"How Far Will Gold Prices Go From Here?" Seminar

                        In the recent economic backdrop- the state of Euro and US Dollar, impact of US Fed Debt, impact of interest rate trends, impact of increasing demand from India and China and the west have slow down the global economy. However, gold prices may on the bullish trend. Come and hear from our speaker to discuss the bullish fundamentals that will push  gold prices higher over the next few years.

 

                        Phillip Futures is proudly present " How Far Will Gold Prices Go From Here?" seminar by Mr. Jeffrey Nichols managing director of American Precious Metals Advisors (ASMA) he provides expert analysis of the economics of precious metal markets and offers strategic consulting and market research services to a wide range of corporate and government clients. Jeff has an unusual depth and breadth of knowledge and experience. He has worked with mining companies on financing and investor relations, served as a director of public corporations and nonprofit associations, managed a mining related mutual fund, and advised institutional investors, industry associations, national mints, central banks, jewelry manufacturers and precious metals investment dealers.

 

Date:              2^nd June 2010, Wednesday

Time:             7.00 p.m. – 9.00 p.m.

Venue:           Phillip Futures Sdn Bhd

                                                                                                B-2-6, Block B, Level 2, Unit 6,

                                                                                                Megan Avenue II

                                                                                                12, Jalan Yap Kwan Seng

                                                                                                50450 Kuala Lumpur

 

 

           

                        For registration, please call us at 603-2162 1268 with your full name, contact number and email address. Seats are limited!

                       

 

FKLI Outlook by AmFuture - 27 May 2010

KLCI fall for 9th straight session down 0.19% at 1248.94. The KLCI rose as high as up 10.14 points in early trade at one stage, backed by bargain hunting activities mainly in key blue chips. Asian markets end higher with Nikkei rising 0.66% or 62.77 points to 9,522.66, Kospi gaining 1.36% or 21.29 points to close at 1,582.12 and the HSI ending 210.95 points higher at 19,196.45. Meanwhile on the fkli, the May contacts gains 12 pts to settle at 1253, 5 points premium against cash and expired next week Monday.  Total volume closed to 20,000 contracts largely contributes by the month end roll over activities.
 
KLCI has series breakdowns since last week. Violation of the 200SMA, and despite the regional market rebounded, the KLCI still close lower reflecting how fragile and bearish the market is. We expect the fkli to open lower and the basis narrow and become discount. Asian stocks at time of writing make a shaky start, as fresh fears over the stability of the euro zone sparked a wave of selling on Wall Street. The immediate technical support outlook for fkli  is the1220 pt-level, To the upside resistance, the 200SMA lies at the 1268 pt-level. Bursa Malaysia will be closed tommorrow for Wesak Holiday
 

 US Market

 U.S. stocks and the euro pared deep losses to end mostly flat last night as investors had second thoughts that a festering euro zone banking crisis will spread worldwide and strangle a reviving economy.  A late-day rally pulled the benchmark S&P 500 into positive territory minutes before the closing bell and wiped out most of the session's losses for the Dow, which closed above the key barrier of 10,000.   The Dow closed down 22.82 points, or 0.23%, at 10,043.75. The Nasdaq Composite Index fell 2.60 points, or 0.12%, at 2,210.95

FKLI Outlook by AmFuture - 26 May 2010

KLCI extended their losses yesterday on continuous selling mainly in plantation (-109 or 1.82%)and Korea over the sinking of a warship. Other Asian is bad too with Nikkei falling 298 (3.06%) its lowest finish almost 6 months. Kospi ended down 44.10 points (2.75%), while Hang Seng Index dropped 682 (3.47%).
The technical landscape of fkli deteriorated tremendously last five days. It violated the key 200 SMA support for cash and fkli. With the violation of the 1268, we shifting our near-term outlook to bearish. 

Overall, sentiment remain in the near term was likely to drive extended volatility in the market with the fkli possibly attempting to consolidate after the sharp losses over the past week. The small losses in Dow last night can provide some respite from the carnage. Anyway, we think the current support line would only provide temporary support for the market following the anxiety in global market. Maintain selling on strength. Immediate resistance lies at the 1270 levels, followed by the 1280.

US Market

U.S. stocks and the euro pared deep losses to end mostly flat last night as investors had second thoughts that a festering euro zone banking crisis will spread worldwide and strangle a reviving economy.  A late-day rally pulled the benchmark S&P 500 into positive territory minutes before the closing bell and wiped out most of the session's losses for the Dow, which closed above the key barrier of 10,000.   The Dow closed down 22.82 points, or 0.23%, at 10,043.75. The Nasdaq Composite Index fell 2.60 points, or 0.12%, at 2,210.95
  

FKLI Outlook by AmFuture - 25 May 2010

KLCI Index fell for a seventh day, losing 12.04 pts, or 0.9%, to close 1,273.69, its lowest close since Feb. 25 as Sime Darby the country's second-biggest company by market value, tumbled on concerns that it may have to write off more losses at its energy division. On the fkli, the May contracts tumble 14.5 points to settle at 1372, a points discount.

The outlook is no good. As the fkli spot month fast approaching the 200SMA support at 1264. We do not advise players to buy at the moment due to external factor  providing all the risk. Admits doubts about the strength of the global economy recovery and European struggle to contain the region debt crisis as well as the correction in Dow, KLCI is likely to see more correction ahead. Cross-below the 200 SMA will pull more losses ahead. However, the selling a bit overdone at the moment could lead to a slight rebound in the near term but we recommend selling on any rebound. Immediate support revise lower to 1265-1250 while resistance at 1288-1295

US MARKET

U.S. stocks slid on Monday after Spain's bailout of a small bank raised concern about Europe's financial system, boosting safe-haven demand for gold and U.S. Treasuries. Stocks had a volatile session, with the Dow and the S&P 500 sinking more than 1% in the final trading minutes. In Europe, however, stocks snapped a three-day losing streak as rising mining shares offset declines in bank stocks.   The Dow ended down 126.82 points, or 1.24%, at 10,066.57 while The Nasdaq Composite Index slid 15.49 points, or 0.69%, to 2,213.55

FKLI Outlook by AmFuture - 24 May 2010

FBM KLCI extended its losses n Friday in line with weaker regional market on concern over the economic situation in Europe. Cash market fell by 18.43 pts or 1.4% to close at 1285.73 off its low at 1280.63. Week on week the KLCI down 53 pts or 4%.  Meanwhile on the FKLI, May drop 17pts to settle at 1286.5 while Jun dwindle 18.5 pts to settle at 1284. Total volume transacted higher to 14,686 contracts, largely contribute by the end months roll over activities.

For this week  we anticipated the market will be dominate by roll over activities. The May contracts will expire in 4 days as this Friday Bursa Malaysia closed for Wesak Holiday. Technically, the market is grossly oversold and the market may stage a technical rebound. Nevertheless but we do not expect a strong rebound as concern and anxiety over Europe will have negative impact on the market. Immediate resistance peg at 300 and 1310 while immediate support lowers to 1277 and 1260.