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Gold futures contract ends untraded

03/05/2021 08:27 PM

By Sharifah Pirdaus Syed Ali

KUALA LUMPUR, May 3 -- The gold futures contract on Bursa Malaysia Derivatives ended untraded on lack of interest despite the better performance of the benchmark US COMEX gold futures, said a dealer. 

Phillip Futures Sdn Bhd dealer Lee Pei Wan said COMEX gold futures are edging higher on Monday on a weaker US dollar which failed to hold onto its earlier gains against a basket of major currencies while slightly lower Treasury yields are also providing some support.

“The market remained cautious while waiting for a series of US economic data to be released this week and a speech by Federal Reserve chairman Jerome Powell later today for market direction,” she told Bernama.

At the close, Bursa Malaysia’s gold futures contract for May 2021 stood at RM233.0 a gramme, June 2021 remained at RM225.0 a gramme, July 2021 at RM230.0 a gramme and August 2021 at RM235.0 a gramme.

Volume remained nil while open interest stood at eight contracts.

At 5 pm, the price of physical gold fell seven sen to RM226.59 a gramme from RM225.39 a gramme last Friday. 






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