KUALA LUMPUR: Gold futures contracts on Bursa Malaysia Derivatives continued to close lower yesterday, tracking New York Commodity Exchange's (Comex) gold futures which hit an 8.5-month low.
Phillip Futures Sdn Bhd dealer, Ahmad Danial Zainudin, said Comex gold prices plunged following the US Federal Reserve's indication that it could raise borrowing costs faster than expected.
September 2014, October 2014, November 2014 and December 2014 declined 13 ticks each to RM127.7, RM127.8, RM128 and RM129.30 a gramme, respectively.
Open interests decreased to 3,684 contracts from 3,691 contracts recorded on Wednesday.
Turnover increased to 465 lots worth RM5.94 million from 357 lots valued at RM4.58 million yesterday. The gold physical price stood at RM122.95 a gramme, down 89 sen from Wednesday’s RM123.84. Bernama