Gold Likely To Broken USD980 Level In This Month

















In month of July gold price was zip zap up and down between USD920 to USD950 due to US dollar currency. The US DOLLAR rallied 100 basis points quite suddenly, sending gold & silver into a sharp correction. Ysterday that all reversed.The US DOLLAR INDEX fell 100.1 basis points back to the very scraping bottom of its range, 78.317. Now this either confirms that 78.33 bottom on 2 June & 28 July, or, it will break thru that 78.33 level to drop another 200 bips, and maybe hit 76. Remember, when markets repeatedly test a resistance or support level, chances are they will break thru. More downside is most likely US Dollar course, and the same reason Gold price may likely to broken USD950 level soon.

Malaysia gold price may work the same due to conversion currency between Malaysia and US Dollar likely to broken RM108 per gram level.

Public Bank Gold Investment Account as at 31/07/09 3:51 PM

Selling PriceBuying Price
1 gramRM 108.7100RM 104.4600

today opening will be jump RM2.00 in both selling and buying price.

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