KUALA LUMPUR, Aug 10 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended lower in line with the weaker gold prices on the New York Commodity Exchange (Comex) in the overnight trade amid a stronger US dollar, a dealer said.
“The dollar rose to its highest in more than a year against a basket of major currencies, making gold less attractive for investors,” Phillip Futures Sdn Bhd Derivative Dealer Lee Pei Wan told Bernama.
At the close, spot month August 2018 eased four ticks to RM159.50 a gramme, September 2018 declined ten ticks to RM15.50 a gramme, and October 2018 and November 2018 lost 12 ticks each to RM159.60 and RM160.40 a gramme, respectively.
Turnover stood at one lot worth RM15,960 compared with zero yesterday, while open interest increased to 36 contracts from 35 contracts.
At 5 pm, the price of physical gold was down one sen to RM153.71 a gramme.