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Gold Futures Ends Lower For Fourth Consecutive Day
Last update: 07/12/2017

KUALA LUMPUR, Dec 7†(Bernama) -- Gold futures contract on Bursa Malaysia Derivatives ended lower for the fourth consecutive day on subdued demand for the commodity.

Phillip Futures Sdn Bhd Dealer Amberlyn How said investors shunned the safe-haven asset after the US dollar was elevated by the positive sentiment over the US tax reform plans.

"The downtrend on the local gold market was also in tandem with the bearish New York†Commodity Exchange gold price†which fell to its four-month low since Aug 8," she told Bernama.

December 2017, January 2018, February 2018 and March 2018 closed 14 ticks lower each at RM166.40, RM166.80, RM167.30 and RM168.00 a gramme, respectively.

Volume slid to six lots, worth RM99,970, from Wednesday's eight lots valued at RM133,980†with open interest easing to 102 contracts from 103 contracts yesterday.

At 5 pm, the price of physical gold was 79 sen lower at RM159.79 a gramme.

-- BERNAMA † †


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US 3.9740/9780
S'pore 2.9562/9596
100 Yen 3.5753/5799
Sterling 5.3391/3448
Euro 4.6698/6749
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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