GOLD FUTURES END EASIER ON DISRUPTED SAFE-HAVEN APPETITE

AZLEE NOR MAHMUD

KUALA LUMPUR, Nov 29 (Bernama) -- Gold futures contract on Bursa Malaysia Derivatives ended easier today as the ringgit’s apparent underlying strength disrupted investors’ appetite towards the safe-haven bullion, a dealer said.

Phillip Futures Sdn Bhd dealer Stephen Lou Yoke Lim said it was the case of dulled safe-haven appeal as the ringgit was quoted at 4.1750/1780 against the greenback at the close today, marking the third consecutive months of gains against the US dollar.

“Investors also hoped for a preliminary China-United States trade deal which had buoyed demand for riskier assets and the dollar,” he told Bernama.

At the close, November 2019 decreased 14 ticks to RM195.55 a gramme, December 2019 trimmed three ticks to RM196.30 a gramme, while January 2020 and February 2020 settled two ticks lower each at RM197.00 and RM197.20 a gramme, respectively.

Volume was higher at three lots worth RM59,810 compared with two lots worth RM39,745 on Thursday, while open interest remained at 139 contracts.

At 5 pm, the price of physical gold rose six sen to RM189.17 a gramme.

-- BERNAMA