Thursday, 2 June 2011
Posted by
Admin Hijrah Dinar
By Rujun Shen
SINGAPORE, June 2 (Reuters) - Spot gold held steady on
Thursday, supported by worries about economic recovery triggered
by sluggish U.S. employment and manufacturing data, and as
optimism over a solution to the Greek debt crisis faded after
Moody's cut the country's credit rating.
FUNDAMENTALS
* Spot gold edged up 0.1 percent to $1,541.89 an
ounce by 0048 GMT, extending gains from the previous session.
* U.S. gold GCcv1 was flat at $1,543.20.
* Fears mounted that the U.S. economy may be running out of
steam as data showed that companies hired far fewer workers than
expected in May and output in the manufacturing sector hit its
lowest level since 2009. [ID:nN01147563]
* The cloudy economic outlook drove investors to seek a safe
haven in gold, pushing the holdings in the SPDR Gold Trust
, the world's largest gold-backed exchange-traded fund, up
2.121 tonnes to 1,212.866 tonnes.
* Moody's cut Greece's credit rating by three notches on
debt restructuring worries, dampening optimism earlier in the
week that the debt-laden country would receive a second bailout
package and avoid restructuring. [ID:nLDE75038N]
* Spot silver gained 0.7 percent to $37.06, after
slipping more than 4 percent in the previous session. U.S.
silver SIcv1 fell 1.6 percent to $37.08.
* For the top stories on metals and other news, click
, or
MARKET NEWS
* Wall Street ended a four-day rally with its weakest
session since August on Wednesday and could suffer more losses
in coming days as investors faced more signs the economic
recovery is fading.
* The euro strengthened against the greenback on Thursday,
paring losses after Greece's credit rating was cut on Wednesday.
DATA/EVENTS
1230 U.S. Unemployment claims Weekly
1400 U.S. Factory orders April
PRICES
Precious metals prices 0048 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1541.89 1.69 +0.11 8.63
Spot Silver 37.06 0.27 +0.73 20.09
Spot Platinum 1820.24 5.99 +0.33 2.98
Spot Palladium 769.97 3.99 +0.52 -3.69
TOCOM Gold 4029.00 10.00 +0.25 8.05 29310
TOCOM Platinum 4800.00 -18.00 -0.37 2.21 5276
TOCOM Silver 96.70 -3.30 -3.30 19.38 1027
TOCOM Palladium 2020.00 -10.00 -0.49 -3.67 159
COMEX GOLD AUG1 1543.20 0.00 +0.00 8.57 3207
COMEX SILVER JUL1 37.08 -0.62 -1.64 19.83 1589
Euro/Dollar 1.4347
Dollar/Yen 81.09
TOCOM prices in yen per gram. Spot prices in $ per ounce.
COMEX gold and silver contracts show the most active months
(Editing by Ed Lane)
SINGAPORE, June 2 (Reuters) - Spot gold held steady on
Thursday, supported by worries about economic recovery triggered
by sluggish U.S. employment and manufacturing data, and as
optimism over a solution to the Greek debt crisis faded after
Moody's cut the country's credit rating.
FUNDAMENTALS
* Spot gold edged up 0.1 percent to $1,541.89 an
ounce by 0048 GMT, extending gains from the previous session.
* U.S. gold GCcv1 was flat at $1,543.20.
* Fears mounted that the U.S. economy may be running out of
steam as data showed that companies hired far fewer workers than
expected in May and output in the manufacturing sector hit its
lowest level since 2009. [ID:nN01147563]
* The cloudy economic outlook drove investors to seek a safe
haven in gold, pushing the holdings in the SPDR Gold Trust
, the world's largest gold-backed exchange-traded fund, up
2.121 tonnes to 1,212.866 tonnes.
