2012-10-17

Gold Price Firm, Buy are Still There

The gold price rebounded on Tuesday following declines in six of the past seven trading sessions as the U.S. dollar turned lower in this morning.

Gold prices showed a modestly favorable response to the latest reading on U.S. inflation, as the Consumer Price Index (CPI) for September increased 2.0%.  The report was slightly above the 1.9% consensus estimate among economists.  However, excluding food and energy prices, to which the Federal Reserve gives more credence, the CPI met economists’ expectations of 2.0% growth.
Although the gold price has retreated in recent weeks, it has advanced for four consecutive months and remains higher by 11.8% on a year-to-date basis.  Credit Suisse analyst Tobias Merath wrote in a recent note to clients that “Particularly for investors and central banks, the incentives to buy gold are still there.  Quantitative easing, low interest rates, counterparty risk concerns, all these factors are in place, and investment interest is definitely there.”

However, Merath added that “The way we interpret the current episode is that we saw a meaningful test of $1,800, we didn’t manage to break that and now we have retreated a little bit.  People have taken a bit of profit, but we think this is a temporary story.”

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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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