KUALA LUMPUR, July 9 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed higher today as the US dollar and US bond yields fell in the wake of the weak jobs report.
A weaker US dollar is likely to drive the price of gold higher through increasing demand as more gold could be purchased when the greenback is lower.
At the close, the spot month July 2024 contract increased to US$2,375.00 per troy ounce from US$2,370.50 per troy ounce last Friday.
Meanwhile August 2024, September 2024, October 2024, December 2024 and February 2025 rose to US$2,391.00 per troy ounce from US$2,386.50 per troy ounce previously.
Volume remained at three lots, while open interest slid to seven contracts from nine contracts previously.
The price of physical gold was at US$2,376.65 per troy ounce, according to the London Bullion Market Association’s afternoon fix on July 8.
-- BERNAMA
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