashallah! good short term trade  ;D

the fall below 828, as stated above, prompted support to be taken out and resulted in a wave of selling....

on the gold mini futures contracts a 1 dollar fall in gold price translates into 33.2 dollar profit.....

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Re: Gold
« Reply #15 on: October 16, 2008, 08:49:04 PM »
lao gold 750 karo
aaee  ga 750  parr  bhe  ajj 13 data  anay  thay  US  kay  jin  ma  say  srif  ik  theek  aea  hay bake  sab  kharab  aae  hain ik  baki  ha  Crude Oil Inventories  ka  us  ka  anay  do or  pahir dakho tamashaa  ;)
Money doesn't create man but it is the man who created money.

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Re: Gold
« Reply #16 on: October 16, 2008, 08:54:46 PM »
gold support 1 on yg mini's at around $747 now

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Re: Gold
« Reply #17 on: October 16, 2008, 10:17:38 PM »
lao gold 750 karo
aaee  ga 750  parr  bhe  ajj 13 data  anay  thay  US  kay  jin  ma  say  srif  ik  theek  aea  hay bake  sab  kharab  aae  hain ik  baki  ha  Crude Oil Inventories  ka  us  ka  anay  do or  pahir dakho tamashaa  ;)

Oil below 70 leeeee oil
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Offline Learner7

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Re: Gold
« Reply #18 on: October 17, 2008, 09:16:59 AM »
828 is support. A breach of support (or resistance) tends to make the price move quickly in the direction of the breach. Right now it can sit or move around the 840-850 level for a while. I have no personal preference. If it moves above resistance, I'll buy.  :)

Good Analysis. Weldone.

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Re: Gold
« Reply #19 on: October 17, 2008, 09:19:58 AM »
...............
on the gold mini futures contracts a 1 dollar fall in gold price translates into 33.2 dollar profit.....

Please clarify how 1 $ fall  =  33.2 $ profit ?