* Moody's cut Greece's credit rating by three notches on
debt restructuring worries, dampening optimism earlier in the
week that the debt-laden country would receive a second bailout
package and avoid restructuring. [ID:nLDE75038N]
* Spot silver gained 0.7 percent to $37.06, after
slipping more than 4 percent in the previous session. U.S.
silver SIcv1 fell 1.6 percent to $37.08.
* For the top stories on metals and other news, click
, or
MARKET NEWS
* Wall Street ended a four-day rally with its weakest
session since August on Wednesday and could suffer more losses
in coming days as investors faced more signs the economic
recovery is fading.
* The euro strengthened against the greenback on Thursday,
paring losses after Greece's credit rating was cut on Wednesday.
DATA/EVENTS
1230 U.S. Unemployment claims Weekly
1400 U.S. Factory orders April
PRICES
Precious metals prices 0048 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1541.89 1.69 +0.11 8.63
Spot Silver 37.06 0.27 +0.73 20.09
Spot Platinum 1820.24 5.99 +0.33 2.98
Spot Palladium 769.97 3.99 +0.52 -3.69
TOCOM Gold 4029.00 10.00 +0.25 8.05 29310
TOCOM Platinum 4800.00 -18.00 -0.37 2.21 5276
TOCOM Silver 96.70 -3.30 -3.30 19.38 1027
TOCOM Palladium 2020.00 -10.00 -0.49 -3.67 159
COMEX GOLD AUG1 1543.20 0.00 +0.00 8.57 3207
COMEX SILVER JUL1 37.08 -0.62 -1.64 19.83 1589
Euro/Dollar 1.4347
Dollar/Yen 81.09
TOCOM prices in yen per gram. Spot prices in $ per ounce.
COMEX gold and silver contracts show the most active months
(Editing by Ed Lane)
Category:
Kali ini, saya ingin berkongsi maklumat tentang jenis-jenis hutang yang terbahagi kepada 2 bahagian iaitu hutang baik dan hutang tak baik. Artikel yang dipetik dari web AKPK ini dapat menjadi panduan untuk kita semua dalam perkara-perkara berhutang. Layan.....
.
Adakah jenis “Hutang Baik”? Ya, ada. Hutang ini membolehkan beban kewangan dijelaskan sepenuhnya. Meminjam untuk membeli rumah, pendidikan anak-anak, memajukan kemahiran dalam kerjaya, atau memulakan perniagaan sendiri akan membolehkan anda mendapat faedah kewangan jangka panjang.
.
“Hutang Tak Baik” adalah bila anda meminjam untuk sesuatu yang tidak mendatangkan apa-apa feadah kewangan atau barangan tersebut mempunyai jangka hayat yang lebih singkat daripada jangkamasa pinjaman barangan itu sendiri. Ini termasuklah pinjaman untuk bercuti, membeli pakaian, perabut, barangan rumah atau pun makan luar.
.
Di dalam proses mengasingkan pekara-perkara negatif berkaitan hutang, kita seringkali beranggapan bahawa berhutang adalah suatu perkara yang tidak berfaedah dan tidak produktif. Semestinya ia tidak benar kerana hutang boleh digunakan secara produktif oleh individu, peniaga mahu pun badan-badan kebajikan.
.
Untuk lebih memahami, mari kita lihat takrifan hutang yang produktif dan tidak produktif:
· Jika saya meminjam wang untuk beli satu pengalaman atau benda-benda yang tidak boleh saya bayar, dan menambah hutang dengan caj faedah tinggi, saya telah dibebani dengan hutang tidak produktif.
.
· Jika saya meminjam wang untuk memperolehi satu aliran pendapatan yang menyumbang kepada pembayaran balik hutang, seperti pembelian lot kedai untuk disewa (kepada penyewa yang baik, harapnya!), Saya telah menggunakan hutang secara produktif.
.
· Jika saya meminjam wang menggunakan akaun margin untuk membuat spekulasi ke atas saham “panas” berdasarkan sembang-sembang/gossip, saya telah melibatkan diri dengan hutang yang tidak produktif dan berbahaya. Kesimpulannya, saya akan kehilangan wang (kebiasaanya) dan masih berhutang.
