KUALA LUMPUR: Gold price should extend its movement towards the US$2,050 per ounce level, after breaking past the psychological resistance of US$2,000. This would be followed by the US$2,100 mark in the near term, some analysts said. They said gold might close above US$2,000 for the third time on a daily basis this week as the strength in the yellow metal was backed by multiple factors. This included the overall weak US Dollar Index as well as turmoil in the banking sector and potential end of monetary policy tightening by the US Federal Reserve, the Bank of England and the Reserve Bank of Australia.

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