KUALA LUMPUR, Dec 16 -- Gold futures contracts on Bursa Malaysia Derivatives closed mixed today amid a weaker ringgit against the US dollar and a rise on the US Commodity Exchange's (COMEX) gold futures.
Phillip Futures Sdn Bhd dealer Chu Ching Yong said Bursa Malaysia's gold futures were negative today as the market anticipated that the US Federal Reserve would announce the US interest rate hike for the first time in nearly a decade.
Higher rates would dent demand for non-interest-paying gold, while boosting the dollar, as such, the precious metal might trend lower tomorrow if the central bank decided to do so, he said.
At the close, December 2015 and January 2016 both edged up a tick to RM147.55 and RM147.90 a gramme, respectively, while February 2016 slid five ticks to RM147.9 and March 2016 reduced seven ticks to RM147.85 a gramme, respectively.
Volume fell to 29 lots worth RM429,000 from Tuesday's 51 lots worth RM754,000, while open interest decreased to 1,269 contracts from 1,276 contracts previously.
At 5 pm, the price of physical gold stood at RM143.26 a gramme, up RM1.08 from Tuesday's RM142.18 a gramme.
--BERNAMA
Source: http://www.bernama.com/bernama/v8/bu/newsbusiness.php?id=1200085
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