KUALA LUMPUR, Sept 21 -- The gold futures contract on Bursa Malaysia Derivatives remained untraded on Tuesday despite the steady gains on the benchmark US COMEX ahead of the US Federal Reserve’s (US Fed) tapering decision. 

Phillip Futures Sdn Bhd dealer Edison Lai said following this, gold prices are expected to remain lacklustre as investors are on the sideline, awaiting the US Fed outlook.

“The US Fed is likely to provide an outlook on how soon and how often they think the economy will need interest rate rises over the next three years at their September policy meeting,” Lai told Bernama.

At the close, spot month September 2021, October 2021, November 2021 and December 2021 all stood at RM255 a gramme. 

Volume and open interest were nil.

At 5 pm, the price of physical gold up 65 sen to RM229.66 a gramme from RM229.01 a gramme on Monday.

-- BERNAMA