Gold falls on greenback rally

January 16, 2010 - 9:43AM

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Gold prices fell as the US dollar's rally sapped investor demand for the metal as an alternative asset. Palladium jumped to an 18-month high.

The greenback gained as much as 0.8 per cent against a basket of six major currencies, halting a five-session slide. Demand for the US dollar as a haven increased amid speculation that China's economy will cool following central bank steps to tighten credit. Gold has climbed 40 per cent in 12 months as the US dollar declined 8.5 per cent.

``It's the dollar move driving prices,'' said Afshin Nabavi, a senior vice president at MKS Finance SA, a bullion refiner in Geneva.

Gold futures for February delivery fell $US12.50, or 1.1 per cent, to $US1,130.50 an ounce on the Comex division of the New York Mercantile Exchange, capping a 0.7 per cent decline this week. The metal tumbled 7.3 per cent last month after reaching a record $US1,227.50 on Dec. 3.

Bullion held by the SPDR Gold Trust, the biggest exchange- traded fund backed by the metal, fell 2.13 metric tons to 1,113.75 tons as of yesterday.

Gold may gain next week as investors seek an alternative to the US dollar, a Bloomberg News survey showed. Of 19 traders, investors and analysts surveyed, 12, or 63 per cent, said the metal would rise. Five forecast a decline and two were neutral.

Pelabur Terpedaya Dengan Syarikat Cacing, Roselle

Assalamualaikum Wbth,

Berita berkenaan pelabur terpedaya dengan skim pelaburan cacing & Roselle yang sebelum ini menawarkan pelaburan yang lumayan.

Sumber Berita Harian & Harian Metro

Berhati-hati dengan Skim Urus Niaga Mata Wang Asing Secara Haram

Bank Negara Malaysia ingin mengingatkan orang ramai untuk tidak menyertai mana-mana pelaburan atau program latihan urus niaga mata wang asing secara haram yang ditawarkan oleh individu atau syarikat dalam atau luar negeri.

Orang ramai selalunya dipujuk untuk menyertai pelaburan atau program latihan seperti ini dengan janji pulangan yang cepat dan lumayan. Modus operandi program termasuk:

• Menawarkan latihan, seminar atau bengkel percuma untuk mengumpan para pelabur, sebelum mempelawa mereka untuk membuka akaun urus niaga mata wang asing dalam talian dengan syarikat induk (kononnya mempunyai lesen yang sah untuk menjalankan urus niaga mata wang asing di luar negara);
• Menyediakan akses mudah kepada laman sesawang syarikat induk dan kemudahan urus niaga bagi menyenangkan pelabur menjalankan urus niaga mata wang asing secara dalam talian;
• Pengambilan siswazah baharu sebagai eksekutif pemasaran dan menggalakkan mereka untuk melibatkan keluarga dan rakan-rakan mereka dalam urus niaga mata wang asing; dan
• Menghendaki pelabur menyimpan sejumlah wang dalam akaun bank bagi memulakan urus niaga mata wang asing, dan seterusnya meminta mereka menambah pelaburan permulaan (panggilan margin) bagi mengelakkan kehilangan modal.

Di bawah Akta Kawalan Pertukaran Wang 1953, adalah satu kesalahan untuk seseorang individu di Malaysia membeli atau menjual mata wang asing atau melakukan apa-apa tindakan yang melibatkan, berhubung dengan, atau persediaan untuk, membeli atau menjual mata wang asing dengan mana-mana orang, selain daripada peniaga berdaftar. Di bawah Akta ini juga, adalah satu kesalahan untuk seseorang itu membantu atau bersubahat dengan orang lain untuk membeli atau menjual mata wang asing dengan mana-mana orang, kecuali orang tersebut ialah peniaga yang dibenarkan.

Senarai peniaga dan institusi kewangan yang dibenarkan oleh Pengawal Pertukaran Wang Asing untuk membeli atau menjual mata wang asing boleh didapati di laman sesawang Bank Negara Malaysia (http://www.bnm.gov.my).

Untuk maklumat lanjut, orang ramai boleh menghubungi Bank Negara Malaysia di:

BNMTELELINK (Pusat Perkhidmatan Pelanggan)
1-300-88-5465 atau
E-mel: bnmtelelink@bnm.gov.my

Bank Negara Malaysia
4 Januari 2010

© Bank Negara Malaysia, 2010. All rights reserved.

Gold Price Forecast 18th December 2009

السلام عليكم ورحمة الله تعالى وبركات

Update terbaru Gold Price Forecast pada 18th December 2009

Gold Price Forecast

London Fix. US Dollars per troy ounce.

