KUALA LUMPUR, Feb 15 — Gold futures contract on Bursa Malaysia Derivatives is expected to continue its upward momentum next week prompted by active demand on the back of the weakening dollar, dealers said.

Most market participants expect gold prices to spiral in anticipation of discouraging US data about the strength of the economy.

“The outlook for this precious metal is bullish next week and volume will increase on persistent demand,” a dealer said.

For the week just-ended, gold prices closed the week higher supported by the weakening greenback.

On a Friday-to-Friday basis, February 2014 added 80 ticks to RM139.15 a gramme, March 2014 increased 78 ticks to RM139.35 a gramme while April 2014 advanced 63 ticks to RM139.65 a gramme.

Total volume rose to 807 lots, valued at RM34.14 million, against 781 lots worth RM10.52 million, traded last week.

Open interest yesterday stood at 2,536 contracts versus 1,643 contracts last Friday. — Bernama