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MARKET

Gold futures contract ends untraded

04/05/2021 08:22 PM

By Sharifah Pirdaus Syed Ali

KUALA LUMPUR, May 4  -- The gold futures contract on Bursa Malaysia Derivatives ended untraded today on lack of interest, said a dealer. 

Phillip Futures Sdn Bhd dealer Lee Pei Wan said US COMEX gold futures prices moved sideways today amid a stronger US dollar, while Federal Reserve chair Jerome Powell’s optimistic statement on the economy also weighed on the yellow metal’s safe-haven appeal.

"Traders are now awaiting the announcement on US services data due on Wednesday for market direction on the health of the economy," 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 was pegged at RM230.0 a gramme and August 2021 stood at RM235.0 a gramme.

Volume remained nil while open interest stood at eight contracts.

At 5 pm, the price of physical gold rose RM2.22 to RM228.81 a gramme from RM226.59 a gramme yesterday. 

-- BERNAMA

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