KUALA LUMPUR (April 3): The gold futures contract on Bursa Malaysia Derivatives is likely to be in a quiet and unchanged market next week amid lack of market participation, a dealer said.
“Gold is expected to trade in consolidation mode with no fresh catalysts to drive the local gold futures market movement,” Phillip Futures Sdn Bhd dealer Tan Kien Kiong told Bernama.
During the week just ended, the movement of the local gold market was mainly influenced by the benchmark US COMEX gold futures, the US dollar performance amid US Treasury yields as well as global oil prices.
The local gold futures market has been unchanged for the eighth time yesterday,
On a Friday-to-Friday basis, gold futures on Bursa Malaysia Derivatives contract months for April 2021 and May 2021 stood at RM233.00 a gramme respectively.
June 2021 remained at RM225.00 a gramme and July 2021 was pegged at RM230.00 a gramme.
Volume remained nil while open interest stood at 10 contracts.
Turnover also remained nil, while open interest was unchanged at 10 contracts.
Meanwhile, the price of physical gold was down four sen to RM222.51 per gramme yesterday from RM222.55 per gramme a week earlier.
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