US Dollar ambruk, emas naik terus, rupiah tetap santai.
JSX menggila, ANTM tenang2 aja.
Apaan tuh?
rz
=====
http://quote.bloomberg.com/apps/news?pid=10000086&sid=aKuBpw2waFus
Gold Rises to 16-Year High After Dollar Weakens Against Euro
Dec. 2 (Bloomberg) -- Gold futures rose to a 16-year high in
electronic trading as the dollar fell to a record against the euro,
increasing the appeal of the precious metal as a hedge against
declines in U.S. assets.
The dollar fell to a record against the euro, and near its weakest in
almost five years against the yen, on speculation Japan and Europe
won't unite to stem the U.S. currency's fall. Gold has risen 10.3
percent in the past two months as the dollar fell 7.67 percent
against the euro.
With gold ``at 16-year highs while the dollar has multi-year lows in
its sights, the consensus prescription is buy gold, sell dollars,''
Andy Smith, an analyst at Mitsui & Co. in London, said in an e-mailed
report.
Gold for February delivery rose $2.40, or 0.5 percent, at 11:51 a.m.
Singapore time to trade at $458.30 an ounce in after- hours trading
on the Comex division of the New York Mercantile Exchange. It had
earlier risen to as much as $458.40, the highest for a most-active
futures contract since June 20, 1988.
Gold for immediate delivery also advanced to a 16-year high. It rose
$2.32, or 0.51 percent, to $456.27 an ounce at 11:54 a.m. Singapore
time after having reached as high as $456.45 an ounce, the highest
since June 10, 1988. At 1.30 p.m. yesterday in New York, it was
$453.95 an ounce.
Gold on the spot market has ``in the past two or three weeks had very
good consolidation between $450 and $455 an ounce,'' which is a
bullish sign, said Ellison Chu, manager of precious metals at Hong
Kong-based Standard Bank Asia Ltd. over the telephone.
Stop-Loss
Rising prices may flush out speculators who had sold gold they didn't
own in anticipation of buying back at a profit when prices fell. When
prices rise, they may buy to stem their losses.
``We should expect some-stop loss buying above $458 an ounce from the
short side, then the market will shoot up to the $462 area,'' Chu
said.
The dollar declined to $1.3372, its weakest against the euro. It was
at $1.3367 at 11:47 p.m. in Singapore according to EBS, an electronic
currency dealing system. Against the yen, the U.S. currency was
102.31. The dollar dropped as low as 102.15 yen from 102.58 in New
York and compared with 102.01 on Nov. 26, the weakest in almost five
years.
Hiroshi Watanabe, Japan's top currency policy maker, yesterday said
Japan and Europe haven't discussed measures to stop the dollar's
slide, adding that the two nations can take joint action if
necessary. Japan hasn't sold yen since March and the European Central
Bank last entered the markets in 2000.
``They can discuss whatever they want, it doesn't mean it's going to
happen,'' said Harvinder Kalirai, a market analyst in Sydney at State
Street Corp., the world's largest custodian of assets with more than
$1.2 trillion under management. ``Any initial intervention is going
to be from Japan alone, not coordinated with the ECB. It's going to
take a higher euro before the ECB joins Japan.''
Tokyo, Silver
On the Tokyo Commodity Exchange, the benchmark October 2005 contract
gained 7 yen a gram to 1,504 yen a gram at 11:56 a.m. in Singapore.
In Shanghai, the benchmark 99.95 percent gold contract rose one yuan
to 121.45 yuan a gram at 11:58 a.m. Singapore time, according to the
Shanghai Gold Exchange Web site. The prices are one hour behind.
Silver futures on Comex also rose, tracking the gains in gold,
Standard's Chu said.
Silver for March delivery on Comex gained 0.005 cent to $8.085 an
ounce, after having risen to as high as $8.11. It reached $8.13
yesterday, the highest since April 8, 2004.
Traders are cautious about buying silver at this level, as
speculative funds are controlling the market, Chu said.
To contact the reporter on this story:
Chia-Peck Wong in Singapore at [EMAIL PROTECTED]
To contact the editor responsible for this story:
Peter Langan at [EMAIL PROTECTED]
Last Updated: December 1, 2004 23:26 EST
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