Gold Prices broke today!

Gold Prices broke today, falling back from the top of their established trading channels USD928. Oddly, they only fell to the next support, the gold price closing at USD921.30 (down USD6.70). That makes this look like it will be a mild break. Too early to tell whether this will last only a couple of days, or go down further for longer. Upside gold needs to pierce USD930.

Gold remain above their 50 day moving averages, still a good sign.

Malaysia gold price is at RM105.15 per gram drop from RM108.24 yesterday. I had read a report from The Edge written that Ringgit Malaysia value will drop by end of this year to end up USD1 equal to RM3.90. If this happen, Malaysia gold price will fly sky high.

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