KUALA LUMPUR, Feb 11 (Bernama) -- Gold futures contract on Bursa Malaysia Derivatives closed lower today in line wih the weaker performance on the New York Commodity Exchange (Comex) gold futures market, with only one contract month traded.
Phillip Futures Sdn Bhd dealer Chang Hui Ying said uncertainties, due to renewed concerns over US-China trade tension, which shifted investors’ interest towards the US dollar, was placing pressure on the precious metal.
“This week, the focus will be on the trade talks between Beijing and Washington, slated to kick off on Thursday,” Chang told Bernama.
Spot month February 2019 fell 14 ticks to RM171.30 a gramme while March 2019, April 2019 and May 2019 stood at RM171.30, RM171.60 and RM171.70 a gramme, respectively.
Volume stood at one lot, worth RM17,130, while open interest amounted to 22 contracts.
At 5 pm, the price of physical gold was up 14 sen at RM165.70 per gramme.