Gold Prices Expected to Remain Stable at $4,000-$5,000 Range

The Malaysia Gold Association expects gold prices to remain within a range of $4,000-$5,000 per troy ounce over the next one to two years. According to Datuk Seri Louis Ng, president of the association and founder of Public Gold, this stability is due to gold's continued demand as a sought-after asset. However, changes in major economies' interest rate trajectories could dampen demand and influence the precious metal's price direction.

Ng mentioned that gold has remained stable around $4,000-$5,000 per troy ounce for now, but its price direction will depend on the direction of interest rates in the United States and Japan. Public Gold's new refinery, located in Batu Kawan Industrial Park, is expected to refine up to 10 tonnes of precious metals annually and reduce transportation costs by refining scrap gold locally instead of sending it overseas.

The facility was constructed at an investment of $30 million and has created around 1,000 job opportunities directly. Public Gold serves over 2.6 million customers across several countries and has an integrated ecosystem encompassing trading, manufacturing, and refining.