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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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Gold Set for Worst Week in Over Three Years Amid Fewer Fed Rate Cut Expectations

Key Takeaway: Gold prices have dropped more than 4% this week, impacted by a stronger US dollar and expectations of a slower pace of Fed rate cuts.

Gold prices traded flat on Friday, with spot gold at $2,569.69 per ounce after a five-day losing streak, marking its worst weekly performance in over three years. Gold has declined over $220 from its record peak last month, hit by rising US dollar strength following Donald Trump's election victory.

The outlook for gold remains cautious, with Fed Chair Jerome Powell's comments indicating a measured approach to rate cuts given stable economic growth and steady inflation. Markets now assign a 59% probability of a 25-basis-point rate cut in December, down from 83% earlier, reflecting reduced expectations for easing.

Analysts suggest that while higher interest rates raise the opportunity cost of holding gold, geopolitical uncertainty in Trump’s term could still drive demand for safe-haven assets. A potential rebound could see gold retest the $2,600 level in the near term.

Other precious metals also saw modest gains:

  • Silver: Up 0.2% at $30.52 per ounce.
  • Platinum: Up 0.1% at $940.68.
  • Palladium: Up 0.5% at $946.00.

All three metals are also heading for weekly declines.

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