GOLD prices may be tapering off from last year’s peak, but Poh Kong Holdings Bhd remains optimistic of a better performance this year on the back of resilient demand for gold jewellery and investments.
The gold jeweller believes it is in a good position to register higher revenues this year based on activity in the commodity markets, and is poised to capitalise on demand when the Covid-19 pandemic is under control.
Poh Kong executive chairman and group managing director Datuk Choon Yee Seiong says he expects gold prices to continue to rise in tandem with demand from government vaults and central banks. Added to this is demand from exchange traded funds.
KUALA LUMPUR (Jan 21): Palm oil prices continued to edge lower yesterday, as concerns about lower demand for the edible oil following lower export data outweigh worries about weaker supply amid torrential rains that have triggered floods in key growth areas in Malaysia.
Crude Palm Oil (CPO) contract for April delivery on Bursa Malaysia Derivatives sank RM42 to RM3,225 yesterday. It is now down RM508 or 13.61% from its one year peak of RM3,733 a tonne on Jan 6. The contract has declined by 365 or 10.17% from the RM3,590 registered on Jan 4, the first trading day of 2021.
Earlier this month, CPO futures breached the RM4,000 mark for the first time since 2008. The previous all-time high for CPO futures was RM4,321 per tonne, recorded in March 2008, based on Bloomberg data.
KUALA LUMPUR (Jan 20): Crude palm oil (CPO) prices are trading below the sharply high levels seen earlier this month and late last year, due to concerns that demand will reduce as Malaysia’s exports of the edible oil dropped.
The CPO contract for April delivery on Bursa Malaysia Derivatives closed RM77 lower at RM3,272 per tonne today. This is RM460 or 12.32% below its one-year high of RM3,733 registered on Jan 6.
Additionally, the contract has declined by RM317 or 8.83% from the RM3,590 registered on Jan 4, the first day of trading in 2021.
Earlier this month, CPO futures breached the RM4,000 mark for the first time since 2008. Based on