KUALA LUMPUR, Jan 22 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended untraded today but settled slightly lower, taking the cue from a weaker benchmark US Commodity Exchange's (COMEX) gold futures market, dealers said.
A dealer said most Asian equity markets were higher today, thus denting the safe-haven appeal of gold, even though investors remained worried about the threat of the coronavirus in China.
“Investors are assessing the risk of this outbreak and its impact on economic growth,” he said.
Phillip Futures Sdn Bhd dealer Lee Kuan Yong said COMEX gold slipped as Chinese health officials said they had stepped up protective measures in hospitals to counter the new coronavirus that has raised fears of a global pandemic.
He added Bursa Malaysia's gold futures were expected to be mildly bullish tomorrow with support level seen at RM200 a gramme.
At the close, January 2020, February 2020, March 2020 and April 2020 settled six ticks lower at RM203.60, RM203.90, RM204 and RM204.90 a gramme, respectively.
Volume was nil compared to one lot worth RM20,420 yesterday, while open interest remained at 135 contracts.
At 5 pm, the price of physical gold went down 18 sen to RM196.77 a gramme.
Gold futures, Phillip Futures, COMEX, coronavirus