ahbah

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.

2 months ago

ahbah

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.

2 months ago

ahbah

"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.

2 months ago

ahbah

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

2 months ago

ahbah

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

2 months ago

ahbah

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

2 months ago

ahbah

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.

2 months ago

ahbah

"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.

2 months ago

ahbah

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

2 months ago

ahbah

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

2 months ago

ahbah

Gold is the only asset which every central bank owns.

2 months ago

ahbah

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

2 months ago

ahbah

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.

2 months ago

ahbah

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

2 months ago

ahbah

Gold historically does well during inflationary periods.

2 months ago

ahbah

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

2 months ago

ahbah

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

2 months ago

ahbah

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.

2 months ago

ahbah

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.

2 months ago

ahbah

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.

2 months ago

ahbah

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.

2 months ago

ahbah

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.

2 months ago

ahbah

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

2 months ago

ahbah

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.

2 months ago

ahbah

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.

2 months ago

ahbah

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.

2 months ago

ahbah

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

2 months ago

Musang King

True.

2 months ago

masterus

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

2 months ago

masterus

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.

2 months ago

masterus

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

2 months ago

masterus

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

2 months ago

Musang King

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.

2 months ago

Musang King

GOLD is King then if WW3 started.

2 months ago

Musang King

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.

2 months ago

masterus

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

ByJillian Bennett
APR 24, 2024

1 month ago

masterus

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.

1 month ago

ahbah

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.

1 month ago

ahbah

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.

1 month ago

masterus

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

1 month ago

masterus

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

1 month ago

ahbah

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). 😁😁😁

3 weeks ago

ahbah

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%.

3 weeks ago

ahbah

In 2020, for example, gold jumped 24.43%.

3 weeks ago

ahbah

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

3 weeks ago

ahbah

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.

3 weeks ago

ahbah

🤑🤑🤑

3 weeks ago

ahbah

😴😴😴

1 week ago

ahbah

Fed rate cuts and friction in the bond market could drive gold prices to $3,000 in the next 12 to 18 months - Bank of America

1 week ago

ahbah

😴😴😴

1 day ago