Gold's Present Correction Will Likely End this Week

2009-03-04

Gold's Present Correction Will Likely End this Week

Gold's price present correction likely to end in this week. The price may drop into USD900 or USD890 per ounce before countinues go up to USD 1,000 per ounce. The entry point to invest in Gold is near and in this crisis Gold investment is better that share market.

In the same time, Ringgit Malaysia is devalued compare USD and if 1 USD equal to RM3.80 so the profit in Gold Investment will be bigger.

3 comments:

Elvis2020 March 4, 2009 at 9:02 AM: Durian, hope u dont mind my 2 cents worth opinin here. The price of gold contra to general opinions that it will go up in time of recessions. But time has change alot, due to presence of hedge funds. Theres trillions funds lock in gold by hedge funds. And they need to cover clients calls and losses in other investments.
East Point Trading March 4, 2009 at 11:34 AM: I'm vary happy to see your comment in my blog, ok

The main reason behind why Gold price will go up is due to now the credit crisis is value of the money did not mach with the Gold value.

Each money printed need to had Gold in bank and in this crisis the value of the money had bubble too mach compare the value with Gold, so the Gold value need to go up to match the money bubble value to stop this credit crisis.

Because of that the Gold value at the end sure will go up and now most of the big funds had jump in into Gold so soon or later Gold price will speculated. By that time the value of the Gold may speculated sky high like what happen in Oil ( The black Gold ).

I think now is the vary good time to buy in Gold before the speculation start and it is more save compere with share market now.
Elvis2020 March 5, 2009 at 3:37 AM: Actually what you say is correct but not entirely true in current financial environment. Anyway, price of oil shot up so maybe some movement to KNM. Maybe can make some quick profit there. I bought some at 37 cents and sell at 39 cents for quick profit.

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