TRADEPLUS SHARIAH GOLD TRACKER

KLSE (MYR): GOLDETF (0828EA)

You're accessing 15 mins delay data. Turn on live stream now to enjoy real-time data!

Last Price

3.44

Today's Change

0.00 (0.00%)

Day's Change

0.00 - 0.00

Trading Volume

0


2 people like this.

413 comment(s). Last comment by ahbah 1 week ago

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

Looking ahead, sentiment remains bullish for gold as long as geopolitical tensions persist and escalate.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

"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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

Financial experts often suggest keeping between 5% and 25% of your investments in gold and other precious metals.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

Gold can protect you against inflation and be a safety net when the economy isn’t doing well.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

Gold ETFs offer the opportunity to invest in gold without the need to physically store the metal.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

"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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

Gold tends to maintain its value and even rise in price when inflation is problematic.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

Many people bought gold, as it is the best hedge against inflation.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

Gold is the only asset which every central bank owns.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

Since [the] 2000s, the average return [on] gold in any currency is somewhere between 8% and 10% a year.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

Heightened geopolitical risk has always been and continues to be supportive of gold.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

Gold historically does well during inflationary periods.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

Western investors are still on the sidelines. When these investors come back, that’s when the gold rally is going to accelerate.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

Investors should make gold a core component of their portfolio because gold has historically offered improved risk-adjusted returns.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

This is the most popular quarter for gold since Q4 2020.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 2 months ago | Report Abuse

The only suitable action is to protect our wealth in financial assets with a meaningful allocation to gold.

Musang King

1,027 posts

Posted by Musang King > 1 month ago | Report Abuse

True.

masterus

3,571 posts

Posted by masterus > 1 month ago | Report Abuse

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

masterus

3,571 posts

Posted by masterus > 1 month ago | Report Abuse

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.

masterus

3,571 posts

Posted by masterus > 1 month ago | Report Abuse

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

masterus

3,571 posts

Posted by masterus > 1 month ago | Report Abuse

China’s US Treasury Holdings Becoming ‘Hostages,’ Academic Warns

Musang King

1,027 posts

Posted by Musang King > 1 month ago | Report Abuse

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.

Musang King

1,027 posts

Posted by Musang King > 1 month ago | Report Abuse

GOLD is King then if WW3 started.

Musang King

1,027 posts

Posted by Musang King > 1 month ago | Report Abuse

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.

masterus

3,571 posts

Posted by masterus > 1 month ago | Report Abuse

African and Middle Eastern Nations Withdraw Gold Reserves Amid American Economic Concerns

ByJillian Bennett
APR 24, 2024

masterus

3,571 posts

Posted by masterus > 1 month ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 1 month ago | Report Abuse

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.

ahbah

6,094 posts

Posted by ahbah > 1 month ago | Report Abuse

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.

masterus

3,571 posts

Posted by masterus > 3 weeks ago | Report Abuse

ASEAN to Increase Local Currency Trade, Reducing Reliance on the US Dollar
May 12, 2023
Posted by ASEAN Briefing

masterus

3,571 posts

Posted by masterus > 3 weeks ago | Report Abuse

Almighty dollar nation is not happy with that. Will they sanction ASEAN?

ahbah

6,094 posts

Posted by ahbah > 1 week ago | Report Abuse

Ten years ago, the price of gold sat at $1,246 per ounce. Today, it’s worth $2,350.65 per ounce. That marks an 88.66% increase in value, or an average annual return of 8.86% (not calculated for compounding). 😁😁😁

ahbah

6,094 posts

Posted by ahbah > 1 week ago | Report Abuse

When Richard Nixon severed the dollar from gold backing in 1971, the price of gold suddenly started floating at market rates. It consequently skyrocketed over the rest of the 1970s, delivering an average annual return of 40.2%.

ahbah

6,094 posts

Posted by ahbah > 1 week ago | Report Abuse

In 2020, for example, gold jumped 24.43%.

ahbah

6,094 posts

Posted by ahbah > 1 week ago | Report Abuse

Likewise, investors retreat to gold when fiat currencies lose value fast to inflation. Amidst all the inflation anxiety in 2023, gold rose 13.08%.

ahbah

6,094 posts

Posted by ahbah > 1 week ago | Report Abuse

Finally, gold offers a non-correlated hedge against stock market crashes. In other words, gold offers diversification — a collapse in financial markets doesn’t cause a collapse in gold prices. Quite the opposite: many investors believe gold will rise in price if a bear market hits.

ahbah

6,094 posts

Posted by ahbah > 1 week ago | Report Abuse

🤑🤑🤑

Post a Comment
Market Buzz