GOLD FUTURES REBOUND AS US-CHINA TENSIONS EASE

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Oct 29 (Bernama) -- Gold futures on Bursa Malaysia Derivatives closed higher on Wednesday, recovering after a significant sell-off earlier in the week as easing tensions between the United States and China reduced geopolitical risks.

SPI Asset Management managing partner Stephen Innes said the market tone has also turned firmer ahead of the US Federal Reserve’s (Fed) policy decision.

“Traders are now focused on a more consequential development, whether the Fed will signal an end to quantitative tightening and hint at rebuilding its balance sheet to boost reserves,” he told Bernama.

The spot-month October 2025 contract closed at US$4,019.7 per troy ounce, up from US$3,909.6 on Tuesday, the November 2025 contract rose to US$4,035.4 from US$3,926.4, and the December 2025 contract increased to US$4,052.7 from US$3,943.0.

January 2026 futures inched up to US$4,069.7 per troy ounce from US$3,960.0, with February, April, and June 2026 contracts also closing higher, settling at US$4,085.6 versus US$3,975.9 previously.

Trading volume slipped to 470 lots from 660 lots yesterday, while open interest eased to 577 contracts from 717.

Physical gold was priced at US$3,948.50 per troy ounce, according to the London Bullion Market Association afternoon fix on Oct 28, 2025.

-- BERNAMA