By Nurunnasihah Ahmad Rashid
KUALA LUMPUR, Nov 20 -- The gold futures contract on Bursa Malaysia Derivatives ended the week untraded on weak demand and in line with the US COMEX gold, said Phillip Futures Sdn Bhd dealer Leo Goh Boon Hao.
He said the positive vaccine development continued to drive investors away from the precious metal.
“The bullion is likely to trade lower with the current scenario as investors will move to risky assets,” he told Bernama.
At the close, gold futures on Bursa Malaysia for contract month November 2020, December 2020, January 2021 and February 2021 were all unchanged at RM254.25, RM260.0, RM257.5 and RM251.0 a gramme, respectively.
Volume was nil, while open interest remained at 21 contracts.
At 5 pm, the price of physical gold rose RM1.03 to RM237.51 a gramme from RM236.48 a gramme yesterday.
Malaysian National News Agency
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