KUALA LUMPUR, Oct 11 (Bernama) -- Gold futures contract on Bursa Malaysia Derivatives closed higher today, tracking the benchmark New York Commodity Exchange (COMEX) gold market, which was trading on an uptrend, a dealer said.
He said the precious metal benefited from the global equity markets that continued to suffer from bearish inclinations.
“But we believe the upside is still limited at the moment, as rising yield will cap the gains for bullion prices,” he added.
October 2018 rose 16 ticks to RM160.50 a gramme, while November 2018, December 2018 and January 2019 gained 12 ticks each to RM160.50, RM160.80 and RM160.85, respectively.
Turnover rose to three lots worth RM48,150 from nil yesterday, while open interest was higher at 29 contracts versus 26 contracts.
At 5 pm, the price of physical gold jumped RM1.63 to RM154.92 a gramme from RM153.29 a gramme on Wednesday.