Bursa Malaysia Derivatives Berhad has announced the successful conclusion of its Gold Futures Retail Trading Challenge, a competition designed to educate and empower retail investors in the gold investment market. The challenge, which ran from 16 October to 31 December 2023, highlighted the importance of gold as a strategic asset class and introduced investors to the advantages of using the FGLD contract for portfolio diversification and hedging.
The challenge was open to all Malaysian individuals, with the criterion of achieving a minimum of 120 lots traded during the period. The top 10 traders with the highest trading volumes in FGLD contracts were awarded a total of 42 grams of gold minted bars, courtesy of MKS PAMP (Malaysia) Sdn Bhd, a renowned player with over six decades of expertise in the precious metals industry.
Bursa Malaysia Derivatives also celebrated the significant contributions of Futures Broker Representatives (“FBRs”) and Commissioned Futures Broker Representatives (“CFBRs”) through a concurrent challenge. These professionals were acknowledged for their efforts in promoting futures trading opportunities, with awards given to those achieving the highest number of traded accounts and volumes during the challenge period.
The FGLD contract is a cash-settled contract quoted in US Dollar (USD) and settled in Malaysian Ringgit (MYR), offering investors immediate exposure to international gold price movements and a hedge against currency fluctuations. With an 84% increase in monthly trading volume from January 2023 to December 2023, FGLD highlights the growing interest and opportunity within the gold trading sector.
