KUALA LUMPUR, Aug 23 -- The gold futures contract on Bursa Malaysia Derivatives ended lower today on lack of demand.
Phillip Futures Sdn Bhd dealer Leo Goh Boon Hao said China’s move to impose additional tariffs on US goods also affected the market.
It was reported that China announced plans to impose additional tariffs on US$75 billion US goods ranging from 5.0 per cent to 10 per cent in two batches effective Sep 1 and Dec 15; a 25 per cent tariff on US cars; and a 5.0 per cent on auto parts and components, effective Dec 15.
At the close, August 2019, September 2019, October 2019 and November 2019 declined 20 ticks each to RM200.00 a gramme, RM200.40 a gramme, RM202.80 and RM200.90 a gramme, respectively.
Volume was lower at three lots worth RM from six lots valued at RM 121,760, while open interest was slightly higher at 123 contracts against 122 contracts previously.
At 5 pm, the price of physical gold went down five sen to RM194.91 a gramme.
-- BERNAMA