Stronger Dollar Saw Gold Fall From USD1,019 to USD992














A stronger dollar saw gold fall from USD1,019 to USD992 in NY trade yesterday, however, physical market buying interest in early Asian trade saw the metal climb back to USD998 heading into this morning, before coming off the boil again. As far as ETF holdings are concerned, the SDPR Gold Trust ETF, the largest gold-backed ETF, liquidated 7.63 metric tonnes from its gold investment holdings yesterday. Some of this activity was offset however by ETF Securities Ltd, which showed a 3,934oz increase yesterday to 8.4 million ounces. Support and resistance are at USD985 and USD1,014 respectively today.

Back to Malaysia, gold price likely to be supported by physical market buying interest at year end when usually for Malaysia is a wedding months. Today Malaysia gold open high at RM112.74 per gram and likely this week will support at RM110 and resistance at RM 113.

Public Bank Gold Investment Account as at 25/09/09 3:53 PM

Selling PriceBuying Price
1 gramRM 113.8500RM 109.3800

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