KUALA LUMPUR (May 17): Shares in gold jewellers and retailers Tomei Consolidated Bhd and Poh Kong Holdings Bhd surged on Bursa Malaysia as gold hit a three-month high.
Tomei, which was the third top gainer this morning, hit limit up after rising as much as 30 sen or 29.7% to a nine-month high of RM1.31.
The counter saw 8.93 million shares change hands.
Poh Kong, which was the fourth top gainer, also soared 23 sen or 28.05% to a nine-month high of RM1.05.
The counter had seen 48.59 million shares traded.
Reuters reported that gold prices rose to a three-month high today as a weaker US dollar and declining bond yields boosted the previous metal’s appeal after data last week showed US retail sales unexpectedly stalled in April.
Spot gold was up 0.1% at US$1,844.60 (about RM7,623.73) per ounce by 0035 GMT after hitting its highest since Feb 10 in early Asian trade, according to Reuters.