Month	Date	Forecast Value	50% Correct +/-	80% Correct +/-
0	Nov 2009	1,127.0	0	0
1	Dec 2009	1,124	55	123
2	Jan 2010	1,127	68	152
3	Feb 2010	1,135	76	171
4	Mar 2010	1,159	83	187
5	Apr 2010	1,158	89	200
6	May 2010	1,144	94	211
7	Jun 2010	1,133	99	221
8	Jul 2010	1,179	103	230

Updated Friday, December 18, 2009

All forecasts are provided AS IS, and FFC disclaims any and all warranties, whether express or implied, including (without limitation) any implied warranties of merchantability or fitness for a particular purpose.

Click Here to get the rest of the story with the Long Range forecasts

Gold Prices

Past Trend Present Value & Future Projection

London Fix. US Dollars per troy ounce.

Other Links of Interest:

• Gold Price Historical Data
• Gold Price Extended Forecast by subscription
• Crude Oil Price Forecast
• U.S. Consumer Price Index Forecast
• London Bullion Market Association's Website for Gold and Silver Prices

PayPal Accepts MYR and Why We Should Care

By Nora Ismail | November 2, 2009

Shopping bags, originally uploaded by richmondsquarephotos.

PayPal is the biggest e-currency on the internet that lets you make payments and transfer money online without having to expose your credit card or banking account details to merchants. It’s the most preferred payment method on eBay, which is expected considering PayPal is an eBay-owned company. D’oh!

However, PayPal didn’t make any sense to me – and most Malaysian businesses – before the end of last month. Although I’m a zealous online shopaholic, I’ve never given the popular e-commerce service a second thought and I’ll tell you why:

1. I don’t have a credit card
   For Malaysian users, signing up for a PayPal account requires a credit or debit card. Although I have a debit card, I refrain from using it in fear of suffering from an overdraft nightmare.
2. Most local web stores offer the quick funds transfer option
   Most local online businesses, especially the smaller ones, offer the funds transfer option, which is great owing to the fairly recent boom of internet banking – and soon, mobile banking – in Malaysia.

But with the recently added capability of accepting Malaysian Ringgit and letting users withdraw PayPal funds from local banking accounts, I see them in a whole new light – the kind that drives my online shopaholic hormones to, in the words of an Iron & Wine song, “such great heights”.

Here are 4 reasons why I personally think the new PayPal “revelation” could be great for Malaysian consumers and businesses:

1. You no longer need a credit or debit card
   PayPal now lets us link our banking account to our PayPal accounts, which means we can directly transfer funds from and to our banking accounts. That eliminates the need for a credit or debit card and youth-targeting businesses won’t have to worry about isolating their market.
2. It’s cheaper
   Withdrawing Funds
   Previously, you can only withdraw funds to your credit or debit card, which costs USD5 (now RM20) per withdrawal – that’s a lot of money, especially when you intend to withdraw a small sum. Withdrawing RM400 or more from your banking account is FREE and a reasonable RM3 is charged for withdrawing amounts less than RM400.
   Foreign exchange what?
   Because PayPal fees for Malaysian users are now charged in Malaysian Ringgit, we are better protected from foreign exchange losses.
   Free – and easy – to use
   If and when more consumers use PayPal, local business owners no longer need to spend on Internet merchant accounts to process credit and debit card payments, which are known to be rather costly. And customers with credit cards still can pay without having a PayPal account.
3. It’s safer than most of our options right now
   We no longer need to perform unregistered i.e. unsafe 3rd party fund transfers or enter our credit card information again and again. With PayPal, not only are we able to hide our financial information from merchants, we can also file payment disputes in case of fraudulent sellers with its fraud detection and prevention feature.
4. More international than international credit cards
   If you’ve shopped online, you would’ve also come across international web stores that don’t accept international credit cards. This is where PayPal comes in. As for sellers, that means you can open up your products or services to both domestic and international customers.

But as with most online services, there are always pros and cons. While it has received a share of disapprovals from sellers, buyers on PayPal seem to be more than happy with this payment gateway alternative.

I anticipate the day that more local offline businesses – especially small retailers and independent sellers – get online. But for now, I’m going to get me some David and Goliath t-shirts with my shiny new PayPal account.

