By Siti Radziah Hamzah
KUALA LUMPUR, March 7 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended higher on Friday ahead of the release of the US non-farm payrolls (NFP) later today.
SPI Asset Management managing partner Stephen Innes said the NFP would set the tone for gold prices, but given the sum of recent US economic data, the needle has likely moved enough to keep the US Federal Reserve’s dovish pivot in motion.
“Gold prices will move higher as traders lean into rate-cut bets,” he told Bernama.
The spot month March 2025 contract advanced to US$2,928.60 per troy ounce from US$2,906.40 per troy ounce on Thursday, while April 2025 increased to US$2,938 per troy ounce from US$2,916.20 per troy ounce yesterday.
The May 2025, June 2025, and August 2025 notes also went up to US$2,946.80 per troy ounce from US$2,924.60 per troy ounce on Thursday.
Trading volume slipped to 83 lots from 154 lots, while open interest eased to 144 contracts from 188 contracts.
According to the London Bullion Market Association’s afternoon fix on March 6, physical gold was priced at US$2,922.20 per troy ounce.
-- BERNAMA
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