By Nurunnasihah Ahmad Rashid
KUALA LUMPUR, April 24 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended marginally higher, supported by a weaker US dollar amid persistent global trade war fears.
SPI Asset Management managing director Stephen Innes said that after the steep fall on hopes of a trade war truce, gold is catching up again as markets reassess what is really on offer.
“Washington’s peace efforts are not clear, and the confusing messages about tariffs are making things uncertain.
“Until there is a consistent message or a credible framework for resolution, gold remains a go-to hedge in the uncertainty,” he told Bernama.
At today’s close, the spot month April 2025 contract was slightly lower to US$3,338.70 per troy ounce from US$3,340.60 per troy ounce on Wednesday, and May 2025 contract decreased to US$3,347.70 per troy ounce from US$3,349.60 per troy ounce.
June 2025, July 2025 and August 2025 contracts all inched up to US$3,364.90 per troy ounce from US$3,364.70 per troy ounce yesterday.
Trading volume decreased to 243 lots from 290 lots on Wednesday while open interest fell to 271 contracts from 343 contracts previously.
According to the London Bullion Market Association’s afternoon fix on April 23, physical gold was priced at US$3,262.95 per troy ounce.
-- BERNAMA
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