Gold futures close higher
KUALA LUMPUR, The gold futures contract on Bursa Malaysia Derivatives ended higher today after the latest US producer price index (PPI) data pointed to cooler inflation. The annual PPI came in lower than expected at 2.2 per cent in July against consensus estimate of 2.3 per cent and the 2.7 per cent recorded in the previous month, signalling that the US Federal Reserve was on track to cutting interest rates in September. At the end of trading, August 2024 rose to US$2,485.90 per troy ounce from US$2,468.90 per troy ounce at yesterday’s close. Meanwhile, September 2024, October 2024, November 2024,