KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Gold has been quietly reaching record prices this year, outperforming all major stock markets when measured in US dollar terms. Despite this strong performance, gold’s current bull run seems to stem from its fundamental properties as a reliable store of value, particularly in uncertain economic times. Key Insights: Gold as 'Fallback Money' : The latest surge in gold prices is being driven by its role as "fallback money" — a durable and fungible asset that holds value independently of any single country's creditworthiness. While gold has historically been linked to global instability or "apocalyptic thinking," its primary appeal is as a store of value in times of crisis or economic uncertainty. For individuals or countries facing economic instability, such as hyperinflation or geopolitical risks, gold provides a means to preserve wealth when traditional currencies fail. Central Bank and Institutional Demand : The recent bull market in gold was initiated b...