Gold futures likely to be uncertain next week
Trading in gold futures contracts on Bursa Malaysia Derivatives are expected to be uncertain next week as investors are cautious on the discouraging US economic data.
A dealer said investors are eyeing the results of the Federal Open Market Committee meeting next week to get a better insight of the impact caused by the partial shutdown in the US.
"Investors are likely to adopt a 'wait-and-see' attitude next week, monitoring the developments in the US amid speculation the Federal Reserve would hold off tapering for a longer period," she said.
However, she said the market will be bullish if the Federal Reserve could maintain its quantitative easing programme into first quarter 2014.
For the week just ended, 3,025 lots worth RM27.54 million were traded while open interest on Friday stood at 899 contracts.-- Bernama