KUALA LUMPUR: Trading in gold futures contract on Bursa Malaysia Derivatives is expected to be easier in the coming holiday-shortened week with the precious metal trading below RM128.00 a gramme.
The local market will be closed on Tuesday and Friday for local holidays.
Phillip Futures Sdn Bhd Dealer Thomas Yew Jia-Jong said the market would follow the metal's performance on the New York Commodity Exchange.
He said trading would remain cautious as sentiment would be weighed by the outcome of the US jobs data released on Friday.
"The data is expected to be favourable and this will shift investors' focus to equity markets and the US dollar," he told Bernama.
On a Friday-to-Friday basis, January 2014 decreased six sen or 12 ticks to RM129.95 a gramme while February 2014, March 2014 and April 2014 also eased six sen or 12 ticks each to RM130.30 a gramme, respectively.
Total volume rose to 1,910 lots, valued at RM24.82 million, from 1,779 lots, valued at RM22.76 million, recorded last week.
On Friday, open interest expanded to 1,425 contracts versus 1,084 contracts registered last Friday. - Bernama
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