2009-09-11

Good News From US Gold Price USD1,000 Remain Strong

Yesterday sees the release of the initial jobless claims and continuing claims data in the US - lagging indicators which show that the US economy is indeed recovering. The market expects another decline in jobless claims - albeit only a small 10K fall. Meanwhile, US Treasury yields are rising steadily again, with the 10y yields just below 3.50%. Equities are also finding good support. On top of this, the futures market still expects monetary tightening in the US only by Q2:10 indicating that liquidity should remain adequate (currently the options market is pricing a rise of 25bp in Q1:10).

















For gold, resistance to a sustainable move above USD1,000 remains strong. Gold has slipped to the mid-USD980’s yesterday after failing to move higher. What makes the resistance even more remarkable is that gold has failed to move higher despite the dollar falling almost 1% against the euro yesterday.

However, the positive sign is that gold is also finding good support in the mid-USD980’s. While the recent move might have been to much to fast, most of the report maintain that gold could move closer towards USD1,100 as we head towards the end of the year and also expect more weakness in the dollar.

While gold is building resistance against dollar weakness at the moment so Gold price likely support at USD990 and USD983, and resistance at USD1,004 and USD1,015. For Malaysia if USD value drop the profit of gold sale in RM will drop.

Public Bank Gold Investment Account as at 11/09/09 11:51 AM

Selling PriceBuying Price
1 gramRM 115.1000RM 110.6000

0 comments:

Related Posts Plugin for WordPress, Blogger...

KLSE Info Zone

About This Blog

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

Blog Malaysia

BlogMalaysia.com

  © Free Blogger Templates 'Greenery' by Ourblogtemplates.com 2008

Back to TOP