.
· Jika saya meminjam wang untuk membeli rumah, dan bercadang tinggal di rumah tersebut untuk masadepan yang dijangka, sekurang-kurangnya saya mungkin dapat mencapai “pulang-modal” sepanjang masa melalui peningkatan nilai rumah saya. Dalam mana-mana kes, ia akan menyelamatkan saya dari perlu membayar sewa sekiranya tidak membeli rumah, dengan ini, saya telah berhutang secara produktif.
.
· Jika saya meminjam wang untuk membeli sebuah kereta baru, dan berhutang lebih daripada 90% nilainya, saya akan terus menjadi tidak menentu dari segi penggunaan hutang jika kereta saya dicuri. Adakah anda sedar yang dalam kebanyakan kes, sebuah kereta susut nilai lebih kurang 1/5th dari nilainya sebaik sahaja bilik pameran ditinggalkan? Sebagai penanggung insurans, mereka hanya membayar nilai pasaran kereta anda pada masa kerugian, kekurangan terpaksa anda tanggung sendiri.
.
· Jika saya meminjam wang untuk memulakan satu perniagaan sendiri, saya boleh menghapuskan bunga terhadap pendapatan perniagaan saya yang mana boleh memberikan saya penjimatan cukai. Saya boleh juga menggunakan sejumlah pinjaman bagi mengembangkan lagi perniagaan dan ini adalah merupakan hutang produktif.
.
Pinjaman boleh menjadi produktif, sebagai aktiviti yang menjana kekayaan, atau ia akan menjadi pengalaman sebagai “hamba kepada peminjam”. Bijak pandai menggunakan hutang sebagai alat untuk menjana kekayaan, mendapatkan pengecualian cukai atau membesarkan pengurusan hartabenda. Bagi mereka yang kurang arif, kebiasaannya mereka merasakan yang hutang adalah alat untuk mendapatkan sesuatu yang mereka tiada berupaya mendapatkan melalui tabungan atau kesabaran.
.
Tidak semua hutang berbentuk tidak produktif. Keupayaan menguruskan kewangan secara berhemah membolehkan kita menjelaskan kadar bunga hutang dan juga membayar pokok nya sekali. Bila kita gunakan kaedah yang sama dalam perniagaan, hasilnya juga adalah sama. Aliran tunai yang dijana daripada hasil pinjaman mestilah mampu mengembangkan aliran pendapatan bagi membolehkan pembayaran balik tuntutan kredit dan pinjaman asal.
.
Adakah jenis “Hutang Baik”? Ya, ada. Hutang ini membolehkan beban kewangan dijelaskan sepenuhnya. Meminjam untuk membeli rumah, pendidikan anak-anak, memajukan kemahiran dalam kerjaya, atau memulakan perniagaan sendiri akan membolehkan anda mendapat faedah kewangan jangka panjang.
.
“Hutang Tak Baik” adalah bila anda meminjam untuk sesuatu yang tidak mendatangkan apa-apa feadah kewangan atau barangan tersebut mempunyai jangka hayat yang lebih singkat daripada jangkamasa pinjaman barangan itu sendiri. Ini termasuklah pinjaman untuk bercuti, membeli pakaian, perabut, barangan rumah atau pun makan luar.
.
Di dalam proses mengasingkan pekara-perkara negatif berkaitan hutang, kita seringkali beranggapan bahawa berhutang adalah suatu perkara yang tidak berfaedah dan tidak produktif. Semestinya ia tidak benar kerana hutang boleh digunakan secara produktif oleh individu, peniaga mahu pun badan-badan kebajikan.
.
Untuk lebih memahami, mari kita lihat takrifan hutang yang produktif dan tidak produktif:
· Jika saya meminjam wang untuk beli satu pengalaman atau benda-benda yang tidak boleh saya bayar, dan menambah hutang dengan caj faedah tinggi, saya telah dibebani dengan hutang tidak produktif.
