KLSE (MYR): GOLDETF (0828EA)
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Last Price
3.48
Today's Change
+0.01 (0.29%)
Day's Change
3.47 - 3.48
Trading Volume
38,700
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"We project $3,000/oz gold over the next 6-18m," said Citi's analysts led by Aakash Doshi, Citi's North America head of commodities research.
1 month ago
On Friday, Goldman Sachs referred to the gold market as an "unshakeable bull market" and revised upward its price target for the yellow metal from $2,300 per ounce to $2,700 by the end of the year.
1 month ago
China raised its gold holdings for the 17th consecutive month at record prices, while India also added to its gold holdings
1 month ago
China Asset Management Co. said that the secondary market price of the “Shanghai-Shenzhen-Hong Kong Gold Industry Stock Exchange-traded Open-ended Index Securities Investment Fund ETF” traded significantly higher than NAVs with a premium as high as 30% before trading was halted.
1 month ago
The global price of gold could potentially reach $3,000 per ounce as additional funds pour into exchange-traded funds backed by the precious metal, according to analysts at Citi, as quoted by CNBCTV18.
1 month ago
Citigroup anticipates that the mean gold price will hover around $2,350 per ounce in 2024, followed by a significant 40% surge to $2,875 in 2025.
1 month ago
Looking ahead, sentiment remains bullish for gold as long as geopolitical tensions persist and escalate.
1 month ago
Gold rate has risen by about 15% so far this year, with gains partially driven by safe-haven demand amid escalating geopolitical tensions in the Middle East and Ukraine.
1 month ago
Gold has been supported by strong central bank purchases and safe-haven demand amid escalating Middle East tensions after Israel said it would retaliate to Iran's drone attack.
1 month ago
"Therefore, the government needs to formulate a comprehensive strategy so that gold stock reserves abroad and within the country can be increased by ensuring that the country's purchasing power is in a stable and strong state, especially the value of the Malaysian ringgit," he said.
1 month ago
Financial experts often suggest keeping between 5% and 25% of your investments in gold and other precious metals.
1 month ago
Gold can protect you against inflation and be a safety net when the economy isn’t doing well.
1 month ago
Gold ETFs offer the opportunity to invest in gold without the need to physically store the metal.
1 month ago
Gold poised to hit $3,000 per ounce as upcoming Fed rate cuts occur, top economist David Rosenberg says.
That implies a potential 30% upside from current levels.
He says the current rally is impressive because it defies typical macroeconomic challenges like a strong dollar and falling inflation expectations.
1 month ago
"The read-through for investors is straightforward: make sure you have gold in your portfolio, and overweight it. The downside risks are well contained (though a very near-term correction is not impossible and should be looked through), but the upside is tantalizing," Rosenberg concluded.
1 month ago
Gold tends to maintain its value and even rise in price when inflation is problematic.
1 month ago
Since [the] 2000s, the average return [on] gold in any currency is somewhere between 8% and 10% a year.
1 month ago
The price of gold is up 15% this year to a recent $2,409, and has gained 22% since the Federal Reserve began raising interest rates in March 2022.
1 month ago
Heightened geopolitical risk has always been and continues to be supportive of gold.
1 month ago
Western investors are still on the sidelines. When these investors come back, that’s when the gold rally is going to accelerate.
1 month ago
Investors should make gold a core component of their portfolio because gold has historically offered improved risk-adjusted returns.
1 month ago
The surge in price hasn’t deterred the demand in Vietnam, driving local premium over the international rate to as much as 15 million dong ($590) per tael earlier this year.
1 month ago
The premium paid by Chinese importers jumped to US$89 an ounce at the start of April, compared with US$35 over the past year and the historical average of US$7.
1 month ago
China’s gold jewellery demand rose 10 per cent while India’s fell 6 per cent. Chinese bar and coin investments, meanwhile, surged 28 per cent.
1 month ago
The People’s Bank of China has been on a buying spree for 17 straight months, its longest-ever run of purchases, as it looks to diversify its reserves away from the dollar and hedge against currency depreciation.
1 month ago
If Google searches are to be believed, we’re in a new gold rush – and it’s a global one. According to investment platform Hargreaves Lansdown, There were 271,500 Google searches for ‘gold’ in the first three months of the year.
1 month ago
Many gold investors are expecting exponential increases in value in the medium to long-term as individuals, institutions and countries look for assets that give them security in an insecure world.
