Gold Price Is At Below 100 Day MA

2009-04-22

Gold Price Is At Below 100 Day MA

Gold price had drop since early of the year 2009. Highest price the Gold price hits USD 1,000 per ounce and now drop to USD 883.35 due to over sold by big bank around the world to help to save the crisis.

However, the Gold price in Malaysia Ringgit had never same again like during USD 880 per ounce few months ago. Now at Public Bank as at yesterday closing :-

Gold Investment Account as at 21/04/09 3:50 PM

	Selling Price	Buying Price
1 gram	RM 106.9100	RM 102.6600

compare to last time with same USD Gold price, we can buy 1g of gold only around RM 98.766.
Malaysia ringgit value had drop and I think it will drop more.

Gold price chart movement is 1 step slower to share market, since now the share market had bound up a bit so same think will happen in Gold price chart in 2 to 3 months.

1 comments:

Elvis2020 April 23, 2009 at 3:08 PM: I am not very good at gold investment. So i think you are better at it. But what i can say or my 2 cent opinion is that in the long run gold is still the best hedge against inflation and value retain. Basically what i mean is to buy gold as jewelry like most lower middle class and sell them when you really need money. Much better than stock i believe. What do you thin durian?

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