KUALA LUMPUR, Sept 14 -- The gold futures contract on Bursa Malaysia Derivatives was untraded on Tuesday amid weaker sentiment in the benchmark US COMEX prices.
Phillip Futures Sdn Bhd dealer Wei Fook Lai said US COMEX Gold edged slightly lower as investors set their sights on US consumer price data that could offer clues on when the US Federal Reserve will decide to temper its economic support.
“Gold prices have struggled to break out above US$1,800 per ounce, reflecting uncertainty about the ongoing impact of the COVID-19 coronavirus, economic growth, inflation expectations and monetary policy.
“Investors will be on the watch for the consumer price index for August, due to be released today to decide the next direction for gold prices,” he told Bernama today.
At the close, spot month September 2021, October 2021, November 2021, and December 2021 all stood at RM255.00 a gramme.
Volume and open interest were nil.
At 5 pm, the price of physical gold rose 2.0 sen to RM231.16 a gramme from RM231.14 a gramme yesterday.