Gold futures ends higher

May 25, 2018 | By | Reply More

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KUALA LUMPUR: Gold futures contract on Bursa Malaysia Derivatives closed higher today as investors turned to the precious metal after US President Donald Trump cancelled a planned meeting with North Korea leader Kim Jong-Un, said a dealer.

Phillip Futures Sdn Bhd Dealer Kiang Jia Ling said the decision taken by Trump triggered safe-haven buying.

Gold is deemed as a safe-haven investment during political and financial uncertainties.

May 2018 rose seven ticks to RM167.05 a gramme while June 2018, July 2018 and August 2018 all increased two ticks each to RM167.65, RM168.05 and RM168.15 a gramme, respectively.

Turnover rose five lots, worth RM83,645, compared with Thursday’s one lot, valued at RM16,755, while open interest was higher at 49 contracts from 45 contracts on Thursday.

At 5pm, the price of physical gold was 99 sen higher at RM161.52 a gramme. — Bernama

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