2009-09-18

Another 277,245oz were added to ETF gold holdings


















After trading above USD1,020 at yesterday, gold remains the focus in the commodities markets. It continues to find good support whenever it breaks lower. However, close to USD1,033, resistance is also growing. Gold ETFs continue to add to their holdings. The latest figures show that another 277,245oz were added to ETF gold holdings. There is still good resistance in the physical market (in which buying activity has slowed down substantially).

The now familiar trend continues. Equities continues to make gains, and the futures market signals this may continue today in the US. US treasuries are on the back foot, with the 10-year yield rising 10 bps in a few minutes, to trade around 3.40%. As a result, the dollar continues to weaken. Gold support is at USD1,025 and USD1,030, and support at USD1,010 and USD1,000.

Back to Malaysia, due to USD weaken compare to RM the gold price profit invest in Ringgit Malaysia had drop. Compare early of this year when Gold hits 1,000 gold price in RM is 114 in Public Bank buying but now only RM112 per gram when gold hits USD1020 per oz.

Public Bank Gold Investment Account as at 17/09/09 3:50 PM

Selling PriceBuying Price
1 gramRM 116.6800RM 112.1400

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Malaysia Gold Investment

I found Gold Investment in Malaysia is a vary good tools to make profit when the market is down. I also found that Gold Price go up and down more slower compare to share market so to make money in long term, Gold is the right tools. This blog is all about Malaysia Gold Info and the way to make profi

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