Wednesday, December 18, 2013
Gold and Silver
Gold has lost its glitter ... those precious metals investment-gurus or salesmen no longer trying hard to sell those products to many.
One of the product our local banks are selling is those gold-investment book. Some even came out with silver-investment book. Maybank and Public Bank are two major banks having this product for MANY un-informed investors. Many of my colleagues bought into her too ... hmm ... I was asking many why they will open such accounts? Because it is 'safe' and guaranteed by banks? Really ... where are the money gone leh? The banks buying real gold to store OR buying the ETFs?
Check the clip, to understand the pro-con of buying the Silver-account book.
This is gold ETF(traded in US) ... the popular GLD. Now, support at USD118 ... Chinese may like it at this level (118 = yat-yat fatt = prosperous everyday)
As for the silver, one of the ETF is SLV ... support at 18.18, another nice number to buy.
ETFs could be traded online.
Jim Rogers said gold/silver prices will continue to go lower next year. What is your take?
Gold could drop 50% from the peak, 1800 ... so, the level to watch is 900. I will say ... we check 888 ... as that is another nice number.
Market is opening ... we are at new high.