Malaysia Gold Hits Record High Above RM 118 Per Gram

Gold swept to a record high above US$1,080 an ounce on Tuesday, Nov 3 defying dollar strength as the International Monetary Fund's 200 tonne sale of gold to India's central bank boosted sentiment toward the metal. The IMF sale, part of an agreement to sell about an eighth of the Fund's stock, fueled speculation that other governments -- including Beijing -- may be ready to diversify their reserves even at near record prices.

In this month India and China become net buyer of Gold even the price have go up high. Base on chart analysis, since gold price rally RSI did not drop below 50 where it is oversold zone. This mean investor keep buying gold even the price is high and for gold price to drop below USD 1,000 will be unlikely in 4 months time.

Base on gold price history, the price always up and if you take beginning of the year and end of the year, gold price return always more that 4%. Only in this few year since 2007, gold price profit is average 6% so it this investment is better that FD and EPF. I personally really did not know how come EPF pay dividend lower that gold.

Gold investment is a vary stable profitable tool and long you keep your gold better price it will be in future. 1st time I buy gold is RM98.38/g now already RM117.28 19.21% profit in 2 years.

Public Bank Gold Investment Account as at 04/11/09 11:20 AM

	Selling Price	Buying Price
1 gram	RM 122.0400	RM 117.2800