Saham syarikat pengeluar emas terkemuka negara Tomei Consolidated Bhd dan Poh Kong Holding Bhd jatuh pada dagangan hari selasa pagi ini disebabkan kejatuhan harga emas semalam.
Saham Tomei dilaporkan susut 7.61% kepada 85 sen manakala Poh Kong jatuh 6.78% kepada 82.50 sen di bursa saham hari ini.
Harga emas dilaporkan mengalami kejatuhan paling teruk tahun ini berpunca dari berita penemuan vaksin covid-19 semalam.
Keratan Laporan Berita The Star 10 November 2020
Jewellers Tomei Consolidated and Poh Kong Holdings Bhd fell in early trade Tuesday although gold prices gained some ground after falling on Monday.
Other gold-related stocks such as Bahvest Resources Bhd fell 2.5 sen to 49.5 sen and MUI Properties Bhd declined one sen to 22 sen.
Gold prices got hit earlier with Covid-19 vaccine news as demand for safe-havens disappeared as investors rushed to value stocks.
Spot gold rose 0.5% to US$1,871.81 per ounce by 0136 GMT, Reuters reported.
It fell to US$1,849.93, its lowest level since Sept. 28, on Monday after U.S. drugmaker Pfizer Inc said its experimental Covid-19 vaccine was more than 90% effective, based on initial trial results.
OANDA senior market analyst Edward Moya said gold prices got hit with a vaccine right hook as demand for safe-havens disappeared as investors rushed to value stocks.
He said Pfizer’s vaccine news was so positive investors had to overlook the short-term headwinds that are hitting the economy.
“The next six months will be a tough time for the US economy as small businesses will not be able to survive the return to lockdowns and restrictive measures.
“Gold appears very vulnerable, but the short-term stimulus trade remains intact as central banks will increase accommodation over the next several months,” he said.