KUALA LUMPUR, Jan 11 (Bernama) -- Gold futures contract on Bursa Malaysia Derivatives ended easier with one contract month traded today, on a lack of buying interest due to a stronger ringgit.
A dealer said a stronger ringgit was viewed as negative for the ringgit-denominated gold as it made the local bullion more expensive for foreign buyers.
“The local currency traded higher against the US dollar today as demand improved amid unclear foreign exchange direction,” he said.
January 2019, February 2019, March 2019 and April 2019 fell 16 ticks each to RM170.00, RM170.20, RM170.70 and RM170.80 a gramme, respectively.
Volume was one lot worth RM16,750 compared with yesterday’s one lot worth RM17,150, while open interest slid to 23 contracts versus 27 contracts previously.
At 5 pm, the price of physical gold went down 21 sen to RM164.57 a gramme.