This cycle is about to end soon. In other words, it is time to lock in and fold now. The risk-reward ratio is not in our favor. Gold price has shot up in recent days. Sign of another crisis to come?
On the local front, this uptrend cycle is seen as a play up to create a false perception as a diversion to the reality of what our country is facing now given our government inaction or inability to provide a framework to ward off further recessionary threat. Let alone taking us out. Perhaps, they were busy playing witch hunting in the political arena. Or they don't have any idea how to. Maybe we just don't have to money. The recent fuel hike masterstroke acts as a proof to that especially at the same time, the Singapore government reduced their pump price by 6 cents a litre.
The reality above all that is the people are feeling the pinch from a stagnant economy coupled with inflationary pressure.
Malaysia’s global competitiveness ranking dropped three positions to 24, according to the World Economic Forum’s Global Competitiveness Report for 2009-2010 released today.
The drop essentially was the result of a much poorer assessment of its institutional framework, said the report, which was released ahead of WEF’s annual meeting of the New Champions 2009 in Dalian, China.
The report said every indicator in the area had been exhibiting a downward trend since 2007, causing Malaysia to tumble from 17th to 43rd position in this dimension in just two years.
Switzerland topped the overall ranking of 133 economies, with the US fell one place to second position, and Asia continued to feature prominently with Singapore at third and Japan at eighth, and Hong Kong, South Korea and Taiwan all in the top 20.
The report also said security was of particular concern in Malaysia with its ranking dropped 25 levels to 85th.
Malaysia national gold reserve has dropped from 72.7 tons in July 1999 to a mere 12 tons as of July 2009.