Gold prices fell nearly 2% on Wednesday as US President Donald Trump backed down from threats to dismiss Federal Reserve (Fed) chair Jerome Powell and expressed optimism for a trade deal with top metals consumer China, denting bullion's safe-haven appeal.

Spot gold was down 1.9% at US$3,318.71 an ounce, as of 0552 GMT. US gold futures fell 2.7% to US$3,328.10.

Gold falls as Trump backs down from threat to fire Fed chief

Gold prices briefly broke above US$3,500 per ounce to an all-time high on Tuesday, after US President Donald Trump criticised Federal Reserve chair Jerome Powell, rattling investors and increasing demand for the safe-haven asset.

Gold touches US$3,500/oz amid Trump's attacks on Powell

CMOC Group, a leading Chinese cobalt and copper miner, agreed to buy Canada’s Lumina Gold Corp for about C$581 million (US$420 million or RM1.84 billion) to tap the largest primary gold deposit in Ecuador.

China’s CMOC agrees to buy Canada’s Lumina Gold for US$420m to tap gold deposit

Gold surged above US$3,400 to a new record high on Monday, as the dollar weakened and uncertainty over the economic impact of US-China trade tensions spurred demand for safe-haven bullion.

Gold extends record run, breaks above US$3,400/oz on safe-haven rush

Gold prices pulled back from a record high on Thursday as investors booked profits following a rally driven by concerns around US President Donald Trump's latest wave of tariff policies.

Spot gold was down 0.6% at US$3,321.89 an ounce, as of 1003 GMT, after touching a record US$3,357.40 earlier in the session. Bullion has gained 2.7% so far this week.

Gold prices retreat from record high as investors cash in

Gold prices have yet to peak despite the recent record-breaking rally, and investors seeking exposure to the precious metal should now buy into TradePlus Shariah Gold Tracker, said BIMB Securities.

Gold prices yet to peak despite record rally, BIMB Securities says in upgrading Gold ETF to buy

Gold prices rose surpassed the US$3,300 (RM14,580) for the first time on Wednesday, as investors sought safe-haven assets after US President Donald Trump ordered a probe into potential new tariffs on US critical mineral imports.

Gold crosses US$3,300 as trade tensions fuel record rally 

Gold prices rose on Tuesday amid continued uncertainty over US President Donald Trump's tariff plans and their impact on the global economy.

Spot gold was up 0.5% to US$3,226.24 an ounce, as of 0651 GMT, not far from Monday's record high of US$3,245.42.

Gold gains as markets grapple with US tariff uncertainty

China saw an explosive surge in gold trading last week as the metal hit successive records and Sino-US trade tensions rose.

The Shanghai Futures Exchange saw trading volumes of the precious metal hit the highest level in a year last week.

Gold-trading frenzy erupts in China as tensions with US escalate

Goldman Sachs Group Inc and UBS Group AG issued another round of bullish calls for gold, with stronger-than-expected central bank demand and the metal’s role as a hedge against recession and geopolitical risks underpinning expectations for even higher prices in 2025.

Goldman puts US$4,000 gold on the agenda as hunt for havens grows

Gold blazed past the US$3,200 mark on Friday, as a faltering dollar and an escalating US-China trade war stirred recession fears, sending investors flocking to the safety of the yellow metal.

Gold soars past US$3,200 as trade war deepens, dollar loses ground

Gold prices rose more than 1% on Thursday, extending previous session's sharp rise, as a drop in the dollar and an escalating trade war between the US and China drove investors towards the safe-haven allure of the precious metal.

Safe-haven gold shines as US-China trade war intensifies, dollar weakens

Hundreds of Indonesians are flocking to buy gold bars, betting that the precious metal's value could shield them from tougher economic times ahead as the currency and the stock market tumble in Southeast Asia's largest economy.

Indonesia is among dozens of countries affected by US President Donald Trump's tariffs, which took effect on Wednesday and have sent shockwaves through many economies. The rupiah has already hit historic lows, despite central bank intervention.

Indonesians rush to gold as rupiah and stocks plunge amid US tariff worries

Gold prices firmed on Wednesday as traders sought the safe-haven asset after US President Donald Trump's "reciprocal" tariffs came into effect, while a weaker dollar and the rising prospect of US rate cuts lent support.

Safe-haven gold gains as Trump's 'reciprocal' tariffs kick in

THE fight for control of Kuala Lumpur Tower (KL Tower), one of the world’s tallest telecom towers, has been getting attention lately, in part because its outgoing operator is preventing a smooth transition.

