US thought they were smart when they freeze Russia's USD reserves worldwide. More than a year later, the war has not ended, but now everyone wants to get rid of USD.

Can I know where do you guys buy gold bars like PAMP 10, 20 or 50gm bars around Klang Valley?
Any recommended gold dealers whom I can reliably buy from?
Thanks a lot

You can compare this place with others:
http://www.goldbullion.com.my/OurProduct.aspx

Gold steadies above $2,600 fueled by Fed rate cut odds

Gold hits a new record high, driven by expectations of a Fed rate cut in November and falling US Treasury yields.
Mixed US economic data reveals manufacturing weakness but services sector resilience, according to S&P Global Flash PMIs.
Fed officials express caution about aggressive rate cuts, maintaining flexibility in policy while noting growing labor market risks.
Rising tensions between Israel and Hezbollah heighten safe-haven appeal, potentially driving further demand for Gold.

Gold's price rose marginally on Monday, hitting an all-time high above $2,630, fueled by increasing bets that the US Federal Reserve (Fed) will lower interest rates in November. The XAU/USD trades at $2,627, registering more than 0.20% gains.

impressive run!

new record is $2664.

now $2659/oz, RM355/g (RM4.155/$).

all recent gains negated by rise in RM.

gold appears overbought now.

so, what comes next?

fall in $ gold price or fall in RM/$??

The next BNM rate decision is scheduled for November, giving us about a month until then.
Given the pace at which the Ringgit is appreciating, there's a possibility it could break through 4.00, or even further to 3.80.
In my view, BNM might consider reducing rates, especially to support exports. This could help prevent the Ringgit from appreciating too rapidly and uncontrollably.

Gold wise, my view is that, western player are kickin in now, i wont say it fall but consolidate yes.
giving the US election and geopolitical concern, all these are giving the support for gold.

https://mybulliontrade.com/product-category.../buy-gold-bars/

i also think there's a chance BNM will cut rate to protect exports.

not entirely sure, but i think the bursa counters for electronics n gloves are already falling as their exports in $ are now hurting.

plantations are unaffected as CPO is in RM.

Biggest impact will be Petronas. Petronas sells oil in USD and record its profit and pays dividends in MYR.

most likely no. fed rate up few times also we did not up. fed cut one round, already want to cut opr. hahhaa

what to do... big vs small...

indonesia, sweden, uk already cut.

china also eased...

https://theedgemalaysia.com/node/727958

BNM seems to be supportive on the current situation...

Basically... No Rates cuts as for now sadly 👌

new record is $2670.

now $2670/oz, RM355.33/g (RM4.140/$).

$6 gain completely neutralized by 0.015 rise in RM.

Gold 2.7k

Heng ah

Thanks to the conflicts going on...

But it's being "neutralized" by stronger MYR 💪🔥

nobody's buying gold anymore due to strong RM?

$2648/oz; RM354/g (RM4.168/$)



This post has been edited by AVFAN: Oct 1 2024, 05:54 PM

Is buying 1gram of gold bar with accredited from LBMA from a jewelry shop is an worth investment?

Is now not the right time to collect 1 gram gold bar?

This post has been edited by rocketm: Oct 1 2024, 11:40 PM

1g bar... I m of the view it is more of a long term collection.

Small coins, bars from jewelry shop are sold at a much higher gold price than spot rate. Now, it's about rm395 per g Vs 355 spot. Plus labor charge. When u sell back, they deduct 12-13% of their prevailing selling price.

Bigger ones like 20, 50g will be cheaper per g.

If possible I plan to buy from Habib online. They have LBMA accredited gold bar. 1g about RM435+ without include platform discounts.
20g will be RM2K+

In this case collecting 1gram of gold bar may not a good investment as there are cost of processing & reduction of value by the buyer.

20g RM2k+? You better fast fast sapu all.