Gold is trading at new highs - Report From Standard Bank

Risk appetite is back this morning which is benefiting gold. The increased risk appetite comes as G20 leaders signal continued stimulus for the global economy. As a result the dollar is weaker this morning. Gold is trading at new highs—and we expect more upside. Underlying support remains in place and this should be the case for the rest of the quarter. Our target for the US dollar against the euro remains $1.60 towards the end of Q1:10. We believe $1,150 for the gold price is a real possibility. However, at this stage we are slightly less bullish on gold next quarter. As we head into Q1:10, we also expect some the dollar weakness to be offset by seasonal weakness in the jewellery market.

With gold edging above $1,100 this morning in Asia, there has been some short covering pushing the price quickly towards $1,105. The fact that the dollar is trading around the $1,50 level against the euro is adding to the gold buying. Although there was some consolidation this morning in the price around $1,105, the US market might come in and buy more gold. However,
we expect resistance from the physical market as more scrap may come to the market. Gold support is at $1,090 and resistanceis at $1,110.


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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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