After 29 years, Menara Kuala Lumpur Sdn Bhd (MKLSB) was supposed to cease runnin...

Who will win the tussle over KL’s iconic tower?

The Penang property market was stable in the fourth quarter of 2024 (4Q2024), according to Nawawi Tie Leung Property Consultants Sdn Bhd executive director Saleha Yusoff in presenting The Edge Malaysia | Nawawi Tie Leung Property Consultants Penang Housing Monitor 4Q2024.

“In 4Q2024, th...

The Edge Malaysia | Nawawi Tie Leung Property Consultants Penang Housing Monitor 4Q2024: Market sees stable performance in 4Q2024,   driven by residential sector

UK government borrowing exceeded official forecasts made just last month, highlighting the fragile state of the public finances even before US tariffs dimmed the economic outlook.

UK budget deficit overshot forecast even before tariffs hit

Part of the wall of an international school in Taman Tun Dr Ismail (TTDI) here collapsed following a landslide on Wednesday morning.

Kuala Lumpur Fire and Rescue Department operations commander Azkhan Hamdan said no one was injured in the incident.

School wall collapses in TTDI landslide

US President Donald Trump said he plans to be “very nice” to China in any trade talks, and that tariffs will drop if the two countries can reach a deal, a sign he may be backing down from his tough stance on Beijing amid market volatility.

Trump floats cutting China tariffs ‘substantially’ in trade deal

Chinese authorities have asked e-commerce platform operators to stop insisting on merchants refunding customers without requiring the return of goods, to alleviate financial pressure on merchants, two people familiar with the matter said.

Chinese e-commerce platforms to end refund-without-returns amid weak economy, sources say

KUALA LUMPUR (April 23): Johor Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han announced that Forest City’s Special Financial Zone (SFZ) has welcomed its first family offices, CMY Capital Family Office and Yow Kee Family Office, and attracted interest from 30 other companies to set up operations in Johor Bahru.

Forest City SFZ welcomes first 2 family offices, sees interest from 30 other companies

Oil prices climbed more than 1% on Wednesday, extending the prior day's gains, as investors weighed a fresh round of US sanctions on Iran, a drop in US crude stocks and a softer tone from President Donald Trump towards the Federal Reserve (Fed).

Brent crude futures climbed US$1, or 1.5%, to US$68.44 a barrel at 0640 GMT, while US West Texas Intermediate crude was up 99 cents, or 1.6%, at US$64.66 a barrel.

Oil up more than 1% on fresh Iran sanctions, lower US crude stocks

PUTRAJAYA (April 23): Former Goldman Sachs Group Inc banker Roger Ng Chong Hwa is expected to take the stand on Thursday, in the ongoing 1Malaysia Development Bhd (1MDB)-Tanore criminal trial of former prime minister Datuk Seri Najib Razak.

Ex-Goldman banker Roger Ng expected to take the stand in Najib’s trial tomorrow

KUALA LUMPUR (April 23): Johor Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han announced that Forest City’s Special Financial Zone (SFZ) has welcomed its first family offices, CMY Capital Family Office and Yow Kee Family Office, and attracted interest from 30&nbsp;other companies to set up operations in Johor Bahru.

US President Donald Trump said he plans to be “very nice” to China in any trade talks, and that tariffs will drop if the two countries can reach a deal, a sign he may be backing down from his tough stance on Beijing amid market volatility.

Several areas in Selangor were affected by flash floods following heavy rainfall since early Wednesday morning.

Selangor Fire and Rescue Department assistant director of operations&nbsp;Ahmad Mukhlis Mukhtar&nbsp;said the affected areas were&nbsp;Sungai Buloh, Petaling Jaya&nbsp;and Subang Jaya.

Flash floods hit several areas in Selangor, no evacuations reported

SYDNEY (April 23): Stock markets were enjoying a much-needed relief rally in Asia on Wednesday, after US President Donald Trump&nbsp;said he had no plans to fire the head of the Federal Reserve, and hinted at lower tariffs for&nbsp;China.

Stocks, dollar rebound in Asia as Trump steps back

(April 23): It’s 8am and already sweltering at the&nbsp;Pomina Flat Steel JSC&nbsp;plant outside Ho Chi Minh City, as&nbsp;the night shift’s last pour of molten metal is shaped, cooled and cut into rods. Down the road, at a Vietnam Steel Corp facility, a&nbsp;long strip is uncoiled into an acid bath and fed through a powerful press, making it thinner but tougher.

