2009-05-18

Gold Had Hits RM106.69 Per Gram

GOLD markets are behaving so strangely, Usually when a market breaks through
resistance (or support), it jumps ahead like a paper wad out of a rubber band. The pent up strength pushing it up is at last loosed, and shoots ahead.

If the market approaches a resistance area and stays a couple of days without penetrating, usually it falls back.

Not the gold markets, not this week. The Gold Price shot thru the major resistance at US$920, but instead of shooting ahead or falling back, it has edged up a couple of bucks a day all week. Odd! A

More mystery is added. The premiums on physical gold last week seemed to say, "Oh, well, let's fall back to normal." Then they did it all in three days, after acting abnormally for 8 months (since September last), dropped to where they were a year ago.

But this makes no sense, because nothing happened in the price movement to justify such changes. It simply doesn't add up. And although the public is not buying (I keep checking the phone to see if it's been disconnected), somebody big is buying, on balance, because the gold price rises two bucks or more every day.

http://jutawanemas.com/v1/wp-content/uploads/2008/06/kijang_rm200.jpg


So what do we know when things don't make sense? Someone is probably behind it somewhere, I had read a report write that China is buy a lot of Gold.

For now things appear to have simmered down and resumed an even keel Well, wait -- just wait. gold stand a good chance of another run at $1,000 next week, but even if they don't, they will later this year, and will puncture $1,000 and leave it on the side of the road like a cast-off innertube.

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