Gold price hits usd2040. More printing USD by FEDERAL RESERVE. US, China, Europe, UK, Japan government & etc keep pumping paper money to keep economy alive. Only gold can't print. This year end, at least USD2300 per ounce. Other investment banks gold target price are USD3000 to USD4000 range in one year.
Now, no more US & CHINA trade war, escalating to higher level of confrontation. Gold future is too good but bad for world economy in long term.
Dato Chong family bought back Poh kong share again, own 62.73%, means regreting to sell it too early. This applies to glove stock owners who sold their share too early, lost at least 200% per share. In one hour time, trade volume is close to 30 million. Total Poh Kong share only 410 million.
Poh Kong having RM560 mil of gold inventory at last year end ( while world gold price was USD1400-1480 per ounce ); now ytd gold has gone up 35%.... the value of gold holding is more than 770 mil even though Poh Kong has debts of more than 150 mil ....:)
Pohkong dont have goldmine, they are just manufacture gold and have shop to sell gold. More higher the gold price, people will not buy for it. Good luck when buy Pohkong, one day it drop I don't know.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
kuring2
605 posts
Posted by kuring2 > 2020-08-04 23:27 | Report Abuse
Gold price touch new high limit today 1,994. From yesterday closing 1,976.. seems good news.. 2,000/ounce will be real..