US will keep low interest and print more money to keep economy alive. Need not to beg for gold price to rebound, market will act according to fact. Ultra rich families and investment firms will act to protect their wealth by buying gold. Moreover, gold production growth rate is small every year. US and China confrontation will always keep on increasing at least before the end of US election 2020.
Same as what I expected. All crushed. Foreign investor retreat, director & shareholder take profits. Gold price increase 0.5-1% increase 10-20% in shares. Gold price slightly drop 0.5-1% the drop will be 10-20%.
Profit taking started from overvalued top 4 glove counters then careplus n comfort ... Gold will remain at USD2000-2150 for next few months but both Poh Kong n Tomei has gone up from last 6 month average price of 52-57 cents to 1.60-1.75 (Tomei even 20 cents higher than Poh Kong)... Malaysians lack of platform to invest in gold coins , investing gold at USD1800-2000 to hedge against inflation n falling purchasing power of ringgit or USD not really crazy ... Maybe 1.70 n above for Poh Kong is expensive n half crazy ... :)
Profit taking n correction from glove counters , the profit taking effect spread to other health care counters n gold related counters.... Top 4 glove counters may face 10-13% correction from Friday closing prices ....
Those bought below 80 cents only having lower profit per shares ... Poh Kong n Tomei 3 times more solid than Niche , many ppl go to goreng Niche at 30-40 cents..... Niche is small company with only 15-16 mil inventory, already expensive at 30 cents...
Directors are disposing, gold price have stagnate and likely will drop. Next door glove counter announced record profits. Only natural for Bursa punters to abandon gold and hop over to gloves
Only Topglove n Supermax can deliver quarterly profit near expectation, other r overvalued n too expensive.... investing in glove counters are even more dangerous than investing/ speculating in other counters...
Analyst forecast gold would be trade at usd 2500 at the end of this year, so hold your stock. This just profit taking and break before share price hit rm2.00 in this week in line with the expectation gold future will break usd2100. Fundamental investor vs daily investors use different approach.. safe be fundamental investors as they look for long term.. gold have cool down time...but gold price indicate strongly on uptrend after profit taking now head to usd2100 resistance level. Buy low , sale high, if you stick to trading plan for cut loss and profit margin..
Gold up +1.38% or +$usd27.80 to trading at 2045.80 and still heading up break resistance level 2050 and subsequent resistance level 2080..I bet tomorrow will hit new high price gold future at usd2100. Just have faith.. can't wait to see gold price stock rally ...
At least glove makers have the numbers to back up their valuation and the order books to justify future value. The lousiest glove maker can report 100% jump in profits.
Poh kong reported a loss of 2 mil in the preceding quarter. This was also the quarter where MCO was enforced signaling that its profits come mainly from retail sales. So have retail sales recovered significantly since April to support the 2-3x price action? Do you see people lining up to buy gold?
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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....
TheYolo
121 posts
Posted by TheYolo > 2020-08-10 08:46 | Report Abuse
Sure up. Gold price rebounded, usd2100 coming soon