1 month ago
As various Western economies – including the USA, UK, Eurozone and Japan – have been printing more money to cope with one financial crisis after another, there has been a growing concern among investors that fiat currencies are literally not worth the paper they're printed on. This has pushed more and more individuals and institutions towards gold, silver and other money metals.
1 month ago
We have a global financial system that is pretty much broken beyond repair. It's staggering along right now but it's only a matter of time before something crashes, somewhere.
1 month ago
The only suitable action is to protect our wealth in financial assets with a meaningful allocation to gold.
1 month ago
Reports suggest US has ‘preliminarily discussed sanctions on some Chinese banks’ over their trade with Russia
Analysts say moves to remove China from the Swift interbank financial system could create a ‘huge problem’ for global trade
1 month ago
In the future, will the US seize the whole China foreign exchange reserves like what did to Russia? Borrow money and do not need to pay back the money with interest rate.
1 month ago
No imminent US sanctions on Chinese banks for their trade with Russia: Janet Yellen
But American treasury secretary says the policy option is something Washington ‘would be prepared to use if necessary’
Yellen’s remarks come as top US diplomat visits China and both sides scale up official contacts to keep relations from fraying
4 weeks ago
Possible, masterus. US may stop paying China for the balance of their Treasury Bonds held in the US but it will trigger a WW3 either started by US first or other of US Allies. Look at how US using Taiwan, Ukraine, Israel, Philippines, India, and many others to fight a war. US currency keeps going up while everybody's currencies keep falling at US's expense. It is possible that US takes this opportunity to sieze and stop the Chinese from withdrawing more of its Treasury Bonds. Afterall USA has no more money themselves than to print more money through QE.
4 weeks ago
Remember, China did failed to pay Trillions of GOLD LOAN BONDS during the WW1 when China was so poor then. Until now, those Chinese Treasury Bonds are still unpaid and un-redeemed even that China is so Rich now. Maybe , USA is using this as one of the reasons to pressure China to pay up those DEFAULTED TREASURY BONDS and OFFSET them against the US Current Treasury Bonds due and payable. Everything is possible.
4 weeks ago
African and Middle Eastern Nations Withdraw Gold Reserves Amid American Economic Concerns
ByJillian Bennett
APR 24, 2024
3 weeks ago
In a move reflecting growing concerns over the stability of the American economy, several African and Middle Eastern nations have begun withdrawing their gold reserves from the United States in recent months. This trend marks a significant shift in global economic dynamics and underscores the increasing skepticism among nations regarding the traditional safe haven status of the US dollar and American financial institutions.
The decision to repatriate gold reserves is not merely symbolic; it reflects a deeper unease among these nations about the trajectory of the American economy. Among the countries taking such actions are Nigeria, South Africa, Ghana, Senegal, Cameroon, Algeria, Egypt, and Saudi Arabia, each representing crucial regions in Africa and the Middle East. Their actions are prompting questions about the future of the US dollar as the world’s primary reserve currency.
3 weeks ago
As of March 2024, China’s gold reserves stand at approximately 2,257 metric tons1. While this makes China one of the largest holders of gold among central banks, its 4% allocation of gold relative to its total reserves is still below the threshold maintained by central banks in developed countries2.
For context, let’s explore the gold reserves of a few other nations:
United States: The U.S. holds the largest gold reserves globally, with 8,133 metric tons. This constitutes approximately 76% of its foreign reserves3.
Germany: Germany has the second-largest gold reserves, totaling 3,362 metric tons. Gold accounts for about 73% of its foreign reserves.
Italy: Italy holds 2,451 metric tons of gold, representing around 71% of its foreign reserves.
India: India’s gold reserves amount to 846 metric tons, making up approximately 7% of its foreign reserves.
Netherlands: The Netherlands holds 801 metric tons of gold, constituting about 62% of its foreign reserves.
In summary, while China’s gold reserves are substantial, it remains prudent to consider the allocation strategies of other nations when assessing its position in the global gold market.
2 weeks ago
According to the World Gold Council’s 2023 survey, 24% of central banks intend to increase their gold reserves in the next 12 months. This reflects a favorable view of gold as an important component of central bank reserves due to its safety, liquidity, and return characteristics1. Additionally, central banks globally have been accumulating gold reserves at a pace not seen since 1967, indicating a renewed interest in this precious metal.
2 weeks ago
ASEAN to Increase Local Currency Trade, Reducing Reliance on the US Dollar
May 12, 2023
Posted by ASEAN Briefing
1 day ago
ahbah
😴
1 month ago