Tomorrow us federal reserve will do his speech. Hopefully have good news for gold
Powell’s speech on Thursday will likely be the next major dollar driver, with investors watching to see if he signals that the U.S. central bank will shift its inflation target to an average. This would allow inflation to rise higher than previously before the Fed raises rates, making up for decades of benign price increases.
“I think we could get some pullback in foreign currencies and dollar strength if Powell doesn’t really, really strongly come out and say we’re doing inflation average targeting,” Nelson said.
6 times increase in profits means Malaysian are used to buy gold for USD1900 per ounce and the reality is Malaysians even buy more from Tomei. Revenue up more than 100%++. profit up 619%. Tomei share is only 84.5cent, Net Asset per share is RM1.69. Earn per share in this latest quarter is 9.82cent due to higher profit margin and revenue. More printing money once US election result is clear to lift US economy. Gold price will increase further.
OTHERS NICHE CAPITAL EMAS HOLDINGS BERHAD HEADS OF AGREEMENT ENTERED INTO BETWEEN NICE AND SPATE PRECIOUS METALS SDN. BHD. FOR THE TURNKEY CONSTRUCTION WORKS AND PURCHASE OF REFINED GOLD
If you always survey at Tomei business counters, you can notice more customers walk in to Tomei counters to buy gold. Malaysians no matter what races are still prefer gold most.
Share price of Tomei is likely to test RM1.20 as gold price hit and stay at about USD2,000 - 2,100 in two months time from now following other metal prices hit new high and Bitcoin have hit new record of above USD20,000 and weakening USD.
Gold buoyed by Fed
Gold prices were surprisingly buoyed by the Fed announcement, despite the lack of new action. The commitment to a longer period of purchases appears to have done the trick, with the yellow metal back around last week’s highs and looking far more promising once again. The dollar index breaking below 90 and languishing at two and a half year lows isn’t doing gold any harm either. We may not scale the heights it hit earlier this summer but gold may have its sights set on USD2,000 once again.
Tomei will spike towards OTB Tp RM2.40 next month as following reasons:
1) Gold price now on USD1900 per ounce and will stand above USD2000 per ounce next month. 2) US government stimulations plan keep on printing money will cause super inflation in near term. Gold is the only commodity can preserve the inflation, 3) Tomei business based on last quarter the revenue have been increase more than 30 percent compare to last 8 quarters. If compare with POHKONG , POHKONG revenue last quarter still in the average of 8 quarters revenue. This prove that TOMEI business is expanding and POHKONG still stay in the ground. 4) Last November during CMCO lots of people are rushing to buy gold jewelry. I remember the news reported that too many Kelantan citizens are rushing to buy gold jewelry until police order to close all the jewelry shop on that day until they are follow the SOP. Just imagine , Kelantan state also crowded in buying gold jewelry , other states demand sure more than that. 5) Tomei PE ratio only 5.3 and EPS 16cents compare with Pohkong PE ratio 11 and EPS 7.5 cents only. Definitely Tomei is the super undervalue gems.
Based on the above facts , I am sure Ooi Teik Bee TP RM2.40 will reach easily in the near term.
Tomei posted extraordinary profit at last quarter , that was 13.5 million n extraordinary high revenue of 180 mil... better performance than Poh Kong latest quarter result; another plus point is Tomei holding of 350 mil of inventory n assume 88-89% is gold , that is 309 mil n gold price has gone up 30% from 2019 Dec, that mean holding about 400-405 mil of gold... Minus 150 mil debt ( after deduct 20 mil cash on hand), Tomei has 250-255 mil of gold versus outstanding shares of 138 mil ... Per share hold about RM1.84-1.86 of gold... amazing
Guys, the latest news announcement is not consider good news since nothing have to be confirm. Some more the market gold price is undergoing downtrend as US government's president is confirmed. USD dollar will start raising...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Not_logic
157 posts
Posted by Not_logic > 2020-08-23 16:12 | Report Abuse
Next QR | Est. Ann. Date: 30-Jun-2020 | 21-Aug-2020