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Gold Futures Contracts Close Higher
Last update: 17/07/2017

By Azlee Nor Mahmud

KUALA LUMPUR, July 17 (Bernama) -- Gold futures contracts on Bursa Malaysia Derivatives closed††higher today in line with the New York Commodity Exchange\'s (COMEX) gold futures market on Friday, dealers said.

Phillip Futures Sdn Bhd Dealer, Chu Ching Yong,†said† COMEX†gold prices edged up as the US†dollar fell to multi-month lows after the prospect for further interest rate increase in the US†this year dimmed following softer US†economic data last week.

"For Tuesday, we believe that Bursa Malaysia's gold prices would continue its upward movement tracking COMEX's gold prices as US dollar remains pressured," he told Bernama today.

At the close, spot month July 2017 rose 25 ticks to†RM170.5, †August 2017 was up 23 ticks to RM171, September 2017 and October 2017 added 18 ticks each to RM171.15†and RM172†a gramme, respectively.

Volume slipped†to two lots valued at RM34,100†from nine†lots†worth RM152,500†on Friday, while open interest declined to 229 contracts from 232 contracts previously.

At 5 pm, the price of physical gold rose RM1.20†to RM164.13 a gramme from Friday's RM162.93 a gramme.



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MON, DEC 11, 2017
US 4.0850/0880
S'pore 3.0188/0230
100 Yen 3.5941/5976
Sterling 5.4694/4746
Euro 4.8089/8128
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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