.
· Jika saya meminjam wang untuk memperolehi satu aliran pendapatan yang menyumbang kepada pembayaran balik hutang, seperti pembelian lot kedai untuk disewa (kepada penyewa yang baik, harapnya!), Saya telah menggunakan hutang secara produktif.
.
· Jika saya meminjam wang menggunakan akaun margin untuk membuat spekulasi ke atas saham “panas” berdasarkan sembang-sembang/gossip, saya telah melibatkan diri dengan hutang yang tidak produktif dan berbahaya. Kesimpulannya, saya akan kehilangan wang (kebiasaanya) dan masih berhutang.
.
· Jika saya meminjam wang untuk membeli rumah, dan bercadang tinggal di rumah tersebut untuk masadepan yang dijangka, sekurang-kurangnya saya mungkin dapat mencapai “pulang-modal” sepanjang masa melalui peningkatan nilai rumah saya. Dalam mana-mana kes, ia akan menyelamatkan saya dari perlu membayar sewa sekiranya tidak membeli rumah, dengan ini, saya telah berhutang secara produktif.
.
· Jika saya meminjam wang untuk membeli sebuah kereta baru, dan berhutang lebih daripada 90% nilainya, saya akan terus menjadi tidak menentu dari segi penggunaan hutang jika kereta saya dicuri. Adakah anda sedar yang dalam kebanyakan kes, sebuah kereta susut nilai lebih kurang 1/5th dari nilainya sebaik sahaja bilik pameran ditinggalkan? Sebagai penanggung insurans, mereka hanya membayar nilai pasaran kereta anda pada masa kerugian, kekurangan terpaksa anda tanggung sendiri.
.
· Jika saya meminjam wang untuk memulakan satu perniagaan sendiri, saya boleh menghapuskan bunga terhadap pendapatan perniagaan saya yang mana boleh memberikan saya penjimatan cukai. Saya boleh juga menggunakan sejumlah pinjaman bagi mengembangkan lagi perniagaan dan ini adalah merupakan hutang produktif.
.
Pinjaman boleh menjadi produktif, sebagai aktiviti yang menjana kekayaan, atau ia akan menjadi pengalaman sebagai “hamba kepada peminjam”. Bijak pandai menggunakan hutang sebagai alat untuk menjana kekayaan, mendapatkan pengecualian cukai atau membesarkan pengurusan hartabenda. Bagi mereka yang kurang arif, kebiasaannya mereka merasakan yang hutang adalah alat untuk mendapatkan sesuatu yang mereka tiada berupaya mendapatkan melalui tabungan atau kesabaran.
.
Tidak semua hutang berbentuk tidak produktif. Keupayaan menguruskan kewangan secara berhemah membolehkan kita menjelaskan kadar bunga hutang dan juga membayar pokok nya sekali. Bila kita gunakan kaedah yang sama dalam perniagaan, hasilnya juga adalah sama. Aliran tunai yang dijana daripada hasil pinjaman mestilah mampu mengembangkan aliran pendapatan bagi membolehkan pembayaran balik tuntutan kredit dan pinjaman asal.
Every market is due for a pullback in order to have a healthy adjustment. The uncertainty about the economy’s strength and the fears about rising prices, not to mention worries over global instability, will continue gold’s growth to super heights. Another wild card would be the newly “liberated” Arab nations’ anti-Israeli protests that could ignite turmoil and could send the price of oil and commodities much higher. Markets cannot continue to peak without a correction said President Ron Fricke of Regal Assets.It’s all about perspectives. Smart investors don’t need to second guess that inflation is here and that the world is in turmoil. Besides, you can’t get a handle on US economy issue, because there is no handle.
