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Gold futures contract extends gains
Last update: 14/03/2018

KUALA LUMPUR, March 14†(Bernama) --†Gold futures contract†on Bursa Malaysia Derivatives extended its gains for the second consecutive session today on buying support for the precious metal as the US dollar weakened.

Phillip Futures Sdn Bhd Dealer, Tan Sek Wei, said the local market was influenced by the firmer†US Commodity Exchange's gold market†on the depreciation of the greenback and investors? concerns about turmoil in the President Donald Trump administration.

"The key US economic data released†yesterday, which came in within the market's expectation,†saw the Consumer Price Index for February up by 0.2 per cent†and up 2.2 per cent†year-on-year," he told Bernama.

Another dealer said the ringgit's downtrend today has spurred demand for gold among foreign buyers. †The ringgit†finished easier against the US dollar at†3.9040/9080 today compared with yesterday's 3.8950/9010.

At the close, March 2018, April 2018, May†2018 and June 2018 were all four†ticks firmer at RM166.30, RM166.55,†RM167.30†and RM167.30 a gramme, respectively.

Volume was six†lots worth RM99,780†compared with five lots valued at RM83,050† on Tuesday,†while open interest widened to 76†contracts from 73†contracts yesterday.

At 5 pm, physical gold increased 97†sen to†RM160.79 a gramme.



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US 3.9960/9990
S'pore 2.9580/9611
100 Yen 3.6147/6177
Sterling 5.2935/2979
Euro 4.6342/6384
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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