Sejak 4 minggu yang lalu, harga emas telah jatuh pada paras terendah dalam masa 4 tahun pada pertengahan september 2014, tetapi emas berjaya kembali naik semula dan kekal tinggi dalam tempoh tersebut. Bagi mereka yang sentiasa follow dengan harga emas semasa, emas hanya jatuh beberapa hari sahaja pada penampang RM4800/tael atau USD1200/onz, sebelum naik kembali, hari ini indeks emas telah mencecah RM4910/tael dan mungkin akan naik lebih lagi menjelang perayaan diwali 22 Oktober nanti.
Singapore: Gold retained sharp gains on Tuesday to trade near its highest in four weeks, boosted by falling appetite for risk as equities and the dollar tumbled on global growth worries.
The sell-off in the stock markets saw the world’s top\gd-backed exchange-traded fund (ETF) attracting investors for the first time in a month after heavy outflows.
Spot gold was little changed at US$1,235.16 an ounce by 0025 GMT, after jumping 1.1% in the previous session when it also hit a four-week peak of US$1,237.30.
Other precious metals were well-supported due to the weaker dollar.
Stocks on Wall Street tumbled in late selling on Monday as the technical picture soured for the S&P 500, while the greenback posted its worst day in a year after comments from Federal Reserve officials hinted at delays in expected interest rate hikes.
Fed officials said over the weekend that a sharp slowdown in the global economy could delay an increase in US interest rates. Higher rates would have boosted the dollar, but dented the appeal of non-interest-bearing gold.
Those remarks followed soft industrial data out of Germany, the euro zone’s biggest economy, and lowered global growth forecasts by the International Monetary Fund.
Assets such as gold and the Japanese yen gained as investors sought safety from riskier assets such as equities.
Holdings in SPDR Gold Trust, the No 1 gold ETF and a good proxy for investor sentiment, rose 1.79 tonnes to 761.23 tonnes on Monday – the fund’s first inflow since Sept 10. – Reuters