KUALA LUMPUR: Gold futures contracts extended Monday’s gains to close firmer yesterday, in sync with the bullish New York Commodity Exchange’s (COMEX) gold futures.
Phillip Futures Sdn Bhd Dealer, Lim Eng Wee, said the overnight jump in COMEX gold futures was lifted by bargain hunting after Swiss voters rejected a proposal for their central bank to increase bullion holdings.
He said prices were also supported by news that India would ease import ruling, but trade sources said that overseas purchases may not be quick to emerge due to adequate stocks in the country.
At the close, December 2014 rose 66 ticks to RM132.30 a gramme, January 2015 improved 73 ticks to RM132.55 a gramme, and February 2015 increased 65 ticks to RM132.85 a gramme.
Meanwhile, March 2015 was introduced at RM133.25 a gramme.
Open interests widened to 2,237 contracts from Monday’s 2,084 contracts while turnover went up to 319 lots worth RM4.23 million from 229 lots worth RM2.96 million previously.
At 5pm, the physical price of gold was RM3.37 higher at RM127.55 a gramme from RM124.18 a gramme previously.
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