Gold futures close lower

Kuala Lumpur (Nov 27)  Gold futures contract on Bursa Malaysia Derivatives closed lower today weighed by the stronger US dollar, a dealer said

 Phillip Futures Sdn Bhd dealer Chang Hui Ying said the local gold futures also tracked the direction of the gold futures prices on the overnight US Commodity Exchange (COMEX) which were kept under pressure by a stronger dollar and rising equities.

“However, we expect the gold market to trade cautiously with an upside potential this week, as investors tend to flee to safe haven as the market is uncertain on the topic of the US-China trade talks,” Chang told Bernama.

 At the close, November 2018, December 2018, January 2019, and February 2019 lost 14 ticks each to RM164.70, RM164.70, RM164.80 and RM164.90 a gramme, respectively.

BernamaNews

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