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Gold futures contract closes lower
Last update: 16/05/2018

By Farhana Poniman

KUALA LUMPUR, May 16†(Bernama) -- Gold futures contract†on Bursa Malaysia Derivatives closed lower†today in tandem with the†losses on†the†New York Commodity Exchange's (COMEX) gold futures market, said a dealer.

Phillip Futures Sdn Bhd Dealer Amberlyn How said local market sentiment towards the gold market was hurt by the decline in†COMEX gold futures, which were†impacted by a†stronger dollar.

"Furthermore, the†weaker ringgit also trimmed the demand for ringgit-denominated gold," she told Bernama.

May 2018 fell 34 ticks to RM165.70 a gramme,†June 2018 declined 20 ticks to RM166.50 a gramme while†July 2018 and August 2018 were flat at RM166.90 and RM167.00 a gramme,†respectively.

Volume amounted to four lots†worth RM66,440 versus ten lots†worth RM168,320 recorded yesterday while open interest stood at 45 contracts from 55 contracts.

At 5 pm, the price of physical gold was RM1.73 sen lower†at RM159.47†per gramme.



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US 4.0470/0500
S'pore 2.9655/9688
100 Yen 3.5973/6010
Sterling 5.3574/3626
Euro 4.7285/7324
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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