Gold prices rose on Thursday, buoyed by a weaker dollar, while investor attention turned to US economic data for clues on the Federal Reserve's interest rate trajectory.

Spot gold was up 0.4% at US$2,325.89 per ounce by 0940 GMT. US gold futures GCcv1 were steady at US$2,338.30.

Gold gains ground on softer dollar, as eyes turn to US economic data

Some of the world’s biggest energy trading companies are returning to metals, years after getting burnt in the notoriously difficult markets.

World’s biggest energy traders are returning to metals

Gold’s record-setting rally this year has puzzled market watchers, as bullion has roared higher, despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.

Gold’s record-setting rally may have its roots in Chinese frenzy

BENGALURU (April 23): Gold prices extended losses for a second day to hit a more than two-week low on Tuesday, as diminishing fears about an escalation of tensions in the Middle East prompted investors to book profits ahead of key US economic data this week.

Gold drifts lower for second day as Middle East fears subside

Gold prices slipped more than 1% on Monday, as easing fears of a wider Middle East conflict lowered bullion's safe-haven appeal, while market participants awaited a key US inflation reading due later this week for interest rate cues.

Gold slips over 1% as fears of wider Middle East conflict ebb

Gold’s rise to all-time highs above US$2,400 (RM11,482) an ounce this year has captivated global markets. China, the world’s biggest producer and consumer of the precious metal, is front and center of the extraordinary ascent.

China is front and centre of gold’s record-breaking rally 

Safe-haven gold gained on Thursday as persistent tensions in the Middle East added to the metal's appeal despite robust economic data from the US that raised prospects of fewer interest rate cuts.

Spot gold firmed 0.8% at US$2,378.53 per ounce at 9.44am ET (1344 GMT). Prices touched an all-time high of US$2,431.29 last Friday.

Gold surges as escalating Middle East tensions bolster demand

Gold prices may correct amid potential delay in the anticipated rate cuts by the US Federal Reserve, Philip Capital warned on Thursday and advised investors to stop buying Malaysia’s sole gold exchange-traded fund (ETF).

Stop buying gold ETF as prices may correct — Philip Capital

Gold prices firmed on Wednesday as geopolitical turmoil in the Middle East spurred safe-haven demand, but fading US rate cut hopes capped further upside.

Spot gold rose 0.4% to US$2,391.10 per ounce, as of 9.40am ET (1340 GMT). Prices hit an all-time high of US$2,431.29 on Friday.

Gold drifts higher as Middle East turmoil lifts appeal

After a strong start to the year, silver should remain supported by record industrial usage and a supply deficit, according to the Silver Institute.

Industrial consumption hit an all-time high in 2023, and is expected to expand another 9% this year, driven by green-related applications such as solar panels, the institute said in its World Silver Survey report on Wednesday. That will help the metal record a fourth straight annual supply shortage.

Silver’s record industrial demand and deficit to underpin prices — report

Vietnam's parliament has asked the government to investigate gold trading firms for possible market manipulation amid soaring domestic prices, state media reported on Tuesday.

Vietnam to probe gold traders for possible manipulation as prices soar

Gold is set to reach US$3,000 (RM14,381.71) an ounce over the next six to 18 months on increasing investor inflows amid expectations that the Federal Reserve will eventually cut interest rates, Citigroup Inc said, adding to a roll call of Wall Street banks that have raised forecasts.

Gold seen hitting US$3,000 at Citi as investor inflows juice rally

The State Bank of Vietnam (SBV) will restart gold bar auctions after an 11-year suspension, amid efforts to increase supply of the precious metal to market, Thoi Bao Ngan Hang, its newspaper reported on Monday.

Vietnam to restart gold bar auctioning to increase market supply 

Gold prices rose above US$2,400 per ounce to an all-time high on Friday, heading for their fourth week of gains, as growing tensions in the Middle East prompted investors to seek refuge in the safe-haven assets.

Spot gold climbed 2.2% to US$2,424.32 per ounce as of 10.56am ET (1456 GMT) after hitting a record high of US$2,419.79. Prices were up 4% for the week.

Gold races past US$2,400/oz as Middle East tensions spur safe-haven rush

Prime Minister Datuk Seri Anwar Ibrahim on Thursday gave assurance that the revised Public Service Remuneration System (SSPA), which will be announced soon, will be the best ever introduced in the country.