Specialist gold analyst, Jeffrey Nichols, has continually been ratcheting up the number of reasons he sees for being bullish on gold, however, as he told Mineweb on the sidelines of the New York Hard Assets Conference last week, some of these are expansions of the multitude of factors among them: The U.S. Fed’s policy of an unprecedented level of money creation coupled with zero (or effectively negative) interest rates, the difficulties in reaching agreement on the U.S. budget coupled with enormous U.S. sovereign debt and eroding creditworthiness, the move by Central Banks to become buyers of gold rather than sellers, the onset of vehicles like ETFs which make it easier for the investor to buy gold, plus the increasing acceptance of gold as an investment class amongst major investing institutions, and finally, the limited growth in global mine production of gold .
He reckons gold’s fortunes remain very bright. With all the supportive price drivers ready to burst forth, “look for new all-time highs in the months ahead.” He does stick his neck out on a specific price prediction and reckons “gold has every chance of reaching $1700 by the year end, $2000 in 2012 and “possibly $3000 or even $5000″ before a time when he feels the cycle may eventually reverse later in the decade.”
Source: http://goldcoinblogger.com/price-corrections-are-healthy/
Specialist gold analyst, Jeffrey Nichols, has continually been ratcheting up the number of reasons he sees for being bullish on gold, however, as he told Mineweb on the sidelines of the New York Hard Assets Conference last week, some of these are expansions of the multitude of factors among them: The U.S. Fed’s policy of an unprecedented level of money creation coupled with zero (or effectively negative) interest rates, the difficulties in reaching agreement on the U.S. budget coupled with enormous U.S. sovereign debt and eroding creditworthiness, the move by Central Banks to become buyers of gold rather than sellers, the onset of vehicles like ETFs which make it easier for the investor to buy gold, plus the increasing acceptance of gold as an investment class amongst major investing institutions, and finally, the limited growth in global mine production of gold .
He reckons gold’s fortunes remain very bright. With all the supportive price drivers ready to burst forth, “look for new all-time highs in the months ahead.” He does stick his neck out on a specific price prediction and reckons “gold has every chance of reaching $1700 by the year end, $2000 in 2012 and “possibly $3000 or even $5000″ before a time when he feels the cycle may eventually reverse later in the decade.”
Source: http://goldcoinblogger.com/price-corrections-are-healthy/
Source: OnIslam
By Dandy Koswaraputra
Many Indonesians see dinars and dirhams as the best way of protection against economic fluctuations.
Seeing it as a source of security amid global economic instability, Indonesians are returning back to traditional Islamic currently in their daily transactions.
“I’ve chosen dinar because of it is safe and stable,” Hardjito Warno explained on Saturday, February 26.
The Indonesian man has been collecting gold dinars as a long-term investment since 2006.
He is now the holder of more than 50 coins in his deposit box, which he sometimes uses for certain purposes, such as paying education fees.
“[The] dinar is very liquid so I can use it for multiple purposes,” Warno said.
Dinar and silver dirham are available in shops in the world’s most populous Muslim country.
For collecting the Islamic coins, Warnoh regularly buys dinars from an agent in Jakarta.
“Sometimes I use dinar for transaction as Rasulallah teaches us,” Warno said.
There are at least 46 coin shops in the capital Jakarta and its surrounding cities, making it accessible for consumers to buy.
“In certain communities and areas the transaction using dinar and dirham have been applied,” he added.
The dinar measures 4.25 grams of gold, while the dirham is 3.0 grams of pure silver.
A golden coin is equivalent to about 582 ringgit (US183 dollars) while the silver coin is worth around 13 ringgit but their values fluctuate according to market prices.
Shield
Some Indonesians see dinars and dirhams as the best way of protection against economic fluctuations.
“I would say those who put billions rupiah of idle money in conventional banks are the losers and oppressors,” Endy Kurniawan, the author of a book titled “Think Dinar” revealed.
For some business people, putting cash in financial institutions is not the best way to invest money due to inflation and tax obligation.
“If we’re putting money in conventional bank then how much it could boost economic growth,” he asked.
The interest rates for depositing money in banks is six per cent a year in average, while the inflation rate in Indonesia is one or two per cent higher, according to the Indonesian Statistic Body.
