GOLD FUTURES CLOSE LOWER, TRACKING COMEX MOVEMENT

The gold futures contract on Bursa Malaysia Derivatives closed easier with 21 lots traded, tracking the movement of gold prices on the New York Commodities Exchange (COMEX).At the close,the spot month July 2024 contract slipped to US$2,418.10 per troy ounce from US$2,467.10 per troy ounce yesterday, while August 2024, September 2024, October 2024, December 2024, and February 2025 was lower at US$2,434.10 per troy ounce from yesterday's US$2,483.10 per troy ounce.Globally, gold prices dipped more than one per cent as the US dollar firmed and some investors locked in profits following the precious metal's recent surge on increasing expectations of US interest-rate cut in September.Spot gold was down 1.4 per cent to US$2,411.78 per troy ounce.Volume rose to 21 lots from 18 lots yesterday, while open interest improved to 36 contracts from 30 contracts previously.The price of physical gold was at US$2,463.80 per troy ounce, according to the London Bullion Market Association's afternoon fix on July 18.S ource: BERNAMA News Agency