2013-05-08

Physical Demand Highest In March, Expected to be Higher in Apr

The price of gold couldn’t repeatedly increase forever which is why this morning it stopped. Prices of gold declined to $1,461.70 an ounce. The American dollar as well as the Australian dollar were weaker this morning, helping to keep the price of gold stable.

Physical gold still remains in good shape especially in Asia. In fact, the purchase of physical gold from China doubled reaching an all-time high in March. In total investors bought 223,519 kilograms of gold compared to just 97,106 kilograms in February. As for April, trader Qu Mingyu of Bank of China stated, “Judging from the explosive growth of trading volume on the Shanghai Gold Exchange in the second half of April, and anecdotes that many jewelry shops are sold out throughout the country, imports might be even more substantial in April.”

When it comes to gold stocks, Harmony Gold Mining Co. Ltd is up nearly 9.5% to $4.73 while Allied Nevada Gold Corp. is down 2.1%. In ETFs, many stocks had a modest gain this quarter with only CMCI Gold TE ETN USB E-Tracs being the only ETFS to falter and that was only by 0.1%.
Physical gold has been stabilizing the gold market, but if demand for physical gold was to decrease, so would the price of gold.

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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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