KUALA LUMPUR, July 31 -- The gold futures contract on Bursa Malaysia Derivatives is likely to be in a quiet and unchanged trend next week amid a lack of market participation, a dealer said.
Phillip Futures Sdn Bhd dealer Tan Kien Kiong said the physical gold, however, is expected to continue to trade higher on weaker US dollar next week.
Back home, the local gold futures market remained unchanged for the whole week with no volume traded.
On a Friday-to-Friday basis, Bursa Malaysia’s gold futures contract for July 2021 remained at RM230.00 a gramme, while August 2021, September 2021 and October 2021 stood at RM255.00 a gramme respectively.
Volume remained nil while open interest stood at five contracts.
Meanwhile, the price of physical gold fell by RM2.95 to RM240.12 from last Friday’s RM237.17 a gramme.