Mr Money TV wrote a post · Mar 25, 2024 09:07

Investing on Gold-related stocks?

If you've been keeping an eye on the market, you might have noticed a buzz in the gold-related counters lately. Shares of companies like $POHKONG (5080.MY)$ , $TOMEI (7230.MY)$, and $AUMAS (0098.MY)$ soared as gold prices hit a record high. Poh Kong reached 90 sen, Tomei touched RM1.42, and Bahvest saw a slight increase to 47 sen.

The surge in these stocks is linked to the US Federal Reserve's decision to keep interest rates unchanged, which tends to boost gold prices. Lower interest rates make gold more attractive to investors compared to other assets. Gold hit an all-time high of US$2,220.89 per ounce, driving up investor interest in gold-related stocks.

Interestingly, other players in the gold market like Zhulian Corp and Niche Capital Emas Holdings also saw positive movement in their share prices. Now, this news might make you wonder about investment opportunities.

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