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KUALA LUMPUR (Aug 22): The gold futures contract on Bursa Malaysia Derivatives is likely to remain next quiet next week, on lack of buying support, a dealer said.
She said the local gold market will continue to be influenced by the movement of the COMEX gold futures performance.
The gold market was quiet throughout the week with trading only recorded on Monday.
On a Friday-to-Friday basis, August 2020, September 2020, October 2020 and November 2020 all rose 20 ticks to RM261.00, RM259.45, RM259.35 and and RM260.70 a gramme respectively.
Weekly turnover was lower at one lot worth RM25,900 from 14 lots higher worth RM368,250 last week, while open interest rose to 32 contracts from 31 contracts.
Meanwhile, the price of physical gold eased RM2.47 to RM251.23 a gramme on Friday, from RM253.70 a gramme the previous Friday.