By Anas Abu Hassan
KUALA LUMPUR, July 10 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed higher today, driven by a softer US dollar amidst the ongoing global trade tension.
A trader told Bernama that the greenback slipped following the United States government’s announcement of a 50 per cent tariff on copper starting Aug 1.
He noted that the new development has propelled demand for the safe-haven asset as investors seek shelter from expected volatility in the global market.
The spot-month July 2025 contract rose to US$3,338.20 per troy ounce from US$3,299.40 on Wednesday, the August 2025 contract increased to US$3,353.60 per troy ounce from US$3,314.80 yesterday and the September 2025 contract improved to US$3,368.50 per troy ounce against US$3,329.70 previously.
The October 2025, December 2025 and February 2026 contracts each advanced to US$3,387.50 per troy ounce against Wednesday's close of US$3,348.50.
Trading volume slipped to 17 lots from 42 lots yesterday, while open interest decreased to 59 contracts against 68 contracts previously.
Physical gold was priced at US$3,300.15 per troy ounce, according to the London Bullion Market Association’s afternoon fix on July 9, 2025.
-- BERNAMA
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