Gold price climbed - weakness in the U.S. dollar

The gold price climbed on Friday amid widespread gains in commodities and weakness in the U.S. dollar.  The spot price of gold advanced by $17.48, or 1.0%, to $1,747.55 per ounce, its highest level since October 17th. The U.S. Dollar Index, a trade-weighted composite of the greenback against several of the world’s most-traded currencies – including the euro, yen, and pound – fell by 0.4% to 80.361.  The SPDR Gold Trust (GLD), the world’s largest gold ETF and a proxy for the gold price, jumped by $1.75, or 1.0%, to $169.31 per share.

Strategists at UBS discussed their outlook for the price of gold in a report to clients, published prior to today’s rally. The firm noted that “Gold is just a few dollars shy of its 50-day moving average sitting at $1,741, and more importantly, a key technical level lurking at $1,739.10…Our technical strategist notes that a break above this level, which is the month’s high, would be a crucial bullish development that would open up $1,748.95, the 62 percent retracement of the October/November sell-off ahead of $1,794.80, the October high.”


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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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