Wednesday, February 16, 2011

Bila Inflasi, Harga Emas Naik

Memang banyak kelebihan menyimpan emas ni. Bila seluruh dunia mencatatkan inflasi atau baru menjangka akan berlaku inflasi, harga emas pun naik. Untunglah penyimpan emas. Sedang pada hakikatnya, jika inflasi semua orang akan mengalami kerugian kerana harga barangan meningkat sedangkan gaji meningkat setahun sekali saja, tetapi bagi penyimpan emas, mereka boleh tersenyum.


Gold Advances for a Fourth Day as Inflation Fuels Hedge Demand

Gold advanced for a fourth day on speculation that rising consumer prices will boost investor demand for the metal as a hedge against inflation.

Immediate-delivery bullion rose 0.2 percent to $1,377.47 an ounce at 10:52 a.m. in Singapore. The metal climbed to $1,382.17 an ounce yesterday, the highest price since Jan. 13. Futures for April delivery were also up 0.2 percent.
“Gold retains strength to move higher against the backdrop of rising inflation globally,” said Bae Jung Seok, senior trader with Eugene Investment & Futures Co. in Seoul.

Singapore raised its inflation forecast for 2011 today after the economy expanded at a record pace last year. Wholesale prices rose for a seventh straight month in the U.S. and gained 8.2 percent last month in India. The Bank of England forecast inflation peaking at 4.4 percent this year, more than twice as high as its target.

The United Nations Food & Agriculture Organization’s World Food Price Index rose to a record in January. Food prices have surged to “dangerous levels,” pushing 44 million people into extreme poverty since June, the World Bank said this week.

Weakness in the dollar, which typically moves inversely to gold, also provided some support to the metal.

The dollar fell to a one week low against the euro before reports forecast to show European consumer confidence rose and an index of U.S. leading indicators gained, adding to signs the global recovery is strengthening.

‘Downside Risk’

Gold has weakened 3.8 percent since touching a record $1,431.25 an ounce on Dec. 7 as investors turned to high- yielding assets including equities as the global economy improved.

“A surprise uptick in inflation could be the impetus for gold prices to head higher,” said Ong Yi Ling, Singapore-based analyst with Phillip Futures Pte Ltd. “However, we think that current inflationary pressures in the U.S. remain muted. With gold prices at multi-week highs, there may be downside risks if investors take profits.”

Assets in gold-backed exchange traded products fell 0.6 metric tons to 2,016.41 tons yesterday, the lowest level since June 7, data compiled by Bloomberg from 10 providers show. Holdings reached a record 2,114.6 tons in December.

“Physical demand is absent as buyers have been driven away by the higher prices,” Marc Ground, commodity analyst with Standard Bank, wrote in a note. “This opens up a downside risk for gold and silver. The upward momentum is waning.”

Karen Jones, technical analyst with Commerzbank AG, said in a note to clients, that gold won’t attempt to rise to its record price in the months to come and will trade between $1,425 and $1,300 in the weeks ahead.
Platinum for immediate delivery increased 0.4 percent to $1,837.25 an ounce and spot palladium added 0.6 percent to $846.50 an ounce, rising to near a decade-high. Silver was little changed at $30.6838 an ounce.
To contact the reporter on this story: Kyoungwha Kim in Singapore at

To contact the editor responsible for this story: James Poole at

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