GOLD FUTURES CLOSE SLIGHTLY HIGHER ON CAUTIOUS SENTIMENT

By Danni Haizal Danial Donald

KUALA LUMPUR, April 15 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed marginally higher today, following gains on COMEX, as traders cautiously monitor the tariff situation, said an analyst.

SPI Asset Management managing director Stephen Innes said that gold seems to be weighed down by overbought conditions, with investors pausing to see whether the market is heading for a tariff concession or awaiting the next escalation. 

“Gold is moving into a holding pattern, waiting for Washington to show its next step. While the US dollar still seems lower over the longer term, in the short run, traders are looking for concrete policy signals, not just more headline noise,” he told Bernama.

At today’s close, the spot month April 2025 contract inched up to US$3,237.10 per troy ounce from US$3,233.40 per troy ounce on Monday, while May 2025 edged higher to US$3,247.50 per troy ounce against US$3,243.80 per troy ounce before.

June 2025, July 2025, and August 2025 all climbed to US$3,261.60 per troy ounce from US$3,256.30 per troy ounce previously.

Trading volume rose to 730 lots from 330 lots on Monday, while open interest increased to 754 contracts from 364 contracts. 

According to the London Bullion Market Association’s afternoon fix on April 14, physical gold was priced at US$3,204.20 per troy ounce.

-- BERNAMA