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By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, March 30 -- The gold futures contract on Bursa Malaysia Derivatives was unchanged today for the fifth consecutive trading day on subdued demand.
Phillip Futures Sdn Bhd dealer Tan Kien Kiong said the COMEX gold market, meanwhile, extended its downtrend compared with its previous closing price on stronger US dollar backed by higher US Treasury yields.
He said speedy COVID-19 vaccinations would likely improve economic outlook, but at the same time, would curbed demand for the safe-haven bullion.
At the close, Bursa Malaysia’s gold futures for contract months March 2021, April 2021 and May 2021 all stood at RM233.00 a gramme, while June 2021 remained at RM225.00 a gramme.
Volume remained nil while open interest stood at 10 contracts.
At 5 pm, the price of physical gold slipped RM2.76 to RM219.35 per gramme from RM222.11 per gramme on Monday.