Revised SSPA will be the best ever introduced — Anwar

Amazon.com's cloud-computing arm said it would invest US$11 billion in Indiana to build data centers, marking the state's largest capital investment, and promising at least 1,000 jobs.

The announcement by Amazon Web Services on Thursday builds on the online retail giant's already strong presence in the state, where it employs 26,000 full- and part-time staff.

Amazon to invest US$11 billion in Indiana to build data centers

Pavilion Real Estate Investment Trust (PavREIT) reported that its first quarter net property income (NPI) jumped 33.2% year-on-year, thanks largely to contribution from its newly acquired mall, Pavilion Bukit Jalil. The increase was also attributed to higher occupancy rates and higher revenue rent from its other retail malls.

PavREIT’s 1Q NPI jumps 33%, pays 2.48 sen distribution per unit

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to still tight labour market conditions.

US weekly jobless claims unexpectedly fall

US economic growth slowed more than expected in the first quarter, but an acceleration in inflation suggested that the Federal Reserve would not cut interest rates before September.

US economic growth slows more than expected in first quarter

The World Bank said on Thursday that Malaysia's education system still has areas for improvement, particularly in addressing learning challenges faced by children from disadvantaged backgrounds.

According to its 29th Malaysia Economic Monitor report for April 2024 entitled 'Bending Bamboo Shoots: Strengthening Foundational Skills' students, especially those in early childhood education, often lack school readiness skills.

World Bank: Imperative for Malaysia to narrow early childhood educational gaps to improve children's school readiness

J Sainsbury plc expects profits to rise this year on the back of strong food sales, as the company prioritises groceries above clothing and general merchandise.

Sainsbury’s sees retail profit above £1 bil this year

IndiGo, India's top airline by market share, placed an order with Airbus for 30 A350-900 jets, it said on Thursday, its first-ever order for widebody aircraft.

Indian carriers are trying to keep pace with the world's fastest-growing aviation market, where demand for air travel has surged post-pandemic, even as plane manufacturers struggled to meet output goals.

India's IndiGo places first-ever widebody order for 30 Airbus A350 jets

Thailand will name former corporate energy executive and central bank board member Pichai Chunhavajira as its new finance minister, taking over the role from Prime Minister Srettha Thavisin, two government sources told Reuters on Thursday.

Thailand to appoint former energy executive Pichai finance minister — Reuters

MOSCOW (April 25): The head of the Belarusian security service said on Thursday it had thwarted an attack on the capital Minsk by drones launched from Lithuania, Russian state news agencies said.

There was no immediate comment from NATO-member Lithuania.

"The State Security Co...

Belarus says it thwarted attack on capital by drones launched from Lithuania

Malaysia is in early discussions with tycoons on opening a casino in Forest City, people familiar with the matter said, in a bid to revive the beleaguered US$100 billion (RM478.35 billion) property project that counts the country’s monarch as one of its shareholders.

Malaysia is said to mull casino resort to revive Forest City

KUALA LUMPUR (April 25): Members of the the Employees Provident Fund (EPF) who are below 55 years old will have an Account 3 starting from May 11, from which they can make withdrawals at any time for any purpose —&nbsp;subject to a minimum withdrawal amount of RM50. This is on top of the two existing accounts they currently have for retirement savings.&nbsp;

EPF members under age 55 will have Account 3 starting May 11

Shares of YTL Corp Bhd rallied to a new all-time high on Thursday after Hong Leong Investment Bank (HLIB) flagged more upside even after a 42% year-to-date surge.

YTL Corp rallies to new all-time high after HLIB flags more upside

Digital Nasional Bhd (DNB), the state-owned company in charge of the 5G network infrastructure rollout, on Thursday named five new board members, comprising senior leaders from the telecom and technology industries.

Digital Nasional names senior telco and tech leaders as new directors

A made-in-China electric vehicle (EV) will hit US dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about US$8,000 (RM38,228) less.

How Volvo landed a cheap Chinese EV on US shores in a trade war

Sports retailer Al-Ikhsan Sports Sdn Bhd, in which state-owned private equity firm Ekuiti Nasional Bhd (Ekuinas) owns a 35% stake, has appointed Datuk Hishammudin Hasan as its new chief executive officer effective April 17.

Ekuinas-backed Al-Ikhsan Sports names former 7-Eleven head as CEO

Wireless carrier Axiata Group Bhd and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.

