KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
Gold prices rose on Thursday after the U.S. Federal Reserve delivered a 25bps rate cut, even as policymakers remained sharply divided on the path of future easing. Silver extended its powerful rally, touching another record high.
Gold Edges Higher After Fed Cut
As of 0040 GMT:
Spot gold rose 0.3% to US$4,242.39/oz
US gold futures (Feb) gained 1.1% to US$4,271.30/oz
Gold benefited from the lower-rate environment, as non-yielding assets typically perform better when borrowing costs decline.
Fed Divided on Future Easing
The Fed cut rates by 25bps but signaled a higher bar for further reductions, citing:
Inflation that “remains somewhat elevated”
Need for clearer evidence of a softening job market
In a rare split, six Fed officials indicated they did not support even this cut — highlighting unprecedented division within the central bank.
Fed Chair Jerome Powell gave no clear guidance on future cuts, saying policy is positioned to respond flexibly to upcoming data.
Key U.S. Data Ahead
Markets are watching:
November jobs & inflation data next week
Q3 economic growth report shortly after
ETF investors were cautious, with SPDR Gold Trust holdings dipping 0.11% to 1,046.82 tonnes.
Silver Surges to Another All-Time High
Silver continued its explosive rally:
Spot silver rose 0.9% to US$62.31/oz
After hitting a record US$62.67 earlier
Year-to-date, silver is up 113%, supported by:
Rising industrial demand
Falling global inventories
Its addition to the U.S. critical minerals list
Other Precious Metals
Platinum: +0.2% to US$1,658.85
Palladium: –0.3% to US$1,471.75
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