Gold Price Probably Seen The Bottom.


















As long as the GOLD PRICE didn't close beneath USD918, we had probably seen the bottom. Yesterday half the world bought gold. Gold rose USD16.60 to close at USD939.10 on Comex.

The gold price now needs to close above USD940.10, then jump over USD954. Otherwise, gold has simply teased us with yet another rise within a trading range. However, this move feels very strong. Silver confirmed today's gold rise with a respectable 34.8 cent rise, but still needs to confirm a gold breakout by closing over USD13.80.

Greatest likelihood here is that silver and gold prices continue to rally. However, gold needs to climb above that USD940.10 point to confirm. Gold may be slapped back tomorrow, but should hold above USD928, then attack USD940.10 again. But whether gold continues to rally, or zigs and zags first, we've probably seen the bottom. In no way should you be short gold here, and if you have been planning to buy, better get about it.

Public Bank Gold Investment Account as at 16/07/09 3:55 PM

Selling PriceBuying Price
1 gramRM 110.0700RM 105.7900

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