GOLD FUTURES END HIGHER AMID WEAKER GREENBACK AND US POLICY UNCERTAINTY

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Sept 29 (Bernama) -- Gold futures on Bursa Malaysia Derivatives ended higher on Monday, as investors turned to the safe-haven asset amid a weakening greenback and growing uncertainty over US economic policies, an analyst said.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US economy is likely to weaken as the executive branch continues to struggle in prescribing the right policies amid political polarisation. The US economy will need further assistance in the form of lower interest rates, he added.

"So the US central bank might need to be bolder in cutting the interest rates, and this might have an impact on the market risk sentiment. As the US dollar commands a high degree of safe-haven status, precious metals such as gold seem to be the right substitute. This has propelled the value of gold," he told Bernama.

The September 2025 contract rose to US$3,817.3 per troy ounce from US$3,750.3 on Friday, while the October 2025 contract increased to US$3,832.4 from US$3,765.4, and the November 2025 contract climbed to US$3,850.6 from US$3,783.6.

The December 2025, February 2026, April 2026, and June 2026 contracts all settled higher at US$3,869.0 per troy ounce versus US$3,803.5 last Friday.

The trading volume declined to 339 lots from 605 lots last Friday, while open interest fell to 375 contracts from 658 contracts previously.

Physical gold stood at US$3769.85 per troy ounce based on the London Bullion Market Association’s afternoon fix on Sept 26, 2025.

-- BERNAMA