Malaysia Gold Association Sees Stable Gold Prices Through 2028
The Malaysia Gold Association predicts that gold prices will remain stable between US$4,000 and US$5,000 per troy ounce over the next one to two years. According to Datuk Seri Louis Ng, the association's president, gold has remained a sought-after asset despite changes in major economies' interest rate trajectories.
Ng believes that this price range will provide strong support for gold prices, with movements in interest rates in the United States and Japan continuing to influence investment demand. He noted that the current price of US$4,350 per troy ounce is within this predicted range.
The launch of Public Gold's new refinery was also announced at the event, which will allow the company to refine scrap gold locally instead of sending it overseas. This will help reduce transportation, insurance, and refining costs.