KUALA LUMPUR: Gold futures contracts on Bursa Malaysia Derivatives closed sharply lower yesterday on reduced demand.
A dealer said stronger US dollar curbed demand for gold after the US Federal Reserve ended its asset-purchase programme due to the improving labour market.
October 2014, November 2014 and December 2014 fell 38 ticks to RM127.35, RM127.75 and RM127.95 a gramme respectively.
January 2015 declined 36 ticks to RM128.25 a gramme.
Open interest was slightly higher at 2,748 contracts from Wednesday’s 2,735 contracts while turnover rose to 143 lots worth RM1.82 million from 88 lots worth RM1.15 million previously.
At 5pm, the physical price of gold was RM1.95 lower at RM123.10 a gramme from RM125.05 a gramme on Wednesday. Bernama