Gold, which is typically most stable and liquid commodity, has traditionally been favourite jewellery for Indonesian housewives and become the best reliance for Muslims at needy situation, to sell or pawn.
“People have their own logic and consideration to decide, which one is better to protect their assets: holding gold or saving money,” Kurniawan added.
According to him, there is no specific data of how much dinar circulation exists in Indonesia.
Indonesia is the world’s 37st biggest gold reserves country, which is spread in a number of its big islands, such as, Sulawesi, Papua, Sumatra and Borneo; and about 18,500 tons have been produced to be fine gold and jewellery, according to data state own company PT Aneka Tambang.
Some Indonesians see the point of using dinars as part of efforts to uphold Shari`ah (Islamic law).
“It’s even more than investment. It is for upholding Islamic law,” Kurniawan said.
“It’s the weakness of using paper currency; using gold dinar would be fairer,” he added.
Fauzan Al-Anshari, director of the Islamic Study Institute, agrees.
“This is part of upholding Islamic law,” he said.
He hopes that the mushrooming dinar usage in Indonesia will inspire other countries to consider the establishment of using-dinar caucus countries, as a stepping stone of global economic reform.
“I suggest, Indonesia and any other Muslim countries, such as Pakistan, Malaysia, Brunei and Middle East countries to implement the usage of dinar as currency,” he said.
“If we want to be involved in creating economic prosperity then we must start from ourselves.”
Source: http://www.islamicmint.com/news_articles/articles/reverting_to_dinar.html
By Dandy Koswaraputra
Many Indonesians see dinars and dirhams as the best way of protection against economic fluctuations.
Seeing it as a source of security amid global economic instability, Indonesians are returning back to traditional Islamic currently in their daily transactions.
“I’ve chosen dinar because of it is safe and stable,” Hardjito Warno explained on Saturday, February 26.
The Indonesian man has been collecting gold dinars as a long-term investment since 2006.
He is now the holder of more than 50 coins in his deposit box, which he sometimes uses for certain purposes, such as paying education fees.
“[The] dinar is very liquid so I can use it for multiple purposes,” Warno said.
Dinar and silver dirham are available in shops in the world’s most populous Muslim country.
For collecting the Islamic coins, Warnoh regularly buys dinars from an agent in Jakarta.
“Sometimes I use dinar for transaction as Rasulallah teaches us,” Warno said.
There are at least 46 coin shops in the capital Jakarta and its surrounding cities, making it accessible for consumers to buy.
“In certain communities and areas the transaction using dinar and dirham have been applied,” he added.
The dinar measures 4.25 grams of gold, while the dirham is 3.0 grams of pure silver.
A golden coin is equivalent to about 582 ringgit (US183 dollars) while the silver coin is worth around 13 ringgit but their values fluctuate according to market prices.
Shield
Some Indonesians see dinars and dirhams as the best way of protection against economic fluctuations.
“I would say those who put billions rupiah of idle money in conventional banks are the losers and oppressors,” Endy Kurniawan, the author of a book titled “Think Dinar” revealed.
For some business people, putting cash in financial institutions is not the best way to invest money due to inflation and tax obligation.
“If we’re putting money in conventional bank then how much it could boost economic growth,” he asked.
The interest rates for depositing money in banks is six per cent a year in average, while the inflation rate in Indonesia is one or two per cent higher, according to the Indonesian Statistic Body.
Gold, which is typically most stable and liquid commodity, has traditionally been favourite jewellery for Indonesian housewives and become the best reliance for Muslims at needy situation, to sell or pawn.
“People have their own logic and consideration to decide, which one is better to protect their assets: holding gold or saving money,” Kurniawan added.
According to him, there is no specific data of how much dinar circulation exists in Indonesia.
