Trading activity for gold futures on the Bursa Malaysia Derivatives is expected to remain subdued in the coming week due to weak market interest.
The market has been closed today for the New Year holiday and is set to resume operations the following day.
On a week-on-week basis, the spot-month December 2024 contract posted gains, closing at US$2,627.30 per troy ounce compared to US$2,607.00 last week. Meanwhile, the January 2025 contract rose to US$2,640.40 per troy ounce, up from US$2,620.10 previously.
Further contracts also saw increases, with February, March, and April 2025 notes settling at US$2,650.50 per troy ounce, climbing from last week’s price of US$2,630.30.
However, trading volume saw a sharp decline, dropping to just 60 lots compared to 144 lots the previous week. In contrast, open interest expanded to 38 contracts, up from 24 contracts previously.
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