Short Term Gold correction

Gold is correcting downwards with the following indicators: 1650, 1600 (1590), 1550
There is some evidence of de-leveraging from gold into fiat currency either from Europe or US. A combined factor of good news from US and not so good news from Europe will entice people out of gold and into US dollars.

As of friday close, the Straits Times Index (STI), at 3163.56, had generated a year-to-date gain of 19.5%. Taking into account dividends of the 30 stocks, the total return of the STI was boosted to 23.1%.

From SGX's website: a total of 25 STI stocks are currently in the Green for 2012, with five stocks in the Red.

 

"Performances of these STI stocks in the year to date are as follows:

• Financial STI stocks are made up of three Banks, five Real Estate stocks, a REIT and a diversified financial, Singapore Exchange [S68], which gained 13.9%. Four of the five best STI performers were Real Estate Stocks, CapitaMalls Asia [JS8] gained 70.4%, Capitaland [C31] gained 65.6%, Global Logistic Properties [MC0] gained 56.7% and HongKong Land [H78] gained 54.4%. City Developments was the sixth best performing STI stock generating a gain of 44.7%. The STI’s REIT CapitaMall Trust [C38U] gained 24.7% or 31.17% taking into account dividends. DBS Group [D05] gained 29.3%, UOB [U11] gained 29.2% and OCBC [O39] gained 24.1%.The broader FTSE ST Financials Index gained 36.3% over the year thus far after declining 23.4% in 2011.

• All six of the STI Industrial stocks, like the Financial stocks, are in the green in the year thus far. Industrial stocks saw Fraser & Neave [F99] gain 56.5%, Singapore Technologies Engineering [S63] gain 41.3% and Jardine Matheson Holding [J36] gain 31.2%. The next tier of price performances saw Jardine Strategic Holdings [J37] gain 28.7%, SIA Engineering [S59] gain 25.4% and Noble Group [N21] gain 2.7%. The broader FTSE ST Industrials Index has gained 26.6% over the year thus far after declining 18.5% in 2011.

• The two STI telecommunication stocks saw Starhub [CC3] with a gain of 29.6% outpace the Singtel [Z74] gain of 10.0%. The FTSE ST Telecommunications Index gained 11.4% over the 2012 year thus far after gaining 5.0% in 2011. Starhub is the ninth best performing STI stock of the year thus far.

• The three Oil & Gas stocks, saw SembCorp Industries [U96] gain 29.1%, SembCorp Marine [S51] gain 20.2% and Keppel Corp [BN4] gain 16.9%. The broader FTSE ST Oil & Gas Index has gained 22.2% in the year-to-date after declining 17.4% in 2011.

• Consumer Services stocks of the STI were mixed. These five stocks were led by ComfortDelGro [C52] which gained 23.3% and Singapore Press Holdings [T39] which gained 9.5%. Singapore Airlines [C6L] gained 8.0%, Jardine Cycle & Carriage [C07] marginally declined 0.1 % and Genting Singapore [G13] declined 10.3%. The broader FTSE ST Consumer Services Index gained 3.9% over the 2012 year thus far after declining 18.8% in 2011. Consumer Goods stocks of the STI declined, Golden Agri-Resources [E5H] declined 11.2%, Olam [O32] declined 27.0% and Wilmar [F34] declined 35.4%. The broader FTSE ST Consumer Goods Index declined 19.8% after declining 18.8% in 2011."