KUALA LUMPUR, Sept 15 -- The gold futures contract on Bursa Malaysia Derivatives was untraded on Wednesday amid cautious sentiment in the benchmark US COMEX prices.

Phillip Futures Sdn Bhd dealer Wei Fook Lai said the US COMEX consolidated in a tight range near the key US$1,800 per ounce level as softer United States inflation data fed uncertainty about the Federal Reserve's (Fed) tapering timeline.

“The US core Consumer Price Index edged up 0.1 per cent in August, missing expectations of 0.3 per cent, and weighing on the US dollar. That was the smallest gain since February, followed by a 0.3 per cent rise in July.

“The inflation data could reinforce the view that the Fed may go slow on unwinding economic support measures and keep interest rates low,” 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 RM1.69 to RM232.85 a gramme from RM231.16 a gramme yesterday.

-- BERNAMA