Gold Price Hits Low Close At USD926.90
















The GOLD PRICE took a hard lick yesterday, down 13.20 to close on Comex at USD926.90. Trading in the current market at 928. This is the support area that should have stopped it -- so far so good.

Rising dollar recently (for reasons mysterious) hurts stocks as much as metals. Normally during summer all metals include gold will go lower and base on 10 years data around 13 June every year gold price is in low, but the point is clear: we are near a bottom in time (seasonality).

The gold price might stop here around USD928-USD930, where we spent a week when we were rising, but might also stop at USD920, USD900, or USD890. Right now, USD900 is the lowest I see, but the market speaks every day and did not know what next.

Back to Malaysia, Public Bank Opening is as below:

Gold Investment Account as at 16/06/09 9:21 AM

Selling PriceBuying Price
1 gramRM 108.6200RM 104.3900

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