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Gold Futures End Lower

KUALA LUMPUR, May 19 (Bernama) -- Gold futures contract on Bursa Malaysia Derivatives (BMD) closed lower today as traders chose to cut long exposures as the week ended.

Meanwhile, gold benchmark at the New York Commodity Exchange's (Comex) market continued to trade higher on Friday.

Phillip Futures Sdn Bhd Dealer Leo Goh Boon Hao attributed this to traders opting for profit-taking for long positions (at BMD) as the bullion surged 1.46 per cent on weekly basis.

At close, spot month May 2017 eased 37 ticks to RM174.15 a gramme, June 2017 slipped 38 ticks to RM174.25 a gramme, while settlement for July 2017, which was untraded, was shifted to RM174.65 a gramme.

Meanwhile, distant month December 2017 edged down seven ticks to RM174.05 a gramme.

Volume shrank to 16 lots worth RM278,700 from 25 lots worth RM440,280 on Thursday, while open interest rose to 265 contracts from 261 contracts, previously.

At 5 pm, the price of physical gold was RM1.31 lower at RM167.98 a gramme.

-- BERNAMA


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CLOSING, FRIDAY, MAY 26
US 4.2670/2700
S'pore 3.0844/0886
100 Yen 3.8452/8496
Sterling 5.4912/4955
Euro 4.7859/7897
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
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