KUALA LUMPUR, Oct 20 (Bernama) -- Bursa Malaysia’s benchmark index edged higher at the close as bargain hunting emerged following Monday’s sharp sell-off, although it narrowly failed to reclaim the 1,600 level, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.83 points, or 0.24 per cent, to 1,599.58 from Monday’s close of 1,595.75. The index opened 3.18 points lower at 1,592.57, marking its intraday low, and reached an intraday high of 1,602.83 in early trading. On the broader market, decliners outnumbered gainers 751 to 331, while 499 counters were unchanged, 1,259 untraded and 10 suspended. Turnover rose to 2.86 billion units worth RM2.42 billion against Monday’s 2.49 billion units worth RM2.38 billion.
Gold steadied near the $4,000 level after softer US inflation data reduced expectations of aggressive rate hikes. While the metal has pulled back from its recent highs, easing yields and a weaker dollar are helping to stabilise prices. Gold is no longer driven by fear alone, it is now highly sensitive to interest-rate expectations. What’s Happening Inflation came in softer than expected PCE rose 0.4% → below expectations Reduces urgency for rate hikes Rate-hike expectations easing Lower probability of near-term hikes Bond yields declined Dollar momentum slowing Recent rally paused Supports gold prices Gold stabilising near $4,000 After recent sharp pullback Still heading for a fourth weekly loss What Changed Gold’s recent weakness reflects a shift: Earlier rally driven by geopolitics + debt concerns Now pressured by “higher-for-longer” rate expectations The market is transitioning from: Fear-driven buying → Rate-driven pricing KeyTakeaway The key driver for gold is no longer...