Gold managed to reach a 7-week high

An escalation of tensions in the MENA region over the weekend has heightened the safe-haven appeal of precious metals. Protests continue in Bahrain, while demonstrations have been met with violence in Libya. Unrest is also beginning to surface in Morocco. Gold managed to reach a 7-week high, while silver rose to its highest level in three decades. Palladium reached a 10-year peak.

Adding to investor demand are also concerns over rising inflation in Europe and the emerging markets. While tightening of monetary policy in China was initially met with a knee-jerk reaction to the prospect of reduced global liquidity, it is now the implications that this has for the global inflation outlook that are being focused on. In addition, rising oil prices, on the back of MENA tensions, are further fuelling inflation worries.

The strong rally in prices has seen an increase in physical selling of gold. However, the drop-off in buying has been relatively sedate, indicating that physical demand remains in place.

Gold support is at $1,388 and $1,380. Resistance is at $1,399 and $1,401.


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


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

Back to TOP