GOLD FUTURES ENDS LOWER

NURUNNASIHAH AHMAD RASHID

KUALA LUMPUR, Nov 22 (Bernama) -- Gold futures contract on Bursa Malaysia Derivatives ended lower today on weak demand with one contract month traded, a dealer said.

Phillip Futures Sdn Bhd dealer Tan Kien Kiong said the local gold market's bearish performance was, however, in contrast with the better gold futures market on the US COMEX, following investors’ concerns over the prospects of an interim trade deal being struck between United States and China this year.

“There’s also uncertainty over how the 16-month-old trade war plays out and how much it may impact the global economic growth,” he said.

At the close, November 2019 and December 2019 fell 11 ticks each to RM197.45 and RM197.00 a gramme respectively, while January 2020 and February 2020 were 26 ticks lower at RM197.10 and RM197.30 a gramme, respectively.

Volume decreased to one lot worth RM19,710 against yesterday’s 17 lots worth RM343,345, while open interest also fell to 136 contracts from 150 contracts.

At 5 pm, the price of physical gold fell RM1.41 to RM190.22 a gramme.

-- BERNAMA