Indonesia is the world’s 37st biggest gold reserves country, which is spread in a number of its big islands, such as, Sulawesi, Papua, Sumatra and Borneo; and about 18,500 tons have been produced to be fine gold and jewellery, according to data state own company PT Aneka Tambang.
Some Indonesians see the point of using dinars as part of efforts to uphold Shari`ah (Islamic law).
“It’s even more than investment. It is for upholding Islamic law,” Kurniawan said.
“It’s the weakness of using paper currency; using gold dinar would be fairer,” he added.
Fauzan Al-Anshari, director of the Islamic Study Institute, agrees.
“This is part of upholding Islamic law,” he said.
He hopes that the mushrooming dinar usage in Indonesia will inspire other countries to consider the establishment of using-dinar caucus countries, as a stepping stone of global economic reform.
“I suggest, Indonesia and any other Muslim countries, such as Pakistan, Malaysia, Brunei and Middle East countries to implement the usage of dinar as currency,” he said.
“If we want to be involved in creating economic prosperity then we must start from ourselves.”
Source: http://www.islamicmint.com/news_articles/articles/reverting_to_dinar.html
Significant Events and the Price of Gold in the Last 50 Years
1961: The London Gold Pool was established; U.S. central banks and seven nations agreed to buy and sell gold to support the $35 per troy ounce price established on January 31, 1934
1968: The London Gold Pool was discontinued; the two-tier gold price was established – one tier was for official monetary transactions, the other for open-market transactions
1968: Zurich Gold Pool, a buying cartel created by key Swiss banks, is established, giving Switzerland its dominant financial position in the market
1969: Gold Exchange of Singapore opens; serves as a very important link between Far East countries and London
1971: U.S. President suspends convertibility of dollar into gold; dollar devalued by 7.9%
1973: Official U.S. gold price increased to $42.22 per/oz.; US dollar devalued; two-tier gold price terminated; Organization of Petroleum Exporting Countries (OPEC) oil embargo begins
1974: Hong Kong gold market booms; government restrictions on imports lifted
1975: U.S. citizens allowed to hold gold bullion and gold coins for the first time in 40 years
1978: Middle Eastern investors increase gold purchases with oil profits
1980: Gold price peaks at an historic daily high on January 21
1987: Birth of the London Bullion Market Association (LBMA) establishing criteria for refiners and guaranteeing quality of gold bullion bars throughout the world
1989-1991: Conflict in Persian Gulf; collapse of Soviet Union marking end of Cold War; weak economic growth worldwide
1997-1998: Central Banks of several countries sell large quantities of gold holdings to meet currency criteria for Euro; East Asia suffers economic crisis
2000: China deregulates gold markets; Chinese citizens allowed to buy gold bullion after 50 years of closed markets
2000: USA technology sector and “Dot-com” stock market crash
2001: USA “9-11” terrorist attacks in New York City; gold begins historic rise as investors seek “safe haven” in physical gold
2002: China launches gold market, opening the Shanghai Gold Exchange
2003: Introduction of the Euro devalues the U.S. dollar on the international market; oil prices hit $78/barrel; gold surpasses $350/oz.
2006: Barrick Gold and Newmont Mining predict gold reserves will be depleted in 10 years at current production rates; gold prices surge 20% yearly since 2001 to over $650/oz.
