2009-09-30

Foresee Even More Dollar Weakness During Q1:10

http://beta.images.theglobeandmail.com/archive/00047/loonie_dollar_bil_47021gm-a.jpg

With gold dipping towards the mid-USD980s, base on some report they are seeing some physical buying return to the market. Gold remains very well supported despite recent dollar strength. Dollar view remains unchanged, with USD1.5000 against the euro our year-end target.

Some report also foresee even more dollar weakness during Q1:10. Combined with seasonal jewellery demand, our gold view remains one of buying on dips. Gold support today is at USD985 and USD980, with resistance at USD996 and USD1,002.

Public Bank Gold Investment Account as at 29/09/09 3:51 PM

Selling PriceBuying Price
1 gramRM 114.0900RM 109.6600

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Malaysia Gold Investment

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