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Gold futures finish untraded

25/11/2021 08:31 PM

KUALA LUMPUR, Nov 25 -- The gold futures contract on Bursa Malaysia Derivatives closed untraded on Thursday amid tepid interest despite a bullish US COMEX gold performance. 

Phillip Futures Sdn Bhd dealer Stephen Lou said COMEX Gold was buoyed by persistent inflation concerns, with further gains in bullion clipped by expectations that the US Federal Reserve may hasten its monetary tightening soon.

"Gold price is expected to trade higher as safe haven bets boost buying following concerns over a resurgence in COVID-19 and global economic health. 

"However, trading is likely to be thin due to the US Thanksgiving holiday," Lou told Bernama.

At the close, spot month November 2021, December 2021, January 2022, and February 2022 all stood at RM255.0 a gramme.

Volume and open interest remained nil.

At 5 pm, the price of physical gold was up RM1.32 at RM235.90 a gramme from RM234.58 a gramme on Wednesday.




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