Gold futures end easier on disrupted safe-haven appetite

November 29, 2019

KUALA LUMPUR-Malaysia (Nov 29) -- Gold futures contract on Bursa Malaysia Derivatives ended easier today as the ringgit’s apparent underlying strength disrupted investors’ appetite towards the safe-haven bullion, a dealer said.

 Phillip Futures Sdn Bhd dealer Stephen Lou Yoke Lim said it was the case of dulled safe-haven appeal as the ringgit was quoted at 4.1750/1780 against the greenback at the close today, marking the third consecutive months of gains against the US dollar.

“Investors also hoped for a preliminary China-United States trade deal which had buoyed demand for riskier assets and the dollar,” he told Bernama.

 At the close, November 2019 decreased 14 ticks to RM195.55 a gramme, December 2019 trimmed three ticks to RM196.30 a gramme, while January 2020 and February 2020 settled two ticks lower each at RM197.00 and RM197.20 a gramme, respectively.

 Volume was higher at three lots worth RM59,810 compared with two lots worth RM39,745 on Thursday, while open interest remained at 139 contracts.

 At 5 pm, the price of physical gold rose six sen to RM189.17 a gramme.

 -- BERNAMAnews

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