Gold Quarterly Outlook (Q3 2023)
Based on our internal analytic system, there is a good chance of gold price continuing its downtrend for the current quarter (July-Sep 2023). Having said that, the expected drawdown will be rather limited, like what we have seen in Q2 2023 as the selling momentum is still weak at the moment. Gold price is likely to retest last quarter low around 1892USD/oz. A break below 1890USD/oz might open the door towards 1804USD/oz which was the 2023 low. However, chances of hitting 1804USD/oz is still low unless selling momentum picks up over the next 3 months.
Silver Quarterly Outlook (Q3 2023)
Based on our internal analytic system, silver has a relatively similar outlook as Gold. We expect silver to continue its downtrend for another quarter (July-Sep 2023). Silver is likely to revisit Q2 low around 22USD/oz. A break below 22USD/oz might lead Silver to trend lower towards 20USD/oz which was the low for 2023. Again, chance of hitting 20USD/oz is rather slim right now considering the selling momentum is still very weak.
Platinum Quarterly Outlook (Q3 2023)
We also expect Platinum price to fall in the Q3 2023. The selling momentum for Platinum is picking up since the beginning of 2Q 2023. Hence, we might see a bigger drawdown on Platinum. The first important level to watch is 885USD/oz which was the low for 2023. If Platinum breach below 885USD/oz, we might expect the price trending toward 820USD/oz region, which was the 2022 low.
GoldSilver Central offers a wide range of products such as physical precious metals, GSC Savings Accumulation Program and GSC Live! app to help customers to manage their precious metals portfolio effectively. Contact us at +65 6222 9703 or via Whatsapp (+65 88939255) to find out more!
As the holy occasion of Hari Raya Haji, also known as Eid al-Adha or the Festival of Sacrifice, draws near, we joyfully embrace this moment to reflect, connect, and strengthen the bonds of unity. With a deep-rooted history and cherished customs, Hari Raya Haji holds a special place in the hearts of Muslims worldwide. GoldSilver Central extends warm greetings and best wishes to all on this auspicious occasion.
Hari Raya Haji commemorates the profound devotion and unwavering faith of Ibrahim (Abraham), who demonstrated his obedience to God’s command by offering to sacrifice his beloved son, Ismail (Ishmael). In this act of submission, God replaced Ismail with a ram, signifying His acceptance and providing a powerful symbol of sacrifice and faith.
One of the key rituals of Hari Raya Haji is the qurban or udhiya, the act of sacrificing an animal such as a goat, sheep, cow, or camel. This symbolic sacrifice honors Ibrahim’s willingness to make the ultimate sacrifice and serves as a reminder of the values of selflessness, generosity, and sharing. The meat from the sacrificed animal is divided into three portions: one-third for the person making the sacrifice, one-third for family and friends, and one-third for those in need, fostering a sense of compassion and unity within the community.
Hari Raya Haji follows the completion of the Hajj pilgrimage, during which millions of Muslims embark on a spiritual journey to the holy city of Mecca in Saudi Arabia. This pilgrimage is a profound experience of devotion, self-reflection, and unity among the global Muslim community. The celebration of Hari Raya Haji allows Muslims worldwide to join in the spirit of unity and express gratitude for the blessings received.
On the morning of Hari Raya Haji, Muslims gather at mosques or open prayer grounds to perform the special congregational prayer, Salat al-Eid. These prayers, led by an imam, provide an opportunity for Muslims to come together in worship, reflection, and gratitude. The sermon delivered during the prayers emphasizes the significance of sacrifice, faith, and the importance of living righteous lives.
This festive occasion also encourages gatherings with family and friends, where homes are adorned with colorful decorations and delectable traditional dishes are prepared. It is a time for joyful reunions, exchanging greetings, and embracing the spirit of forgiveness and reconciliation. Together, loved ones savor the joyous moments, strengthening familial bonds and fostering a sense of togetherness.
As we celebrate Hari Raya Haji, GoldSilver Central extends heartfelt wishes to our clients, partners, and the wider community. May this joyous occasion bring peace, prosperity, and blessings to all. Let us embrace the values of faith, sacrifice, and unity, and may our collective efforts contribute to a world filled with compassion and harmony.
Dear Friends and Valued Customers,
At GoldSilver Central, we believe in celebrating the richness of diverse cultures and traditions. As the Dragon Boat Festival draws near, we want to take a moment to extend our heartfelt wishes for a joyous and blessed celebration to all our viewers.
The Dragon Boat Festival, also known as Duanwu Festival, is an iconic event that has been celebrated for centuries in various parts of Asia, particularly in China. This colorful festival is held on the fifth day of the fifth month of the lunar calendar, which usually falls in June. It is a time when communities come together to commemorate the life and death of the great poet and statesman, Qu Yuan.
Legend has it that Qu Yuan, a loyal advisor to the Chu kingdom during the Warring States period, drowned himself in the Miluo River as an act of protest against political corruption. The locals, deeply saddened by his death, raced out in their boats to save him or at least retrieve his body. They beat drums and threw rice dumplings, called zongzi, into the river to distract the creatures from harming Qu Yuan’s remains. This act of racing, drumming, and tossing zongzi has become the centerpiece of the Dragon Boat Festival, symbolizing bravery, unity, and the triumph of the human spirit.
During this festive occasion, families and friends come together to enjoy thrilling dragon boat races, where intricately designed boats, often painted like dragons, glide across the water with synchronized paddling. The exhilarating atmosphere, accompanied by the rhythmic beats of the drums, fills the air with excitement and solidarity.
At GoldSilver Central, we embrace the spirit of the Dragon Boat Festival. We take this opportunity to reflect on the values it represents: the strength of community, the pursuit of righteousness, and the importance of standing united in the face of adversity.
On behalf of our team, we extend our sincerest wishes to you and your loved ones for a blessed Dragon Boat Festival. May this joyous occasion bring you renewed inspiration, happiness, and prosperity. Let us continue to cherish and preserve the beautiful traditions that unite us all.
Happy Dragon Boat Festival!
Sincerely,
GoldSilver Central
