What’s happening?
Gold prices in Malaysia saw a minor pullback on Friday, with the price per kilogram dropping by RM1,634 to RM564,162. On a per-gram basis, gold eased RM1.64 to RM564.16, and the price per ounce dipped by RM50.81 to RM17,547.40.
Despite this local easing, global gold markets remain robust, with the benchmark COMEX gold price rising and sustaining an overall bullish momentum. COMEX closed at US$4,313 per ounce after earlier trading around US$4,231, reflecting strong investor demand.
Why this matters
- Bullish global trend: Analysts note that gold has cleared its consolidation phase and maintains a constructive setup, with projected resistance levels significantly higher.
- Safe-haven demand: Gold continues to attract investors amid ongoing economic uncertainty, with strong gains seen across multiple currencies year to date.
- Local prices reflect global swings: While Malaysian prices dipped slightly, the broader international trend suggests continued strength in gold markets.
What analysts are saying
RHB Investment Bank’s research team highlights that gold’s technical structure still leans bullish, supported by solid long-term trends. Upside resistance for COMEX gold is seen around US$4,400 to US$4,500, while key support remains around US$4,000 to US$3,800.
Year-to-date performance also shows gold’s resilience:
- Up 63.1% in US dollars
- Up 51.3% in Australian dollars
- Up more than 50% in several other major currencies
- In Malaysia, gold prices have jumped nearly 49.3% over the past year.
What it means for you
- For investors: The global bullish momentum suggests gold could continue performing well, making it an asset to watch if you’re building a diversified portfolio.
- For consumers and savers: Understanding price trends can help in timing physical gold purchases or investments.
- For the economy: Gold’s strength often signals risk-off sentiment — meaning investors are seeking safer assets amid broader market uncertainties.
Final thoughts
Although Malaysian gold prices eased modestly this week, the overall trend — driven by global demand and bullish technical indicators — remains positive. Investors and market watchers alike will likely keep a close eye on how gold behaves in the coming months, especially as international markets test fresh highs.
