2009-10-28

Malaysia Gold Drop With USD Value Up

US equities sold off yesterday and Gold were lower. While risk appetite has been limited yesterday, the US bond market is doing fine. US treasury yields have not declined (they usually do, when risk aversion rises). Although the bias has to lie with risk appetite remaining low yesterday, there could be a turnaround in the US — and some resultant short-covering if economic data is positive. Watch out for the CaseShiller House prices and US Consumer Confidence data in the US.

Most investor observed buying appetite in the physical gold market yesterday. But physical buying is being overshadowed by investment selling of gold. The break lower yesterday, which we were looking for all of last week, pushed gold as low as $1,037. Gold is presently holding firm at $1,040, and we have seen some buying interest at these levels. Technically, gold could test $1,024, from where we see a recovery. Resistance is at $1,045 and $1,048.

Back to Malaysia physical gold market sale is drop compare last year, this may be due to high gold price. With USD value moving up, Malaysia Gold price will drop and base on the chart RM113 level likely to give good support. However if RM110 level broken, gold will drop into bear market. I think this level is unlikely to broken but if it did so is a good entry to buy gold to keep.

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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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