KUALA LUMPUR, April 3 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives (BMD) closed lower on Wednesday due to a price correction while tracking the COMEX gold performance.
Recent reports indicate that a significant arbitrage opportunity involving tens of billions of dollars’ worth of gold and silver being moved to the United States came to an abrupt end following Wednesday’s announcement that precious metals would be exempt from Donald Trump’s sweeping tariffs.
On Thursday, US premiums for precious metals declined after a list of exemptions from the tariffs included gold, silver, platinum, and palladium.
At the close today, spot month April 2025 eased to US$3,134.60 per troy ounce from US$3,142.00 per troy ounce on Wednesday and May 2025 decreased to US$3,147.40 per troy ounce against US$3,152.00 per troy ounce last week.
June 2025, July 2025 and August 2025 weakened to US$3,160.20 per troy ounce from US$3,164.80 troy ounce previously.
Trading volume advanced to 191 lots from 35 lots yesterday, while open interest expanded to 262 contracts from 113 contracts previously.
According to the London Bullion Market Association’s afternoon fix on April 2, physical gold was priced at US$3,119.75 per troy ounce.
-- BERNAMA
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