KUALA LUMPUR, Sept 14 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended higher today, tracking the uptrend in the New York Commodity Exchange’s (COMEX) gold market as the US dollar eased after the release of weak US inflation data.
Phillip Futures Sdn Bhd Derivative Dealer Ong Su Ling said, however, the gain in gold prices was limited as market players expected the US Federal Reserve to raise its interest rate later this month.
"In the physical market, gold buying in major Asian centres, India and China, have slowed down as bullion prices rebounded from recent lows," she told Bernama.
At the close, September 2018, October 2018, November 2018 and December 2018 all increased 14 ticks to RM161.20, RM161.20, RM161.20 and RM161.40 a gramme, respectively.
Turnover fell to one lot worth RM16,120 from four lots worth RM48,360 on Thursday, while open interest declined to 25 contracts from 29 contracts yesterday.
At 5 pm, the price of physical gold fell 26 sen to RM155.25 a gramme from RM155.51 a gramme yesterday.