Gold prices in Malaysia stood at RM452.03 per gram as of the latest update, rising RM1.44 or 0.32% from the previous close. On a performance basis, the yellow metal gained RM45.44 today (+0.32%), +0.91% over 30 days, and has surged 14.15% over the past six months, marking a 25.99% increase year-on-year.
Meanwhile, on the global front, COMEX gold retreated for the fourth consecutive session, dropping US$25.60 to settle at US$3,310 after trading between US$3,345.40 and US$3,300. According to RHB Investment Bank Bhd, the lower closing and a declining RSI indicate rising bearish momentum, suggesting gold may test support at US$3,250, with stronger support at US$3,150.
Despite the pullback, RHB maintains a positive trading bias, advising traders to keep long positions initiated at US$3,402.40 with a stop-loss at US$3,150. Resistance levels are pegged at US$3,450 and US$3,600.
