Gold Price Remain Under Pressure

The US 10-year government bond yield has declined from 3.50% on Monday last week to 3.26% yesterday. As a result, gold could remain under pressure. However, there is very good support from physical buying out of Asia since Friday — hence, I view that gold will remain range-bound.

Back home at Malaysia, Gold price is still holding up above RM104 per gram and I think in short term this level will not be broken. Below is the latest Malaysia gold price:-

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