In the precious metals markets this week

In the precious metals markets this week . . .

GOLD:
Monex spot gold prices opened the week at $1,605 . . . traded as high as $1,619 on Thursday and as low as $1,589 on Monday . . . and the Monex AM settlement price on Friday was $1,606, up $1 for the week.

SILVER:
Monex spot silver prices opened the week at $29.05 . . . traded as high as $29.54 on Tuesday and as low as $28.78 on Monday . . . and the Monex AM settlement price on Friday was $29.13, up $.08 for the week.

Kenapa Perlu Membeli Emas ?

Kenapa Perlu Membeli Emas ?

2011 19-23 Gold Silver Analysis

GOLD:
Monex spot gold prices opened the week at $1,675 . . . traded as high as $1,677 on Tuesday and as low as $1,560 on Thursday . . . and the Monex AM settlement price on Friday was $1,594, down $81 for the week.  Gold support is now anticipated at $1,576, then $1,535, and then $1,465 . . . with resistance anticipated at $1,617, then $1,658, and then $1,727.

SILVER:
Monex spot silver prices opened the week at $31.10 . . . traded as high as $31.93 on Tuesday and as low as $28.45 on Tuesday . . . and the Monex AM settlement price on Friday was $29.50, down $1.60 for the week.  Silver support is now anticipated at $29.27, then $28.50, and then $27.78 . . . and resistance anticipated at $29.85, then $30.90, and then $31.48.

Gold as a banking reserve

The unsuitability of using gold in coins for cash transactions at the small end of the monetary scale is not the only barrier to a gold centred currency. There are other difficulties in using a gold based currency where large sums are involved.

For example, in modern economies normal practice is that salaries are paid at the end of the month. There are more than twenty million workers in the UK alone, and their earnings exceed $3,000 per month. So they are issued with $60 billion at each month end. This is equivalent to about 6,000 tonnes of gold and is a figure achieved without taking into account any savings, or any of the substantial monetary floats required to support non-salary related corporate and government expenditure.

Yet the entire British central bank reserve is only about 400 tonnes, which shows that Britain (like any other western country) could not possibly underpin with gold the supply of its national currency necessary to support the prevailing level of economic activity, at least not without a massive increase in the pound sterling value of gold.

Token coinage systems

Any coin collection will clearly show that by far the most common systems for coinage are indeed based on token values. Governments decree that a given coin, worth in metallic terms substantially less than its monetary face value, constitutes a legal payment of a debt. To support this construct it has been necessary to forbid independent manufacture of coins, and to assist enforcement by making the technology of coin production relatively difficult to copy.

Deliberately overvalued coins tend to stay in circulation precisely because they have no intrinsic metallic value, which is a material advantage to the state, and even though in such systems silver and gold coins are occasionally allowed to circulate in parallel and in modest numbers their circulation generally declines (Gresham's Law again).

Gold, Silver Analysis For Next Week

GOLD:
Monex spot gold prices opened the week at $1,735 . . . traded as high as $1,750 on Thursday and as low as $1,704 on Tuesday . . . and the Monex AM settlement price on Friday was $1,714, down $21 for the week.  Gold support is now anticipated at $1,706, then $1,675, and then $1,614 . . . with resistance anticipated at $1,728, then $1,754, and then $1,779.

SILVER:
Monex spot silver prices opened the week at $32.62 . . . traded as high as $33.12 on Thursday and as low as $31.44 on Thursday . . . and the Monex AM settlement price on Friday was $32.22, down $.40 for the week.  Silver support is now anticipated at $32.06, then $30.95, and then $29.80 . . . and resistance anticipated at $32.80, then $33.78, and then $35.33.

Gold bullion coins

The standard weights of bullion coins are: one ounce, half ounce, quarter ounce and tenth ounce. Other weight of gold coins available include twentieth ounce, one twenty-fith of an ounce, two ounces, ten ounces, and one kilo.

There are a number of gold bullion coins in circulation in the world. The attraction of these is that they retain near full bullion value regardless of either change of government or being transported outside their country of issue.

The major bullion coins:

Issuing Country	Coin	Available fractions	Fine gold content (full coin)
Australia	Nugget	10, 2, 1, 0.5, 0.25, 0.1	31.104 grams
Canada	Maple	1, 0.5, 0.25, 0.1, 0.0667 (1/15th), 0.05 (1/20th)	31.104 grams
South Africa	Krugerrand	1, 0.5, 0.25, 0.1	31.104 grams
United Kingdom	Britannia	1, 0.5, 0.25, 0.1	31.104 grams
United Kingdom	Sovereign	1, 0.5	7.315 grams
United States	Eagle	1, 0.5, 0.25, 0.1	31.104 grams

Note: 31.104 grams = 1 troy oz.

