Gold Price Poised to Hit RM700 per Gram by Year-End Amidst Global Uncertainty

Malaysian financial experts anticipate a significant rise in gold prices, with projections suggesting it could reach RM700 per gram by the end of 2024. This forecast, while optimistic, is tempered by expectations of a steady, rather than volatile, increase. Currently, gold is trading around RM586.65 per gram, experiencing minor fluctuations influenced by rising oil prices and the resulting inflation concerns, which in turn reinforce the likelihood of sustained high interest rates.

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Sasaran RM700 segram bukan sesuatu yang mustahil, tetapi ia bergantung kepada beberapa pemangkin utama.

Dr. Mohd. Faisol Ibrahim, a Senior Lecturer in Economics and Banking at Universiti Sains Islam Malaysia (USIM), noted that while short-term price movements are expected, the medium to long-term outlook for gold remains positive, largely due to ongoing global uncertainties. He identified several key catalysts for reaching the RM700 mark: more aggressive global interest rate cuts, increased risk of economic recession, and continued active gold reserve accumulation by central banks worldwide.

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Antaranya ialah penurunan kadar faedah global yang lebih agresif, peningkatan risiko kemelesetan ekonomi, serta permintaan berterusan daripada bank pusat dunia yang kini aktif menambah rizab emas,” katanya kepada Utusan Malaysia.

Echoing this sentiment, Dr. Mohamad Idham Md. Razak, a Senior Lecturer at UiTM, also projected an upward trajectory for gold prices, potentially nearing or exceeding RM700 per gram by the end of 2026. He highlighted the ongoing crisis in West Asia as a significant driver, increasing inflationary pressures and boosting demand for gold as a safe-haven asset. However, he cautioned that a strengthening US dollar or persistently high interest rates could moderate this upward momentum in the short term.

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Sekiranya faktor ini berterusan, tidak mustahil harga emas boleh menghampiri atau melepasi paras RM700 segram.

Adding an international perspective, Kyle Rodda, a senior financial market analyst at Capital.com, observed that the Asian market is currently subdued due to public holidays in major consumer markets like China and India. He described the market as being at a "crossroads," awaiting the next catalyst to determine a clearer direction. Geopolitical tensions, particularly Iran's threats of retaliation against US positions, remain a key focus, underscoring the persistent demand for gold as a hedge against instability. Meanwhile, other precious metals like silver and platinum are also seeing mixed movements.

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Namun unjuran ini bergantung kepada beberapa keadaan luaran termasuk pergerakan dolar AS dan hala tuju kadar faedah global.