Axiata, Sinar Mas move closer to US$3.5b telco merger, Bloomberg reports

Prime Minister Datuk Seri Anwar Ibrahim on Thursday denied claims that the government will issue a licence for the operation of a casino in Forest City, Johor.

PM denies claims that govt issuing casino licence for Forest City

KUALA LUMPUR (April 25): Mega First Corp Bhd shares have likely peaked following a recent rally to new all-time highs, and investors should stop buying the stock now, Maybank Investment Bank (Maybank IB) said and downgraded the stock to ‘hold’.

Maybank IB is the first from a total of fi...

Mega First shares likely peaked; Maybank IB the first to downgrade stock

Housing and Local Government Minister Nga Kor Ming’s press secretary Pang Sock Tao was announced as the unity government’s candidate for the Kuala Kubu Baharu by-election on May 11.

Nga's press secretary Pang picked as unity govt's candidate for Kuala Kubu Baharu by-election

JOHOR BAHRU (April 25): The Johor branch of the Malaysian Quarantine and Inspection Services Department (Maqis) found parasitic worms Anisakis sp in samples of sardine cans from China that were brought in through the Sultan Iskandar Building (BSI) here, earlier this month.

Parasitic worms Anisakis sp found in canned sardines from China — Johor dept

IOI Properties Group broke ground on Thursday for Senna Puteri, its latest township development located in Sepang, Selangor. The developer is looking to launch 386 units of townhouses in its first phase before the end of the second quarter.

Spanning 117 acres in southern Klang Valley, the 12-phase Senna Puteri will be developed over the next 10 years, offering residential, commercial, recreational areas, green spaces, community hall, surau and more. It has a gross development value (GDV) of over RM3 billion.

IOI Properties breaks ground for 117-acre Senna Puteri in Sepang

KUALA LUMPUR (April 25): Agricore CS Holdings Bhd, a food ingredients supplier, has obtained approval from Bursa Malaysia Securities Bhd to list on its ACE Market.

Agricore CS Holdings gets Bursa Malaysia nod to list on ACE Market

Malaysia’s consumer inflation came in lower than expected in March from a year earlier as prices of healthcare and food rose at a slower pace, official data on Thursday showed.

The Consumer Price Index — Malaysia’s main gauge of inflation — rose 1.8% year-on-year, according to the Department of Statistics. The headline figure was a tad lower than the median 2% rise predicted in a Bloomberg survey of economists, and unchanged versus February’s 1.8% gain.

Malaysia’s inflation steady at 1.8% in March

The Malaysian Anti-Corruption Commission (MACC) has confirmed that former prime minister Tun Dr Mahathir Mohamad is among individuals under investigation by the commission.

Azam Baki confirms Dr M among individuals under MACC probe

AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business,&nbsp;has announced the mechanics of its plan via a bourse&nbsp;filing on Thursday.

AirAsia X to buy Capital A's aviation business for RM6.8b via share and debt deal 

The Court of Appeal has allowed a bid by Tan Sri Muhyiddin Yassin to have a bench of five judges to hear his review application to restore his acquittal by the High Court of four of his abuse of power charges last year.

His lawyer Chetan Jethwani said that Court of Appeal deputy registrar Muhammad Noor Firdaus Rosli informed the parties of the matter on Thursday morning during case management.

Appellate court grants Muhyiddin five-member bench for review of charges

KUALA LUMPUR (April 25): Former prime minister Datuk Seri Najib Razak had never instructed 1Malaysia Development Bhd’s (1MDB) management to transfer a total US$1.03 billion to Good Star Ltd, a company linked to the fugitive Low Taek Jho (Jho Low), the court heard on Thursday.

Najib never instructed 1MDB management to transfer monies to Good Star — witness

Investors are looking for the next policy domino to fall in Asia amid an escalating campaign against a resurgent dollar, after Indonesia used a surprise interest rate hike to defend the rupiah.

Asia’s hawks get put on alert after Indonesia’s shock rate hike

Luxchem Corp Bhd’s net profit for the first quarter ended March 31, 2024 (1QFY2024) surged over 54% to RM11.56 million or 1.08 sen per share from RM7.5 million or 0.7 sen per share a year earlier on the back of stronger earnings from both its trading and manufacturing segments.

The industrial chemical and material group’s revenue rose 19.8% to RM183.15 million versus RM152.83 million a year ago as driven by its trading and manufacturing segments, according to a bourse filing on Thursday. &nbsp;

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