2007: Dubai and Saudi oil producers announce major gold bullion purchases to be stored in Dubai; China announces plan to increase gold bullion purchases with excess cash reserves; Vietnam opens Ho Chi Minh Trading Center, Vietnam’s first gold exchange; Gold demand outpaces supply
2007: China invites five world banks, including HSBC, Societe Generale, and Standard Chartered to join the Shanghai Gold Exchange, opening the exchange to global trading
2008: Gold price breaks through $1,000 barrier in early 2008; China opens Shanghai Futures Exchange placing additional demand on gold supply; oil prices surpass $100/barrel milestone; gasoline hits all-time high in U.S.; U.S. crippled by financial crisis; U.S. Dollar hits new lows
1961: The London Gold Pool was established; U.S. central banks and seven nations agreed to buy and sell gold to support the $35 per troy ounce price established on January 31, 1934
1968: The London Gold Pool was discontinued; the two-tier gold price was established – one tier was for official monetary transactions, the other for open-market transactions
1968: Zurich Gold Pool, a buying cartel created by key Swiss banks, is established, giving Switzerland its dominant financial position in the market
1969: Gold Exchange of Singapore opens; serves as a very important link between Far East countries and London
1971: U.S. President suspends convertibility of dollar into gold; dollar devalued by 7.9%
1973: Official U.S. gold price increased to $42.22 per/oz.; US dollar devalued; two-tier gold price terminated; Organization of Petroleum Exporting Countries (OPEC) oil embargo begins
1974: Hong Kong gold market booms; government restrictions on imports lifted
1975: U.S. citizens allowed to hold gold bullion and gold coins for the first time in 40 years
1978: Middle Eastern investors increase gold purchases with oil profits
1980: Gold price peaks at an historic daily high on January 21
1987: Birth of the London Bullion Market Association (LBMA) establishing criteria for refiners and guaranteeing quality of gold bullion bars throughout the world
1989-1991: Conflict in Persian Gulf; collapse of Soviet Union marking end of Cold War; weak economic growth worldwide
1997-1998: Central Banks of several countries sell large quantities of gold holdings to meet currency criteria for Euro; East Asia suffers economic crisis
2000: China deregulates gold markets; Chinese citizens allowed to buy gold bullion after 50 years of closed markets
2000: USA technology sector and “Dot-com” stock market crash
2001: USA “9-11” terrorist attacks in New York City; gold begins historic rise as investors seek “safe haven” in physical gold
2002: China launches gold market, opening the Shanghai Gold Exchange
2003: Introduction of the Euro devalues the U.S. dollar on the international market; oil prices hit $78/barrel; gold surpasses $350/oz.
2006: Barrick Gold and Newmont Mining predict gold reserves will be depleted in 10 years at current production rates; gold prices surge 20% yearly since 2001 to over $650/oz.
2007: Dubai and Saudi oil producers announce major gold bullion purchases to be stored in Dubai; China announces plan to increase gold bullion purchases with excess cash reserves; Vietnam opens Ho Chi Minh Trading Center, Vietnam’s first gold exchange; Gold demand outpaces supply
2007: China invites five world banks, including HSBC, Societe Generale, and Standard Chartered to join the Shanghai Gold Exchange, opening the exchange to global trading
2008: Gold price breaks through $1,000 barrier in early 2008; China opens Shanghai Futures Exchange placing additional demand on gold supply; oil prices surpass $100/barrel milestone; gasoline hits all-time high in U.S.; U.S. crippled by financial crisis; U.S. Dollar hits new lows
Wednesday, 1 June 2011
Let's check the price, shall we?
10 years ago, how much was a bar of soap? Now, how much is it?
Don't know?
10 years ago, a bar of soap weight 100g, and selling 3 for RM 1.99
Now? A bar of soap weight 80g, and selling 3 for RM 3.30
How about the price of powdered milk?
10 years ago, a tin of 2.2KG full cream milk powder was selling at RM 15.99
Now? A bag of 1.8KG full cream milk powder is selling for RM 45.99
You have your calculator ready?
Let's find out the REAL INFLATION RATE the Rakyat are facing, from 2001 to 2011.
10 years ago, how much was a bar of soap? Now, how much is it?
Don't know?
10 years ago, a bar of soap weight 100g, and selling 3 for RM 1.99
Now? A bar of soap weight 80g, and selling 3 for RM 3.30
How about the price of powdered milk?
10 years ago, a tin of 2.2KG full cream milk powder was selling at RM 15.99
Now? A bag of 1.8KG full cream milk powder is selling for RM 45.99
You have your calculator ready?
Let's find out the REAL INFLATION RATE the Rakyat are facing, from 2001 to 2011.
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