GOLD FUTURES RETREAT TO CLOSE LOWER

ZARUL EFFENDI RAZALI

KUALA LUMPUR, Jan 7 (Bernama) -- Gold futures contract on Bursa Malaysia Derivatives gave up yesterday’s gains to close lower today on mild profit-taking after its recent price surge, a dealer said.

Phillip Futures Sdn Bhd dealer Leo Goh Boon Hao said the gold market ended lower Tuesday in the absence of new developments surrounding the geopolitical tensions between the United States and Iran.

“Gold is likely to be supported in the short term as uncertainty remains (in US-Iran tension),” he told Bernama today.

At the close, January 2020, February 2020, March 2020 and April 2020 all declined 30 ticks each to RM205.30, RM206, RM206.40 and RM207.50 per gramme, respectively.

Volume was lower at one lot worth RM20,600 compared with Monday's two lots worth RM40,430, while open interest slipped marginally to 131 contracts from 135 contracts.

At 5 pm, the price of physical gold went down RM1.92 to RM199.05 per gramme. 

-- BERNAMA

 

TAGS: 

Gold, Bursa Malaysia Derivatives, US, Iran, profit-taking