which etf in klse recommended ya? sorry for asking such noob question

I used moomoo etf rather than Malaysia etf

There is no moomoo etf.

Moomoo is just a broker to trade in stock exchanges. Like rakuten, cgs, M Securities, fsm etc.

For Moomoo Malaysia, atm they only open for Malaysia and US market.

anyone here buy SGOL etf on IBKR? I bought some previously, total profit 27% already. Regret didn't buy more haha.

sorry...too fast typing. i used moomoo to buy etf. Most of time, get US ETF

There is only one Gold ETF on klse : The Shariah Gold Tracker (0828EA).

Gold steadies as brisk US inflation dampens rate-cut bets
https://www.freemalaysiatoday.com/category/...-rate-cut-bets/

https://www.thestar.com.my/business/busines...for-fed-verdict

yesterday cud hv been a buying opportunity for some as it hit $2284/RM350 spot.

but it was a holiday. now, back to $2325/RM360.


from powell's comments last night, the key takeaway was he ruled out further rate hikes but rate cuts will be delayed for sure.

for now, with no significant geopolitical dev lately, price not dependent on rate cut but will get a big boost when it happens.

meanwhile, central banks were still accumulating in march, april data not available yet.

SG added 4 tonnes in march, i read. Malaysia... not in the action, RM not going anywhere, i wud think.

https://www.fxstreet.com/news/gold-price-ri...on-202405011741

This post has been edited by AVFAN: May 2 2024, 09:03 AM

Beggars cannot think of gold. Only the next feed for the next day.

Powel did sat they are going to go slow on their QT program from June. I think that supported Gold.

yep, that too. ie... fiat money stays on longer!

Due to their deficit spending & inflation creeping up again so he stated that he would maintain rates for longer but the market expects a rate cut plus election is round the corner. In theory if they keep going down this deficit spending path, rates would have to climb higher as who wants to keep buying their debt when it is unsustainable.

Gold prices stabilized around $2,300 per ounce on Friday after falling to almost a 1-month low of $2,282 earlier in the session as investors took advantage of higher valuations and booked profits despite weaker-than-expected labour data in the US.

$2301/RM351.

think it's going sideways for a while. get out now if u duwan to hold mid/long term!


meanwhile, this may hv a serious impact on the RM:
https://www.thevibes.com/articles/news/1018...es-on-sanctions

O my........

after going sideways for a week, the glitter is back!

us unemployment data raised hopes on rate cuts.

$2369/RM361.

it is now 2.7% away from record high of $2431.


many things are at all time high now... us stocks, eu stocks, hong kong stocks... even bursa!

cocoa, coffee, orange juice rice also at or near all time highs.

charkoayteow, wantan mee, chicken rice prices also high... our RM isn't very worth much these days.

hv a nice weekend.

This post has been edited by AVFAN: May 10 2024, 03:04 PM

Gold eyes $3,000 as global uncertainty continues
https://www.fxstreet.com/analysis/gold-eyes...es-202405101231

$2396/RM360.

$2414/363.8

Therefore, the most likely scenario is that XAU/USD might test the all-time high of $2,431. Once cleared, the next stop would be the $2,450 mark, followed by the psychological $2,500 figure.

That was a very nice correction! Let's see what it does now.