Gold Price Close Below USD913 Will See Accelerate Prices Drop To 882.00 -875.00 level.

Gold are drop sharply this morning, pressed by a stronger dollar, weaker than expected European data, lack of news from the G8 meeting and yesterday’s announcement that CFTC will be examining and determining maximum position limits for hedge funds and speculators this summer. Traders are worried that the CFTC decisions could have an impact on volume and liquidity in physical commodity markets.

A comment from a GFMS executive has hit the headlines for a second time in 3 weeks, which has front contract gold slipping into the 880 -870 level in the near term. ETF holdings are beginning to drop just a bit, more importantly ETF holdings are not expanding. The schedule of U.S. economic data is very light this week, so the focus is the G8 Meeting, which so far has not provided new insight into the role of dollar as a reserve currency.

Gold price close below USD913 so it will accelerate prices drop to 882.00 -875.00 level. Malaysia gold price drop to RM103.52 per gram so when gold price drop below USD 890 will be a good buy.

Malaysia Gold Investment Data

Public Bank Gold Investment Account as at 08/07/09 3:49 PM

Selling PriceBuying Price
1 gramRM 108.5400RM 104.3100

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