10/07/2024 08:14 PM

KUALA LUMPUR, July 10 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed slightly lower as investors were cautious ahead of the US June inflation data release on Thursday.

Nonetheless, according to reports, gold prices have showed its resilience during the first half of 2024, climbing almost 13 per cent to US$2,380 per ounce.

The rally persisted due to prolonged periods of interest rates, putting gold as a safe-haven asset. 

At the close, the spot month July 2024 contract marginally eased to US$2,373.60 per troy ounce from US$2,375.00 per troy ounce on Tuesday.

Meanwhile August 2024, September 2024, October 2024, December 2024 and February 2025 fell to US$2,389.60 per troy ounce from US$2,391.00 per troy ounce previously. 

Volume rose to nine lots from three lots on Tuesday, while open interest increased to 15 contracts from seven contracts previously.

The price of physical gold was at US$2,367.90 per troy ounce, according to the London Bullion Market Association’s afternoon fix on July 9.



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