Gold support is at $1,392 and $1,379. Resistance is at $1,419 and $1,431

Fears of unrest spreading to other oil-rich nations and the associated inflationary consequences of higher oil prices are keeping investors interested in precious metals. After a brief sell-off overnight on speculation that the turmoil in Libya might be coming to an end, gold and silver rebounded, supported by a relatively weaker dollar. Some physical buying in the dips have
helped the metals recover, although in general physical market participants remain net sellers.
Rumours of further momentary tightening in China (in the form of currency appreciation) have caused a knee-jerk sell-off this morning.

According to our analysis, currency appreciation has the most damaging effect on commodities of the monetary tightening alternatives available to Chinese authorities. We still see only limited scope for China to appreciate its currency without risking a marked erosion of its industrial competitiveness. Therefore, we view credit rationing as the more serious threat to commodity prices. In addition, our analysis reveals that it is the base metals that will suffer the most from Chinese monetary conservatism. For now these rumours will add to the volatility induced by Middle East concerns.

Gold support is at $1,392 and $1,379. Resistance is at $1,419 and $1,431.


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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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