KUALA LUMPUR: Gold futures contracts on Bursa Malaysia Derivatives is expected to trade at the current level of between RM143 a gramme and RM145.50 a gramme next week.
Phillip Futures Sdn Bhd dealer Ong Su Ling said investors are watching closely for the US consumer prices data released on late Friday and comments from the US Federal Reserve (Fed) officials next Thursday.
“Many analysts are now betting that rates will not be raised until September, with the physical demand from both China and India remaining slow,” said Ong.
The local market was traded mostly lower for the week just ended.
On a Friday-to-Friday basis, April 2015 declined 46 ticks to RM140.10 a gramme, May 2015 eased 56 ticks to RM140.10 a gramme, June 2015 shed eight ticks to RM140.60 a gramme and July 2015 trimmed 50 ticks to RM141.20 a gramme.
Volume for the week surged to 2,091 lots worth RM29.85 million from 662 lots worth RM9.35 million last week.
Open interest was higher at 3,157 contracts from 2,926 contracts last Friday. – BERNAMA