KUALA LUMPUR: Gold futures contracts on Bursa Malaysia Derivatives ended lower yesterday on lack of catalysts, said Philip Futures Sdn Bhd dealer Ahmad Danial Zainudin.
He said the weaker gold market was mainly due to the rising US dollar in the global market and continuous outflows from bullion-backed funds.
“Traders remained on the sidelines, with trading in a tight price range, ahead of this weekend’s Swiss referendum on central bank gold holdings,” he said.
November 2014, December 2014, January 2015 and February 2015 all fell six ticks to RM128.65, RM129.00, RM129.25 and RM129.55 a gramme respectively.
Open interest declined to 2,041 contracts from 2,110 contracts on Wednesday while turnover reduced to 108 lots worth RM1.8 million from 161 lots worth RM2.09 million previously.
At 5pm, the physical price of gold was 67 sen lower at RM124.24 a gramme from RM124.91 a gramme previously.
No comments:
Post a Comment