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Gold futures contract unchanged at closing
Last update: 17/05/2018

By Rosemarie Khoo Mohd Sani

KUALA LUMPUR, May 17 (Bernama) -- Gold futures contract on Bursa Malaysia Derivatives closed unchanged today despite the downward trend on the New York Commodity Exchange’s (COMEX) gold futures market, said a dealer.

Phillip Futures Sdn Bhd Dealer Amberlyn How said COMEX gold futures fell following the strengthening of the US dollar and increase in US bond yield which rose to a nearly seven-year high.

"On the local front, the weakening of the ringgit against the US dollar as well as the impending new government policies could prompt investors to be extra cautious in investing in bullion which is deemed as safe haven,” How told Bernama.

May 2018, June 2018, July 2018 and August 2018 remained unchanged at RM165.70, RM166.50, RM166.90 and RM167.00 a gramme, respectively.

Volume amounted to two lots worth RM33,140 against four lots worth RM66,440 recorded yesterday while open interest increased to 47 contracts from 45 contracts previously.

At 5 pm, the price of physical gold was 42 sen lower at RM159.05 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 Banker’s Cheque, Bank Draft and Cashier’s Order. Do you think this additional charge is justified?

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