Gold Price Likely To Trade Higher Next Week

Kuala Lumpur-Malaysia (May 28)  Gold futures contract on Bursa Malaysia Derivatives (BMD) is expected to have an upside bias, without factoring any unprecedented geopolitical risks anomalies occurring that could possibly boost safe-haven appeal further.

 Phillip Futures Sdn Bhd Dealer, Ler Wee Liang, said he expected Bursa gold futures to be bullish, tracking the movement of New York Commodity Exchange's gold futures next week, provided the latter were able to continue their upside strength.

 "In the week ahead, should any geopolitical risks in the US or elsewhere escalate, gold prices are expected to surge higher," he told Bernama, Saturday.

Source: Bernama.com