The rise in the price of gold to new highs has induced similar movements in the share prices of a number of gold-related counters on Bursa Malaysia, although analysts believe a correction may be due.
KUALA LUMPUR: Poh Kong Holdings Bhd expects gold prices to climb higher to the US$2,005 - US$2,050 per troy ounce range in 2024 amidst expectations on the United States (US) Federal Reserve's interest rate cuts, ongoing geopolitical issues in the Middle East and the complex US-China relations.
KUALA LUMPUR: Poh Kong Holdings Bhd will continuously monitor the impact of the current uncertainties of its operations and evaluate its performance on a continuous basis.
Here is a brief recap of some corporate announcements that made the news on Tuesday (March 21) involving Star Media Group Bhd, Malakoff Corporation Bhd, Gas Malaysia Bhd, Lotte Chemical Titan Holding Bhd, GDB Holdings Bhd, Revenue Group Bhd, Classita Holdings Bhd, Poh Kong Holdings Bhd, Dayang Enterprise Holdings Bhd, and Scientex Bhd.
A renewed appetite for safe-haven commodities is fuelling a rally in jewellery counters on Bursa Malaysia, amid stronger trading prices of the precious yellow metal, following the global banking crisis that jolted equity investors.