Gold Futures Extend Losses
Kuala Lumpur-Malaysia (Dec 19) Gold futures contracts on Bursa Malaysia Derivatives extended their losses to close lower today on lack of demand, a dealer said.
Phillip Futures Sdn Bhd dealer Lim Eng Wee told Bernama the lift in the equities market and the firm US dollar signal the economy's health, lowering demand for gold as an alternative investment tool.
At the close, December 2014, January 2015, February 2015 and March 2015 fell 19 ticks each to RM134.00, RM134.45, RM134.75 and RM135.15 a gramme respectively.
Open interest eased to 1,721 contracts from 1,746 contracts on Thursday, while turnover plunged to 30 lots valued at RM42,000 from 57 lots worth RM700,000 Thursday.
The physical price of gold at 5pm was 21 sen higher at RM129.65 per gramme from RM129.44 per gramme yesterday.