Malaysia Gold Price Drop To RM104.94 Per Gram











Gold and silver are sharply lower at yesterday , influenced by a stronger dollar and weak global
equity markets. The fear that world economies are slowing and the financial crisis is still intact
has pressured most physical commodities. The energy sector seems to be a
leader on the downside, weakness is much more pronounced than other physical markets.


Gold is not the market to press, it is actually holding a range as other commodities move into
new low territory, The demand side of the market received negative news this morning with the
Finance Minister of India announced that the import duty on gold bars is being raised to 200
rupees per 10 grams from 100 rupees and the import duty for silver is also being doubled.

This is not good news for Indian physical offtake, as imports are now projected to be down 50
percent in 2009. The world economic recovery seems to be stalling and that will be an issue
for all physical commodities. Be very careful trading the long side of the metal markets, the
downside is such a quicker and faster game.

Back to Malaysia Gold price, the price move same with USD and USD gold price is there has been speculation regarding the dollar’s position as the global reserve currency and what might happen in this regard at this week’s G8 meeting. We doubt the issue of the dollar’s status as reserve currency will be raised at all during the meeting. The dollar could find some strength if this is
the case and Malaysia gold price will be up.

Public Bank Gold Investment Account as at 06/07/09 3:50 PM

Selling PriceBuying Price
1 gramRM 108.1100RM 103.9100

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