THE gold futures contract on Bursa Malaysia Derivatives is expected to trade higher next week, lifted by increase in demand for safe-haven assets, said Phillip Futures Sdn Bhd trader Stephen Lou Yoke Lim.
Speaking to Bernama, he said interest for gold would also be supported by risk aversion in the global market, weaker global stock markets and softer US dollar.
On a Friday-to-Friday basis for the week just ended, spot month March 2020 rose 76 ticks to RM224.80 a gramme, April 2020 increased 60 ticks to RM225.00 a gramme and May 2020 improved 62 ticks to RM225.20 a gramme.
Newly-introduced month, June 2020 ended Friday at RM225.20 a gramme.
Weekly turnover rose to nine lots worth RM197,230 from seven lots worth RM266,320 in the previous week, while open interest narrowed to 130 contracts from 144 contracts before. – March 7, 2020, Bernama