Gold futures rally continues

Phillip Capital dealer Chong Yong Lin said the performance was in sync with global gold prices.

PETALING JAYA: The gold futures contract on Bursa Malaysia Derivatives continued its rally day as interest remained strong with 91 lots worth RM6.78mil traded.

Phillip Capital Sdn Bhd dealer Chong Yong Lin said the performance was in sync with global gold prices, which have hit their highest levels since mid-June on optimism ahead of the release of the minutes of the recent US Federal Open Market Committee meeting.

Chong said that there has been growing expectation for less aggressive US interest rate hikes going forward. — Bernama