GOLD FUTURES LIKELY TO TRADE HIGHER NEXT WEEK

AZLEE NOR MAHMUD

KUALA LUMPUR, Nov 30 (Bernama) -- Gold futures contract on Bursa Malaysia Derivatives is expected to trade higher next week amid uncertainties surrounding the trade deal between the United States (US) and China, said a dealer.

Phillip Futures Sdn Bhd dealer Stephen Lou Yoke Lim said Bursa Malaysia gold was expected to rise following Beijing's warning to the US on Thursday that it would take "firm counter-measures" in response to US legislation supporting anti-government protesters in Hong Kong.

“Investors seek clarity on the US-China trade developments after the US backed anti-government protesters in Hong Kong,” he told Bernama.

On a Friday-to-Friday basis, spot month November 2019 declined 38 ticks to RM195.55 a gramme, December 2019 fell 14 ticks to RM196.30 a gramme, while January 2020 and February 2020 trimmed two ticks each to RM197.00 and RM197.20 a gramme, respectively.

Weekly turnover fell to 15 lots worth RM299,910 from 25 lots worth RM502,460 in the previous week, while open interest increased to 139 contracts from 136 contracts. 

-- BERNAMA