Gold futures likely to trade lower this week

Gold bullion bars being inspected and polished in Sydney. — AFP

KUALA LUMPUR: Gold futures contract on Bursa Malaysia Derivatives is likely to see cautious trading this week as investors await new market catalysts to drive demand, says a trader.

She said investors would also monitor the release of US non-farm payroll on Friday to make trading decisions.

Meanwhile, the local gold futures will take the cue from the movement of the US COMEX’s gold futures next week, said the trader.

For the week just ended, the gold futures traded mostly lower throughout the shortened trading week, tracking the US COMEX’s gold futures market. — Bernama