Gold coins were hardly produced anywhere between 1933 and 1965. Then, once the private demand for gold ownership had been nearly extinguished, it was finally the South Africans who started minting again in earnest from 1967. But there are still very few gold coins around, and currently there is nowhere that they circulate effectively as money.

There are practical problems with gold being used directly as physical legal money. It is too valuable to represent the smallest required unit of currency. For instance, in America, a dime (ten cents) is equivalent to rather less than 1/100th of a gram of gold. The physical size of a dime's worth of gold is a cube of edge 0.8 millimetres, i.e. about the size of a crystal of brown sugar. This is far too small to be practical. The smallest usable coin really needs a volume of at least 150 times larger. This makes token coinage a necessity.

Gold & Silver Analysis For Next Week

GOLD:
Monex spot gold prices opened the week at $1,717 . . . traded as high as $1,758 on Friday and as low as $1,709 on Monday and Tuesday . . . and the Monex AM settlement price on Friday was $1,747, up $30 for the week.  Gold support is now anticipated at $1,740, then $1,723, and then $1,681 . . . with resistance anticipated at $1,755.50, then $1,768, and then $1,807.

SILVER:
Monex spot silver prices opened the week at $32.00 . . . traded as high as $33.65 on Friday and as low as $31.70 on Tuesday . . . and the Monex AM settlement price on Friday was $32.57, up $.57 for the week.  Silver support is now anticipated at $32.36, then $31.18, and then $29.97 . . . and resistance anticipated at $33.04, then $33.78, and then $35.33.

Gold used as money

Because of its rarity, gold imposes scarceness, which is what occasionally makes it useful as money. However, historical precedent indicates it is not always in politicians' interest to keep money scarce. Whether or not a physical manifestation of money, in the form of bullion, is a desirable thing is open to debate at any given time. But if a monetary material of reliable scarceness is desirable then gold is still as appropriate as ever. The investment question concerning gold is not whether or not it reliably imposes scarceness, which it does, but whether or not such reliable scarceness will in the future be required by savers.

Because the significant majority of people currently believe that governments and central banks have sufficient skill to manage the supply of money gold's use as a monetary material has waned, especially over the last 70 years. This is a regular pattern. Gold will quietly slip into the background when paper money becomes widespread because, as the famous Gresham's Law says "bad money drives good money out of circulation". But part of the mystery of money concerns gold's cyclical re-appearance, which the following section aims to explain.

Precious Metal This Week Analysis

GOLD:
Monex spot gold prices opened the week at $1,780 . . . traded as high as $1,786 on Monday and as low as $1,714 on Friday . . . and the Monex AM settlement price on Friday was $1,724, down $56 for the week.  Gold support is now anticipated at $1,711, then $1,684, and then $1,667 . . . with resistance anticipated at $1,729, then $1,748, and then $1,775.

SILVER:
Monex spot silver prices opened the week at $34.43 . . . traded as high as $34.79 on Tuesday and as low as $31.09 on Thursday . . . and the Monex AM settlement price on Friday was $32.47, down $1.96 for the week.  Silver support is now anticipated at $32.09, then $31.22, and then $29.84 . . . and resistance anticipated at $32.58, then $33.08, and then $33.92.

Gold and Money

Throughout civilisation gold has been used as money, but the two are less closely related now than in the past.

Modern currencies (like many older forms of money) can have their supply expanded by diktat, usually by a government or a central bank. All modern money is subject to government in this way, which means that the value of savings is decided, to an extent, according to a political agenda.

Modern savers are exposed to any economic or political crisis which could cause money to be over-issued, so their long term prosperity depends on the reliability of the political mechanisms for imposing monetary scarceness.

Emas Pelindung Nilai Sebenar

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Banjir paksa penduduk jual emas

2011/10/30 - Berita Harian

Simpan sumber bekalan bimbang keadaan bencana alam di Thailand semakin buruk

BANGKOK: Penduduk Thailand dilaporkan mula mengambil langkah berjaga-jaga termasuk menjual emas untuk ditukarkan dengan wang tunai selain menyimpan bekalan makanan dan air minuman berikutan keadaan banjir yang dilaporkan semakin buruk. 

Pelanggan di sekitar Bangkok datang ke kedai kami sama ada The Old Siam atau Wong Wian Yai untuk menjual emas. Mereka berpendapat lebih baik menyimpan wang tunai berbanding emas dalam keadaan kecemasan sekarang, kata Pengerusi MTS Gold Futures, Kritcharat Hirunyasiri yang dipetik The Bangkok Post, semalam. Kedai kami biasanya tutup jam 5.30 petang tetapi kini kami melanjutkan operasi hampir jam 9 malam untuk menunggu wang tunai dari bank pusat berikutan overdraf wang tunai harian kami di bank sebanyak 500 juta baht (RM50 juta) tidak mencukupi.Syarikat itu menjual kira-kira 3.5 tan emas sehari bernilai 7 bilion baht (RM70.71 juta) sejak Jumaat hingga Isnin, tiga kali ganda lebih tinggi berbanding jualan biasa berikutan permintaan tinggi. 



