US Tariff Deadline Expected To Boost Gold’s Safe-haven Appeal Next Week

By Abdul Hamid A Rahman

KUALA LUMPUR, July 5 (Bernama) -- Gold futures on Bursa Malaysia Derivatives are expected to maintain their bullish momentum, supported by renewed investor interest in safe-haven assets following the United States tariff deadline on July 9, which has added a layer of uncertainty to the market.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that should the final tariff announcement signal rising trade tensions, gold could attract further buying interest.

“Broader concerns over global growth, inflation and geopolitical risks continue to support the precious metal. Additionally, any signs of weakness in the US dollar or a dovish tilt from US central banks could reinforce gold’s upward trend.

“However, the overall outlook remains cautiously optimistic as markets await clearer policy cues,” he told Bernama.

On a weekly basis, the spot July 2025 contract went down to US$3,351.30 per troy ounce from US$3,355.10 per troy ounce, August 2025 fell to US$3,366.40 from US$3,370.80, while September gained to US$3,381.30 from US$3,370.80 last week.

The October and December 2025 all rose to US$3,400.10 per troy ounce from US$3,370.80 per troy ounce last Friday.

Trading volume decreased to 133 lots from 173 lots recorded in the preceding week, while open interest climbed to 84 contracts from 36 contracts.

According to the London Bullion Market Association’s afternoon fix on July 3, physical gold was priced at US$3,332.15 per troy ounce.

-- BERNAMA