Gold Price Did Not Break Through USD940 On The First Try

The gold price did not break through $940 on the first try so it will try a few time again but now it will test the downside of the range.

Public Bank Gold Investment Account as at 18/06/09 3:52 PM

Selling PriceBuying Price
1 gramRM 109.2800RM 105.0300

Comments

Post a Comment

Popular posts from this blog

Gold edges up on weaker dollar, dovish U.S. Fed policy bets

Image
 Gold edged higher on Monday, helped by a weaker dollar and expectations that the U.S. Federal Reserve will reiterate its dovish monetary policy stance this week. Spot gold was up by 0.1% at $1,943.58 per ounce. U.S. gold futures rose 0.1% to $1,950.10 per ounce. “Gold is firm on the basis that the Fed could adopt a further dovish message with respect to average inflation targeting,” said Michael Hewson, chief market analyst at CMC Markets UK. “If you want to have a policy of average inflation targeting, you’re going to have to go into detail as to how you are going to arrive at that particular outcome.” The dollar retreated on Mond ay, bolstering gold’s appeal for investors holding other currencies, ahead of the Fed’s policy decision due on Wednesday. “If inflation forecasts remain at 2% or below, this could offer gold a tailwind as the zero-yielding metal thrives in a low-interest rate environment,” said FXTM analyst Lukman Otunuga. Market participants are also wai...
Read more

Greece has secured a €130 billion rescue package - Gold prices rose

Image
The gold price spiked Tuesday morning, rising $11.50 to $1,746 per ounce.  News late yesterday that Greece has secured a €130 billion rescue package failed to quell speculation that Greece would eventually be forced out or leave the euro. Gold prices rose on the news. Last week, a plethora of U.S. economic data combined with ongoing uncertainty over the Greek bailout to send the gold price oscillating between gains and losses.  Looking ahead to the coming week, a similar slate of items likely to impact the price of gold await.  Euro zone officials will hold additional meetings to discuss the specifics of Greece’s aid package.  Also, the U.S. economic calendar contains several noteworthy reports. Mark Luschini, chief investment strategist at Janney Montgomery Scott, wrote in a recent note to clients that “Everyone is playing this gigantic game of brinksmanship but I suspect they [Greece and the euro zone] are working toward avoiding default and t...
Read more

Gold will remain a risk-on asset for the foreseeable future

Image
The gold price turned modestly lower on Monday amid strength in the U.S. dollar, as the yellow metal gave back a portion of last Friday’s $42 advance.  The price of gold held in a tight range between $1,590 and $1,600 per ounce in overnight trading, and was down by $6.84, or 0.4%, at $1,592.25 this morning Nikos Kavalis, an analyst at Royal Bank of Scotland, wrote in a recent note to clients that “We are staunch believers that gold will remain a risk-on asset for the foreseeable future.  So if we continue to see a more definitive policy response by authorities, gold will continue to benefit.” “Having said that … the investment bid will be essential for the price to move up,” Kavalis added. “That will be without a doubt linked to continued news flow. This morning we have had a setback across the sector, and gold has not been left out.”
Read more