By Mohd Khairi Idham Amran
KUALA LUMPUR, May 15 (Bernama) -- Gold futures contract on Bursa Malaysia Derivatives closed untraded today on cautious sentiment ahead of the release of the nation’s gross domestic product data tomorrow.
Phillip Futures Sdn Bhd trader Leo Goh Boon Hao said the market failed to take cue from the surging gold prices on the US Commodity Exchange (Comex) which was propelled by the prolonged US-China trade war.
“We believe the demand for gold will be higher as trade war that is heating up cannot be resolved in the short term,” he told Bernama.
At the close, May 2019, June 2019, July 2019 and August 2019 were pegged at RM173.80, RM173.80, RM174.30 and RM174.40 a gramme, respectively.
Volume was nil compared to yesterday’s six lots worth RM104,430 while open interest decreased to 29 contracts from 35 contracts previously.
At 5 pm, the price of physical gold was 29 sen higher at RM168.62 a gramme.