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Malaysia Gold Price Holding At RM 107 per gram

Malaysia gold price hold above RM 107 per gram again.

Spot gold hit a high of US$941.20 an ounce and was bid at US$938.45 an ounce at 1505 GMT, against US$924.60 late in New York on Tuesday. Silver was at US$13.21 an ounce against US$12.88.

Gold prices bounced to their highest level since July 2 after monthly CPI data showed consumer prices rose a slightly faster-than-expected 0.7% in June.

Combined with an improvement in northeastern manufacturing activity, the CPI data boosted investor sentiment and sent the dollar into retreat against a basket of six major currencies, raising gold's appeal for holders of foreign currencies.

US gold futures for August delivery on the COMEX division of the New York Mercantile Exchange also rose US$15.90 to US$938.70 an ounce.

Gold hit a record high above US$1,030 an ounce in March 2008.


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