Perniagaan kedai emas menyusut sehingga 40 peratus ketika banjir berikutan orang ramai lebih memerlukan wang tunai, kata Kritcharat. 

Pada masa Menteri Perdagangan Thailand, Kittiratt Na-Ranong menasihatkan penduduk tidak membeli telur jika harga terlalu mahal. 
Beliau berkata demikian sebagai maklum balas terhadap laporan peruncit dikatakan menjual telur sehingga 8 baht (80 sen) sebiji. 

Jika harga telur terlalu tinggi sehingga 8 baht sebiji, jangan beli. Cari makanan lain, katanya sambil menambah harga barang mahal berikutan kos termasuk pengangkutan kian meningkat. 

Jabatan Perlindungan Buruh dan Kebajikan melaporkan lebih 2,800 daripada 740,000 pekerja kehilangan pekerjaan disebabkan banjir buruk yang berterusan melanda Thailand sejak tiga bulan lalu. 

Bagaimanapun, kebanyakan majikan berjanji bahawa akan terus mengambil 280,000 pekerja berkenaan. 

Selain itu, 600,000 pekerja asing dilaporkan terperangkap di kawasan banjir menantikan bantuan bekalan selain terpaksa berhadapan dengan masalah pemotongan gaji berikutan kerugian yang dialami majikan mereka, kata sebuah kumpulan penasihat yang dipetik The Nation, semalam. 

Seramai 2,893 pekerja yang diberhentikan diberikan pampasan penuh di mana 343 daripada mereka adalah pekerja separuh masa dengan tiga syarikat manakala yang lain adalah pekerja sepenuh masa bersama enam firma. - Agensi 

Perth perkenalkan siling emas gergasi

PERTH - Kilang duit siling Perth Mint di Australia semalam memperkenalkan sekeping duit siling emas yang didakwanya terbesar di dunia.

Siling emas berkenaan memiliki berat lebih satu tan dan bernilai sekitar AS$55 juta (RM171.8 juta).

Sebelah siling itu tertera gambar seekor kanggaru sedang melompat. manakala sebelah lagi memiliki profil ketua negara Britain, Ratu Elizabeth II.

Siling emas itu diperkenalkan sempena sidang kemuncak negara-negara Komanwel yang akan dirasmikan oleh Ratu Elizabeth II di sini pada minggu ini.

Siling gergasi seberat 1,012 kilogram itu mengandungi 99.99 peratus emas tulen. Lebar siling itu hampir 80 sentimeter (sm), sementara tebalnya ialah 12sm.

Kilang wang tersebut mengambil masa 18 bulan untuk menghasilkan siling tersebut yang kini dipamerkan kepada orang ramai.

Sumber:http://kosmo.com.my/kosmo/content.asp?y=2011&dt=1028&pub=Kosmo&sec=Dunia&pg=du_06.htm

Gold price held steady near $1,699 per ounce Wednesday morning

The gold price held steady near $1,699 per ounce Wednesday morning as euro zone sovereign debt concerns continued to be at the forefront of financial headlines. 

The price of gold climbed to as high as over $1,700 in overnight trading, but pared its gains as the U.S. dollar rebounded against a basket of foreign currencies. The SPDR Gold Trust (GLD), a proxy for the gold price and the world’s largest gold ETF, traded near unchanged at $161.01 per share.

The rally in gold came despite two key factors that have kept a lid on the gold sector in recent weeks: a broad-based sell-off in equities and strength in the U.S. dollar. Today’s action has been more reminiscent of how the sector performed in August, when gold stocks finally began to outperform the price of gold on the upside. While one day does not make a trend, today’s developments are an encouraging sign for a sector that has faced considerable selling pressure since the middle of September.

Race to Debase - 2011 Q3 - Fiat Currencies vs Gold & Silver

Welcome back to the Worldwide Fiat Currency Race to Debase!

Rounding out the third quarter of 2011 heading to the finish line for the year, we are again tracking the performance of gold and silver bullion versus 75 different dying fiat currencies around the world. 

Through the 3rd quarter of 2011 gold appears to be running away with another annual victory in value!

Thus far in 2011, gold has appreciated 17.2% versus 75 fiat currencies from around the world. 

Kenyan Schillings, South African Rands, and Turkey Lira have been the biggest losers to gold thus far in 2011, down over 42%, 38%, and 37% respectively to the yellow metal's value.

