Furthermore, today (US time mean tomorrow) is COMEX option expiry. There are 2,300 contracts of open interest on USD950 calls. While 2,300 is not a large number, it could provide some incentive to market players to keep the gold price above USD950. I note growing resistance from the physical market, but we doubt it is strong enough just yet to push the gold price lower.
Back to Malaysia, gold price have close at RM110 per gram however public bank selling price is still keep at RM111.10 and buying price RM106.78. Base on the gold price Malaysia currency is above RM3.60 per USD but bank conversion still below this.
Gold Investment Account as at 27/07/09 3:51 PM
Selling Price | Buying Price | |
1 gram | RM 111.1000 | RM 106.7800 |
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