Gold futures mostly lower on weak sentiment

Gold futures contract on Bursa Malaysia Derivatives opened mostly lower today on lack of demand due to weak market
sentiment, dealers said.

Sentiment was hurt after the United States posted some encouraging economic data which sparked concern that the Federal Reserve may decide the economy no longer needs its stimulus boosts.

At 10.20am, two contract months were traded in the local market.

December 2013 was traded at RM127.05 sen a gramme, down 26 ticks, from Monday and January 2014 declined 27 ticks to RM127.10 sen a gramme with a total of 142 lots transacted.

Meanwhile, February 2014 and March 2014 were both unchanged at RM128.85 sen a gramme.

Open interest stood at 1,173 contracts.