Currency vs 1 oz Gold	1-Jan-11	30-Sep-11	% Gold + / - Q3 2011
Afghanistan Afghanis	61,158	78,334	28.1%
Albania Leke	148,940	168,907	13.4%
Algeria Dinars	104,548	121,100	15.8%
Argentina Pesos	5,642	6,819	20.9%
Australia Dollars	1,389	1,663	19.8%
Bahamas Dollars	1,421	1,621	14.1%
Bahrain Dinars	536	611	14.0%
Bangladesh Taka	100,212	121,789	21.5%
Barbados Dollars	2,843	3,242	14.0%
Bermuda Dollars	1,421	1,621	14.1%
Brazil Reais	2,359	3,004	27.3%
Bulgaria Leva	2,081	2,358	13.3%
CFA BEAC Francs	696,322	791,051	13.6%
Canada Dollars	1,418	1,684	18.8%
Chile Pesos	664,883	846,118	27.3%
China Yuan Renminbi	9,369	10,348	10.4%
Colombia Pesos	2,722,077	3,119,868	14.6%
Comptoirs Français Francs	126,675	143,908	13.6%

Currency vs 1 oz Gold	1-Jan-11	30-Sep-11	% Gold + / - Q3 2011
Costa Rica Colones	715,132	824,665	15.3%
Croatia Kuna	7,844	9,041	15.3%
Czech Republic Koruny	26,558	29,783	12.1%
Denmark Kroner	7,913	8,974	13.4%
Dominican Republic Pesos	52,878	61,845	17.0%
East Caribbean Dollars	3,838	4,377	14.0%
Egypt Pounds	8,252	9,673	17.2%
Euro	1,062	1,206	13.6%
Fiji Dollars	2,632	2,991	13.6%
Hong Kong Dollars	11,049	12,620	14.2%
Hungary Forint	295,818	353,038	19.3%
IMF Special Drawing Rights	923	1,038	12.5%
Iceland Kronur	163,538	191,474	17.1%
India Rupees	63,539	79,566	25.2%
Indonesia Rupiahs	12,793,050	14,241,724	11.3%
Iran Rials	14,645,199	17,419,182	18.9%
Iraq Dinars	1,658,832	1,894,325	14.2%
Israel New Shekels	5,043	6,069	20.3%
Jamaica Dollars	120,397	139,007	15.5%

Currency vs 1 oz Gold	1-Jan-11	30-Sep-11	% Gold + / - Q3 2011
Japan Yen	115,351	124,882	8.3%
Jordan Dinars	1,006	1,149	14.2%
Kenya Shillings	114,427	162,592	42.1%
Kuwait Dinars	400	449	12.1%
Lebanon Pounds	2,132,175	2,437,455	14.3%
Malaysia Ringgits	4,384	5,175	18.1%
Mauritius Rupees	42,359	47,007	11.0%
Mexico Pesos	17,571	22,324	27.0%
Morocco Dirhams	11,842	13,494	14.0%
New Zealand Dollars	1,821	2,113	16.0%
Norway Kroner	8,273	9,469	14.5%
Oman Rials	547	623	13.9%
Pakistan Rupees	121,690	141,862	16.6%
Peru Nuevos Soles	3,987	4,495	12.7%
Philippines Pesos	62,032	70,957	14.4%
Poland Zlotych	4,209	5,321	26.4%
Qatar Riyals	5,175	5,903	14.1%
Romania New Lei	4,541	5,249	15.6%
Russia Rubles	43,322	52,183	20.5%

Currency vs 1 oz Gold	1-Jan-11	30-Sep-11	% Gold + / - Q3 2011
Saudi Arabia Riyals	5,331	6,080	14.1%
Singapore Dollars	1,826	2,110	15.5%
South Africa Rand	9,424	13,004	38.0%
South Korea Won	1,592,877	1,914,735	20.2%
Sri Lanka Rupees	157,696	178,602	13.3%
Sudan Pounds	3,551	4,339	22.2%
Sweden Kronor	9,554	11,062	15.8%
Switzerland Francs	1,328	1,468	10.5%
Taiwan New Dollars	41,421	49,452	19.4%
Thailand Baht	42,672	50,491	18.3%
Trinidad and Tobago Dollars	9,012	10,375	15.1%
Tunisia Dinars	1,992	2,322	16.6%
Turkey Lira	2,185	3,007	37.6%
United Arab Emirates Dirhams	5,221	5,955	14.1%
United Kingdom Pounds	911	1,038	13.9%
United States Dollars	1,421	1,621	14.1%
Venezuela Bolivares Fuertes	6,112	6,971	14.1%
Vietnam Dong	27,711,168	33,768,458	21.9%
Zambia Kwacha	6,794,531	7,854,166	15.6%