Useful links:
Easy Steps to Create a PayPal Account
PayPal Accepts Over 20 Malaysian Banks
PayPal Accepts Ringgit Malaysia and its Benefits to Malaysian PayPal Users
How to Link PayPal to Your Malaysian Bank Account

SUMMARY MONDAY 30/11/09 - news of debt rescheduling

السلام عليكم ورحمة الله تعالى وبركات

News berkenaan dgn debt rescheduling, harga emas dijangka naik lagi.

• Wall St down 1.5%, reacting to the news of debt rescheduling of some USD60bln owed by Dubai World and Nakheel. Concern over Dubai threat to US banks was mitigated by the cheer that the first day after Thanksgiving was greeted by shoppers that came in droves. Dollar gained slightly. Commodities eased on profit taking.
• Dow is at 10,309. Support is at 10,171. Resistances at 10,723, 11,000
• Dollar is drifting downwards to 86.8 yen. Support is at 86.3
• Euro/dollar is lower at 1.498. Longer term upside is at 1.53
• Crude oil is lower at USD76.
• Gold eased to USD1176 from USD1200, on technical correction. Strong resistance is at the USD1201-1209 region.
• Ringgit is slightly firmer at 3.38. With support at 3.45, it is on a long term upside of 3.34.
• S’pore ringgit is firmer at 2.448. With a pullback support at 2.42, the long term upside is at 2.52.
• Malaysia market closed lower at 1270. With strong support at 1262, it is targeting yearend 1292, and 1300.
• CPO Dec futures is RM2455, with support at RM2335. Upside remains at RM2500.
• Today’s trading range is between 1266 and 1274.

Regards,

JUPITER SECURITIES SDN BHD

RM8j lesap pajak gadai Ar-Rahnu diceroboh

Oleh Adha Ghazali
adha@bharian.com.my

ANGGOTA polis sedang memeriksa bongkah dinding konkrit setebal 12 inci yang ditebuk sekumpulan penyamun sebelum melarikan barangan kemas dan wang tunai bernilai hampir RM8 juta, di Kangar, semalam.

KANGAR: Perompak melarikan barangan kemas dan wang tunai bernilai hampir RM8 juta, dipercayai antara yang terbesar di negara ini, selepas memecah masuk kedai pajak gadai Ar-Rahnu milik Yayasan Islam Perlis (YIPs), di Taman Sena di sini, malam kelmarin.

Semua barangan kemas bernilai kira-kira RM7.7 juta dan wang tunai RM68,000 yang disimpan di dalam beberapa kabinet di dalam bilik kebal pajak gadai itu, dipercayai dilarikan antara tengah malam kelmarin dan 11 pagi semalam.

Kumpulan penjenayah terbabit memecah masuk premis itu selepas mengumpil pintu dan jeriji besi di bahagian belakang bangunan berkenaan.

Perompak itu kemudian dipercayai menggunakan gerudi menebuk satu lubang besar pada dinding bilik kebal pajak gadai berkenaan sebelum masuk ke ruang itu dan melarikan semua barangan kemas dan wang tunai yang disimpan di dalamnya.

Sebelum memecah masuk, kumpulan itu juga dikatakan memotong kabel penggera keselamatan dan talian telefon yang di-

pasang di premis berkenaan.

BONGKAH dinding konkrit setebal 12 inci yang ditebuk penyamun.

Mengikut sumber, lubang yang ditebuk pada dinding bilik kebal berkenaan boleh meloloskan badan bersaiz sederhana.

Ketua Polis Daerah Kangar, Superintendan Abdul Rahman Mohd Noordin, ketika ditemui mengesahkan kejadian itu tetapi enggan mengulas lanjut kerana kejadian itu masih dalam siasatan.

Berdasarkan maklumat awal katanya, pengurusan kedai pajak gadai itu menganggarkan jumlah kerugian dialami mencecah RM8 juta iaitu membabitkan wang tunai dan emas yang digadai pelanggan.

"Buat masa sekarang, kita sedang mengumpulkan maklumat mengenai kes ini, termasuk mengenal pasti identiti suspek berdasarkan persamaan dalam modus operandi dengan beberapa kejadian di negeri lain," katanya.

Kes kini disiasat mengikut Seksyen 457 Kanun Keseksaan kerana pecah masuk bangunan malam hari dan orang ramai yang mempunyai maklumat diminta menghubungi Rakan Cop Perlis iaitu 04-9711999.

Hujung tahun lalu, Ar-Rahn milik Kumpulan Permodalan Kelantan Berhad anak syarikat Perbadanan Kemajuan Ikhtisas Negeri Kelantan, dirompak barangan kemas bernilai kira-kira RM18 juta yang disimpan dalam 238 peti simpanan.