KUALA LUMPUR, July 17 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives has extended its rally, tracking the movement of gold prices on the New York Commodities Exchange (COMEX).
At the close, the spot month July 2024 contract rose to US$2,472.60 per troy ounce from yesterday’s US$2,429.8 per troy ounce.
Meanwhile, August 2024, September 2024, October 2024, December 2024, and February 2025 improved to US$2,488.60 per troy ounce from Tuesday’s close of US$2,445.80 per troy ounce previously.
It was reported that COMEX gold prices hit a record high on Wednesday as the market anticipates a US interest rate cut soon.
Spot gold was up 0.2 per cent at US$2,473.89 per ounce, after hitting an all-time high of US$2,482.29 earlier in the session.
Volume jumped to 34 lots from 29 lots yesterday, while open interest soared to 46 contracts from 36 contracts previously.
The price of physical gold was at US$2,443.20 per troy ounce, according to the London Bullion Market Association’s afternoon fix on July 16.
-- BERNAMA
