Gold Price is falling

By Frank Tang
          NEW YORK, Nov 2 (Reuters) - Gold slid 2 percent in heavy trade on Friday, breaking below $1,690 an ounce for the first time in about two months as an encouraging U.S. nonfarm payrolls report lowered expectations for economic stimulus provided by global central banks. Bullion hit a two-month low on Friday and is down almost 2 percent this week for its fourth consecutive weekly decline.
          The metal has now erased all its gains after the U.S. Federal Reserve announced its latest bond-buybacks to boost the job market in September. Gold's pullback brought its price near major technical support near its 100- and 200-day moving averages, after data showed U.S. employers added 171,000 jobs in October, a hopeful sign for a lackluster economy that has been a drag on President Barack Obama's re-election chances. "Better-than-expected numbers reduced the risk demand for gold, and a drop below $1,700 an ounce triggered sell-stops and momentum selling," said James Steel, metals analyst at HSBC.
          "There are also long liquidation ahead of elections triggered by the job number," Steel said. Spot gold fell 2 percent to $1,680.04 by 12:31 p.m. EDT (1631 GMT), having touched an eight-week low of $1,679.04. U.S. COMEX gold futures for December delivery dropped $34.30 an ounce to $1,681.10, as trading volume on track to finish sharply above its 250-day average, preliminary Reuters data showed. On charts, Friday's sharp pullback sent prices below a key Fibonacci retracement support and near its 100-day moving average, a level it has held since mid-August.
              "Gold has weakened markedly after slicing below its 50 DMA line last week which was support and has now become resistance," said Adam Sarhan, CEO of Sarhan Capital. Silver, which tends to be more volatile than gold, tumbled 3.5 percent to $31.09 an ounce. EASING EXPECTATIONS TRIMMED In the longer term, a positive reading on jobs and Friday's strong U.S. factory orders data could weigh on gold if it trims expectations for monetary easing.
                The U.S. authorities have explicitly tied the extent of monetary stimulus measures - news of which sent gold above $1,795 an ounce in October - to the health of the jobs market. However, while the data was good, analysts say it is far from a level that would yet stoke fears of an imminent reversal of the Fed's commitment to easing.
               Despite Friday's broad sell-off, platinum and palladium were both heading for their first weekly gains after three weeks of straight falls. Platinum dropped 1.3 percent to $1,544.24 and palladium fell 1.9 percent to $599.50.
               Prices at 12:31 p.m. EDT (1631 GMT)
               LAST NET PCT YTD CHG CHG CHG
               US gold 1681.10 -34.30 -2.0% 7.3%
               US silver 31.135 -1.113 -3.5% 11.5%
               US platinum 1549.00 -24.20 -1.5% 10.7%
               US palladium 599.95 -12.50 -2.0% -8.6%

               Gold 1680.04 -34.05 -2.0% 7.4%
               Silver 31.09 -1.14 -3.5% 12.3%
               Platinum 1544.24 -20.26 -1.3% 10.9%
               Palladium 599.50 -11.50 -1.9% -8.1%

               Gold Fix 1685.00 -23.25 -1.4% 7.0%
               Silver Fix 31.92 -74.00 -2.3% 13.3%
               Platinum Fix 1552.00 3.00 0.2% 12.4%
               Palladium Fix 608.00 0.00 0.0% -4.4%

Good News

Yeah! its a good news. Gold is going down now. Grab the oportunity. If you want to make money grab now, buy gold as much as you can. You will not regret.

Why GOLD

10 Reasons To Invest In Physical Gold There are many potential investors wondering what all the fuss is about concerning Gold because for the longest time it has been viewed as a past time for millionaires and Countries. The Gold we refer to here is “allocated” gold i.e. a specific, referenced, visible piece of gold bullion or a gold coin that is allocated to and owned by one person. It does not necessarily include quantities of gold held as anonymous parts of anonymous bars in anonymous vaults (“unallocated”) because this type of gold cannot be repatriated to the owners if the need arose as no-one knows which bits of which bar belong to each investor.
It is an investment that you own, it is your property and it cannot be lent out to a third party or used to form credit It has increased in value over 440% in the last 10 years and has shown a healthy return on investment year on year It is not a paper asset vulnerable to to the performance, viability, stability or existence of an intermediary It is not an investment in a Bank which cares little about paying you interest and a return on investment because it is preoccupied making money for itself Historically it is the only “currency” to maintain a real value in purchasing power throughout centuries		\
It is THE safe haven for wealth and used by Countries and the largest Private fortunes on the planet as a protection against inflation, currency devaluation, economic instability and ultimately pending crisis Economic and financial experts the world over recognise and advise that Gold should form part of every investment portfolio The price of gold has been suppressed and controlled for decades by those who seek to control global finance. Since 2008 the rules have changed and control has been lost. If the gold price was corrected by the same factors as fuel, food and currency it would be worth at least $2100 an ounce today It is a precious metal available in a finite quantity that is constantly in demand the world over.It is always a good time to invest in gold because demand is extremely high and supply is dwindling. Prices will fluctuate but in the end Gold will continue to rise because it is irreplaceable, a precious metal with unique properties and it cannot be manufactured or printed It is a debt free investment, not linked to the worldwide black hole of sovereign debt and spiralling deficits

Gold are forever.

1 November 2012 - Malaysia's Perak finds potential Gold sources

Malaysia's Perak finds potential Gold sources By Bullionstreet: http://www.bullionstreet.com/news/malaysias-perak-finds-potential-gold-sources/3260 IPOH(BullionStreet): Malaysian State of Perak claimed to have identified several potential gold sources but refused to name it fearing any 'gold rush'. According to a top official of the government, authorities would first need to determine whether the gold deposits had any commercial or considerable value. He said Mineral and Geoscience Department will conduct further research at the spots and determine if there is any commercial value in them or if they only contain small amounts of gold. Based on the preliminary report by a task force studying Perak's gold mining potential, the gold deposits could be commercially mined, he added. Perak was also looking into refining the categorisation of minerals to facilitate the process of imposing royalty taxes on mining activities. Perak had already increased its tax revenues from mining activities to about RM 30 mil this year through a royalty tax increase to 5% as compared to last year's revenue of less than RM 1mil. Source: http://www.bullionstreet.com/news/malaysias-perak-finds-potential-gold-sources/3260