KUALA LUMPUR, Aug 18 — Gold futures contracts on Bursa Malaysia Derivatives closed higher today, helped by the weakness in the US dollar due to uncertainty over interest rate hike.
Phillip Futures Sdn Bhd dealer Ler Wee Liang said a stronger Bursa gold was also in line with COMEX gold.
“COMEX gold is likely to remain range bound until we have further clues on the US interest rate hike. Bursa Malaysia gold is likely to follow the COMEX gold’s movement,” he added.
At the close today, August 2016, September 2016, October 2016 and November 2016 increased 12 ticks each to RM173.55, RM174.15, RM174.35 and RM175.75 a gramme, respectively.
Volume rose to 14 lots worth RM177,240 from five lots worth RM73,850 on Wednesday, while open interest was slightly higher at 278 contracts from 272 contracts yesterday.
At 5 pm, the price of physical gold rose 32 sen to RM167.56 a gramme from RM167.24 a gramme yesterday. — Bernama
