Malaysia Gold Investment

The price of gold turned slightly lower on Tuesday amid strength in the U.S. dollar after policymakers in Europe came to their latest agreement on debt reduction deal for Greece.  After consolidating yesterday near the $1,750 level, the spot gold price fell by $4.26, or 0.2%, to $1,744.85 per ounce this morning. Gold prices showed a muted response to the latest development in the seemingly never-ending sovereign debt saga in Europe.  Earlier today, euro zone finance ministers and the International Monetary Fund (IMF) announced a series of measures that will reduce Greece’s debt load by €40 billion, with a target of reducing the debt to 124% of GDP by 2020.  Furthermore, policymakers agreed to lower the interest rate on official loans, extend the loan maturities by between 15 and 30 years, and include a 10-year interest payment deferral. While officials tried to spin the news as positively as possible, financial markets did not responds enthusiastically....

The gold price climbed on Friday amid widespread gains in commodities and weakness in the U.S. dollar.  The spot price of gold advanced by $17.48, or 1.0%, to $1,747.55 per ounce, its highest level since October 17th. The U.S. Dollar Index, a trade-weighted composite of the greenback against several of the world’s most-traded currencies – including the euro, yen, and pound – fell by 0.4% to 80.361.  The SPDR Gold Trust (GLD), the world’s largest gold ETF and a proxy for the gold price, jumped by $1.75, or 1.0%, to $169.31 per share. Strategists at UBS discussed their outlook for the price of gold in a report to clients, published prior to today’s rally. The firm noted that “Gold is just a few dollars shy of its 50-day moving average sitting at $1,741, and more importantly, a key technical level lurking at $1,739.10…Our technical strategist notes that a break above this level, which is the month’s high, would be a crucial bullish development that would ope...