GOLD Futures 5/6/12
Let's have a look at this futures chart of gold. The price of gold didn't really fall, however it has resisted at the fibonacci level at 38.2%. The black line is the support level.
The price as of now, 1618 is still hovering around 50 days MA, supported @ 1615 level.
So far, it is still looking good.
Well, for this Live Gold Spot Price, the resistance levels are as below :
Pivot Resistance : 1623, 1628, 1634
Pivot Point : 1617
Pivot Support : 1600, 1606, 1611
Bollinger Band also shows an Upper Bollinger @ 1623.
1st June 2012 closed @ 1622. As we could see, there is somehow a resistance @ this level.
MYR Gold Price as of 5/6/12 7:47pm = RM 166.26 (+0.67)
For anyone who is interested in gold investment, you could do so with some of the local banks : Maybank / Public Bank with a brokerage of RM 7 / gram. So, be prepared to deduct RM 7 / g from your earnings.
Otherwise, can try out UOB bank which they are only charging a deduction of RM 2 / g. But transactions must be done at the counters, unlike Public where you could opt for online purchases and sales.
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