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Gold futures end untraded
Last update: 14/10/2021

By Sharifah Pirdaus Syed Ali

KUALA LUMPUR, Oct 14 -- The gold futures contract on Bursa Malaysia Derivatives remained untraded on lack of interest, a dealer said.

Phillip Futures Sdn Bhd dealer Lou Yoke Lim said, however, that US COMEX gold futures were traded higher, whetted by the precious metal’s safe haven appeal following the weakness in the US dollar and US Treasury bond yields.

“COMEX Gold jumped in reaction to a stronger-than-expected US consumer price index report.  Investors are betting that high inflation would linger for a lot longer than what had been anticipated.

“Gold prices are also expected to trend higher in the near term on concerns of the rising Chinese producer prices as well as the potential of US central bank withdrawing support for the economy and raise interest rates sooner than expected,” he told Bernama.

Hong Leong Research said in a note that the market saw gold prices rallying by around two per cent with futures advancing to U$1793.7 per ounce, its best day since March this year.

“The US dollar weakened as yields ticked lower, which in turn boosted gold prices,” it added.

At the close, spot month October 2021, November 2021, December 2021, and January 2022 all stood at RM255 a gramme.

Volume and open interest were both nil.

At 5 pm, the price of physical gold rose RM3.47 to RM232.00  a gramme from RM228.53 a gramme on Wednesday. 

-- BERNAMA
 


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OPENING, TUESDAY, MAR 9
US4.1180/1230
S'pore3.0479/0520
100 Yen3.7752/7805
Sterling5.6882/6967
Euro4.8769/8833
Source: Bank Negara Malaysia

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