USD1,100 Appear To Be The Next Gold Price Targets.















Gold reached a record high of USD1,044 in New York trade yesterday. Initially the move was technical in nature, however volumes picked up strongly, lending weight to the rally. That impetus has seen gold manage to hold its ground and push higher still this morning with the yellow metal climbing above USD1,048/oz. With the metal’s previous technical charts now thrown in the dustbin, the round figures of USD1,050 and then USD1,100 appear to be the next targets.

On the investment side, the SPDR gold ETF added 2.441 metric tonnes to its gold investment holdings yesterday.

Public Bank Gold Investment Account as at 07/10/09 3:51 PM

Selling PriceBuying Price
1 gramRM 117.5800RM 113.0100

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