KUALA LUMPUR, The gold futures contract on Bursa Malaysia Derivatives closed easier after a three-day rally. At the close, spot month July 2024 contract slipped to US$2,467.10 per troy ounce from US$2,472.60 per troy ounce yesterday. Meanwhile, August 2024, September 2024, October 2024, December 2024 and February 2025 fell to US$2,483.10 per troy ounce from US$2,488.60 per troy ounce on Wednesday. The local gold futures contract bucked the global trend, which saw gold prices on the New York Commodities Exchange (COMEX) continuing to rally as the market await the revision of United States (US) interest rates this year, fuelled by dovish comments by US Federal Reserves' officials. Volume fell to 18 lots from 34 lots yesterday, while open interest slid to 30 contracts from 46 contracts previously. The price of physical gold was at US$2,480.25 per troy ounce, according to the London Bullion Market Association's afternoon fix on July 17. Source: BERNAMA News Agency
Monday, October 21, 2024