2010-10-20

Movements in gold prices remain dominated by the dollar

Along with most other commodity markets, movements in gold prices remain dominated by the dollar. After starting yesterday on the back foot, renewed dollar weakness saw precious metals regain lost ground on investor demand. Physical demand once again all but evaporated as prices rose.

Today, comments by the US Treasury Secretary have lent the dollar some support, prompting a slight pullback across the precious metals complex. Treasury Secretary Geithner committed to working “very hard” in order to ensure that “confidence in a strong dollar” is preserved. Unlike yesterday, the dip in prices, has failed to attract significant physical buying in gold and silver.

The dollar’s gains are expected to be temporary, as the markets once again focus on further quantitative easing by the Fed. As such, we expect to see investor demand return to gold and silver markets.

Gold support is at $1,356 and $1,343. Resistance is at $1,378 and $1,388.

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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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