By Siti Noor Afera Abu
KUALA LUMPUR, April 9 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended higher on Wednesday, snapping a four-day losing streak in line with gains on the COMEX, amid heightened trade war tensions.
SPI Asset Management managing director Stephen Innes noted that the rally, despite stronger US yields, suggests a shift in investor sentiment.
“The US dollar also failed to keep pace, indicating that gold is increasingly being viewed not just as a geopolitical hedge, but as a reflection of waning confidence in the greenback’s safe haven status,” he told Bernama.
At the close today, spot month April 2025 increased to US$3,056.70 per troy ounce from US$3,004.50 per troy ounce yesterday, while May 2025 was higher at US$3,067.10 per troy ounce against US$3,016.30 per troy ounce before.
June 2025, July 2025 and August 2025 all rose to US$3,077.20 per troy ounce from US$3,027.50 per troy ounce previously.
Trading volume increased to 552 lots from 187 lots on Tuesday, while open interest widened to 586 contracts from 238 contracts previously.
According to the London Bullion Market Association’s afternoon fix on April 8, physical gold was priced at US$3,015.40 per troy ounce.
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