Target Gold Price Hits USD1,500 in Q3:11

COMEX gold has seen the net long non-commercial position decline to 27.96% of OI, down from 30.5% the previous week. Current levels are below the average level of 33% over the past 2 months. We believe that gold could touch $1,500. At this stage, we target $1,500 in Q3:11, as in the interim we foresee seasonal weakness in the physical gold market. The end of Q1
and Q2 typically see gold scrap volumes increase, which is likely to subdue the gold price.

The Gold support is at $1,406 and $1,393. Resistance is at $1,436 and $1,458.


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