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By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, Feb 22 -- The gold futures contract on Bursa Malaysia Derivatives closed marginally higher today after being untraded for the past 13 trading days, an analyst said.
Phillip Futures Sdn Bhd dealer Carmen Yoon Kar Min said the local gold futures market saw one contract month traded today, for June 2021.
“However, it is still a quiet market, as COMEX gold futures fell to a seven-month low amid choppy cues from the US equities last week.
“Gold is expected to trade range-bound as investors are cautious of currency fluctuations,” Yoon told Bernama.
At the close, Bursa Malaysia gold futures for contract months February 2021, March 2021, April 2021 and May 2021 all stood at RM232.00 a gramme.
Distant month June 2021 increased 80 ticks to RM224.00 a gramme.
Volume stood at one lot against nil previously while open interest remained at 14 contracts from last Friday.
At 5 pm, the price of physical gold gained RM2.60 to RM225.58 a gramme from RM222.98 a gramme at the same time last Friday.