In China’s backyard, steel buyer Vietnam is trying to stem a tide of cheap metal

Sapura Holdings Sdn Bhd's founder Tan Sri Shamsuddin Abdul Kadir took the stand on Wednesday as the company's winding-up case continued, following a breakdown in settlement talks between his sons, feuding brothers Tan Sri Shahril Shamsuddin and Datuk Shahriman Shamsuddin.

Sapura Holdings founder Shamsuddin takes the stand as sons' settlement talks fail

Malaysia’s headline inflation decelerated to its slowest in four years as price gains at restaurants and of other non-food items&nbsp;eased.

Malaysia's consumer inflation slowest in four years as non-food price gain eases

US Treasury Secretary Scott Bessent told a closed-door investor summit on Tuesday that the tariff stand-off with China cannot be sustained by both sides, and that the world’s two largest economies will have to find ways to de-escalate.

US Treasury Secretary Bessent expects tariff stand-off with China to de-escalate

(April 23):&nbsp;Chinese corporate and government borrowers have pushed issuance of dollar and euro bonds to a record proportion of all such note sales in emerging markets (EM) this month, in one sign of resilience to the&nbsp;trade war.

Chinese foreign bond sales mark record share of total in emerging markets

Ferrotec Holdings Corporation, a Japanese advanced materials and component company, will be investing RM1 billion for the construction of its second manufacturing facility in Kulim, Kedah.

Japan's Ferrotec to invest RM1 bil in second plant in Kedah

The imposition of US duties on solar panels from Southeast Asia&nbsp;will have far-reaching implications for&nbsp;the manufacturing base across the region, according to the Federation of Malaysian Manufacturers (FMM).

US solar duties threaten Malaysia's role in global clean energy supply chain, says FMM

The International Monetary Fund (IMF) has downgraded its real gross domestic product (GDP) growth forecast for Malaysia to 4.1% this year, from its January estimate of 4.7%, in line with a broader reduction in regional projections.

IMF cuts real GDP growth forecast for Malaysia to 4.1% in 2025

Former Goldman Sachs Group Inc banker Roger Ng Chong Hwa can testify as a defence witness in the ongoing 1Malaysia Development Bhd (1MDB)-Tanore criminal trial of former prime minister Datuk Seri Najib Razak.

Ex-Goldman banker Roger Ng can testify as Najib's defence witness, court rules

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz and his team have arrived in the US to urge US officials to review tariffs on Malaysian imports.

Zafrul lands in US, to meet with US Trade Rep Jamieson Greer over tariffs

KUALA LUMPUR (April 23): Bumi Armada Bhd (KL:ARMADA) is expected to report strong earnings in first quarter of 2025 (1QFY2025), but foresees a drop in the following quarters as its floating, production, storage, and offloading (FPSO) Kraken vessel sees a steep cut in its daily charter rates.

Bumi Armada to post strong 1Q earnings, later quarters impacted by FPSO Kraken rate cut — Maybank IB

KUALA LUMPUR (April 23): Malaysia will likely miss some economic and policy targets held back by fiscal constraints, bureaucratic drag, and global macro headwinds, said BIMB Securities.

Malaysia will miss some targets amid fiscal, bureaucratic drag, macro headwinds — BIMB

Japanese automaker Toyota Motor Corp&nbsp;on Tuesday signed an agreement to establish a wholly owned electric vehicle (EV) plant in Shanghai, in a strategic move to bolster its presence in China, the world's largest automotive market, Xinhua reported.

Toyota signs deal for US$2b EV project in Shanghai

Major Russian banks have set up a netting payments system dubbed "The China Track" for transactions with China, aiming to reduce their visibility to Western regulators and mitigate the risk of secondary sanctions, banking sources told Reuters.

'China Track' bank netting system shields Russia-China trade from Western eyes

Chinese President Xi Jinping said on Wednesday that tariff and trade wars undermine the legitimate rights and interests of all countries, hurt the multilateral trading system and impact the world economic order, the official Xinhua news agency reported.

China's Xi says tariffs and trade wars hurt world economic order

KUALA LUMPUR (April 23): Malaysia’s exports are likely to be impacted by the imposition of any direct tariffs, global growth slowdown or possible recession, but the longer-term outlook remains bright, as there is room for the country to benefit from supply chain diversification, said Franklin Templeton.

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