Gold look weak after they failed to retain their intra-day highs yesterday. Gold scrap is still entering the market, and gold is meeting strong resistance on approach of USD1,070. Should the dollar show a bit more strength, there could be a downward correction towards USD1,040 in the gold price. I do not advise adding new longs at the current gold price. However, buying price dips remains my strategy. Gold support is at USD1,050 and USD1,040, and resistance at USD1,064 and USD1,075.
Gold Investment Account as at 21/10/09 3:51 PM
| | Selling Price | Buying Price |
| 1 gram | RM 117.8200 | RM 113.2500 |
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