GOLD
GOLD futures contract on Bursa Malaysia Derivatives is expected to trade in a consolidated mode while waiting for new catalysts, a dealer said.
Phillip Futures Sdn Bhd dealer Kiang Jia Ling said the market would likely analyse the US job data, including the nonfarm payroll released on Friday to determine their next move.
Meanwhile, another dealer said sharp losses in the stock indexes could drive strong gains for the market.
“The weakening of the US dollar on renewed speculation of an imminent pause in the US Federal Reserve’s tightening cycle could also boost demand for the gold market,” the dealer told Bernama.
For the week just ended, gold futures prices on Bursa Malaysia were mostly mostly higher following the US and China 90-day truce to resolve their differences over trade besides improved investor appetite towards riskier assets.