Expect Sideways Or Lower Gold PricesToday

A rally in crude oil prices during New York trading yesterday spilled over into the precious metals, with gold climbing from USD951 to USD970 in NY trade. Investor profit-taking during in Asian trade this morning, has however seen prices retreat to USD963. Expect sideways or lower gold prices today. The larger rally is still going, this is merely a small correction.

Back home to Malaysia, Gold price in RM still moving along with world gold price and currency exchange between US dollar with RM still keep stable around RM3.52 per dollar. Gold demand in Malaysia may see some increment toward Hari Raya and Deepavali.

Public Bank Gold Investment Account as at 05/08/09 3:51 PM

Selling PriceBuying Price
1 gramRM 111.1900RM 106.8600

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