Remember the LORD for it is he who gives you the ability to produce wealth and so confirms his covenant... Deut. 8:18

Wednesday, May 16, 2012

Commodities continue to drift lower ...

Gold seen drifting to 6, 9, 12 months low at 1535 USD. It has broken the long term rising support trendline at 1600 and is seen for the 3rd time attempting to break below the 1510 level .. Gold has since lost 8 percent since the beginning of May from 1660 level ..  

Aussie dollar exhibits similar pattern as it slides below parity, buying just 99 US cents .. Aussie has since fallen 8 percent from recent high ...  Both the Aussie and Gold are oversold ...
CRB index falling below October and December 2011 low of 294 ..
When you look at all these, it sure makes you wonder how come the Malaysian commodities prices, currencies and stocks have not corrected accordingly ..?

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