By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, July 9 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed lower today as the US dollar strengthened, decreasing bullion demand.
A trader told Bernama that the lacklustre performance in the US COMEX gold and global currency dynamics, coupled with profit-taking by investors as they reduced their position ahead of new US tariff announcements, also contributed to the easing of the local gold futures market.
Nonetheless, he said escalating global trade tensions may increase gold demand as investors seek shelter from expected volatility in stock prices.
The spot-month July 2025 contract slid to US$3,299.40 per troy ounce from US$3,337.80 on Tuesday, the August 2025 contract declined to US$3,314.80 from US$3,353.20, and the September 2025 contract fell to US$3,329.70 from US$3,368.10.
The October 2025, December 2025 and February 2026 contracts each narrowed to US$3,348.50 from Tuesday’s US$3,386.90.
Trading volume went up to 42 lots versus 31 lots on Tuesday, while open interest increased to 68 contracts from 61 contracts previously.
Physical gold was priced at US$3,314.74 per troy ounce, according to the London Bullion Market Association’s afternoon fix on July 8, 2025.
-- BERNAMA
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