Gold Futures Close Higher

November 7, 2014

Kuala Lampur-Malaysia (Nov 7)   Gold futures contracts on Bursa Malaysia Derivatives ended higher today on renewed buying interest for the precious metal, said a dealer.

 The dealer said the stronger local gold market was in tandem with the New York Commodity Exchange (COMEX) gold futures, which recovered from a slide to 4-1/2 year lows.

 "Traders are now eyeing the US non-farm payroll data which will be released at 9.30 pm tonight (Malaysia time)," he told Bernama.

 At the close, November 2014 and December 2014 rose five ticks each to RM123.40 and RM123.60 a gramme respectively.

 January 2015 and February 2015 increased six ticks each to RM123.90 and RM124.20 a gramme respectively.

 Open interest went up to 2,099 contracts from 1,971 contracts on Thursday while turnover jumped to 224 lots worth RM2.02 million from 164 lots worth RM2.02 million previously.

 At 5 pm, the physical price of gold was 35 sen higher at RM119.13 per gramme from RM118.78 per gramme yesterday.

Source:  Bernama

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