Experts bullish on gold

Rakuten Trade's Lau said the beneficiaries of the golden bull run include miners, jewellers as well as pawnbroking companies on the Malaysian stock exchange. — Bloomberg

PETALING JAYA: The rise in the price of gold to new highs has induced similar movements in the share prices of a number of gold-related counters on Bursa Malaysia, although analysts believe a correction may be due.

The precious metal went past the psychological US$2,300 per ounce ceiling on overnight trading yesterday, touching a peak of US$2,304.96, following remarks from the US Federal Reserve (Fed) chair Jerome Powell that it could be appropriate to begin lowering borrowing costs “at some point this year”.