Ringgit value is high, buy into gold will be a profitable long team investment.

There was very little gold selling in the physical market yesterday afternoon, which has assisted in gold breaking above $1,130. However, buying conviction remains lacking above $1,130.
Although buying conviction remains scant above $1,130, physical buying in recent days has been very strong whenever gold drops below $1,120, especially by India. Gold price low season is about to end, enter into 2Q2010 the gold price may likely to move up due to physical demand from most of Asia country.

Malaysia gold physical demand also getting stronger because the ringgit value is strong. Now retail price for 916 gold is RM 133 per gram and 999 gold at RM 141 per gram offer a good price for consumers to buy gold. Due to the strong value of Ringgit so now is the best time to buy into gold, anything happen in yuan revalue will also effect ringgit value and recovery of US will also effect ringgit value to drop so since now the ringgit value is high, buy into gold will be a profitable long team investment.


I think ringgit value go strong will only short team. Malaysia review the OPR up 0.25% give investor an option to invest in this regional to put their money in Malaysia so if another country in Asia start review up OPR will resulting money flow back out from Malaysia, This sure will devalue ringgit but good for gold investment.

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