Gold would move higher in dollar terms

Gold is finding good support between $1,515 and $1,520 and strong resistance on approach of $1,530. We believe that gold will continue to push higher in 2011. We maintain our core
long view on gold.

While we believe gold would move higher in dollar terms, we expect gold denominated in euros to outperform. On the back of the debt crisis in Europe, our G10 FX analyst last week updated the outlook on the euro/dollar exchange rate. We now believe that we have probably seen the peak of the euro/dollar, and that any rebound from here won’t see euro/dollar above 1.50. As a result, rallies in euro/dollar should be sold, as we focus in on the longer-term target of 1.20 in the next 12 months.

Gold support is at $1,515 and $1,512. Resistance is at $1,528 and $1,538.


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